
AI-generated summary
Venezuela is trying to recover from two June earthquakes that hit the country, while dealing with the international fallout from the capture of former President Nicolás Maduro by the United States on January 3.
According to a projection announced by interim President Delcy Rodríguez, Venezuela's gross domestic product (GDP) is expected to grow by 6.5% in the third quarter of 2026. Rodríguez highlighted the recovery of the oil and non-oil sectors after the two earthquakes that hit the country in June. “Oil production has increased by 8% since the beginning of the year,” Rodríguez said during a meeting with business leaders, adding that Venezuela currently produces around 1.25 million barrels of crude oil per day.
The interim president also stated that the country 'expects to receive 12 billion dollars in public and private financing' over the next two years. Since the capture of former president Nicolás Maduro by the United States on January 3, Venezuela has been at the center of US initiatives aimed at guaranteeing crude oil supplies to American refineries and encouraging investments in the country's energy sector.
AI outlook — possibilities, not facts
Venezuela's GDP will grow by 6.5% in the third quarter of 2026
Possible · Within months
Venezuela will receive $12 billion in public and private financing over the next two years
Possible · Within years

The European Commission will more thoroughly evaluate Italy's requests for fiscal flexibility to tackle inflation, calling for prudence and compliance with agreed spending plans. Meanwhile, it has approved the national escape clause for energy and defense, while frugal countries such as Holland and Belgium oppose new flexibility. Giorgetti says he is confident that the Italian reasons will be accepted.

By 2045, Europe will go from around three workers per pensioner to less than two, with the average replacement rate of public pensions falling from 45% to 41%. In Italy only 21% of savers with assets under 250 thousand euros consider themselves prepared for retirement, while 54% know about private pension products and less than 60% of those who know them own one. Once informed, 74% express interest and would increase the amount of savings earmarked for retirement by 10 points. The main problem is the lack of knowledge about the available offer, not the propensity to save.

The European Commission has given an initial green light to Italy's request to activate the national safeguard clause for defense and energy spending, stating that it does not put fiscal sustainability at risk in the medium term. The file now goes to the Council, which has a month to decide. Giorgetti says he is confident, while Dombrovskis warns against new forms of fiscal flexibility.

Intesa Sanpaolo has signed an agreement with Confcommercio, Federalberghi and Confartigianato to make available 20 billion euros in new financing for innovation, digitalisation, energy efficiency and the redevelopment of small businesses. The initiative includes the elimination of POS commissions on purchases up to 20 euros, with an estimated saving of around 100 million euros for small merchants, and measures to reduce the costs of electronic payments. The Banca dei Territori will offer new lines of credit and will bear the interest on the first installment of the loans expiring at the end of 2026, 2027 and 2028.

European stock markets close in negative, with Milan (FTSE MIB -1.3%) and Frankfurt (-1.2%) leading the decline. Btp-Bund spread down to 111 basis points. Oil up 3% to 91 dollars a barrel, gas up 1.8% in Amsterdam. Among the stocks, weak STM, Tim and Unicredit; Eni and Tenaris do well thanks to crude oil.

The Argentine government of Javier Milei will collect 340 million dollars from the privatization of Aysa, the state drinking water distribution company of Buenos Aires, to a consortium made up of Phx Aqua (55%), Rowing (20%), Arcos Saneamiento (15%) and Transclor (10%). The contract provides for investments of 1.94 billion dollars by 2031 and 15 billion by 2056.