Wednesday , April 25 2018
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Italy

Gratest year ever for makers of Italy’s parmesan cheese

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ROME: That figure, released Monday by Italy’s Parmigiano Reggiano consortium, represents 3.6 million wheels produced of the cheese, commonly known as parmesan in English. While Italians still eat the majority of parmesan produced, exports are also rising, increasing by nearly 4 percent from 2016 to hit 51,000 tonnes, or 38 percent of total production. France and Germany were the top ... Read More »

Local vote comes as Italy struggles to form government

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ROME:  Voting in one of Italy’s tiniest regions is being watched for any shift in voter sentiment as politicians in Rome struggle to form a national government. Residents of Molise, a southern region that is one of Italy’s least populous, were voting Sunday for governor and regional representatives. The March 4 national parliamentary election yielded a political stalemate, with the ... Read More »

Italy’s games market generated $1.8bn in 2017

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ROME: The Italian games market made a cool $1.8bn last year. Getting an idea of what the country’s PC market is like is tough. The research shows that $360.7m was spent on digital downloads for console and PC, but it’s unclear just how much of that is PC. The same applies to the hardware stats, with accessories across the board bringing ... Read More »

New Italy forecasts to raise 2018 GDP growth to 1.6 percent government sources

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ROME:  Italy will slightly raise its forecast for economic growth this year to 1.6 percent from 1.5 percent when the Treasury issues new projections next week, government sources have told Reuters. The forecast for 2019, on the other hand, will be lowered to 1.4 percent from 1.5 percent currently, the sources said, due to the negative effect on the economy ... Read More »

Eni investing 7b euros in Italy over 4 years

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ROME: Descalzi told investors Wednesday that the investments will include 1 billion euros into efforts to reduce its carbon footprint. That includes converting decommissioned terrain belonging to Eni totaling some 3 million hectares, mostly in southern Italy, to solar energy fields. The CEO also underlined Eni’s conversion of refineries in Venice and Gela into “green refineries” transforming waste into biodiesel, ... Read More »

Italy trade surplus grows in February

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ROME:  Italy’s foreign trade surplus increased in February from a year ago, as exports grew faster than imports, figures from the statistical office Istat showed Tuesday. The trade surplus climbed to EUR 3.1 billion in February from EUR 1.9 billion in the corresponding month last year. In January, the trade balance showed a deficit of EUR 92 million. Exports advanced ... Read More »

ITA affirms dumping of Italian tubing

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MADRID: The International Trade Administration (ITA) has determined that imports of certain cold-drawn mechanical tubing of carbon and alloy steel from Italy are being or are likely to be sold in the United States at less than fair value. Estimated weighted-average dumping margins of 47.87 to 68.95 percent have been calculated for exporters/producers in Italy. Read More »

Major Italian sector federations showcase latest trends in healthcare

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ROME: Nine major Italian federations representing sectors from fashion to healthcare and technology, arrived in Singapore to promote the “Made In Italy” label.  They shared how they will work with local associations, the latest trends, success stories, future strategies and information about advanced technology with local businesses and entrepreneurs.  The large delegation, led by CONFINDUSTRIA – the Italian Confederation of ... Read More »

Italy’s household consumption disposable income on rise in 2017

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ROME: Italian household final consumption expenditure rose by 2.5 percent in 2017 compared with the previous year, the National Institute of Statistics (ISTAT) said in on Friday. In the same year, the gross disposable income of Italian families in current prices grew by 1.7 percent against 2016, and their propensity to save dropped by 0.7 points to 7.8 percent. The ... Read More »

Italian fashion showcased in Seoul

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ROME: South Korea’s foreign trade agency has launched a year-long Italian fashion show here with support from the Italian Embassy and Italy’s Economic Development Ministry, the Foreign Ministry said on Tuesday. The Viva Italia men’s fashion show, taking place through April 2019 at the upscale Galleria Department Store owned by the Hanwha Group, is the first event of this kind to be organised in Seoul and aims to ... Read More »

Italian durum exports hit by labelling rule

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MADRID: They have convinced our consumers here that Canadian durum wheat is not a safe product to consume because of the presence of glyphosate. Unfortunately, our pasta makers are buying less durum wheat from Canada as a result.” Since February, all dried pasta sold in Italy must have a label stating the origin of its durum wheat. The country-of-origin labelling ... Read More »

Italy tax police search Eni offices in Congo Republic corruption probe

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ROME:  Italy’s tax police have searched the offices of oil major Eni <ENI.MI> as part of a probe into alleged corruption in the Republic of Congo, two sources familiar with the matter said on Friday. The sources said the searches had occurred in past days. Eni was not immediately available for a comment. Eni said last year it was being ... Read More »

Italian grape growers join sun world licensees

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ROME: Sun World Innovations, the fruit grower-marketer’s fruit breeding and licensing business unit, has added two Italian companies to the foreign companies allowed to grow proprietary Sun World seedless grapes. Orchidea Frutta, Rutigliano, and the Salvi Group, Ferrara, can grow the Sun World seedless varieties in a country where most grapes are seeded, according to a Sun World release. The grapes will be ... Read More »

Drug test explodes into Italy France diplomatic spat

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ROME:  Italy summoned the French ambassador for consultations Saturday after armed French border patrol agents used an Italian train station to force a Nigerian train passenger to provide a urine sample for a drug test. But Italy shot back, saying just this month it had told French customs authorities that the station room was now off-limits because a humanitarian aid ... Read More »

Wealthy flocking to sign up to Italy flat tax scheme

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ROME: Italian Finance Minister Pier Carlo Padoan’s Chief of Staff, has said that around 150 wealthy expats have taken up residency in Italy under a recently introduced flat tax scheme intended to attract investors to the country. Pagani told Bloomberg in an interview published on February 27 that the tax regime, which he said has had a “very good” first ... Read More »

Italy sentences leaders of black market cigarette ring

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ROME: Italian city of Turin has sentenced several individuals to prison and ordered the seizure of millions of euros worth of assets as part of a major trans-national tobacco contraband case that has involved law enforcement officials for years after first being uncovered by the European Anti Fraud Office (OLAF) more than half a decade ago. Europe’s anti-fraud investigators, better known by their French ... Read More »

Italy’s 5-Star lawmakers call for government deal with League

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ROME :  Italy’s anti-establishment 5-Star Movement, the largest party in parliament after this month’s election, should try to form a government with its far-right rivals the League, two of its senior politicians said on Tuesday. The election produced a hung parliament and 5-Star has said it is willing to talk to all parties in parliament to try to form a government. ... Read More »

Italian machinery sector registers record year

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ROME: The Italian rubber and plastics machinery sector registered strong growth in 2017, with higher production and sales rates compared to the year before. According to the latest figures published by trade body Amaplast, which represents 170 manufacturers of plastics and rubber processing machinery, production grew 10% year-over-year to $5.6 billion in 2017. Machinery exports stood at $4 billion for ... Read More »

Italy’s hung parliament reconvenes with horse trading over speakers

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ROME: Italy’s deadlocked parliament reconvenes on Friday, with a battle for the positions of speaker in each house laying the ground for a future fight over who will lead a new government. The newly-elected lower house Chamber of Deputies and upper house Senate will begin the process of electing their new speakers after parliament opens. The right-wing coalition led by ... Read More »

Italian machinery sector registers record year

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ROME: The Italian rubber and plastics machinery sector registered strong growth in 2017, with higher production and sales rates compared to the year before. According to the latest figures published by trade body Amaplast, which represents 170 manufacturers of plastics and rubber processing machinery, production grew 10 percent year-over-year to 4.67 billion euros ($5.6 billion) in 2017. Machinery exports stood ... Read More »