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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Jessica Weisman-Pitts

    Posted on October 10, 2022

    Featured image for article about Top Stories

    MILAN (Reuters) – Italy’s telecoms lobby has called on the European Union to consider ways to help the industry cope with rising energy costs as well as to shield their networks from any planned power cuts, a document seen by Reuters showed.

    The energy crisis comes on top of other business concerns for telecoms operators in Europe, which are caught up between high investment needs and low returns partly linked to a crowded and competitive landscape.

    In a letter sent to EU industry Chief Thierry Breton on Friday, Assotelecomunicazioni asked for telecoms players to be treated like energy intensive industries, a move which would ease access to measures to cut their electricity bills after a three-fold increase over the past year.

    “Companies in the telecoms sectors continue experiencing increases of energy supply costs, while they must ensure continuity to their services,” the letter said.

    As the risk of power shortages grows in the wake of Russia’s decision to cut gas supply in the wake of the Ukraine conflict, telecoms operators are bracing for potential power cuts which could knock out part of their network.

    “A clear indication of the impossibility for telecoms network to be disconnected…would give much needed certainty to telecoms players and to the whole economic system over the service continuity”, Assotelecomunicazioni’s head Massimo Sarmi said.

    (Reporting by Elvira Pollina; Editing by Keith Weir)

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