Italy Financial News

Dalmia Group firms have submitted a revised debt resolution plan for ₹1,100 crore of bank loans of Birla Tyres, which is undergoing insolvency resolution, according to people in the know. A person familiar with the new plan told ET that group companies of Dalmia Bharat have offered to repay about ₹300 crore of the outstanding loans of Birla Tyres. This is said to be three times their original offer to creditors.

The man behind the success of Vespa-maker Piaggio, Roberto Colaninno and one of Italy's best-known dealmakers, died at the age of 80, his investment company IMMSI said on Saturday. Till now, there has been no confirmation of the cause of death. He was known to be a central figure in the country's industrial landscape who managed to change the destiny of a number of failing firms.

Activist investor Starboard Value has taken a nearly 10% stake in Bloomin’ Brands, the parent company of restaurant chain Outback Steakhouse

By Crispian Balmer

By Amy-Jo Crowley, Emma-Victoria Farr and Milana Vinn

European Union nations are resisting an updated climate pledge showing the bloc is on course to over-deliver on emissions cuts ahead of COP28, in the latest sign of concern over the pace of the green transition. The European Commission, the bloc’s executive arm, is aiming to submit by September a revised pledge showing it’s on course to slash carbon emissions by 57% by 2030, according to a draft document seen by Bloomberg. But Poland, Lithuania, Hungary, Italy, Slovakia and Romania are concerned that the figure — higher than the 55% targeted under the bloc’s green deal — is too ambitious, according to people familiar with the matter.

₹6.45 lakh (ex-showroom). The distinct model, conceptualized and designed by Bieber himself, is now available for pre-order as a completely built unit (CBU) import in India. The limited-edition vehicle is equipped with the classic 150cc engine, now upgraded to meet the latest environmental regulations.

jewellery manufacturing facility in West Bengal. The manufacturing unit built with an investment of Rs 150 crore. The facility was inaugurated by Shashi Panja, minister of state Industries, commerce & enterprises, child development and Women Development & Social Welfare.

Netflix is gearing up for Fall 2023 with a notable array of upcoming films and series. Many of these offerings are set to debut or showcase at several renowned international film festivals. Here's a rundown of what, when and where.

₹3.69 crore, the mid-engine supercar was launched in March in India, after being delayed by nearly a year. The vehicle is said to be a "spiritual successor" to the 2004 MC12. The MC20 is Maserati's first car with an in-house engine in over 20 years.

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China has sparked strong backlash on social media due to its unusual policy of charging guests for an additional shower or bath. The policy came to light when a Chinese woman staying at the hotel discovered a sign announcing the extra charge, leaving her surprised. The hotel charges a hefty 2500 yuan (approximately Rs 28,850) per night, according to reports.

The CFA Institute canvassed 90,000 of its global membership and found that only 42% were in favour of central banks launching their own digital currency with 34% opposed to the idea and 24% having no opinion.

Lebanese Cabinet ministers say an offshore drilling rig has arrived at its destination in the Mediterranean Sea off Lebanon’s coast and will start its search for gas in the coming weeks

₹1,200-1,300 crore through an initial public offering (IPO). According to the Happy Forgings’s DRHP, the IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of up to 80.55 lakh shares by a promoter and a selling shareholder. Ludhiana-based Happy Forgings may also consider a pre-IPO placement of shares aggregating up to ₹100 crore.

By Valentina Za and Angelo Amante

electric vehicle later this week. Anticipation surrounds the reveal of this electric supercar, scheduled to take place on August 18 at the Monterey Car Week in California, United States. Building excitement prior to its global debut, Lamborghini has provided a glimpse of the approaching EV, set to be presented in its conceptual guise.

Italy is taking special measures to reduce the waiting time for Indians to get a Schengen visa. Italian Ambassador to India, Vincenzo de Luca, has said that Italian authorities are actively working to reduce the waiting time for Indian applicants seeking Schengen visas. Ambassador de Luca pointed out that Italy is presently faced with a substantial influx of Schengen visa applications, similar to other issuing nations, and they are striving to expedite the process to the best of their ability, SchengenVisaInfo.com reported. In an interview with Business Line, the ambassador mentioned that the number of Schengen visas granted to Indians during the first seven months of the current year has surged by 38 percent in comparison to the same timeframe of the previous year. He underscored that the current processing time for both business and tourist visas stands at 48 hours once the application is received.

Elon Musk and Mark Zuckerberg, the two tech giants engaged in another round of subtle verbal sparring. Zuckerberg posted on Instagram story, “Send me the location" along with the screenshot of Musk’s tweet where he had first challenged the Meta owner. Responding to this, the X-owner accused Zuckerberg of apparently not accepting the challenge.

Elon Musk and Mark Zuckerberg can’t seem to agree on whether and when to duke it out in a cage match. Still, Italian cities home to famous archaeological venues are jockeying to be the stage for an event that would bring massive global publicity. Musk, the chief executive of Tesla, set off the frenzy among Italian cities last week with a post on X, his social-media company formerly known as Twitter.

MILAN (Reuters) -Italian Prime Minister Giorgia Meloni on Monday took «full responsibility» for last week's shock decision to impose a one-off bank tax that has been blamed for causing lasting damage to her government's credibility with financial markets.