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Business 28 May 2013 | 12:00 AM

EU seen lifting budget procedure against Italy this week

BRUSSELS: The European Commission will recommend lifting tight controls on Italy’s public spending imposed in 2009 when Rome breached the European Union’s deficit ceiling of 3% of gross domestic product, an EU source said.

Business 20 Jun 2012 | 12:00 AM

Italy wants euro rescue funds to buy its debt

LOS CABOS, Mexico: Italy put forward a proposal at a G20 summit in Mexico on Tuesday for the euro zone's rescue funds to start buying the debt of distressed European countries, and the idea is expected to be discussed at a meeting of leaders in Rome on Friday.

Business 29 Jun 2012 | 12:00 AM

Battle over Spain, Italy rescue erupts at EU summit

BRUSSELS: Italy and Spain, battling searing market pressure in the euro zone's widening debt crisis, blocked agreement on measures to promote growth at a European Union summit on Thursday to demand urgent action to bring down their borrowing costs.

Business 25 Mar 2019 | 12:00 AM

Xi recruits Italy populists for global spending plan

ROME: Chinese President Xi Jinping recruited Italy’s populist government into his global Belt and Road development project, with the signing of an accord that has sparked worries in the US and European Union over the Asian power’s push for economic domination.

Business 24 May 2011 | 12:00 AM

Italy moves to trim deficit

ROME: Italy will bring forward to next month plans for slicing 35 billion-40 billion euros (US$50bil-US$56bil) off its budget deficit, government sources said yesterday, moving to reassure markets after a credit rating warning.

Business 25 Dec 2005 | 12:00 AM

Ex-EU commissioner Monti says he doesn't want Bank of Italy job

Former EU competition commissioner Mario Monti, a top contender to take over the embattled Bank of Italy, stepped out of the running Saturday saying he had other plans.

World 01 Mar 2013 | 12:00 AM

Italy 2012 deficit above target at 3 percent of GDP, debt hits record high

ROME (Reuters) - Italy's fiscal deficit fell to 3.0 percent of gross domestic product last year, above the government's most recent target and bang on the European Union's 3 percent ceiling, data showed on Friday.

Business 17 Jul 2012 | 12:00 AM

Moody's cuts Italy banks, companies ratings

MILAN: Moody's cut the credit ratings of a string of Italian banks on Monday, bringing the country's top lenders in line with a downgrade to Italy's sovereign rating last week, as well as lowering ratings for companies and local government authorities.

Business 22 Nov 2018 | 12:00 AM

Even Italy’s most loyal bond buyers are getting cold feet now

LONDON: Italy could once rely on a solid base of domestic buyers for its bonds, but even they seem to be turning their backs now.

Corporate News 04 Oct 2018 | 12:00 AM

Italy fetches US$7.6bil in 5G airwaves auction

Prices of some of the most coveted airwaves soar to records