Kobakhidze: NGOs attempted revolutionary actions
Georgian Prime Minister Irakli Kobakhidze said during a press briefing in Adjara that some non-governmental organisations (NGOs) have engaged in anti-...
The European Commission is challenging Italy's use of "golden powers" in the banking sector, raising concerns over potential breaches of EU law and prompting a broader debate on investment screening rules across the bloc.
The European Commission has formally challenged Italy's application of "golden powers" legislation to banking sector deals, raising concerns over potential breaches of EU law. These powers allow the Italian government to block or impose conditions on corporate takeovers in strategic sectors, including banking, energy, and telecommunications.
Originally intended to shield critical assets from foreign takeovers, particularly outside the EU, golden powers were expanded during the COVID-19 pandemic. However, their use in the banking sector—where the European Central Bank already holds supervisory authority—has prompted scrutiny from Brussels.
The Commission has initiated an EU Pilot dialogue, seeking clarification on how Italy applies these powers, particularly as Rome prepares to conditionally approve UniCredit’s proposed acquisition of rival Banco BPM. If Italy fails to provide a satisfactory explanation, formal infringement procedures may follow.
Critics argue that the increased use of golden powers has added unnecessary bureaucracy for companies, raising legal costs and creating uncertainty. Meanwhile, the EU is reviewing its foreign direct investment screening framework to ensure consistent application across member states.
Rome, for its part, is awaiting clarity on any future EU reforms before considering amendments to its national legislation. The outcome could significantly shape how strategic investments are governed within the EU.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
Google said on Tuesday it would make £5 billion pounds ($6.80 billion) in new investments into Britain ahead of U.S. President Donald Trump's state visit to the country, which is expected to feature a flurry of business deals and partnerships.
The founding family of Italiana Petroli is close to finalising the sale of the oil refiner to the State Oil Company of Azerbaijan (SOCAR), in a deal that would give the Azerbaijani group control of one of Italy’s largest petrol station networks, three sources have said.
India's retail inflation (INCPIY=ECI) rose to 2.07% in August as food prices edged up, although it remained within the central bank's tolerance range for the tenth consecutive month.
Jaguar Land Rover (JLR) said Wednesday that it now believes “some data has been affected” after a cyberattack forced the company to shut down operations last Tuesday. Staff have been instructed to work from home since the incident.
Oracle co-founder Larry Ellison has overtaken Tesla Chief Elon Musk as the world’s richest person after a surge in the company’s stock lifted his net worth to $393 billion, according to the Bloomberg Billionaires Index.
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