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Italy

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 »

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 »