Italy on Thursday pledged Tunisia a host of investments and help negotiating an International Monetary Fund bailout as the European nation seeks to stem the number of migrants arriving from North Africa, the Associated Press reported. Foreign Minister Antonio Tajani outlined Italy’s efforts and pledges during a meeting with his Tunisian counterpart, Nabil Ammar, who insisted that Tunisia has seen growing numbers of African migrants arriving from the Libyan border and needs economic help.

Italian Prime Minister Giorgia Meloni's party has presented a bill in parliament to separate retail and investment banks in a move that, if approved, would force a radical overhaul of the country's banking sector, Reuters reported. The proposal by the Brothers of Italy (FdI) party comes in the wake of the collapse of U.S. tech lender Silicon Valley Bank (SVB) and the emergency takeover of Credit Suisse by banking rival UBS, which raised fears of systemic stress that could lead to more bank failures.

Italian Premier Giorgia Meloni’s government is preparing a new package worth €4.9 billion ($5.3 billion) that extends support to low-income families while weaning others off aid, Bloomberg News reported. The money won’t require extra deficit spending by tapping a €21 billion reserve already set aside in the budget, as well as reaping the benefit of higher-than-expected economic growth, said the people, who declined to be named as discussions over the bill are ongoing.

Italy is preparing a new package of measures worth at least 5 billion euros ($5.5 billion) to help businesses and families cope with costly energy bills and plans to unveil it next week, two government sources told Reuters on Thursday. The right-wing administration led by Prime Minister Giorgia Meloni earmarked over 21 billion euros in its 2023 budget to soften the impact of energy costs on the euro zone's third largest economy in the first quarter of this year.

Italy's Economy Minister Giancarlo Giorgetti is closely watching market developments following the collapse of the Silicon Valley Bank (SVB), the ministry said on Monday, adding that the European Union should act quickly to shore up banks if needed, Reuters reported. "We appreciate the timeliness with which the U.S. authorities intervened and trust that, if necessary, European authorities will intervene with the same timeliness, assessing the implications for the conduct of monetary policy and financial stability," the economy ministry said in a statement.

Italy posted firm economic growth of 3.7% last year but the budget deficit far exceeded official forecasts due to the cost of tax incentives for green buildings, national statistics bureau ISTAT reported on Wednesday, Reuters reported. Growth slowed from 7.0% (upwardly revised from 6.7%) in 2021 but it was in line with the government's most recent projection, as the euro zone's third largest economy held up better than expected during the first three quarters.

Italy is close to clinching a deal with European Union competition authorities to reintroduce a scheme under which the state provides guarantees to help banks offload bad loans, Reuters reported. Rome has been working to renew the "GACS" scheme, which expired in June, while also tightening the terms under which the state provides guarantees to investors who buy bad bank loans repackaged as securities. Discussions with Brussels are at a very advanced stage and the terms have been for the most part agreed, the four sources briefed on the matter told Reuters.

Deutsche Lufthansa AG said it aims to buy a minority stake in ITA Airways, seeking to advance an industry consolidation that would give the German airline a stronger foothold in a major European aviation market, Bloomberg News. reported. The German carrier didn’t disclose financial details, or lay out the size of the stake it wishes to buy in the successor of Alitalia SpA. Lufthansa wants to buy as much as 40% of ITA in an initial step and subject to negotiations.

Italian Economy Minister Giancarlo Giorgetti on Monday called for a common European Union approach to support competitiveness and protect strategic production, in response to the massive subsidies in the United States' Inflation Reduction Act (IRA), Reuters reported. The EU fears that the $430 billion IRA scheme, with its generous tax breaks for domestic production of energy sector components, may lure away EU businesses and disadvantage European companies, from car manufacturers to makers of green technology.

Italy is set to toughen regulation of digital assets and expand taxation on crypto trading from 2023, following similar moves by countries such as Portugal, Bloomberg News reported. A provision in the country’s proposed 2023 budget plans to extend a 26% levy on capital gains to digital assets for profits larger than 2,000 euros ($2,062.3). Digital coins and tokens so far have been treated as foreign currency by Italy’s tax authorities, which implied a lower taxation.