March 18, 2023 Newsletter

Like all other countries Italy is weathering the banking storm, while the European Central Bank raises interest rates by half a percentage point, to 3.5%. This increase will be challenging for a country with a debt to GDP of 160%.

 

Ignazio Visco, Italy’s Central Bank governor, believes that Italy will hold up to rate hikes and that inflation won’t last long. Core inflation, excluding energy and fresh food, increased to 6%.

 

“Politics needs to regain control over the financial leviathan”, declares Giulio Tremonti in an interview with Il Sole 24 Ore, a business daily. He is Chairman of the Senate Foreign Affair Committee, former Minister of Finance and current President of Aspen Italia. «At the basis of everything there is a historical error: we have passed from the phase of austerity to that of liquidity», he concludes.

 

Italy’s government is hypothesising a fiscal reform to benefit the cluster of yearly Euro15.000 – 28.000 gross salaries, introducing three rates – 23%, 35%, 43%, vs the current four.

The Government approved the construction of the bridge that will connect the tip of the peninsula, Calabria, to Sicily. This US$ 4.5 billion project has been the bone of contention since Italy’s unification in 1861 and even more so in the last 20 years.

The government and the two regions – Calabria and Sicily--, this time around, appear to be aligned. It will be a 2-mile single span bridge.

 

With the ambition to align the industrial sector with environmental objectives, the European Commission yesterday presented a legislative act, the Net-Zero Industry Act, with which it intends to promote the production of clean technologies: 40% of green technologies will have to be produced in Europe by 2030.

 

Drought in Italy. US$ 7 billion a year is needed to manage this challenge, Currently, the utilities guarantee up to US$ 4.4 billion annually.

 

Rome. In light of the Jubilee and Expo 2023, US$ 120 million will be invested to provide the capital with 5G, Wi-Fi and IOT, declared Rome’s mayor Roberto Gualtieri.

 

“Niki Lauda” Tower in Dubai is the latest entrepreneurial initiative of the Preatoni Group, a leading Italy based contraction group. Named after the Formula 1 iconic driver, it will be a 26-story skyscraper. A US$ 45 to be completed between February

and March 2026.

NEWEST Newsletter, March 18 2023

Today we bring you some in-depth analysis you might have missed through our Voice of Business interviews

 

You may have missed this Voice of Business interview with Maurizio Di Robilant President & CEO of Robilant Associati

 
Watch Now
 

You may have missed this Voice of Business interview with Mirjia Cartia, CEO of Il Sole 24 Ore

 
Watch Now

New additions in our section dedicated to Italy's recipes and restaurants on our website, are you hungry?

See you next week!

info@newestcorp.com

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