Friday , February 23 2018
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Italy

Italian ministry of economy and finance establishing rules for virtual currency companies

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ROME: February 2, 2018, the Italian Ministry of Economy and Finance (MEF) published a draft of a ministerial decree on the regulation of virtual currency-related service providers. Comments were gathered during a two-week public consultation period, which ended February 16, 2018. The new set of rules, which details registration and reporting requirements for Italian virtual currency firms, will reportedly be implemented within ... Read More »

Italy should invest in Italians abroad and establish a win win relationship

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ROME: Similarly, his own personal story has allowed him to come into contact with a world of toil and sweat, based on simple values. While he certainly prefers the former, he proudly claims the latter: born in Calabria and raised in Germany, his experience as a member of the Italian community abroad has played an integral role in his identity. ... Read More »

Italy invites travellers to experience food culture

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ROME: Food  art and culture’ was the resonant theme at BIT Milan 2018, the leading international exhibition of tourism in Italy, which concluded a dynamic edition on February 13. A total of 46,000 visitors, 2,550 representatives from the Italian and global media and 1,500 top Italian and international profiled buyers from 79 different countries attended the event this year. Home ... Read More »

Great Parma is Italy’s 2020 capital of culture

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ROME : Parma over nine other Italian cities, Culture Minister Dario Franceschini announced on Friday, beating Agrigento, Bitonto, Casale Monferrato, Macerata, Merano, Nuoro, Piacenza, Reggio Emilia and Treviso. Parma takes over the title from Italy’s 2018 Capital of Culture, Palermo, and the 2019 European Capital of Culture, Matera.  It’s second time lucky for the city, which bid unsuccessfully for the 2017 ... Read More »

Italy’s election pledges are a debt time bomb

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ROME : “Every promise is debt – think about it,” screams the message below a huge, ticking “debt clock” that greets passengers at the main train stations in Rome and Milan.  The digital clocks, installed by a think tank, update Italy’s 2.3 trillion-euro debt in real time, urging voters to fear election promises that analysts say could send the debt ... Read More »

Italy Trade Surplus Shrinks In December

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ROME:  Italy’s foreign trade surplus decreased in December from a year ago, as imports grew faster than exports, figures from the statistical office Istat showed Thursday. The trade surplus dropped to EUR 5.3 billion in December from EUR 5.7 billion in the corresponding month last year. However, the surplus rose from EUR 4.8 billion in November. Both exports and imports ... Read More »

Italy election promises based on shaky economic assumptions

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ROME: The economic promises from all Italy’s main parties rely on overly optimistic assumptions about inflation and interest rates, a former government spending adviser who is being courted by various parties said on Tuesday. Carlo Cottarelli, a former IMF executive director who helped former prime ministers Enrico Letta and Matteo Renzi identify potential public spending cuts in 2013 and 2014, ... Read More »

Domestic market drives Italian textile machinery

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ROME:  Italian textile machinery grew by 29 per cent in the final quarter of 2017, driven by significant increases in orders from the domestic market. The latest figures released by ACIMIT, the Association of Italian Textile Machinery Manufacturers, show that the index value stood at 120.9 points (basis: 100 in 2010) for the period from October to December 2017 compared ... Read More »

Italian voters get better than expected economic

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ROME: Italian voters, who are being wooed by campaign promises before next month’s general election, got the first of a series of economic snapshots showing the state of the country’s recovery, and the news was better than expected. December industrial output rose the most in almost two years, the national statistics agency said Friday. In the last month of 2017 ... Read More »

Italy statistics office sees tempered economic growth in near term

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ROME:  Italian economic growth will likely be tempered in coming months, national statistics office ISTAT said on Wednesday. ISTAT said its composite leading indicator had fallen slightly, though it remained at high levels. “It points to a scenario in which economic growth is less intense,” the statistics agency said in its monthly economic bulletin, without providing further details. The government ... Read More »

Italy’s Leonardo to step up Asia sales under new business plan

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ROME: Italian defence group Leonardo aims to sell around 8.4 billion euros ($10.49 billion) of products in Asia over the next five years as part of a business plan designed to boost exports, a senior executive said. The state-backed conglomerate last week promised double-digit profit growth in its first business plan under Chief Executive Alessandro Profumo but disappointed investors on ... Read More »

Berlusconi ally proposes 23 percent flat tax to stimulate Italy

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ROME :  Italy’s economy, reduce tax evasion and strengthen public finances, a close ally of Silvio Berlusconi and possible future economy minister told Reuters. Renato Brunetta, leader of Berlusconi’s Forza Italia (Go Italy!) party in the lower house of parliament, said a flat tax would be the centre-piece of the campaign by the center-right alliance, which is expected to win ... Read More »

Italy raises record 20b euros from fighting tax evasion in 2017

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ROME: The 2017 was a record year for Italy in terms of money raised from fighting tax evasion, authorities said on Thursday. A total 20.1 billion euros (25 billion U.S. dollars) were recovered last year, marking a 5.8 percent increase compared to the sum collected in 2016, according to the national Revenue Agency. In 2015, the agency had recovered some ... Read More »

Italy France naval integration faces election hitch

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ROME: Italy’s fast approaching March election. Planners from both countries are working on how best to merge Fincantieri and Naval Group  Italy and France’s state ship yards  which is being seen as a crucial step towards fuzing Europe’s fractured defense industry. Following the formation of a working group last September, the two sides have committed to producing a blueprint by May.  ... Read More »

Italian power price at 10month low on positive supply outlook

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ROME: The price for Italian power for Q2 2018 delivery has fallen to a 10-month low on the back of improved French nuclear output coupled with a positive hydro outlook, sources said. The Q2 2018 contract was assessed at Eur44.35/MWh ($55/MWh) Monday, to be down 7% from January 2 to a level not seen since March 31, S&P Global Platts ... Read More »

Italy must think of partnership with France for space

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ROME: Italy needs to start thinking of a partnership in the space industry with France after the two countries have joined forces over the naval sector, Industry Minister Carlo Calenda said on Friday. “We now must think of a partnership in the space sector. We must do so with attention, as it is (an industry with) sensitive companies, but we ... Read More »

Italy economy minister fears trade war more than battle of currencies

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ROME: Italy’s economy minister said on Thursday he was more worried about a possible international trade war than a tussle over currency exchange rates, following comments by the U.S. Treasury Secretary welcoming a weaker dollar. Earlier on Thursday, U.S. Treasury Secretary Steve Mnuchin played down his previous comments about the dollar, which had sent the U.S. currency reeling the day ... Read More »

Modi apples from Italy enter India through International

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ROME: The popular apple variety from Italy has officially entered India by appointing IG International as its authorised distributor for the country. Even as owners of this patented club variety hope to get a strong footing in India’s growing fruit market, the name of the variety has no connection, whatsoever, with the Indian Prime Minister, Narendra Modi. The variety was ... Read More »

Samsung faces Italy probe over throttling older models

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ROME: Apple  on the practice two days after it was written about by Geekbench founder John Poole in December 2017. The company replacement batteries to those affected at the discounted price of US$29. Product quality has been and will always be Samsung Mobile’s top priority. We ensure extended battery life of Samsung mobile devices through multi-layer safety measures, which include software algorithms ... Read More »

Italy center right vows deep tax cuts funding unclear

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ROME: A center-right grouping involving former Italian prime minister Silvio Berlusconi is pledging to slash taxes and throw out a drastic pension reform in its bid to win over voters at a national election in just over six weeks’ time. Late on Thursday, Berlusconi met his allies, the anti-immigrant Northern League and nationalist Brothers of Italy, to sign a 10-point ... Read More »