Italy passes $20 billion aid package focused on energy relief

2/5/2022 11:29:00 PM

Italy passes $20 billion aid package focused on energy relief

https://str.sg/wXqjROME (BLOOMBERG) - Italy approved a 14-billion-euro (S$20.4 billion) aid package focused on energy, as Prime Minister Mario Draghi said the country is committed to easing its dependence on Russian gas.The measure does not include additional deficits, the premier said, and Rome will extend tax breaks for energy-intensive industries.

The country will also raise taxes on energy companies' profits, the premier said.The Italian government has spent more than 20 billion euros this year to shield its economy from soaring energy prices and has taken dramatic steps to reduce its reliance on Russian supplies, which account for about 40 per cent of gas imports.

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Copy to clipboard https://str.LinkedIn ATHENS: Metro trains ground to a halt and ships were docked in ports as thousands of workers joined May Day rallies in the Greek capital to protest against soaring energy and food prices.commercial capital of Shanghai was dealt a blow on Monday (May 2) as authorities reported 58 new COVID-19 cases outside quarantine areas while Beijing pressed on with testing millions of its people on a May Day holiday few were celebrating.LinkedIn BENGALURU : Indian shares kicked off May on a tepid note, weighed down by losses in automobile and IT stocks, as investors cautiously awaited an expected rate hike by the U.

sg/wXqj ROME (BLOOMBERG) - Italy approved a 14-billion-euro (S$20.4 billion) aid package focused on energy, as Prime Minister Mario Draghi said the country is committed to easing its dependence on Russian gas. Police estimate that some 10,000 people marched in central Athens and gathered outside the Greek parliament over the cost of living that they say is becoming unaffordable. The measure does not include additional deficits, the premier said, and Rome will extend tax breaks for energy-intensive industries. Authorities did not comment on the new cases at a media briefing but members of the public weighed in online. The country will also raise taxes on energy companies' profits, the premier said. We will fight it, because the working class cannot survive any more," said Katerina Dekaristou, a teacher, standing outside the parliament. The Italian government has spent more than 20 billion euros this year to shield its economy from soaring energy prices and has taken dramatic steps to reduce its reliance on Russian supplies, which account for about 40 per cent of gas imports.10, while the S&P BSE Sensex fell 0.

The new measures come as the European Union debates an additional round of sanctions that would phase out Russian oil by the end of the year. The conservative government has subsidised power and gas bills to help cushion households and business at a total cost of 4 billion euros (US$4. "There is hope for May," said another Weibo user. More On This Topic .