Economy

Italy lowers deficit in revised budget to avoid EU sanctions

Dec 12, 2018

Italian Premier Giuseppe Conte has presented a revised budget to the European Union that proposes a lower deficit than an earlier version in a bid to avoid costly sanctions

Hungary: Lawmakers OK labor code changes seen as 'slave law'

Dec 12, 2018

Hungary's parliament has approved amendments to the labor code that trade unions and opponents have criticized as "slave law" benefiting employers

IMF warns Italy's spending plan makes country vulnerable

Nov 13, 2018

The International Monetary Fund is warning that Italy's plan to sharply increase spending carries "substantial" risks and would leave the country vulnerable to market turmoil

Eurozone economy seen slowing through to 2020

Nov 8, 2018

The European Union expects economic growth across the 19-country eurozone to slow down over the coming years amid rising trade tensions around the world and higher oil prices

Italy stands firm against EU in budget dispute

Oct 22, 2018

Italy is standing firm in its plans to ramp up public spending, keeping alive a dispute with the European Union, which is worried the budget would increase the country's high debts.

Fitch raises Cyprus' credit rating to investment grade

Oct 19, 2018

International agency Fitch has raised Cyprus' credit rating by one notch to BBB-, elevating the Mediterranean island nation back into investment grade nearly six years after a financial crisis that drove it to the brink of bankruptcy

The Latest: EU official tries to calm Italian budget dispute

Oct 19, 2018

The EU's budget chief says that the European Commission won't interfere with Italy's economic policies and called for disagreements over the draft budget to be resolved in an "intelligent and serene way.''

The Latest: EU voices concerns over Italy's budget deficit

Oct 18, 2018

The European Commission has chastised Italy for a spending plan that will triple its deficit from what was previously agreed, calling the deviation "unprecedented in the history" of the EU's stability and growth compact

EU chief plays down trans-Atlantic trade rift concerns

Oct 18, 2018

European Commission President Jean-Claude Juncker is playing down trans-Atlantic trade tensions, after U.S. Commerce Secretary Wilbur Ross accused the EU of dragging its feet in exploratory trade talks

European and Asian leaders to boost ties, trade, security

Oct 18, 2018

After failing to reach a breakthrough on Britain's divorce terms from the European Union, EU leaders are rolling straight into another summit Thursday, this one aimed at forging closer links with Asia

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