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LA STAMPA, LA REPUBBLICA, CORRIERE DELLA SERA (Italy)

Worldcrunch

ROME - Italy's struggling economy appears to have at least one good shot at bouncing back: immigrant entrepreneurs. According to La Stampa, the businesses of non-EU immigrants account for 5.7% of Italy's GDP.

Confesercenti, the Italian association for small and medium businesses, says the number of small businesses owned by non-Italians has increased in the last nine months by 13,000 units. Meanwhile, Italian-owned small businesses have decreased by 24,500 units.

The study follows similar findings in other European countries, notably Germany where one in three new businesses are launched by immigrants.

In Italy, African countries dominate the list (Morocco 57,000 units, Senegal 15,851, Egypt 13,023 and Tunisia 12,348) while Chinese-owned businesses have increased by 6% from last year.

Albanians also play a big part, especially in the construction industry. La Repubblica acknowledges the difficulties that these business owners face to open a business in Italy. It’s not just a language barrier they must face but the agonizing bureaucracy too.

Corriere della Sera notes that more than 57% of these businesses are concentrated in five regions: Lombardy, Tuscany, Emilia-Romagna, Veneto and Lazio. The main industries involved are manufacturing, trade and construction.

Along with several other key euro-zone countries, Italy remains mired in recession. The European Union reported last week that the Italian economy will shrink by 0.5 percent in 2013.

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Green

China Can't Kick Its Coal Habit

China has endured two months of scorching heatwaves and drought that have affected power supply in the country. Spooked by future energy security, Beijing is reinvesting heavily in coal with disastrous implications for climate change.

The Datang International Zhangjiakou Power Plant shown at dusk in Xuanhua District of Zhangjiakou City, north China's Hebei Province.

Guangyi Pan and Hao Yang*

Two months of scorching heatwaves and drought plunged China into an energy security crisis.

The southwest province of Sichuan, for example, relies on dams to generate around 80% of its electricity, with growth in hydropower crucial for China meeting its net-zero by 2060 emissions target.

Sichuan suffered from power shortages after low rainfall and extreme temperatures over 40℃ dried up rivers and reservoirs. Heavy rainfall this week, however, has just seen power in Sichuan for commercial and industrial use fully restored, according to official Chinese media.

The energy crisis has seen Beijing shift its political discourse and proclaim energy security as a more urgent national mission than the green energy transition. Now, the government is investing in a new wave of coal-fired power stations to try to meet demand.

In the first quarter of 2022 alone, China approved 8.63 gigawatts of new coal plants and, in May, announced C¥ 10 billion (around $1.4 billion) of investment in coal power generation. What’s more, it will expand the capacity of a number of coal mines to ensure domestic supply as the international coal market price jumped amid Russia’s invasion of Ukraine.

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