Qatar wagers on Italy. – A billion euro to support the growth of Made in Italy exports. Italian Prime Minister Mario Monti flew to the Middle East last week and sealed an agreement with the sovereign funds of Qatar for joint ventures in industrial groups that are strategic for the Italian economy. The day after the announced, the move was reported on by a number of foreign dailies (November 19 and 20 in the Financial Times – Qatar to invest €1bn in Italian groups *;New York Times – With Italian Fund, Qatar Again Aids Europe; La Vanguardia – Qatar invertirá 1.000 millones en Italia *; China Post – Italian Premier Monti seals investment deal worth US$1.27 billion with Qatar). The “IQ Made in Italy Venture” being formed will include – along with Qatar’s participation – the Italian Strategic Fund of the Cassa Depositi e Prestiti (CDP), which is willing to add another billion euro. And the Financial Times discussed the new activity of CDP in a number of key sectors for Italy’s economy (November 19, Italy’s CDP steps out of the shadows *).
Italy’s credibility – According to the foreign press, Italy’s ability to attract new financing is the result of the reforms implemented over the last year. While Le Figaro and El Pais summed up the events of the last twelve months under the leadership of Mario Monti, called providential (November 19 Mario Monti, l’homme providentiel de l’Italie*; November 17 – El Gobierno de Monti cumple un año y celebra haber salvado Italia y Europa), the Spanish economic paper Expasnsion analyzed the Italian financial sector, where – despite the crisis – balance sheets met market expectations (Los grandes bancos italianos cumplen con las expectativas)
The automotive industry and icons of style – The spotlight was shining once again on Fiat. Last week, the economic press focused on the steps being taken in the fusion of industrial vehicles of Fiat Industrial e Cnh. First on November 19 and 20, the negotiations were reported on in the Financial Times – Fiat Industrial/CNH – carrot and stick * and Wall Street Journal – Fiat Industrial Sweetens Offer for CNH Global *. Then, on November 22 there were new articles on the upcoming agreement in the Financial Times – Fiat a step closer to CNH Global buyout * and Washington Post – CNH advisers recommend that board accept Fiat Industrial’s sweetened merger offer). But the foreign press also raved over the style of the Fiat 500. France’s La Tribune celebrated the millionth caro of this “fashion phenomenon” (November 19 – Fiat fête sa millionième 500, un vrai phénomène de mode, et vise une année record) and the Wall Street Journal announced the new versions of the model, with an electric Fiat 500 coming out next year (November 19- Fiat to Expand 500 Lineup with Electric, Larger Versions).
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