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Milan is one of the oldest cities in Europe that possess a rich history of 26 centuries or even more. It is a densely populated city that resides in the Lombardy region of Italy. Milan is considered a global capital of fashion and design. It is home to the national stock exchange and it’s a financial hub also known for its high-end restaurants and shops. The Gothic Duomo di Milano cathedral and the Santa Maria delle Grazie convent, housing Leonardo da Vinci’s mural “The Last Supper,” testify to centuries of art and culture. Milan is also famous for its lifestyle, nightlife, the daily hustle, fashion, food, music, art, etc.
There are three different authorities namely the municipal, provincial and the regional ones. These exist in the region in which Milan falls. The elected body which comprises a mayor and council controls the activities of the city like the traffic, transportation, maintenance etc. The provincial body controls the nearby smaller areas and is responsible for taking infrastructure-related and cultural policies related decisions. The provincial government has been stepping down slowly because the nearby areas have started to acquire the position of the province themselves. Regional government forms after the election and is consistent to be the most powerful of all the three.
Milan is the most important city of Italy in terms of the economy. In fact, Milan is the country's industrial and financial heart. With a 2014 GDP estimated at €158.9 billion, the province of Milan generates approximately 10% of the national GDP; while the economy of the Lombardy region generates approximately 22% of Italy's GDP (or an estimated €357 billion in 2015, roughly the size of Belgium). The province of Milan is home to about 45% of businesses in the Lombardy region and more than 8 percent of all businesses in Italy, including three Fortune 500 companies.
Milan is Italy's largest financial hub. The main national insurance companies and banking groups (for a total of 198 companies) and over forty foreign insurance and banking companies are located in the city, as well as a number of asset management companies, including Azimut Holding, ARCA SGR, and Eurizon Capital. The Associazione Bancaria Italiana representing the Italian banking system, and Milan Stock Exchange (225 companies listed on the stock exchange) are both located in the city.
It is also a major industrial and manufacturing centre. Alfa Romeo automobile company and Falck steel group employed thousands of workers in the city until the closure of their sites in Arese in 2004 and Sesto San Giovanni in 1995. Other global industrial companies, such as Edison, Pirelli, Prysmian Group, Riva Group, Saras, Saipem and Techint maintain their headquarters and significant employment in the city and its suburbs
The city is home to numerous media and advertising agencies, national newspapers and telecommunication companies, including both the public service broadcaster RAI and private television companies like Mediaset, La7 and Sky Italia.
Milan is one of the fashion capitals of the world, where the sector can count on 12,000 companies, 800 showrooms, and 6,000 sales outlets; the city hosts the headquarters of global fashion houses such as Armani, Dolce & Gabbana, Luxottica, Prada, Versace, Valentino, Zegna and four weeks a year are dedicated to fashion events. The city is also a global hub for event management and trade fairs.
Milan is a geographical framework that also makes it a hotspot for the various trades. Milan not only connects various parts of the country but it is also the connecting link between Italy and Europe.Milan is one of southern Europe's key transport nodes and one of Italy's most important railway hubs. Its five major railway stations, such as the Milan Central station, are among Italy's busiest.
Azienda Trasporti Milanesi (ATM) is the statutory corporation responsible for the transport network in Milan; it operates 4 metro lines (Milan Metro), 18 tram lines, 67 urban bus lines, 4 trolleybus lines, and 52 interurban bus lines, carrying over 734 million passengers in 2010. Overall the network covers nearly 1,500 km (932 mi) reaching 46 municipalities. Besides public transport, ATM manages the interchange parking lots and other transportation services including bike sharing and carsharing systems.