Money Buzz! Europa

Category: Milan

  • The House Price Index in Italy increased by 3.1% in Q2 2020

    The House Price Index in Italy increased by 3.1% in Q2 2020

    In the second quarter of 2020 the House Price Index increased by 3.1% compared with the previous quarter and by 3.4% compared with the same quarter of the previous year (it was +1.7% in the first quarter).

    The increase on annual basis of the House Price Index, was due to either the prices of new dwellings (+2.7%) or those of existing dwellings (+3.7%), both of them accelerating in comparison with the previous quarter (they were +1.0% and +1.9% respectively).

    The increase of the House Price Index occured in a context of sharp contraction in sales volumes (it was -27.2% the rate of change on annual basis registered for the residential sector in the second quarter of 2020 by the Observatory of Real Estate Market belonging to Tax Office).

    The strong growth in prices of residential property consolidated the trend started in the second half of 2019 and it was referred to contracts signed between April and June but whose conditions were mostly established before the lockdown.

    The drastic drop in volumes of sales involved the first part of the quarter and it was largely reabsorbed in June, without prefiguring a generalized and persistent decline of the demand such as to influence the short term evolution of prices.

    The increase on quarterly basis in the House Price Index (+3.1%) was due both to the prices of new dwellings and to those of existing dwellings, that increased by 2.0% and by +3.3% respectively.

    The increase of the House Price Index on annual basis involved all geographical areas. In North-West and North-East it showed wide increases (+5.5% and +4.1% respectively) followed by South and Islands (+2.3%), whereas Center recorded a lower growth rate (+0.9%).

  • IGD shopping centers in Italy, sales up 4.2% in August 2020

    IGD shopping centers in Italy, sales up 4.2% in August 2020

    IGD – Immobiliare Grande Distribuzione, announces that the performances at IGD’s shopping centers continue to recover, with retailers’ August sales at the Italian shopping malls up 4.2% compared to the same period of the prior year.

    Footfalls maintain a growth trend month-over-month (August was 12.6% lower than in 2019 and the figures for the first half of September show further improvement) and the average ticket continuing to rise (+19.1%).

    Among the various merchandise categories, the performances of electronics and household goods were particularly positive, rising +10.6% and +15.0% against August 2019, respectively.

    Other categories, like restaurants and services are recovering, but continue to be penalized also by contingent factors like the widespread use of smart working and the impossibility of organizing large events inside shopping centers.

    Lastly, particularly noteworthy is the 9.6% increase posted by clothing, one of the most prevalent categories of merchandise found in IGD’s malls.

  • Prysmian launched the first fibre-optic network with 90% recycled plastic

    Prysmian launched the first fibre-optic network with 90% recycled plastic

    Prysmian announced its support to the Dutch operator KPN in a pilot project involving a fibre-optic network containing 90% recycled plastic.

    This solution uses the Sirocco HD 96f cable, launched by the group at the beginning of this year, and thinner Easenet tubes.

    With its 4.5-mm diameter cable in a 10-mm sleeve instead of the conventional 6-mm cable in a 14-mm sleeve, it guarantees an approximately 50% reduction in the volume of plastic used.

    Thanks to the smaller diameters, a greater length of cable can be supplied on a single reel, thus significantly reducing costs in terms of transport, storage, and packaging.

    The pilot projects will be developed in the Netherlands, in Buitenpost (Friesland) and Nijmegen.

    KPN will be the first telecommunications firm in Europe to use the new Prysmian cable concept to install connections for its customers.

  • Italian industrial turnover, up 8.1% in July 2020

    Italian industrial turnover, up 8.1% in July 2020

    In July 2020 turnover index increased by 8.1% compared to the previous month (+9.0% the domestic market and +6.5% in non-domestic market), says Istat.

    The average of the last three months rose by 11.1% compared to the previous three months (+14.1% in domestic market and +5.7% in non-domestic market).

    The industrial new orders index increased by 3.7% compared to June (+1.3% in domestic market and +7.4% in non-domestic market) and the average of the last three months rose by 14.8% compared to the previous three months (+21.6% in domestic market and +5.9% in non-domestic market).

  • LoJack Italia AI to work as a ”virtual technician” for Maldarizzi Automotive

    LoJack Italia AI to work as a ”virtual technician” for Maldarizzi Automotive

    All FCA, BMW, MINI and Mercedes-Benz vehicles sold by Maldarizzi will be installed with LoJack Connect, giving customers the option to enable the Maldarizzi Business Development Center (BDC) to function as a ”virtual technician” by monitoring vehicle diagnostics.

    Maldarizzi’s long-term rental customers will also have the option to install LoJack Connect and enable the Maldarizzi BDC virtual technician. 

    By alerting the motorist to potential maintenance issues that often result from exceeding mileage thresholds, low fluid levels, tire wear and tear, and more, the Maldarizzi BDC can offer preventative services to avoid unnecessary breakdowns or more costly repairs.

    The LoJack Connect App allows the driver to track the car’s location, monitor battery levels, view trips and review driving behavior.

    Maldarizzi customers can also receive notifications relating to routine or predictive maintenance and also provide notice of approaching deadlines for the payment of road tax, car insurance, financing installments, and other vehicle-related preventative maintenance.

    In the event of theft, the driver can contact the LoJack 24/7 Command Center and send a photo of the theft report via a smartphone to quickly start the recovery process.

    If the battery is disconnected by the thief or the car is moved with the engine off, the customer will receive an alert.

    How the system works if a crash happens

    In the event of a crash, LoJack Connect’s CrashBoxx feature will alert the LoJack 24/7 Command Center and identify the severity of the crash event.

    The Command Center operator will contact the driver, notify emergency response if life-saving support is needed, and conduct an initial assessment of the incident.

    If repairs are needed, Maldarizzi’s BDC will contact the customer to offer mechanical assistance and detailed accident reconstruction information to expedite repairs and the insurance claims process.

  • Italy is the most most popular Ryanair destination for Erasmus students

    Italy is the most most popular Ryanair destination for Erasmus students

    Ryanair and the Erasmus Student Network celebrated today, 15 September, the launch of their fourth year partnership.

    This partnership offers Erasmus students a dedicated ESN booking platform on the Ryanair.com website, where they can avail of 10% flight discounts on 4 one-way flights and a free checked-in bag with every flight booked.

    Italy and Spain are the most popular destinations over the last three years with over 95.000 bookings made on flights to Italy and 80.000 to Spain.

    Erasmus Student Network include people from over 500 Universities across almost 50 countries.

  • Italy: EIB lends €500m to the Lazio Region for post COVID-19 recovery

    Italy: EIB lends €500m to the Lazio Region for post COVID-19 recovery

    A wide-ranging collaboration between the bank of the European Union and the Lazio Region will lead to funding of €500m in all production sectors in the coming years.

    The first operation concerns the Framework Agreement for €300m worth of loans to the Region over the next four years, which has already been signed.

    On the basis of the Agreement, projects aimed at combating climate change, preventing and mitigating risks from hydrogeological instability, improving, building and upgrading public urban and regional infrastructure, and protecting the environment will be eligible under the Regional Multiannual Programme.

    Emergency measures to tackle the COVID-19 pandemic could also be financed in order to contribute significantly to the economic recovery.

    The loans can have maturities of up to 25 years, with a five-year grace period. In addition to financing operations, this cooperation will also enable the Region to benefit from the EIB’s free advisory services and technical assistance.

    This advisory support is already being provided in the preliminary phase of projects for energy efficiency of public buildings and sustainable mobility.

    €200m in partnership with banks for SMEs and mid-caps

    A second operation, which is currently being finalised, is based on initial EIB financing to the Region for projects launched by SMEs (up to 250 employees) and mid-caps (250-3 000 employees) in all production sectors, again with a special focus on investment to tackle the consequences of the COVID-19 pandemic.

    The credit line will be onlent to companies in the Lazio region active in all economic sectors via three intermediary banks selected by the Region following a public tender: UniCredit, BCC Roma and Banca Popolare di Sondrio.

    The three banks will double the EIB’s €100m to a total of €200m, which will benefit an indicative number of 400 businesses based in the Region.

    Loan maturities will be 12 years for private firms and 15 years for investments carried out by public-private companies, with a three-year grace period.

  • iGenius launches the virtual advisor crystal.ai to the U.S. market

    iGenius launches the virtual advisor crystal.ai to the U.S. market

    Following 20 months of growth across Europe, iGenius, the creator of crystal.ai, a virtual advisor for business data, announced its expansion into the U.S..

    This market expansion coincides with the early access launch of the new crystal.

    As the CEO moves to the U.S. and opens a New York City office, the company will invite select companies to become early access users for the new crystal.

    Crystal is an augmented analytics advisor that combines sophisticated understanding of business data and jargon with a seamless conversational and humanized user experience.

    The platform allows any user, regardless of analytics training, to extract value from their business data stream and receive direction when making data-driven decisions.

    Putting siloed and complex data into one conversational interface, crystal answers questions and gives data-based insights via voice or easy-to-read data stories.

  • UniCredit and the European Investment Bank, 200 million euros for SMEs

    UniCredit and the European Investment Bank, 200 million euros for SMEs

    European Investment Bank will allocate 200 million euros to UniCredit, to lend in turn to SMEs (companies with up to 250 employees) and mid-caps (up to 3.000 employees).

    The new credit line is designed to tackle the current emergency and can be used to fund new investment projects over periods of up to five years and to cover working capital needs.

    The funding is intended for companies all over Italy, in all production sectors: agriculture, handicrafts, industry, commerce, tourism and services.

    The EIB funds can be used for projects with individual costs of up to 25 million euros, and cover 100% of costs not exceeding 12.5 million for each project.

    UniCredit and the EIB have agreed to apply extraordinary eligibility criteria to this credit line for companies.

  • IGD: almost 90% of the footfalls pre-lockdown was recovered

    IGD: almost 90% of the footfalls pre-lockdown was recovered

    IGD – Immobiliare Grande Distribuzione, announces that the footfalls in its Italian shopping centers continue to show continuous growth.

    In August 2020, almost 90% of the footfalls pre-lockdown was recovered (-12.7% compared to the same month 2019).

    On the last day of the last month, Monday, 31 August, the performance was basically in line with the prior year (-2.2%).

    There was also a constant increase in footfalls week after week: compared to the footfalls recorded in the first week after the easing of the main restrictions (18-24 May), the number of people who decided to go shopping physically in IGD’s centers rose by 35%.

    Also, roughly 99% of the businesses opened before the lockdown have resumed operation inside IGD shopping centers.

    IGD has a real estate portfolio valued at circa €2,322.62 million at 30 June 2020, comprised of 25 hypermarkets and supermarkets, 27 shopping malls and retail parks, 1 plot of land for development, 1 property held for trading and 5 other real estate properties, in Italy.

    Following the acquisition of the company Winmark Magazine SA in 2008 14 shopping centers and an office building, found in 13 different Romanian cities, were added to the portfolio.

  • Calligraphy is the focus of Alcantara’s new exhibit in Milan

    Calligraphy is the focus of Alcantara’s new exhibit in Milan

    “Out of the Blue, A Calligraphic Journey through Alcantara” opens next week in the Apartment of the Princes at the Royal Palace of Milan as a special feature of Milan Art Week.

    The exhibition showcases the work of six Chinese artists- Qin Feng, Qu Lei Lei, Sun Xun, Mao Lizi, Zhang Chun Hong and Wang Huangsheng – who have worked to combine the art of ancient calligraphy with avant-garde Alcantara material.

    One of the highest forms of artistic expression in China, the ancient discipline of calligraphy in the digital age continues to provide a vehicle for addressing topical issues as it connects them with the ancient past.

    Due to health concerns, the exhibition will be open to the public free of charge on a “by appointment” basis from Wednesday, September 9th through Sunday, October 11th. Milan Art Week takes place September 7-13.

    The Alcantara calligraphy exhibit will be on display in The Apartment of the Princes which occupies 10 rooms in the southwest wing of the Royal Palace.

  • Italy GDP decreased by 12.8 per cent in the second quarter of 2020

    Italy GDP decreased by 12.8 per cent in the second quarter of 2020

    In the second quarter of 2020 Italian Gross Domestic Product (GDP) decreased by 12.8 per cent to the previous quarter and by 17.7 per cent in comparison with the second quarter of 2019.

    Compared to previous quarter, final consumption expenditure decreased by 8.7 per cent, gross fixed capital formation by 14.9 per cent, imports and exports by 20.5 per cent and 26.4 per cent respectively.

    Compared to the second quarter of 2019, final consumption expenditure decreased by 13.7 per cent, gross fixed capital formation by 21.6 per cent, imports by 26.8 per cent, and exports by 33.1 per cent.

    The carry-over annual GDP growth for 2020 is equal to -14.7 per cent.