Italy is positioning itself as a leader in the global space economy, with a strategic focus on innovation and investment.
The country has committed over 7 billion euros to advance its space sector, aiming to leverage its historical expertise and current capabilities.
Key initiatives include collaborations with the European Space Agency and national projects under the National Recovery and Resilience Plan.
The Italian government and industry leaders are working together to enhance the country's role in space technology, with significant contributions from regions like Lombardy and Piedmont.

The agricultural sector in Italy is undergoing a digital transformation, requiring a new wave of tech-savvy professionals.
With advancements like drones, electronic machinery, and precision irrigation systems, the demand for roles such as data analysts, blockchain experts, and drone operators is increasing.
Coldiretti estimates a need for 5, 000 new positions in the coming years.
These professionals will optimize operations, enhance crop yields, and ensure sustainability.
Despite significant investment growth, regional digital disparities remain a challenge.

In 2023, Conai's recycling and recovery activities in Italy generated a business volume of €15.5 billion, contributing €3.5 billion to the national GDP and supporting 35, 800 jobs.
The study by The European House Ambrosetti highlights the strategic role of Conai in promoting circular economy, reducing dependency on virgin materials, and enhancing competitiveness.
Italy leads in packaging waste management, recycling 75.3% of its packaging waste.
Conai aims for a 50% plastic recycling rate by 2024, ahead of the EU's 2025 target.
Challenges include the economic recognition of recycled materials and regulatory asymmetries.
Conai also introduces the ReMade Foundation for certification of recycled content.

Enel, in collaboration with Ansaldo, is initiating a feasibility study for the adoption of advanced third-generation Small Modular Reactors (SMRs) in Italy.
A new company will be established to focus on the adoption process, including technology selection, costs, and the potential for developing a domestic production chain.
The initiative aims to revive nuclear technology in Italy, previously halted by referendums, by leveraging smaller, cost-effective, and safer reactors.
The global interest in SMRs is growing, with various countries exploring this technology for its competitive energy production capabilities.

Banor Capital has successfully closed its second fund, Banor Special Situations II, raising 240 million euros to target real estate assets and mortgage credits in Italy, the UK, and Spain.
The fund has already invested 115 million euros across four projects, including a mezzanine loan for a London property and a senior loan for a villa complex in Mallorca.
Despite market uncertainties, Banor Capital sees promising opportunities in residential, hospitality, and student housing sectors.

The interruption of prescription in tax collection is influenced by the nature of the debt, with exceptions for amounts from final judgments, which always have a ten-year prescription period.
Taxpayers should contest expired tax claims promptly to prevent their consolidation.
The distinction between decadential and prescriptive terms is crucial, as the former cannot be interrupted.
The COVID-19 pandemic introduced specific suspension periods affecting these terms.
Understanding these nuances is essential for effective tax dispute management.

In 2024, Italy ranks sixth globally and first in Europe as a preferred destination for millionaires and ultra-wealthy individuals seeking new tax residencies.
Despite demographic challenges, Italy's appeal to high-net-worth individuals fleeing geopolitical tensions and unfavorable tax regimes, particularly from the UK, is on the rise.
The Ligurian coast and Milan are expected to attract 2, 200 new wealthy taxpayers, surpassing Switzerland, Greece, and Portugal.
The trend reflects a broader global shift in wealth migration, driven by the search for better lifestyles and safer environments.

The Italian tax authority has clarified that certain corporate restructuring operations, involving controlled realization and asymmetric demerger, do not constitute tax abuse.
Two recent rulings, 216 and 217, confirm that these operations, when executed without undue tax advantages, are legitimate.
The first ruling involves a complex reorganization to consolidate control within a family business, while the second addresses resolving shareholder disputes through share buybacks and demergers.
Both cases highlight the importance of strategic planning in corporate restructuring without triggering tax abuse concerns.

The 2024 Circular 20/E introduces significant changes to the definition of tax residency in Italy, emphasizing personal and familial relationships over economic interests.
This shift aims to resolve longstanding ambiguities and legal disputes by prioritizing where personal and family life is primarily conducted.
Despite this, the Italian Revenue Agency suggests that each case should be evaluated individually, considering both personal and economic factors.
The new approach challenges previous legal interpretations that favored economic interests, potentially altering how residency is determined.

This analysis examines a judicial decision regarding the application of the reverse charge mechanism in the trade of used precious items.
The Italian Supreme Court's ruling highlights the necessity of objectively verifying the substantial elements that justify treating finished goods as gold material under specific tax regulations.
The case involves a dispute between the tax agency and a company in the precious metals sector, focusing on the correct tax regime application.
The court's decision underscores the importance of distinguishing between goods intended for consumption and those qualifying for reverse charge, emphasizing the need for clear evidence in tax disputes.

Starting from financial statements beginning on June 22, 2024, large multinational companies and their branches must publicly disclose country-by-country tax information.
This follows the publication of Legislative Decree 128/2024, implementing EU Directive 2021/2101.
The decree amends Dlgs 139/2015, adding a new section mandating income tax reporting for certain companies.
Companies with net revenues exceeding 750 million euros over two consecutive years are required to comply, with some exceptions.
Reports must be filed within 12 months of the fiscal year-end and remain publicly accessible for five years.

The OECD's recent guidelines on the Global minimum tax (Pillar 2) have significant implications for securitization vehicles (SPVs). The traditional role of SPVs in refinancing loans while isolating credit risk is reaffirmed, but the potential impact of GloBE rules on SPVs, especially regarding consolidation and tax liabilities, is a concern.
The document suggests that SPVs should be structured to ensure minimal profit, thus avoiding substantial additional taxes.
However, national interpretations, especially in light of recent synthetic securitization approvals, may differ.
The Italian framework, for instance, allows SPVs broader operational scope, which may conflict with OECD's guidelines.
A careful assessment is needed to determine the applicability of GloBE to SPVs, balancing regulatory compliance with operational efficiency.

The EU has reached a political agreement on the VAT in the Digital Age (VIDA) package, which mandates online platforms like Airbnb to collect VAT on short-term accommodation and passenger transport services provided by non-VAT registered individuals or small businesses.
This reform aims to address competition distortions and VAT revenue losses.
The package also introduces cross-border e-invoicing and digital reporting requirements, with a phased implementation starting in 2025.
The directive outlines specific timelines for national law adjustments, with full compliance expected by 2030.

The recent legislative update introduces the dual materiality principle in corporate sustainability reporting, requiring companies to assess both their impact on sustainability issues and how these issues affect their financial performance.
This dual perspective encourages businesses to integrate sustainability into their strategies, aligning with the European sustainability reporting standards.
The approach necessitates a structured analysis of both impact and financial relevance, promoting transparency and accountability.

The European Union is tightening cash controls at its borders, targeting amounts equal to or exceeding 10, 000 euros.
Italy is aligning with this by expanding the definition of 'cash' to include prepaid cards, as part of a legislative decree under review.
This move aims to combat money laundering and criminal financing by redefining cash to encompass currency, bearer negotiable instruments, and non-nominal prepaid cards.
The decree mandates strict declaration requirements for cash entering or leaving the EU, with significant penalties for non-compliance.
Data privacy is maintained, with access restricted to authorized personnel, and data retention is limited to five years.

Industrie De Nora and Japan's Asahi Kasei have signed a memorandum of understanding to collaborate on the development and commercialization of small-scale electrolyzers for green hydrogen production.
These compact systems, designed to fit in smaller spaces, aim to serve industries that are challenging to decarbonize.
De Nora will leverage its upcoming Gigafactory in Italy to enhance its Dragonfly electrolyzer, while Asahi Kasei will utilize its global network for sales and support.
The partnership is driven by the rising demand for green hydrogen as a clean alternative to fossil fuels, with the market responding positively to the news.

Aepi has launched a support service aimed at enhancing the international presence of small and micro Italian enterprises, which make up 80% of Italy's industrial fabric.
This initiative, in collaboration with Simest, Ice, and the Microcredit Agency, provides financial tools, training, and professional consultancy to help these businesses navigate the complexities of international markets.
The service aims to level the playing field for smaller companies, allowing them to compete globally like larger firms.
Despite global challenges, Italian exports are expected to grow, with this initiative playing a crucial role in increasing the export share of small enterprises.

The World Trade Organization's latest data reveals Italy's historic export surpassing Japan in early 2024, highlighting significant shifts in global trade dynamics over the past decade.
External shocks like the pandemic and geopolitical tensions have disrupted traditional globalization models, affecting major economies.
While China and the US maintain strong positions, European countries, especially Germany, face declining export shares.
Italy, however, stands out with its robust export model driven by quality, innovation, and investment, challenging EU's stringent environmental policies.

Celebrating 20 years, the Gragnano Pasta Consortium has seen a remarkable expansion, with the number of IGP pasta producers more than doubling since 2004.
The production has nearly doubled, reaching 100 million tons annually, with a significant portion destined for export.
Despite economic challenges, the demand for high-quality Gragnano pasta remains strong.
The consortium continues to uphold traditional production methods while embracing innovation, as evidenced by diverse product offerings and strategic partnerships.

Sanlorenzo Yacht reports steady growth despite global economic challenges.
The company anticipates a 10% decline in the EU market and a 30-40% drop in the Asia Pacific region due to China's economic slowdown.
However, the Americas and Middle East show promising growth.
Sanlorenzo's focus on luxury yachts over 24 meters has buffered it from economic turbulence affecting smaller yacht markets.
The company continues to innovate with sustainable projects and strategic acquisitions, such as Nautor Swan, to enhance its luxury offerings.

The Italian Sea Group (Tisg) has reported a significant increase in profits for the first half of 2024, with net income reaching 29 million euros, more than double the previous year's figure.
Revenue rose by 14.2% to 189.4 million euros, and the EBITDA margin improved to 17.1%. The company, known for its luxury yacht brands, has an order backlog of 1.32 billion euros.
Despite recent media attention due to the sinking of the Perini Bayesian yacht, Tisg remains confident in its financial stability and growth prospects, having been admitted to the Star segment, enhancing its market visibility.

Greenvolt has finalized an €18.7 million agreement to sell a portfolio of 19 solar photovoltaic projects to Nuveen Infrastructure.
These projects, located across various Italian regions, are expected to reach the Ready to Build stage between late 2023 and 2025, collectively providing 153 MWp of solar energy.
This transaction aligns with Greenvolt's strategy to develop and sell solar projects, with a pipeline of 8.6 GW by the end of Q1 2024, aiming to sell over 500 MWp this year.

Vestas, a leading Danish company in the wind energy sector, is expanding its operations in Taranto, Italy, by establishing a hub for large offshore wind turbines.
The company plans to increase its workforce from 1, 700 to 2, 000 by 2025, with Manpower already recruiting additional technicians.
The V236 wind turbine blade, produced in Taranto, is notable for its impressive size and capacity.
Vestas has secured funding from Invitalia and a nine-year logistics platform concession from the Ionian Sea Port Authority to support its activities.
The initiative aligns with the strategic goals of the Taranto port and emphasizes sustainability.
Italian Deputy Minister Valentino Valentini highlights the importance of wind energy for Italy's energy independence and job creation.

The Lucca paper district, known for its tissue products, is focusing on expanding its production capacity through foreign investments.
With global competition from giants like Georgia Pacific and Procter & Gamble, local companies are pursuing acquisitions and green projects.
Sofidel, a leading player, has acquired Clearwater Paper Corporation's tissue division in the US, enhancing its market share.
Meanwhile, Lucart is partnering with Azzurra Capital to support its strategic growth plan.
The district also faces challenges such as labor shortages and space constraints.

Intesa Sanpaolo has launched an initiative to connect Italian startups with the dynamic entrepreneurial ecosystem of Silicon Valley.
By selecting twelve innovative startups from various sectors, the bank aims to provide them with international exposure and growth opportunities.
This effort is supported by a collaboration with Innovit, offering comprehensive training and networking experiences.
The initiative not only seeks to expand these startups' reach but also to attract investments to Italy, showcasing the country's technological and entrepreneurial talents.

Lutech Group has reported a 25% increase in revenue for the first half of the year, reaching 429 million euros.
This growth is attributed to both organic expansion and strategic acquisitions, including the creation of Lutech Digital Airport.
The company is also expanding its workforce, aiming to add 800 professionals by year-end, and is enhancing its international presence with a Global Competence Center in Albania.
Lutech is advancing its AI Factory project, leveraging expertise from the Leonardo supercomputer initiative.
The group has secured several key contracts, reinforcing its role in Italy's digital transition.

The IT consulting sector is witnessing significant activity as Quid Informatica, a software and IT consulting firm, is nearing the sale of a substantial equity stake.
Mediobanca is currently evaluating offers, with Equinox, the investment fund that entered in 2019, planning to exit.
Accenture, known for its strategic acquisitions in Italy, is a potential new entrant, alongside interest from private equity funds like Rivean Capital.
Quid Informatica has grown significantly, with revenues increasing from €30 million to over €80 million, and has expanded through strategic acquisitions.
The company recently partnered with Intesa Sanpaolo to support Isybank's new financial products.

Italcer has unveiled a groundbreaking 100% electric kiln in Castellón, Spain, marking a significant step towards sustainable ceramic production.
This kiln, powered predominantly by clean energy, matches the technical and aesthetic standards of traditional gas kilns while eliminating CO2 emissions.
The initiative, a collaboration with Systemfoc and the University Jaume I, aims to decarbonize the ceramic industry by 2050.
The kiln reduces energy consumption by 30%, cutting company costs by over 5%. Italcer plans to expand this technology to other factories, including those in Sassuolo, Italy, where they will also implement a CO2 capture and conversion project.

DeA Capital Real Estate Sgr, in collaboration with Palm Capital, has launched a new closed-end real estate investment fund named 'Palm Partners Italy I', aimed at investing in the Italian logistics sector.
The fund, fully subscribed by international long-term real estate investors, has made its first investment by acquiring land in Novara for a high-standard logistics facility.
The project, leased to an international logistics company, marks the fund's entry into the Italian market, with plans for further acquisitions.
The logistics sector in Italy is seen as strategic, with future growth anticipated.

Coelmo, a Naples-based company specializing in industrial and marine generators, has introduced a new line of ultra-compact marine generators at the Cannes Yachting Festival.
The launch includes the DM320 model, known for its compact size and efficiency, and plans for future models like the DM600 and DML2000.
Coelmo's generators are designed for tight spaces on boats and are controlled by advanced EOS panels.
With a strong market presence in 36 countries and a projected revenue of 60 million euros by 2024, Coelmo continues to innovate in response to evolving market demands.

Sonsub, a key player in underwater operations, has evolved from supporting divers in the 1980s to deploying advanced autonomous robots.
These robots, equipped with AI, operate independently for extended periods, significantly reducing costs and environmental impact.
Sonsub's technological advancements have expanded its services, including emergency management and marine biodiversity monitoring.
The company continues to innovate with its Hydrone platform, developing various drones for diverse underwater tasks.

A groundbreaking AI technology developed by the Rome-based startup Senseledge drastically reduces the time required for diagnosing lung, thyroid, and pancreatic cancers.
Traditionally, histological exams could take up to 21 days, but with the new AI-driven system, results are available in just two to three minutes.
This innovation, part of the Convergence project, is being certified as a medical device and is expected to hit the market within 18 months.
The technology, which uses a reagent called acridine, provides high-quality digital diagnostic images almost instantly, aiding in immediate surgical diagnoses.

Montefiore Investment, a pan-European private equity fund, has acquired a majority stake in the Italian Milani Group, a leader in electrical and mechanical systems for large commercial and tertiary real estate complexes.
Founded in 1964 by Giovanni Milani, the company has grown significantly under the leadership of his children, Beatrice and Oreste, reaching over 100 million euros in revenue.
The partnership aims to strengthen Milani's position in the industry, with Montefiore's support enabling growth through acquisitions.
The Milani family retains a significant share, and the current management will continue to lead the company.
Recent projects include the Olympic Village in Milan and the Gewiss Stadium in Bergamo.
The deal awaits regulatory approval.

Vection Technologies, an Australian company listed on the Sydney Stock Exchange, has acquired The Digital Box-QuestIt, an Italian SME specializing in generative AI and digital strategies, for 12 million euros.
This acquisition aims to integrate AI with 3D virtual reality to offer specialized solutions across various industries.
Vection plans to expand its market presence in the USA, Europe, and Australia, leveraging its immersive technology platforms.
The acquisition is expected to boost Vection's revenue to 45 million Australian dollars, with significant growth anticipated in the next fiscal year.

Banca Progetto has undergone a significant ownership change as Oaktree Capital Management sold its controlling stake to Centerbridge Partners.
This marks a new chapter for the bank, led by CEO Paolo Fiorentino, who aims to explore international expansion while maintaining a strong focus on the Italian market and SMEs.
The acquisition follows months of negotiations and a halted IPO plan.
Centerbridge's interest in Italian banking assets is longstanding, and this acquisition aligns with their strategic goals.
Banca Progetto plans to continue its growth trajectory by expanding its product offerings and leveraging Centerbridge's financial expertise.

Intermediate Capital Group, alongside several private equity funds, is preparing a bid for Demenego, a prominent optical retail chain with a strong presence in the Triveneto region.
Demenego, currently owned by Vam Investments, is undergoing an exploratory sale process expected to intensify by the end of September.
The acquisition could potentially merge Demenego with Vision Group, enhancing market consolidation.
Founded in 1960, Demenego has seen significant growth under CEO Alessandro Donadelli, expanding its network and revenue.
The company has also renewed agreements with fashion brands, strengthening its market position.

Ferretti Group is preparing for two strategic acquisitions to enhance its production capabilities, as announced by CEO Alberto Galassi at the Cannes Yachting Festival.
These acquisitions aim to internalize certain production processes, including the manufacturing of Wally sailboats.
Despite rumors of Weichai's potential exit from Ferretti's ownership, Galassi assures continuity with the new chairman, Jiang Kui.
The company is also navigating recent corporate changes and potential golden power implications.
Weichai remains a significant shareholder, with no immediate plans to alter its stake.

Eima 2024 in Bologna is set to showcase the future of sustainable agriculture with 1, 750 exhibitors, including nearly 700 international participants.
Despite a global decline in tractor sales and economic challenges, the event highlights the growing need for agricultural technology to meet the demands of a rising global population.
The exhibition will focus on innovations like AI and robotics, crucial for enhancing productivity and sustainability.
While current market trends show a downturn, optimism remains for future growth, particularly in emerging markets like Southeast Asia and Africa.

The collaboration between Italy and France aims to integrate regular immigrants into the workforce, with a focus on temporary employment agencies playing a crucial role.
Crit's acquisition of Openjobmetis is a strategic move to expand in Europe, leveraging shared business cultures and market similarities.
The partnership addresses skill mismatches and demographic challenges, emphasizing training and permanent employment to foster economic growth and social inclusion.

Starting October 16, Itabus, a long-distance bus company, will launch new routes to Ljubljana and Zagreb, marking its first international expansion.
This move is part of a broader European growth strategy that may include France, Austria, and Hungary by 2025.
The company aims to enhance intermodal travel by integrating its 100 buses with Italo's 51 high-speed trains.
Daily connections will link major Italian cities to these new destinations, with options for morning and overnight travel.
Additionally, Itabus will expand its network to include Rome's Fiumicino and Venice's Marco Polo airports, offering increased connectivity with 30 daily train+bus connections.

Wizz Air, the third-largest airline in Italy by passenger numbers, is set to launch direct flights from Milan to Abu Dhabi starting next June.
This expansion is facilitated by the introduction of the Airbus A321 XLR, a new long-range aircraft.
Despite challenges in the low-cost sector, Wizz Air remains committed to its business model, focusing on competitive pricing and efficient operations.
The airline plans further growth in Italy, including a new training center in Rome, reflecting its strategic investment in the region.