The Italian government is confident it can reach a compromise with Brussels and avoid sanctions over its deteriorating public finances, the economy minister said as talk of a looming government crisis grew, Trend reported citing Reuters.

Italian companies have invested $596 million in Azerbaijan's oil and gas sector, the Azerbaijani Energy Minister Parviz Shahbazov said at an event on the occasion of the 73rd anniversary of the proclamation of the Italian Republic, Trend reports.

Rock music has filled the air as the world-famous Italian guitarist and singer Mike Coacci performed at the National Conservatory in Baku on May 23.

The Bank of Italy plans to adopt investment criteria which reward companies that take action on climate change, joining other central banks, commercial banks and fund managers in ratcheting up pressure on boardrooms to go green, reports Trend citing to Reuters

Italy’s Eni and Algeria’s Sonatrach have signed agreements to renew the gas supply contract to import Algerian gas into Italy until 2027 (plus two further optional years) also defining the transportation arrangements through the pipeline crossing the Mediterranean Sea, Trend reports citing Eni.

The largest Italian oil and gas company Eni is considering the possibility of entering the market of Uzbekistan.

Italy’s Saipem company has organized Medevac for 11 injured as a result of the explosion occurred on the “Israfil Huseynov” vessel in the Caspian Sea, the company told Trend May 11.

Uzbek-Italian Business Forum, which was organized in cooperation with the Italian Union of Chambers of Commerce, Industry, Craft and Agriculture (Unioncamere) with the participation of the business circles of Uzbekistan and Italy, was held in Rome on May 7, Trend reports with reference to the press service of Chamber of Commerce and Industry of Uzbekistan.

The explosion on the vessel “Israfil Huseynov” operated by Italy’s Saipem company for pipelaying in the Caspian Sea was related to maintenance operations on an item of equipment during pipe-laying activities, Trend reports citing a statement issued May 9 by the company.

Italy’s Saipem company continues to operate in Azerbaijan through Saipem Contracting Netherlands B.V., the company told Trend.