Negotiations: Allow your Italian business colleagues to set the pace for your negotiations. Follow their lead. Hierarchy is the cornerstone of Italian business (and social life). Italians respect power and age. Negotiations are often protracted and never use high-pressure sales tactics. Heated debates and arguments often erupt in meetings. This is simply a function of the free-flow of ideas.
Holidays: Most businesses are closed in August. Many Italians take vacations at this time. No business.
Business material: Your material should be printed in both English and Italian and get an interpreter if you are not fluent in Italian. Look closely at the Italian business card before putting it in your card holder: it is a sign of respect. Have one side of your business card translated into Italian. Make sure your title is on your card. Italians like knowing how you fit within your organization.