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Italy Approves 40-Bn-Euro Stimulus Package

Italy’s government on Thursday approved a 40-billion-euro support package for its struggling economy, including 100 million for ailing flag carrier Alitalia.
The eurozone’s third largest economy has been devastated by the coronavirus pandemic, although Prime Minister Mario Draghi expects growth to improve this year as more people receive vaccines and business activity picks up.
The support package, worth around $49 billion, includes 26 billion euros for businesses and self-employed workers who have been hammered by the worst recession since World War II.
The equally battered tourism sector is to get more than three billion euros in aid.
Alitalia, which has been under state-controlled administration since 2017 and is still struggling to pay wages, won yet another cash injection “for operational and management continuity”, according to a draft government decree seen by AFP.
The airline’s future depends on EU approval of a bigger bailout worth three billion euros that would create a new debt-free company to take over some of Alitalia’s assets.
“I think we will shortly find a solution to allow the launch of this company,” Economy Minister Daniele Franco said, before adding that he did not expect Alitalia to change its name, as initially demanded by Brussels.
After expressing concern last week for a record drop in Italy’s birthrate, Draghi also announced mortgage subsidies for people aged under 36 to help them buy a home and start a family.
Carlo Bonomi, president of the employers’ association Confindustria, called the measures adopted Thursday “important”, but said more was needed to get Italy’s economy back on track.
Last month, the government forecast gross domestic product (GDP) growth of 4.5 percent this year, after 2020’s record contraction of 8.9 percent — Italy’s worst recession since the second world war.
Draghi said “growth figures for this year will probably be revised upwards,” but stressed that a stronger recovery hinged on the success of Italy’s EU-funded 221.1-billion-euro recovery plan.
Since the coronavirus swept across Italy in February 2020, the government has allocated more than 130 billion euros to economic sectors shut down during the country’s lockdown periods.
As a result, public finances have taken a massive hit.
The government’s deficit is expected to balloon to 11.8 percent of GDP this year, compared with just 2.4 percent in 2019.
Public debt should hit 159.8 percent of GDP, the second-highest ratio in the eurozone behind Greece.
News
Eid-ul-Fitr: Oseni Urges Muslims to Uphold Ramadan Virtues, Calls for National Unity

As Muslims around the world celebrate Eid-ul-Fitr, marking the end of the holy month of Ramadan, the lawmaker representing Ibarapa East/Ido Federal Constituency in the House of Representatives, Engr. Aderemi Oseni has urged the Muslim faithful to uphold the virtues of Ramadan in their daily lives.
According to a statement on Sunday by his media aide, Idowu Ayodele, the lawmaker congratulated the Muslim Ummah on the successful completion of the month-long fasting and encouraged them to reflect on the values of sacrifice, self-discipline, and devotion to God, which Ramadan represents.
He emphasised that Ramadan is not only about fasting but also about fostering compassion, patience, and love for one another—values he described as crucial for national unity and development.
“As we celebrate this year’s Eid-ul-Fitr, I encourage my Muslim brothers and sisters to continue embodying the noble virtues of Ramadan. Let the spirit of sacrifice, empathy, and community service guide our actions beyond this season,” the statement read.
Oseni, who chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), also underscored the importance of national cohesion, urging Nigerians to work together to promote peace and stability. He called on leaders at all levels of government to implement policies that address economic challenges, security concerns, and infrastructural development.
He further reassured his constituents in Ibarapa East/Ido of his commitment to quality representation, pledging to continue advocating for policies that prioritise their welfare and development.
Oseni also appealed to religious leaders to use their platforms to preach unity and patriotism, stating that Nigeria’s progress depends on the collective efforts of its citizens in fostering tolerance and peaceful coexistence.
“Eid is a time of joy, reflection, and gratitude. Let us celebrate responsibly while remembering to extend kindness to the less privileged. May Almighty Allah accept our prayers and grant our nation lasting peace and prosperity,” he added.
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Eid-el-Fitr: Oyo APC Chieftain, Oladiran Alabi, Greets Muslims, Calls for Unity

A chieftain of the All Progressives Congress (APC) in Oyo State and former House of Assembly candidate for Ibadan South-West Constituency I, Hon. Oladiran Alabi, has congratulated Muslims on the occasion of Eid-el-Fitr, urging Nigerians to embrace unity and peaceful coexistence.
In a statement on Sunday, Alabi commended the Muslim faithful for their devotion and sacrifices during the holy month of Ramadan, stressing the need to uphold the values of love, tolerance, and compassion beyond the fasting period.
He said, “The end of Ramadan is a time for reflection, gratitude, and renewed commitment to the principles of Islam. I felicitate with my Muslim brothers and sisters and pray that Almighty Allah accepts their supplications and rewards them abundantly.”
Alabi also emphasised the importance of unity in addressing Nigeria’s socio-political and economic challenges, urging leaders and citizens alike to foster harmony irrespective of religious and ethnic differences.
“Our strength as a nation lies in our unity. It is imperative that we work together to promote peace and development. I call on all Nigerians to prioritise national interest above personal or sectional gains,” he added.
He further urged political leaders to implement policies that would improve the welfare of the people, enhance economic growth, and strengthen security across the country.
The APC stalwart prayed for a peaceful and prosperous Nigeria, wishing the Muslim community a joyous and spiritually fulfilling Eid celebration.
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Tinubu at 73: FERMA House Committee Chair, Oseni Hails President’s Leadership

…Says Tinubu’s policies shaping Nigeria’s future
The Chairman, House of Representatives Committee on the Federal Roads Maintenance Agency, (FERMA), Engr. Aderemi Oseni has congratulated President Bola Tinubu on his 73rd birthday, describing him as a transformative leader whose commitment to national development remains unwavering.
In a statement on Saturday by his media aide, Idowu Ayodele and made available to journalists in Ibadan, the lawmaker, who also represents Ibarapa East/Ido Federal Constituency in the House of Representatives, praised Tinubu for his visionary leadership and dedication to Nigeria’s progress. According to him, the President’s political trajectory and governance philosophy have laid the foundation for a more prosperous nation.
“President Tinubu’s contributions to Nigeria’s political and economic development are unparalleled. His leadership has inspired a new era of governance rooted in progressive ideals and economic transformation,” Oseni said.
The lawmaker highlighted the President’s role in fostering democratic growth, strengthening institutions, and implementing key economic reforms aimed at stabilising the nation. He added that Tinubu’s policies, particularly in infrastructure and road rehabilitation, are crucial to Nigeria’s long-term development.
Oseni commended Tinubu for prioritising road infrastructure, stating that a well-maintained road network is essential for economic expansion and national cohesion. He pledged his committee’s continued support in ensuring that FERMA’s projects align with the administration’s Renewed Hope Agenda.
Beyond infrastructure, the lawmaker lauded Tinubu’s economic policies, including efforts to attract foreign investments and promote industrialisation. He expressed optimism that the government’s initiatives would yield tangible results, urging Nigerians to remain patient as reforms take shape.
“As a nation, we must rally behind the President’s agenda for economic recovery. Nation-building is a collective effort, and we must support policies that drive growth, stability, and prosperity,” he stated.
Oseni prayed for the President’s good health and strength, urging leaders across the country to emulate Tinubu’s resilience, strategic foresight, and inclusive governance.
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