Economy

UAE to Invest €38bn in Italy, Bolstering Strategic Ties
February 25, 2025
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UAE to Invest €38bn in Italy, Bolstering Strategic Ties

Italy and the UAE are set to deepen their strategic partnership with a planned €38.2bn investment by the UAE in Italy. The multi-sector deal, announced following the first state visit of a UAE president to Italy, will focus on energy, technology, defense, and security. Key projects include data centres, artificial intelligence, renewable energy, subsea activities, and rare earth minerals, along with initiatives to support African development and enhance regional connectivity through an undersea electricity cable in the Adriatic. The agreement, backed by over 40 new bilateral pacts, also aims to advance joint military production and bolster cybersecurity.

UK and India Relaunch Trade Talks in Delhi
February 25, 2025
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UK and India Relaunch Trade Talks in Delhi

The UK and India have resumed free trade negotiations nearly a year after they were paused due to political uncertainties in both countries. UK Business Secretary Jonathan Reynolds and Indian Commerce Minister Piyush Goyal met in Delhi to advance discussions on a balanced and ambitious trade deal aimed at unlocking new economic opportunities. Key issues include reducing tariffs on Scotch whisky, easing visa rules for professionals and students, and boosting bilateral trade, which currently stands at £41bn.

Greece Approves €1bn in Major Tourism Projects
February 23, 2025
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Greece Approves €1bn in Major Tourism Projects

The Interministerial Committee for Strategic Investments is set to green-light three major tourism projects in Greece with a combined budget of €1bn. The projects include a €475m luxury complex in Vlacheika opposite Hydra (managed by Hydra Rock), a €235m luxury resort and residential development on Megalonisos in the Petalioi island complex (to be branded Six Senses Megalonisos), and a €250m plan to develop Astakos into a premier mega-yacht marina and luxury destination.

Orbán Calls for Economic Breakthrough with Sweeping Tax and Housing Reforms
February 23, 2025
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Orbán Calls for Economic Breakthrough with Sweeping Tax and Housing Reforms

Hungarian Prime Minister Viktor Orbán has announced a series of bold measures aimed at revitalizing Hungary’s economy ahead of the 2026 national election. His government plans to launch a “100 new factories” initiative to boost employment, along with what Orbán described as “Europe’s biggest tax reduction programme.” The reforms include doubling tax breaks for families with children, introducing an income tax exemption for mothers with two or three children, and capping housing loan interest rates at 5%. Additional steps to rein in soaring food prices and expand student housing are also on the agenda, as Orbán seeks to balance growth, full employment, and fiscal responsibility.

St Pancras Unveils Plans for Direct Trains to Germany, Switzerland, and France
February 23, 2025
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St Pancras Unveils Plans for Direct Trains to Germany, Switzerland, and France

London St Pancras Highspeed, in partnership with Getlink, is set to expand its international rail connectivity, with proposals to introduce new direct routes from London to major European cities. The proposal aims to boost capacity from 1,800 to nearly 5,000 passengers per hour, offering competitive travel times of under six hours to destinations such as Cologne, Frankfurt, Geneva, Marseille, and Zurich. The move is expected to intensify competition in the cross-Channel market and drive low-carbon mobility

Türkiye and Italy Aim to Bolster Investment Partnership in High-Tech Sectors
February 18, 2025
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Türkiye and Italy Aim to Bolster Investment Partnership in High-Tech Sectors

Türkiye and Italy are set to deepen their investment cooperation in high-tech industries, with a focus on defense, aviation, and space. In a joint news conference in Istanbul, Turkish Industry and Technology Minister Mehmet Fatih Kacır and Italy’s Minister for Enterprises and Made in Italy Adolfo Urso highlighted the strategic value of this enhanced partnership. Key developments include the historic acquisition of Piaggio Aerospace by Turkish drone manufacturer Baykar, increased bilateral trade, and plans to leverage Türkiye’s technological advancements and dynamic workforce to attract further Italian investment.

Catalonia Unveils Plan to Boost Auto Sector and Dominate Spain's EV Scene
February 18, 2025
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Catalonia Unveils Plan to Boost Auto Sector and Dominate Spain's EV Scene

The Catalan government, led by President Salvador Illa, has unveiled a sweeping strategy aimed at transforming the regional automotive sector and accelerating the shift to electric vehicles. The plan, designed to mobilize €1.4 billion in public-private investment, includes a fivefold expansion of the charging network from 9,000 to 45,000 stations electrification of 90% of the regional public fleet, and incentives for individuals and companies to switch to emission-free vehicles.

Eastern Europe Boosts Minimum Wages as Germany Lags Behind
February 18, 2025
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Eastern Europe Boosts Minimum Wages as Germany Lags Behind

A recent study shows that statutory minimum wages have risen significantly in several Eastern European countries, with Romania and Bulgaria increasing their rates by 23% and 16%, respectively. In contrast, Germany saw only a modest 3.3% increase, ranking at the bottom of the EU for wage growth.

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