Draft bill extends measure by six-months, boosts size Tax breaks for bad loan sales could also be prolonged (Adds details)
ROME, May 3 (Reuters) - Italy is considering extending to mid-2022 tax breaks which are expected to spur tie-ups in its fragmented banking sector, while also boosting the size of the incentives, a draft decree seen by Reuters showed on Monday.
The draft bill also reintroduces for the current year tax benefits for companies shedding impaired loans which had expired in December.
Both measures, if confirmed, would support Italian banks weather the fallout from the pandemic, which is set to stoke bad debts and further hit bank profits once the government unwinds support measures for the economy.
Italian banks could face around 9 billion euros ($11 billion) in loan losses this year and next as the economic damage wrought by the pandemic becomes apparent, the Bank of Italy said on Friday.
The U.S. Treasury Department is expected to keep the sizes of debt auctions unchanged for a second-consecutive quarter when it announces its quarterly refunding next week, analysts said.
By Reuters Staff
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JOHANNESBURG, April 30 (Reuters) - South Africa’s struggling national airline South African Airways has exited a local form of bankruptcy protection called business rescue, its administrators said in a statement on Friday.
The administrators “have effectively discharged the business rescue and handed over the operations of SAA back to its board and executive team with immediate affect,” their statement read. (Reporting by Alexander Winning Editing by Promit Mukherjee)
German yields set for biggest weekly rise in 2 months Germany to hold investor calls ahead of green issuance - memo (Adds details, updates prices)
LONDON, April 30 (Reuters) - Euro zone government bonds stabilised on Friday after a sharp sell-off in the previous session but the German 10-year yield was still on track for its biggest weekly rise in two months.
Investors are closely watching for any signs that the economic recovery from COVID-19 is gathering sufficient pace for central banks to start scaling back extraordinary monetary stimulus, though both the U.S. Federal Reserve and the European Central Bank have said that is not the case yet.