UnipolSai bets on renewables

Bologna - Italian insurance group Unipol increases its commitment on the renewable energy sector and creates Unipolsai Energia, it is announced from company’s headquarter. Up to 2018, Unipol has invested 326 million euros in funds and investments to implement the UN 2030 agenda for sustainable development


ANIA insurers hold 15% of Italian public debt

Rome - The insurance industry gives a “still significant support” for Italian public debt, noted the president of ANIA (the National Association of Italian Insurers) Maria Bianca Farina, specifying in the report to the annual meeting that government Italian bonds touch around 40% of total insurance companies investments


Deutsche Bank to quit equities, shrink investment bank in 7.4 bln euro overhaul

Berlino - Deutsche Bank plans to scrap its global equities business and scale back its investment bank in a sweeping, 7.4 billion euro overhaul designed to turn around the struggling German flagship lender.


US trade deficit rises to five-month high

Washington - The U.S. trade deficit rose to a five-month high in Mayas the politically sensitive imbalances with China and Mexico widened. The Commerce Department said Wednesday that the gap between the goods and services the U.S. sells and what it buys from foreign countries rose 8.4% to $55.5 billion in May


UN wants urgent end to migrant returns to Libya

Benghazi - The U.N. refugee agency is calling for an immediate end to bringing migrants trying to cross the Mediterranean back to Libya after an airstrike hit a detention center, killing at least 40 people. UNHCR had warned less than two months ago that anyone inside the Tajoura detention center was at risk

China to ease limits on foreign investment

China to ease limits on foreign investment

Beijing - China is reforming key industries to allow for greater foreign investment, according to state media. Xinhua reported the National Development and Reform Commission of the People’s Republic of China said Sunday sectors including oil exploration and mining are to be deregulated for more foreign capital inflows

Iraqi oil minister expects 6-9 months OPEC output deal extension
Philadelphia Energy Solutions seeks to permanently shut oil refinery
Merkel’s Bavarian allies snub her coal exit plan
IEA concerned about Middle East tensions, stands ready to act