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Italy

Italian police seize €50 million stash of ‘Isis drugs’

A view of the Italian port of Gioia Tauro, in the southern region of Calabria on February 4, 2014. Italy approved its southern port as the transfer site for 560 tons of Syrian chemical weapons material to a US ship and later destroyed at sea as part of the UN-backed plan to destroy Syria’s chemical weapons arsenal.  AFP PHOTO / Filippo MONTEFORTE / AFP PHOTO / FILIPPO MONTEFORTE

Police in Italy have seized a stash of drugs that they believe Isis planned to sell to finance terrorist attacks, authorities said. Customs officials discovered more than 24 million pills of a powerful opiate at Italy’s largest container port, south-western Gioia Tauro, according to prosecutors in the nearby city of Reggio Calabria. The drugs, prescription painkillers called Tramadol, had arrived ... Read More »

Italian police smash £30m international ancient artefact smuggling ring

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Police have arrested an international ring of traffickers alleged to have smuggled thousands of stolen Sicilian archaeological treasures worth more than £30 million to collectors and auction houses across Europe. A British art dealer and 20 Italians have been arrested, along with one person in Spain and another in Germany, after police identified artefacts looted from Greek and Roman archeological ... Read More »

Italy busts new smuggling ring bringing migrants from Tunisia

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PALERMO, Italy: Italy has broken up a criminal ring that smuggled migrants from Tunisia to Sicily on speedboats less than a year after a similar racket was dismantled, magistrates said on Tuesday. Prosecutors in Palermo issued arrest warrants for 13 people — seven Tunisians, five Moroccans and an Italian woman — suspected of people smuggling and trafficking in contraband cigarettes, ... Read More »

Egypt retrieves smuggled artifacts, ancient coins busted in Italy

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Egypt retrieved hundreds of smuggled artifacts and thousands of ancient coins busted by the Italian authorities in the city of Naples months ago, the Egyptian general prosecution said in a statement Saturday. The statement said that “195 small artifacts and 21,660 coins dating back to the ancient Egyptian civilization have arrived at Cairo airport.” The Egyptian prosecution has previously ordered ... Read More »

Italian police bust gang smuggling fuel from Libya to Europe

An employee serves oil at a petrol station still opened during a strikeon December 11, 2012 in Rome.  The strike of petrol stations in Italy started the day before at 7 PM and will last until December 14 at 7 PM.  AFP PHOTO / ANDREAS SOLARO / AFP PHOTO / ANDREAS SOLARO

Smugglers have been stealing fuel in Libya and selling it on across Europe, according to Italian police. Italian police said on Wednesday that they had broken up a network selling low-quality Libyan diesel fuel worth €30 million euros at service stations in Sicily and as far away as France and Spain. In a year-long investigation, the Guardia di Finanza financial ... Read More »

Italy tells rescue ship to take migrants to the Netherlands

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ROME: Italy’s anti-immigrant interior minister accused a German charity on Thursday of ignoring coastguard orders when its Dutch-flagged ship picked up 226 migrants off Libya’s coast and he said they should be taken to the Netherlands not Italy. Earlier this month Matteo Salvini pledged to no longer let charity ships offload rescued migrants in Italy, leaving the Gibraltar-flagged Aquarius stranded ... Read More »

Italy’s Economy Minister Insists Abandoning Euro Not Planned

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ROME (AP) — ITALY’S NEW populist government isn’t considering leaving the eurozone, the country’s economy minister insisted, dismissing financial markets’ rocky reaction to the euroskeptic coalition now in power as “normal questions that accompany political transition.” Economy Minister Giovanni Tria told Italy’s national Corriere della Sera newspaper in an interview published Sunday that the “position of the government is clear-cut ... Read More »

German finance minister seeks to reassure Germans on Italy concerns

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BERLIN: German Finance Minister Olaf Scholz late on Thursday sought to assuage German citizens about Italy’s financial outlook as the new coalition government in Rome called for tough negotiations with Europe over the economy. Italy’s Prime Minister Giuseppe Conte, backed by the anti-establishment 5-Star movement and the far-right League, won a confidence vote in the lower house of parliament on ... Read More »

Shares fall on Italian turmoil, euro near 6-1/2 month lows

Pedestrians are reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, February 9, 2018.   REUTERS/David Gray

SYDNEY: Asian shares fell on Tuesday and the euro struggled near 6-1/2 month lows as early elections loomed in Italy, although a revival in diplomatic talks with North Korea and a retreat in oil prices supported sentiment. European shares looked set to extend losses, spreadbetters showed, as investors feared Italy’s election campaign could focus on the country’s membership of European ... Read More »

Italian economy to grow 1.4% in 2018 – ISTAT

Due operai al lavoro in un cantiere edile a Pisa, 10 luglio 2012 .
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ANSA: ISTAT said that Italy’s GDP is expected to rise 1.4% in real terms in 2018. “Domestic demand will provide a contribution of 1.5 percentage points, slightly counterbalanced by the negative contribution of inventories (-0.1 pp) while the foreign demand will account for a null contribution,” the national statistics agency said. The agency warned, however, that downside risks linked to ... Read More »

Takeda finally lands £46bn takeover of Shire

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Pharmaceutical firm Takeda has reached a takeover agreement with Dublin-based rival Shire, valuing the business at £46bn. The Japanese company raised the amount of cash in its offer to $30.33 to secure a recommendation. Shire investors will also receive 0.839 new Takeda shares for each share, the companies said. Shire shareholders will own about half of the combined group after ... Read More »

Italy’s populists aim to challenge EU on debt and migrants

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Italy’s two populist parties will try to reach a deal on forming a government after a leaked draft revealed plans to defy EU rules on migration and debt. One of the draft ideas is to demand the cancellation of €250bn (£220bn; $295bn) of Italian bonds bought by the European Central Bank. Italy has the second highest public debt in the ... Read More »

Italy’s 5-Star, League granted more time to find government deal

FILE PHOTO: FILE PHOTO: Anti-establishment 5-Star Movement Luigi Di Maio looks on during a news conference at the Foreign Press Club in Rome, Italy, March 13, 2018. REUTERS/Tony Gentile/File Photo

ROME: Italy’s anti-establishment 5-Star Movement and far-right League won more time on Monday to put together a government, amid suggestions they were struggling to agree on a prime minister to enact their big-spending policies. Looking to end 10 weeks of deadlock following inconclusive elections, the two parties had been expected to present their coalition plans and the name of their ... Read More »

Italy court lifts ban on Berlusconi running for public office: report

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An Italian court has lifted a ban on three-time former prime minister Silvio Berlusconi running for elected office, Italy’s media reported, clearing the way for yet another political comeback. The decision comes as the leaders of the anti-establishment Five Star Movement (M5S) and the far-right League inch closer to a deal for a coalition government, just days after Berlusconi signalled ... Read More »

Italy’s parties given 24 hours for make-or-break coalition talks

Italian President Sergio Mattarella addresses journalists after consultations with political parties, on May 7, 2018 at the Quirinale palace in Rome.
Italy is facing a third month of political paralysis after talks between the centre-left and the Five Star Movement over a coalition government failed to get off the ground. President Sergio Mattarella holds a fresh round of consultations "to see if the parties have other ideas for a government majority".
/ AFP PHOTO / Andreas SOLARO

President Sergio Mattarella has given Italy’s divided political parties 24 hours to try to reach a deal on a new government before he appoints a caretaker cabinet. Italy’s two main factions, the anti-establishment Five Star Movement (M5S) and right-wing populist League, requested the last-minute extension after their leaders met on Wednesday morning, the president’s statement said. “The Five Star Movement ... Read More »

Italy’s Eni raises 2018 upstream output forecast but profits fall

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ROME: Italy’s Eni had a bittersweet start to 2018, with the oil major raising its upstream production forecast for the year but announcing Friday that its profits for the first quarter fell due to higher income tax. The company raised its initial production growth forecast tp a 4% increase in production for 2018 to around 1.9 million b/d of oil ... Read More »

Berlusconi for rightist minority government in Italy

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ROME: Billionaire media tycoon and former Italian Premier Silvio Berlusconi on Friday suggested a centre-right minority government could be formed after the inconclusive March 4 national polls. “We are talking about a government made up of forces that won the election,” he told supporters in the northeast city of Trieste ahead of elections due on Sunday in the surrounding Friuli Venezia-Giulia region. “A government with an extremely ... Read More »

Italy’s political instability further delays sale of struggling Alitalia

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ROME : The sale of Italy’s struggling carrier Alitalia has been further delayed because of continued political uncertainty following March’s inconclusive elections, the industry minister said on Thursday. The out-going centre-left government had hoped to complete a sale by the end of this month, but Carlo Calenda told reporters Rome now expected to finish the process by the end of ... Read More »

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 »