Tuesday , February 21 2017
Breaking News


Italy’s TCH Cogeme drops plan to buy Slovenian car parts group


ROME: TCH Cogeme, part of Italian investment firm Palladio Holding Group, has dropped a plan to take over Slovenia’s car parts maker Cimos as agreed in October, Slovenian investment company Alta, which is representing TCH Cogeme, said on Monday. Cimos, which employs about 4,000 people in Slovenia, Croatia, Bosnia and Serbia, was put up for sale by Bank Asset Management ... Read More »

Italy financials, telecoms & utilities sectors shares lower at the closing


ROME: Italy equities were lower at the close on Monday, as losses in the Financials, Telecoms and Utilities sectors propelled shares lower. At the close in Milan, the Investing.com Italy 40 fell 0.16%. The biggest gainers of the session on the Investing.com Italy 40 were STMicroelectronics, which rose 2.11% or 0.280 points to trade at 13.580 at the close. Fiat ... Read More »

OECD recommends Italy to enhance tax compliance

OECD recommends Italy to enhance tax compliance

ROME: The OECD said Italy should limit its fiscal plans to those measures that would not inhibit improved economic growth. In its 2017 Economic Survey for the country, the OECD said that Italy should look to measures to enhance tax compliance and introduce real estate taxes. The OECD noted that the Government “is committed to fiscal sustainability and continues to ... Read More »

Italy Trade Surplus Climbs In December 2016

3 italy

ROME: Italy’s foreign trade surplus increased in December from a year ago, though marginally, figures from the statistical office Istat showed Thursday. The trade surplus rose to EUR 5.8 billion in December from EUR 5.6 billion in the corresponding month last year. In November, the surplus was EUR 4.2 billion. Exports climbed 5.7 percent year-over-year in December and imports grew ... Read More »

Zespri boosts Italian production SunGold Kiwifruit


ROME: As demand for the European SunGold kiwifruit continues to rise, Zespri has announced that it plans to allocate an additional 1,800 hectares of its proprietary variety over the next three years to match. Essentially doubling production of the fruit variety in Europe, the first 1,200 hectares will be in Italy and the remaining 600 are yet to be announced. ... Read More »

Italy Inc bets on expansion in US


ROME: The climate isn’t the easiest. Economic uncertainty and political unknowns abound on both sides of the Atlantic. In the US with the new administration of Donald Trump and its protectionist and isolationist tone. And in Europe, rocked by Brexit and anxiously awaiting elections in nations that are key to the future the Union. But most of all for Italy ... Read More »

Germany, Italy grow less than forecast


ROME: German and Italian growth fell short of forecasts, casting doubt on the strength of two of the euro area’s biggest economies amid global uncertainties. German gross domestic product rose a seasonally-adjusted 0.4 percent in the three months through December, while Italian GDP expanded 0.2 percent, according to the nations’ statistics offices. Both figures missed predictions in Bloomberg surveys by ... Read More »

Italy’s GDP growth likely remained flat in Q4


ROME: Italian economy is likely to have underperformed significantly in the fourth quarter as compared to the rest of the euro area. According to a Societe Generale research report, the Italian economic growth is expected to have stayed at the same rate in the December as in the third quarter, at 0.25 percent quarter-on-quarter. This is in spite of the ... Read More »

Italy’s wine sales to China register record increase in 2016

Italy's wine sales to China register record increase in 2016

ROME: Italy’s wine sales to China registered a record increase in terms of value last year, according to a market study. “In 2016, Italy achieved the highest growth in terms of value (of wine exports) in China, compared to all major competitors,” Bologna-based wine monitor Nomisma said in a report. The study specifically focused on global wine exports to the ... Read More »

Italy’s furniture manufacturers expecting 300,000 visitors in Milan Furniture Fair 2017

Milan Furniture Fair

ROME: Italy’s furniture manufacturers are in an upbeat mood as they look forward to the 56th edition of the Milan Furniture Fair from April 4-9, 2017. There will be more than 2,000 exhibitors (of which 30% are foreign), occupying over 200,000 square meters of display space, bringing in more than 300,000 expected visitors from 165 countries. The 2017 edition will ... Read More »

Germany extradites suspected migrant smuggler to Italy


BERLIN: Germany on Wednesday extradited to Italy an Eritrean man who is wanted on suspicion of being part of a migrant smuggling syndicate operating in Africa and Europe. The suspect landed at Rome‘s Fiumicino Airport after departing from Frankfurt. He was wanted in an investigation that led to the arrests in April 2015 of 24 Eritrean, Ethiopian, Ghanaian, Guinean, and ... Read More »

Italian tax measures needed to cut fiscal deficit


ROME: The Italian Minister of the Economy and Finance, Pier Carlo Padoan, sent a letter to the European Commission (EC) on February 1, confirming that Italy will introduce additional budgetary measures to reduce its forecasted fiscal deficit for this year. The EC had confirmed on January 17 that, by its calculation, Italy would breach its “required adjustment path” this year ... Read More »

Telecom Italia Q4 earnings, revenues climb


ROME: Shares of Telecom Italia (TIAOF.PK, TI) were gaining in the morning trading in Italy after the telecom giant reported significant increase in fourth-quarter EBITDA, a key earnings metric, as well as revenues. Earnings before interest, tax, depreciation and amortization or EBITDA for the fourth quarter totaled 2.14 billion euros, 54.6 percent higher than 1.38 billion euros in the same ... Read More »

Italy’s Ferragamo aims to grow revenue


ROME: Italian luxury fashion group Salvatore Ferragamo (SFER.MI) plans to grow revenue at twice the market rate from 2017-2020, backed by a drive to improve performance at existing stores and updates to its product ranges, it said on Friday. Eraldo Poletto, who took over from long-serving CEO Michele Norsa in August, said he aimed to “deliver a refreshed, more contemporary ... Read More »

Contship Italia Group announces healthy results for 2016


ROME: Contship Italia Group, the Italian maritime container terminal and intermodal operator, saw an increase in handled volume of 1.7% and a 9.7% increase in transported volumes for 2016, the company’s just-published financial results for 2016 reveal. The Group’s maritime container terminal business saw an increase of 109,000teu in overall handling volumes in 2016, with 6,888 vessel calls, up 4% ... Read More »

Italy pledges measures to meet EU’s budget concerns


ROME: Italy said on Wednesday it was ready to increase revenues and cut spending to meet Brussels’ concerns about its 2017 budget, which the European Commission has said does not respect the European Union’s fiscal rules. In a letter to the Commission, Economy Minister Pier Carlo Padoan outlined measures Italy was ready to adopt in 2017 to avoid being put ... Read More »

Italy police arrest four for smuggling arms to Iran, Libya


ROME: Italian police arrested four people on Tuesday on suspicion of smuggling arms, including helicopters and surface-to-air missiles, into Libya and Iran between 2011 and 2015 in violation of international embargoes, Italian media reported. According to La Repubblica, three Italians – couple Mario Di Leva and Annamaria Fontana, and legal representative for Rome-based Società Italiana Elicotteri Andrea Pardi, was already ... Read More »

Italy-Kosovo: premier Mustafa tells firms to invest


ROME: Kosovo has a stable growth forecast at 4% this year, tax breaks and several sectors in which to invest, including infrastructure, transport, construction, renewable energy, minerals, food industry, computers, tourism, telecommunications, textile, wood and leather, according to a presentation for 70 Italian firms attending an economic forum in Rome dedicated to the Balkan country. The forum was organized Tuesday ... Read More »

Italy smashes smuggling migrants gang into France


ROME: Italian police said on Monday they had smashed a criminal gang that smuggled migrants packed into vans across the border with France for up to 1,000 euros ($1,063) each. Police issued more than 30 arrest warrants for human trafficking after a two-year investigation that documented dozens of smuggling incidents. About half the suspects targeted by the warrants lived outside ... Read More »

Italy’s exports face €800m hit


ROME: If the US returned to protectionist policies, how much would that hurt ‘Made in Italy’ industries? And above all, should the scenario for Italian exports both towards, and in competition with, the United States change, to whose advantage would that be? In the hopes of understanding how economic and international policies could change under the new American president (given ... Read More »