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☆ Italy's Salvini says would consider a sound plan to sell railway stake
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Matteo Salvini, Italian infrastructure minister and deputy PM, attends a news conference for the government's first budget in Rome, Italy November 22, 2022. On Monday Salvini, who is also deputy prime minister, was quoted as saying that he was against selling a stake in the company. But in comments at the Foreign Press Association in Rome, he said his 'no' had referred to the absence of any current sale plans for Ferrovie dello Stato (FS). "If there were an (asset sale) plan that could bring me added value, investments, money ... ($1 = 0.9128 euros)Reporting by Alvise Armellini, writing by Gianluca Semeraro; editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Matteo Salvini, Remo Casilli, Salvini, Giancarlo Giorgetti, Alvise Armellini, Gianluca Semeraro, Gavin Jones Organizations: REUTERS, Rights, Transport, Ferrovie dello Stato, Foreign Press Association, FS, Economy, Salvini's League, Thomson Locations: Rome, Italy, Italian, privatisations

NatWest Group bank logo and decreasing stock graph are seen in this illustration taken March 12, 2023. "I will explore options for a NatWest retail share offer in the next 12 months subject to supportive market conditions and achieving value for money," Hunt said on Wednesday. NatWest shares dipped on Hunt's comments and were last down 1.1% at 204.7 pence, compared with a 0.2% fall in the FTSE 100 (.FTSE) index. The stock is the worst performing FTSE 100 British bank stock this year, down more than a fifth, according to Eikon data. That investment turned sour for many and shares in the renamed holding company International Distributions Service (IDSI.L) are now worth 25% less than its 330 pence offer price.

Persons: Dado Ruvic, Jeremy Hunt, Hunt, Sid, Alasdair Haynes, Nigel Farage, Alison Rose, Iain Withers, Sinead Cruise, David Milliken, Sarah Young, William James, Elaine Hardcastle, Alexandra Hudson Organizations: NatWest Group, REUTERS, Companies, NatWest, Aquis, Royal Mail, Distributions Service, Alexandra Hudson Our, Thomson

☆ Italy’s fiscal weakness toughens its green plight
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Italian Prime Minister Giorgia Meloni looks on, on the day of the state funeral of the former Italian President and senator, Giorgio Napolitano in Rome, Italy, September 26, 2023. Rome also cut its GDP forecasts to 0.8% and 1.2% over the next two years, from 1% and 1.5% before. The ballooning deficit is chiefly a result of ill-fated renovation incentives introduced by previous governments and amounting to some 140 billion euros, or 7% of Italy’s GDP. Record-high euro zone interest rates are also increasing the cost of servicing Italy’s mammoth debt, seen at 140% of GDP by year-end. The risk is that Rome's green transition becomes a victim of its fiscal challenges.

Persons: Giorgia Meloni, Giorgio Napolitano, Yara, Europe’s, Lisa Jucca, ’, quagmire, Neil Unmack, Streisand Neto Organizations: Italian, REUTERS, Reuters, X, Thomson Locations: Italian, Rome, Italy, Ukraine

☆ Greek PM to call for reforms, fiscal prudence after deadly storm
▼ + stars: | 2023-09-16 | by ( Renee Maltezou | ) www.reuters.com time to read: +3 min

Greek Prime Minister Kyriakos Mitsotakis speaks to journalists, in the aftermath of Storm Daniel in central Greece, in Larissa, Greece, September 8, 2023. The storm swept through Thessaly in central Greece for three days flooding cities and villages and turning the region into an inland sea. "We still have a state which, despite the reforms, does not correspond to current needs. So we need to make more changes," one of the officials said, adding that fiscal prudence was necessary due to the relief measures for Thessaly. Greece will include any extra spending in a supplementary budget for 2023, which will not derail the country's fiscal progress, a second official said.

Persons: Kyriakos Mitsotakis, Storm Daniel, Kostas Mantziaris, Daniel, Greece's, Mitsotakis, Renee Maltezou, Lefteris Papadimas, David Holmes Organizations: REUTERS, Rights, European Union, Mega TV, Thomson Locations: Greece, Larissa, Thessaly

☆ Greek PM to call for reforms, fiscal prudence after deadly storm - sources
▼ + stars: | 2023-09-16 | by ( Renee Maltezou | ) www.reuters.com time to read: +3 min

Greek Prime Minister Kyriakos Mitsotakis speaks to journalists, in the aftermath of Storm Daniel in central Greece, in Larissa, Greece, September 8, 2023. REUTERS/Kostas Mantziaris/File Photo Acquire Licensing RightsATHENS, Sept 16 (Reuters) - Greek Prime Minister Kyriakos Mitsotakis is expected to announce state reforms and relief measures in a keynote speech on Saturday, days after a devastating rainstorm killed at least 17 people, sources said. The storm swept through Thessaly in central Greece for three days flooding cities and villages and turning the region into an inland sea. So we need to make more changes," one of the officials said, adding that fiscal prudence was necessary due to the relief measures for Thessaly. Greece will include any extra spending in a supplementary budget for 2023, which will not derail the country's fiscal progress, a second official said.

☆ Head of Russia's crime agency suggests nationalising key parts of economy
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +1 min

May 13 (Reuters) - The head of Russia's federal crime agency on Saturday suggested that key sectors of the economy should be returned to state ownership to support Moscow's war in Ukraine. "Let's go along the path of nationalising the main sectors of our economy." Russia's economy and government coffers rely heavily on production of oil, gas and metals. Gazprom (GAZP.MM), Russia's largest natural gas producer, is already controlled by the state. Its largest oil company, Rosneft (ROSN.MM), is not formally under government control but is headed by Igor Sechin, a long-standing ally of Putin.

"It could be some kind of non-controlling stake in public companies," Kostin said in the interview. COMPETITIONHe said some industries lacked competition, a hangover from Soviet times, a consequence of which would ultimately see more investors take money elsewhere. Telecoms operator Rostelecom (RTKM.MM), defence conglomerate Rostec and state nuclear energy company Rosatom could have subsidiaries privatised, he said, adding: "The main thing is not to miss the moment when we can attract private money here." Under that programme, state property was sold very cheaply to well-connected businessmen who became known as "oligarchs". "We have a different country now, a different president, a different government that cannot allow what happened then," he said.

☆ Factbox: Why is Georgia in turmoil over a "foreign agents" law?
▼ + stars: | 2023-03-09 | by ( Jake Cordell | ) www.reuters.com time to read: +6 min

TBILISI, March 9 (Reuters) - Ruling lawmakers in the South Caucasus country of Georgia on Thursday scrapped plans to introduce what critics called a Russian-inspired "foreign agents" law after two days of intense street protests in the capital Tbilisi. Here is a guide to what's going on:WHAT IS THE PROPOSED 'FOREIGN AGENTS' LAW? - Swathes of Georgian civil society, including election monitors, corruption watchdogs and independent media outlets would have been covered by the law. - Rights groups say the "foreign agent" tag is a designed to make it easier for the government to discredit its opponents. - It says it is modelled on the U.S. 1938 "Foreign Agents Registration Act", which primarily covers lobbyists and organisations directly working for or under the control of foreign governments.

In a statement that did not name Kolomoiskiy, the SBU published the same photographs, but with the person's face blurred out. If someone is not ready for change, then the state itself will come and help them change," Arakhamia wrote on the Telegram messaging app. The head of the State Bureau of Investigation said the law enforcement action was "only the beginning". The oligarchs took control of swathes of industry during the post-Soviet privatisations of the 1990s and wield influence to this day. Reporting by Olena Harmash; writing by Tom Balmforth; editing by Timothy Heritage and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

☆ Adani’s buy now, pay later fundraise could sting
▼ + stars: | 2023-01-26 | by ( Una Galani | ) www.reuters.com time to read: +4 min

HONG KONG, Jan 26 (Reuters Breakingviews) - Gautam Adani is on a mission to win public acceptance for his eponymous group. The first stage of a $2.4 billion stock sale by his flagship Adani Enterprises (ADEL.NS) entity has won over anchor investors, including the well-regarded Abu Dhabi Investment Authority. They are picking up roughly $734 million of stock in India’s largest follow-on issue of new shares by a private sector company. But those of other Adani group companies including Adani Transmission (ADAI.NS) and some U.S. dollar bonds at Adani Green Energy (ADNA.NS) and Adani Ports (APSE.NS) sold off sharply. For Adani investors, buy now, pay later could take on an awkward new meaning.

☆ Unemployment among Saudi citizens increases to 9.9% in Q3/22
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Dec 29 (Reuters) - Unemployment in Saudi Arabia among citizens increased to 9.9% in the third quarter, up 0.2 percentage points from the previous quarter but the overall unemployment rate remained unchanged at 5.8 percent, data released on Thursday showed. Unemployment in this category fell to 20.5% in Q3 from 21.9% in the year-ago period, making up 37% of the Saudi labour force. Expansion of the private sector is a key pillar of the government strategy, with a wide-ranging programme of privatisations and other government-supported initiatives to spur growth. The latest data showed that 93.3% of unemployed Saudis would accept jobs in the private sector. Historically, the public sector has been the principal employer of citizens in Saudi Arabia.

"I think the best answer (can be seen) in Israel ... developing their national industry for their armed forces. But they also signal how the Russian invasion has galvanised Ukraine into radically hardening its security posture. "We have an idea to also have Ukrainian 155mm systems," Reznikov said, referring to a standard calibre of NATO artillery. Many of the largest producers then lost their biggest customers, Russian defence firms, after relations between Kyiv and Moscow became openly hostile after Russia's annexation of Crimea in 2014. In his interview, Reznikov said the takeover of stakes in key strategic companies was part of Kyiv's broader defence push.

☆ Greece gets two binding bids for Alexandroupolis port
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

ATHENS, Sept 22 (Reuters) - Greece received two binding bids for a majority stake in its northern port of Alexandroupolis, the country's privatisations agency HRADF said on Thursday. The bidders for a 67% stake in the port were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture of Black Summit Financial Group, Euroports, EFA Group and GEK Terna (HRMr.AT), the agency said in a statement. Register now for FREE unlimited access to Reuters.com RegisterThe bidders were among four investors that had been shortlisted last year for the sale. In a separate announcement after unsealing their bids on Thursday, the agency said it has asked all three bidders to raise their offers. Register now for FREE unlimited access to Reuters.com RegisterReporting by Angeliki Koutantou; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

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