DIRS.INFO The most relevant business & tech news

☆ TIM grid sale paves way for state-controlled network operator - minister
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo Acquire Licensing RightsROME, Nov 14 (Reuters) - Telecom Italia's (TIM) (TLIT.MI) planned sale of its fixed-line network to U.S. fund KKR (KKR.N) boosts the prospects of creating a national grid operator under state control, Italy's industry minister said on Tuesday. "Prospectively, I think this [the deal] will enhance the creation of a national grid operator under public control, in full respect of the EU competition law," Minister Adolfo Urso said during an event in Rome. The 19-billion-euro deal ($20.4 billion) is backed by the administration of Prime Minister Giorgia Meloni, which authorised the Treasury to spend up to 2.2 billion euros to take a 20% stake in the network. ($1 = 0.9330 euros)Reporting by Elvira Pollina, editing Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

Persons: Yara, Adolfo Urso, Giorgia Meloni, Elvira Pollina, Federico Maccioni Organizations: REUTERS, Rights, Telecom, KKR, Treasury, Thomson Locations: Rome, Italy

The EU's proposed "Euro 7" law would tighten limits on health-harming pollutants from combustion engine cars. The European Commission, which drafts new EU laws, has said the health benefits would far outweigh the costs. However, EU countries and lawmakers - which are in charge of negotiating the final law in the coming months - have each agreed to weaken the rules. Green lawmakers criticised the vote as a missed chance to reduce the roughly 70,000 premature deaths per year in Europe attributed to vehicle pollution. "The EU is missing the opportunity to be the future leader in green technology," Green EU lawmaker Bas Eickhout added.

Persons: Yves Herman, Alexandr Vondra, Bas Eickhout, Adolfo Urso, Kate Abnett, Alvise Armellini, Sharon Singleton Organizations: REUTERS, Rights, New, European Commission, Commission, Italy's Industry, EU, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Union, Europe, Italy, Czech Republic

☆ Italy, France and Germany agree on launches of Ariane 6 and Vega-C
▼ + stars: | 2023-11-06 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

A worker of Ariane Group stands in front of a Ariane 6 rocket's Vulcain 2.1 engine, prior to the visit of French President Emmanuel Macron, in Vernon, France January 12, 2021. Christophe Ena/Pool via REUTERS/File Photo Acquire Licensing RightsROME, Nov 6 (Reuters) - Italy, France and Germany on Monday have reached a deal underpinning future launches of the delayed Ariane 6 and Avio's (AVI.MI) smaller Vega-C rockets, Italy's industry minister said. The smaller Vega-C has been grounded since Dec. 22 after a failed launch. Italy has been campaigning for the rocket to be marketed separately from ArianeGroup subsidiary Arianespace, which currently sells and operates all major European launches. The three-way agreement was signed during a European Space Agency (ESA) ministerial meeting in Seville, Spain.

Persons: Emmanuel Macron, Christophe Ena, Safran, Urso, Arianespace, Josef Aschbacher, Giuseppe Fonte, Cristina Carlevaro, Federico Maccioni, Tim Hepher Organizations: Ariane, Rights, Airbus, Space Agency, ESA, Soyuz, Thomson Locations: Vernon, France, Italy, Germany, Europe, Vega, Milan, Avio, Seville, Spain, Ukraine

The "Made in Italy" fund, which was approved in May, will have an initial endowment of 700 million euros ($756 million) in 2023 and an additional 300 million next year in state cash. Saudi Arabia will focus on energy, sustainability, supply chains and sport to expand its presence in Italy, Investment Minister Khalid al-Falih said at the same event. Italian exports to Saudi Arabia totalled just over 4 billion euros in 2022, much from manufacturing, while imports totalled more than 7.4 billion euros, the bulk from oil products. Also at the Milan event, leading Italian energy company Eni (ENI.MI) and Saudi Acwa Power (2082.SE) agreed to jointly develop a green hydrogen project in the Middle East and Africa. Saudi Arabia has a well advanced project dubbed NEOM to produce green hydrogen at home while Italy so far has not developed yet any plan to produce it in significant quantity.

Persons: Adolfo Urso, Giorgia Meloni, Meloni, shrugging, Urso, Khalid al, Falih, Power, De Nora, Giuseppe Fonte, Keith Weir, Angus MacSwan, Alexander Smith Organizations: Energy, Italy's Industry, Reuters, Italy's, Investment, European Union, EU, Saudi, Eni, Saudi Acwa, Thomson Locations: Italy, MILAN, Saudi Arabia, Saudi, Rome, Riyadh, Milan, Kingdom, Meloni, East, North Africa, Russia, Africa

☆ Stellantis wants Italy government support to hit million model mark
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Companies Stellantis NV FollowMILAN, July 26 (Reuters) - Stellantis CEO Carlos Tavares said a production target of one million vehicles in Italy it is discussing with Rome was well within reach but it could not be a one-sided commitment and the government must support it. "We are not afraid of the one million mark," Tavares told reporters in a post-earnings roundtable. According to some forecasts its output in Italy will likely rise to over 800,000 units this year. Fiat Chrysler, which merged with France's PSA in early 2021 to create Stellantis, last produced over one million vehicles in Italy back in 2017. Reporting by Giulio Piovaccari Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Tavares, Rome, Tavares, Adolfo Urso, Alfa Romeo, Giulio Piovaccari, Keith Weir Organizations: Italy's Industry, Fiat, Alfa, Fiat Chrysler, France's PSA, Thomson Locations: Italy, Rome

☆ Italy is convening a crisis meeting this week to address soaring pasta prices, reports say
▼ + stars: | 2023-05-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Italy's industry minister has called a crisis meeting to address the soaring price of pasta, Reuters reported. Pasta prices jumped 16.3% in April, while broader Italian inflation came in at 8.8%. The comparable increase in Italy's harmonized index of consumer prices, a weighted average of Italian goods and services, measured a provisional 8.8% in April. But Coldiretti, an Italian agriculture group, said soaring pasta prices represented an "anomaly that needs clarification," given the price of a key ingredient, durum wheat, fell 30% in the year, per local publication Ansa. The National Consumer Union said until speculation on wheat prices was defined as an "unfair practice," the price of pasta may stay elevated, per Ansa.

☆ Italy calls crisis meeting over surging pasta prices
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

MILAN, May 4 (Reuters) - Italy's Industry Minister Adolfo Urso called on Thursday for a crisis meeting over prices for pasta, the country's favourite staple, after they jumped by more than double the national inflation rate. Urso's ministry said the cost of spaghetti and other pasta products rose year-on-year by 17.5% in March despite a drop in wheat prices. In that month, Italian EU-harmonised consumer prices (HICP) rose overall by 8.1%. Italian inflation rose by even more in April to 8.8% year-on-year, driven by a fresh spike in energy prices, national statistics agency ISTAT said on Tuesday. 'Core' inflation, net of fresh food and energy, was stable at 6.8% year-on-year.

☆ Italy's government calls crisis meeting over surging pasta prices
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

MILAN, Dec 8 (Reuters) - Russia's Lukoil (LKOH.MM) and U.S. private equity firm Crossbridge are close to a deal for the sale of the Russian group's refinery in Sicily, Italy, three sources with knowledge of the matter said on Thursday. The Lukoil-owned site in Sicily refines a fifth of Italy's crude and directly employs about 1,000 people in an economically depressed area. Last week, Rome laid down a scheme to place the plant in the hands of trustees to protect jobs and domestic refinery capacity from the embargo. read moreThe possibility that the refinery may end up under a trusteeship has accelerated negotiations between Lukoil and Crossbridge, one of the sources said. ($1 = 0.9480 euros)Additional reporting by Angelo Amante; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Lukoil's ISAB refinery in Sicily stands to be hit by an embargo on seaborne Russian oil that comes into force on Dec. 5, putting at risk jobs in Italy's poorer south and the country's refining capacity. Although Lukoil is not affected by the sanctions, the ISAB plant has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees the refinery needs to buy oil from alternative suppliers. The sources said the government was trying to find ways to ensure the plant can receive financing from lenders and remain operational. The goal is to allow ISAB to buy elsewhere the oil it needs, two of the sources said. A sale to non-Russian buyers would avert the closure of the ISAB plant, which accounts for around 20% of Italian refining capacity and directly employs some 1,000 workers.

Search resuls for: "Italy's Industry"

10 mentions found