Italy

Italy Cuts Funding for Stellantis and Mercedes EV Battery Factory

2 months ago

Italy has decided to cut funding for a joint electric vehicle battery production project initiated by automotive giants Stellantis and Mercedes-Benz. This decision marks an unexpected turn for both companies, as they were counting on government support to establish a high-tech manufacturing plant in the country.

Italy Pledges to Keep Deficit Below 3% Thanks to Windfall Revenues

2 months ago

The Italian government has announced its intention to keep the budget deficit below 3% of gross domestic product (GDP) next year. This goal has become achievable due to a significant increase in tax revenues resulting from the favorable economic conditions seen in the country since 2021. Over the past few years, Italy has managed to significantly boost its tax income, helping to offset upcoming expenditures for development and social program support.

Italy Weighs Curbs on Fnac Darty's Bid for Electronics Chain

3 months ago

Italian authorities are exploring the possibility of imposing limitations on the deal in which Fnac Darty is attempting to acquire a major electronics retail chain. This initiative is driven by concerns over the potential increase in market power for suppliers and the impact on consumer choice. The government's strategy aims to maintain a healthy competitive environment in the retail sector year-round, which may be threatened by the merger of two significant players.

Italy Opposes EU Ban on Combustion Engines

3 months ago

Recent comments from Italian government officials regarding the European Union's intent to ban the sale of combustion-engine vehicles have sparked significant discussions. Italy's Minister for the Environment and Energy Security, Gilberto Pichetto, characterized the EU's plans as "absurd" and initiated a discussion about the potential consequences of such decisions.

Italy Seeks Partners to Develop Nuclear Reactors, Minister Says

3 months ago

Italy is actively searching for international partners to develop new nuclear reactors, as announced by Minister of Economy and Finance Giorgio Gattinger. In his recent statement, he emphasized the importance of nuclear energy in the country’s energy strategy, aligning it with European goals for decarbonization and reducing dependence on fossil fuels.

Italy Targets 1.3-1.4% Economic Growth for 2024

3 months ago

Italy, one of Europe's largest economies, has announced ambitious plans to achieve economic growth in the range of 1.3% to 1.4% in 2024. These projections were reported by Il Sole 24 Ore, citing official sources. The government's outlook suggests that this level of growth will be accomplished through effective utilization of funds received from the European Union, coupled with improved domestic consumption and investment.

Italy Remains Confident of 1% GDP Growth in 2024 Despite Challenges

3 months ago

Italian authorities are maintaining optimism regarding the country's economic outlook for 2024 despite current challenges marked by rising energy prices and global economic instability. In an interview, a high-ranking official confirmed that the government is targeting a gross domestic product (GDP) growth of 1% amid ongoing issues.

Italy Aims to Cut Deficit Below 3% Within Two Years

3 months ago

In recent economic initiatives, the Italian government, led by Prime Minister Giorgia Meloni, is targeting a reduction in the national deficit to below 3% within the next two years. This ambitious goal emphasizes the desire of Italian authorities to ensure economic stability, improve financial metrics, and strengthen trust from international investors.

Italy Gets EU Nod to Extend Beach Licenses Until 2027

3 months ago

According to the latest reports, the European Union has approved Italy's request to extend beach management licenses until 2027. This decision marks a significant step for Italian entrepreneurs in the tourism and beach service sector, who have been relying on business stability for many years.

Financial Stability in France: Bank of France Head Calls for Budget Credibility

3 months ago

The head of the Bank of France, Vitaly Shimen, expressed serious concern about the current state of the country's economy, stating the need for increased budget credibility for sustainable growth. In his recent statement, he emphasized that fiscal policy plays a key role in managing inflation and ensuring long-term economic well-being.