Page 9 - Italy

PFC partners with SACE to enhance cooperation between India and Italy

State-owned Power Finance Corporation (PFC) on Friday said it has become the first government firm to collaborate with SACE, an Italian export credit agency, to boost the cooperation between the two countries. PFC is partnering with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its 'Push Strategy' initiative, according to a statement. This proposed partnership will position PFC as the first government-owned entity in India to partner with SACE under this initiative. Through this structure, PFC will benefit from an 80 per cent guarantee from SACE, with HSBC acting as a coordinating bank, lead arranger and facility agent for the financing of up to 200 million euros. Further, the envisaged financing under the 'Push Strategy' will provide project owners across India an opportunity to access Italian technology and collaborate with Italian companies through business-matching activities. "PFC has always been at the forefront of exploring .

UniCredit 2023 results: Profit at 8.6 billion euros, stock up 10%

Shares in Italy's second-biggest bank jumped 10% to a nine-year high after the results and as it also upgraded its outlook for a year in which interest rates are expected to start declining

Vodafone in 'active discussions' about Italy deal as German recovery slows

The British group rejected a merger offer from rival Iliad in Italy last month in favour of pursuing other options

Italian ambassador's wife injured in fireworks, FIR against Goa hotel owner

The Goa Police has booked the owner of a resort after the wife of the Italian ambassador to India suffered a head injury due to fireworks set off from the beach-facing facility, an officer said on Saturday. The incident occurred on January 1 during the New Year celebrations at Ashvem beach in North Goa. "Police registered an FIR on Friday (February 2) after Honorary Vice Consul of Italy in Goa, Shrinivas Dempo, lodged a complaint. The case was registered under section 338 (Causing grievous hurt by act endangering life or personal safety of others) of the Indian Penal Code," the police officer said. The accused rashly and negligently allowed the launching of fireworks from the premises of the resort. Paola Ferri, wife of Vincenzo de Luca, the Ambassador of Italy to India and Nepal, suffered a head injury after she was struck by fireworks, as per the FIR. "We will record a statement of the victim and initiate further process. We are yet to arrest the owner of the resort," the officer

ChatGPT violated European privacy laws, Italy tells chatbot maker OpenAI

Italian regulators said they told OpenAI that its ChatGPT artificial intelligence chatbot has violated European Union's stringent data privacy rules. The country's data protection authority, known as Garante, said on Monday that it notified San Francisco-based OpenAI of breaches of the EU rules, known as General Data Protection Regulation. The watchdog started investigating ChatGPT last year, when it temporarily banned within Italy the chatbot that can produce text, images and sound in response to users' questions. Based on the results of its fact-finding activity," the watchdog said it concluded that the available evidence pointed to the existence of breaches of the provisions in the EU privacy rules. OpenAI has 30 days to reply to the allegations. It didn't respond immediately to a request for comment. The company said last year that it fulfilled a raft of conditions that the Garante demanded to get the ChatGPT ban lifted. The watchdog had imposed the ban after finding that some

Soccer-mad Italy now obsessed with Australian Open winner Jannik Sinner

Soccer-mad Italy has a new obsession. Jannik Sinner's performance on the tennis court has captured the country's attention. And not just for the way Sinner rallied from two sets down to beat Daniil Medvedev and win the Australian Open title on Sunday. Ever since Sinner reached the ATP Finals championship match at home in Turin and then played a leading role in leading Italy to the Davis Cup title on consecutive weeks in November, he's been taking over the headlines from soccer. "Jannik Sinner wrote a new page of history today that fills us with pride, Italian Premier Giorgia Meloni wrote on Facebook. It's an achievement worthy of a real champion. The Turin final was the most watched tennis match of all time on Italian television, with 6.7 million viewers. It wouldn't be surprising if Sunday's match turns out to have an even bigger audience, even though it was shown only on Pay TV, starting at 9:30 a.m., in Sinner's home country. It's a testament to the 22-year-old Sinner's clean-c

Italy's debt risk premium hits 21-month low as traders eye rate cuts

Italian bonds have benefited from investors' hopes that interest rates will fall sharply this year, reducing pressure on the euro zone's more indebted countries

Indian coffee exports could surge 10%, thanks to global price rally

Coffee exports in 2024 could jump to 298,000 metric tons from last year's 271,420 tons, said a Bengaluru-based dealer with a global trade house

US allies reluctant on Red Sea task force to counter Houthi rebel attacks

Two of America's European allies who were listed as contributors to Operation Prosperity Guardian - Italy and Spain - issued statements appearing to distance themselves from the maritime force

Cabinet agreement may grant 12-month residency to Indian students in Italy

The Union Cabinet granted approval for an agreement between India and Italy to promote mobility students, skilled workers, business professionals, and young talent

No place for Islam in Europe: Italy's Giorgia Meloni

Italy's PM Giorgia Meloni on Saturday said that Islamic culture and the values and rights of European civilisation have a "compatibility problem". Watch the videos to know more >

Italy road and airport operator Mundys explores India, Australia expansion

It has just acquired Autovia del Camino in northern Spain and won a tender to operate four new toll roads in Puerto Rico with a $2.85 billion bid

Italy drops out of China Belt and Road initiative that failed to deliver

Italy has formally withdrawn from China's global Belt and Road initiative that seeks to deepen relations with foreign countries through infrastructure investments, Italian media reported on Wednesday. Italian Premier Giorgia Meloni had previously signalled Italy's intention to withdraw from the agreement, which was up for renewal. The Milan newspaper Corriere della Sera reported that a letter with the formal notice had been delivered to Beijing in recent days. Meloni's office declined to comment on the report. Italy became the first G7 country to sign on to the initiative in 2019, when the populist, anti-establishment Five Star Movement party-led government promoted it as a way of increasing trade with China while getting investments in major infrastructure projects. Neither appeared. In the intervening years, Italy's trade deficit with China has ballooned from 20 billion euros to 48 billion euros ($21.5 billion to $51.8 billion.) And investments in Italian ports that were trumpeted

Italy exits Moody's junk danger zone in big win for PM Giorgia Meloni

Her budget then sent the spread between bonds of Italy and Germany - a key measure of risk in the region - to 210 basis points for the first time since January

EAM meets Italian Prez; discusses ways to advance strategic partnership

External Affairs Minister S Jaishankar has met Italian President Sergio Mattarella and other senior leaders here and discussed ways to further develop the bilateral strategic partnership in areas like defence, cyber security and counter-terrorism. Jaishankar, who was in Rome at the invitation of his Italian counterpart Antonio Tajani, concluded his four-day visit to Portugal and Italy on Friday. During their meeting, the Italian president reiterated his strong support for advancing bilateral ties and deepening India-Italy and India-EU linkages, the Ministry of External Affairs in New Delhi said in a Saturday press release. Taking to social media site X on Friday, Jaishankar said, "Valued his (Mattarella) guidance for the further development of our strategic partnership. In a volatile and uncertain world, the India-Italy relationship is a factor of stability." The minister also held a meeting with the Italian Defence Minister, Guido Crosetto, which focused on deepening strategic ...

Italy, EU's interest in Indo-Pacific is stabilising factor: Jaishankar

External Affairs Minister S Jaishankar on Friday welcomed Italy's and the European Union's "greater interest" in the Indo-Pacific region, terming it as a "stabilising factor" and underlining that in a globalised world, it is important for all to take an interest in every corner of the world. Addressing the Joint Session of the Senate's External Affairs and Defence Commission here, Jaishankar talked about how India sees the world today. "We see, very frankly, very difficult times ahead, very turbulent times ahead," said Jaishankar, who is here on a two-day official visit to Italy, his fourth as Foreign Minister to Italy in the last four and a half years. He said India was watching with increasing concern the evolving situation in the Middle East. "Obviously, all of us will have an interest in ensuring that there is no escalation. But it is definitely an issue of concern," Jaishankar said. In his address, Jaishankar also welcomed the greater interest shown by Italy and the European .

External Affairs Minister Jaishankar to visit Portugal, Italy from Tuesday

External Affairs Minister S Jaishankar will pay a four-day visit to Portugal and Italy from Tuesday with an aim to further bolster India's bilateral ties with the two key European nations. In the first leg of the trip, Jaishankar will visit Portugal on October 31 and November 1, according to the Ministry of External Affairs (MEA). The external affairs minister will be in Italy on November 2 and 3. "During the visit to Portugal, the external affairs minister will hold discussions with his counterpart Foreign Minister Joao Gomes Cravinho on the entire range of bilateral relations and on regional and multilateral issues of mutual interest," the MEA said. It said the minister is expected to meet the Portuguese leadership, members of the Portugal-India Parliamentary Friendship Group and the Indian community in Portugal. From Portugal, Jaishankar will travel to Italy. "The external affairs minister will meet his counterpart Foreign Minister Antonio Tajani, Minister of Defence and Minist

World Pasta Day 2023: Importance and types of pasta mostly eaten in India

World Pasta Day is a chance to celebrate the global adoration of this Italian dish, explore new pasta recipes, and the culinary traditions related to this versatile cuisine

Netanyahu meets Italian counterpart Meloni, Cypriot President Nikos

Meloni assured Netanyahu of Italy's support for Israel

India, Italy ink pact to expand ties with development of military hardware

India and Italy inked an agreement to expand their defence ties including for co-development and co-production of military platforms following wide-ranging talks between Defence Minister Rajnath Singh and his Italian counterpart Guido Crosetto in Rome. Singh is in Italy on the first leg of his two-nation tour. From Italy, the minister will be travelling to France. In a statement on Tuesday, the defence ministry said the focus of the talks between Singh and Crosetto on Monday was on defence-industrial cooperation and that the pact will help promote co-development, co-production and setting up of joint ventures. "The agreement will promote bilateral cooperation in varied defence domains, such as security and defence policy, research and development, education in the military field, maritime domain awareness, sharing of defence information and industrial cooperation, including co-development, co-production and setting up of joint ventures," it said. The signing of the pact is seen as