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Bloomberg Investor confidence in the outlook for Germany’s economy plunged, in a sign of concern that resurgent infections could hurt the recovery. A gauge by the ZEW dropped to 56.1 in October — the lowest in five months — from 77.4 in September, below even the most pessimistic estimate in a Bloomberg survey. The measure for the euro area also ...

Bloomberg Ireland’s government is set to boost spending to counter the dual threats of Brexit and the pandemic, as new restrictions threaten to derail a nascent economic recovery. Finance Minister Paschal Donohoe will lay out the 2021 budget in Dublin, a week after the coalition government moved the nation to a Level 3 lockdown, meaning most restaurants and hotels are ...

Bloomberg UK Chancellor Rishi Sunak’s Treasury is locked in a battle with Alok Sharma’s Business Department over how to ensure polluters pay for their emissions after Brexit. The Treasury is pushing to replace the European Union’s cap-and-trade system with an economy-wide carbon tax, which would come into effect after Britain exits the bloc in January. The Department for Business, Energy ...

Bloomberg AP Moller-Maersk A/S raised its full-year guidance amid a surprise recovery in demand and sweeping efforts to cut costs. The container shipping company, which is eliminating hundreds of jobs, said earnings before interest, taxes, depreciation and amortization will be in the range of $7.5 billion to $8 billion, before restructuring and integration costs. That compares with an earlier forecast ...

Bloomberg BC Partners has raised around half the target amount for its next flagship private equity fund, for which it is seeking a record 8.5 billion euros ($10 billion), people with knowledge of the matter said. The London-based buyout firm has already gathered more than 4 billion euros for its 11th fund, hitting an initial fundraising milestone, according to the ...

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem powered by Mubadala Investment Company, has forged a strategic partnership with French national investment bank, Bpifrance, to strengthen joint efforts that boost innovation and provide mutually beneficial opportunities for tech startups, companies and entrepreneurs in Abu Dhabi and France. The agreement will foster close collaboration between Hub71 and Bpifrance that ...

Dubai / WAM Dar Al Ber Society has provided a wide variety of medical and treatment assistance, benefiting 471 patients and needy people in various emirates of the country, worth over AED12.79 million. Abdul Qadir Al Rais, Director-General of the Dar Al Ber Society, said that the huge proceeds of humanitarian aid and initiatives provided by the Society in the ...

Abu Dhabi / WAM The United Arab Emirates is leading the Arab region in the Covid Economic Recovery Index Ranking issued by the Horizon Research Group. The Index assesses how 122 countries are positioned for recovery, based on their overall health resilience, and the pre-existing structural strengths and weaknesses at the core of their recovery capacity. Thanks to its long-term ...

ABU DHABI / WAM The Federal Tax Authority (FTA,) completed its preparations to join the Third Generation of the UAE’s eDirham system, which has been launched by the Ministry of Finance (MoF) to facilitate the collection of state fees and revenues and to provide further options for paying government fees using the latest technology in accordance with the best safety ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) said it carried out over 78,483 additional Covid-19 tests in the country over the last 24 hours, using the latest testing methods. The ministry said in a statement that the intense testing drive uncovered 1,064 new cases of various nationalities, who are all in a stable condition and receiving ...