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Italy set to unveil €40 bn of stimulus Published: 8:17 PM, May 20, 2021 29 02 2020 19 19 03 7965895 SHARE ROME: The Italian government is set to detail some €40 billion ($48.8 billion) of stimulus measures for the economy on Thursday, funding tax relief and grants to businesses forced to close by coronavirus lockdowns. The extra spending was already factored in to the government s public finance targets in April, and is set to drive the budget deficit to 11.8 per cent of national output this year, from 9.5 per cent reported in 2020. Rome s huge public debt, the second highest in the euro zone as a share of gross domestic product after that of Greece, is forecast by the Treasury to climb to 159.8 per cent of output this year, the highest level in Italy s post-war history. ....
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0 Comments Indian Oil Corporation Ltd (IOCL) has been fast diversifying into the production of alternative forms of energy in recent years. As part of its strategy, the company has teamed up with Israeli start-up, Phinergy, for the development of aluminium-air (Al-air) batteries, and the partners are gearing up to soon establish their manufacturing facility. “We’ll be setting up a plant. The MoU has already been signed and, very shortly, we’ll be locating the plant in India,” said Shrikant Madhav Vaidya, chairman, IOCL, at a web conclave organised by our sister publication Autocar Professional on Meeting Emission Challenges . The Indian and Israeli firms have created a JV called IOC Phinergy ....