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To bolster its presence in the region, Italian bank UniCredit S.p.A. will open 900 branches in Central and Eastern Europe over the next five years. Article discusses the bank's capitalization in Italy and abroad, and earnings derived from operations in developing nations.

Boosted by higher petroleum prices and a rise in the value of the dollar, Eni S.p.A.'s net profit for the six months to June 30 more than doubled to 1.82 billion euro from 832 million euro a year earlier. Revenue increased 25% to 22.9 billion from 18.27 billion euro.

Enel S.p.A.'s third-quarter net profit fell 43% to 1.19 billion euro from 2.07 billion a year earlier. Revenue rose 7.8% to 17.23 billion euro. Enel plans to reduce its net debt from 54.07 billion euro at the end of September to 45 billion euro by the end of 2010, in part through the sale of $10 billion euro in non-essential assets.

Oil-and-gas company Eni S.p.A. has opted to not pursue the takeover of Tullow Oil PLC, taking into account Tullow's price tag after the company announced two large oil discoveries in Africa. Tullow is valued at $1.5 billion.

In a deal valued as much as 16 billion euro, Enel S.p.A. and Electricite de France S.A. have agreed to form a joint venture to build nuclear power stations in Italy. The venture, called Sviluppo Nucleare Italia, will build at least four reactors at a cost of about 4 billion euro each.

Enel S.p.A. reports a 29% first-half net profit increase to 3.52 billion euro from 2.74 billion a year earlier, and an increase in revenue of 2.7% to 28.5 billion euro. Earnings before interest, taxes, depreciation, and amortization rose 8.5% to 7.94 billion euro from 7.32 billion euro. Enel's net debt stood at 55.8 billion euro.

In an effort to pay down its debt, utility Enel S.p.A. will sell an 80%-stake in its Italian gas-distribution network to private-equity firms F2i SGR and Axa Private Equity for 480 million euro. The sale will reduce Enel's 50.8-billion-euro debt by over 1.2 billion euro. In addition, Enel plans to sell 3.218 billion new shares at 2.48 euro per share to raise 7.98 billion euro.

The Libyan Investment Authority (LIA) is considering the acquisition of a minority stake in Italian utility Enel S.p.A. LIA could either buy Enel shares in the open market or subscribe to Enel's 8-billion-euro capital increase to pay down its debt. Enel's first-quarter net profit doubled to 1.91 billion euro.

With the purpose of delisting and reorganizing the unprofitable leasing firm, Banco Popolare SC has offered to pay 1.50 euro a share, or 179 million euro, to acquire the rest of Banca Italease S.p.A. it doesn't already own. Popolare has a 30.7%-stake in Italease. Once the acquisition is completed, two new companies will be created to hold non-performing and performing loans. At the end of December, Italease had non-performing loans totaling 626 million euro.

Italian utility Enel S.p.A. reports a 35% net profit increase to 5.29 billion euro and a 39% increase in revenue to 59.58 billion euro for full-year 2008. The company's net debt is expected to rise to 61 billion euro after agreeing to increase its stake in Spanish utility Endesa. Enel plans to reduce its debt to 41 billion euro by the end of 2013 by selling 10 billion euro in assets, revising dividend payouts, and reducing investments by 12 billion euro.

Aerospace and defense firm Finmeccanica S.p.A. reports an 18% full-year net profit rise to 571 million euro, and an increase in revenue to 15 billion euro from the previous year's 13.4 billion euro. Earnings before interest and tax rose to 1.21 billion euro from 1.08 billion euro in 2007. The company plans a dividend of 41 European cents. Finmeccanica's net debt stood at 3.38 billion euro at the end of December.

Italy's Enel S.p.A. has procured 7 billion euro in financing to buy conglomerate Acciona S.A.'s 25% stake in Spanish utility Endesa S.A. Enel already owns 67% of Endesa but is required to run the company jointly with Acciona. The new acquisition would give Enel sole management of Endesa.

In a move to increase its petroleum and gas reserves, Eni S.p.A. will acquire First Calgary Petroleums Ltd. for $868 million. Eni has invested an approximate $13 billion to bolster its business portfolio since 2007. The company expects 30,000 barrels of oil equivalent per day by 2012 from First Calgary's assets in Algeria. First Calgary recently reported a second-quarter net loss of $14.6 million.

Italian utility Enel S.p.A. posts a first-half net profit rise of 44% to 2.85 billion euro while revenue grew 55% to 29.32 billion euro. Article discusses Enel's debt-reduction program, investments in Spanish utility Endesa S.A., stock value, and revenue expectations through 2009.

Russian and Italian energy companies have entered agreements for the creation of a joint venture and the construction of an underwater gas pipeline with an estimated combined value of 2.35 billion euro. In separate deals, OAO Lukoil Holdings announces it will invest 1.35 billion euro in a joint venture with Italian refiner ERG S.p.A. while Italian petroleum-services company Saipem S.p.A. has signed a contract to build a pipeline between Russian and Germany for 1 billion euro.

Byline: LIAM MOLONEY; Laetitia Bachelot-Fontaine contributed to this article. Eni SpA is likely to clinch the majority stake in Belgian natural-gas supplier Distrigas SA in the coming week, which would [...]

Without eliminating the possibility of further negotiations, airline Alitalia SpA's labor unions rejected a takeover proposal by Air France-KLM. Article discusses Alitalia's financial problems, stock value, and employee and political opposition to the merger.

The proposed acquisition of airline Alitalia by Air France-KLM has been met with opposition by political leader Silvio Berlusconi. Article discusses the airline's finances, stock value, and possible liquidation if merger negotiations fall through.

Pending government and labor union approval, airline Alitalia SpA agrees to be purchased by Air France-KLM for 819 million euro. Article discusses Alitalia's financial situation, stock value, and political issues related to the sale.

Italian electric utility Enel SpA announces a 31% net profit increase to $6.22 billion in 2007. Article discusses the company's recent acquisitions and investments, stock value, strategic plans, and expected profit in 2008.

Fourth-quarter net profit for Italian petroleum firm Eni S.p.A. nearly doubled, reaching $4.41 bil, due in part to higher volume sales and stronger crude prices. Due to these results, the firm anticipates that more petroleum producing countries will attempt to rewrite their contracts in 2008.

Italy's Eni S.p.A. announced that it has assumed control of British rival Burren Energy PLC, acquiring in excess of 77% with a $3.4 bil takeover bid. Eni acquired an almost 25% stake, and its offer for more than 52% in further shares was accepted.

Italian bank Intesa Sanpaolo S.p.A. and two of its former units will pay approximately $600 mil to settle suits stemming from the bankruptcy of Italian dairy firm parmalat S.p.A. after an accounting scandal in 2003. Intesa is the first major Italian lending entity to settle all lawsuit claims.

Italian oil and gas firm Eni S.p.A. will buy UK company Burren Energy PLC in a deal valued at $3.59 bil. The move will increase Eni's African assets and provide entry into Turkmenistan. The offer represents a 33% premium on Burren shares.

Italian oil and gas firm Eni S.p.A. has withdrawn its offer for UK company Burren Energy PLC after Burren officials asked for more than 1,200 pence per share. The withdrawal of the deal, valued at 1.5 bil to 1.69 bil pounds sterling, caused Burren's shares to drop 15%.

Third-quarter net profit for Italian energy firm Eni S.p.A. fell 11% to $3.1 bil, due partly to a weaker US dollar and lower hydrocarbon production. Adjusted net profit, which discounts special item and inventory changes, dropped 28%. Net revenue decreased 0.9%. However, Eni made significant acquisitions this year.

Italy's Edison S.p.A. has estimated that the offshore gas pipeline providing the European Union with natural gas from the Caspian region will cost approximately $550 mil. Most of the gas supply will come from Azerbaijan through Turkey and Greece. The cost of the project will be split between Edison and Greece's state-owned DEPA.

Italian regional electric utilities ASM S.p.A. and AEM S.p.A. have merged in a deal valued at $11.88 bil, prompting speculation than a broader consolidation in the nation's energy sector may be imminent. The deal has created the third largest power company in Italy in generation capacity.

A 25.03% stake in Russian wholesale electric power generation company OAO OGK-5 has been bought by Italian electric utility ENEL S.p.A. for $1.52 bil. The offer represents a premium of approximately 15%. OGK-5's parent company is Unified Energy Systems of Russia.

First-quarter net profit for Italian energy company Eni S.p.A. fell by 13% to hit $3.49 bil, due primarily to lower oil prices, a weaker American dollar, and the nationalization of oilfields in Venezuela, affecting Eni's Dacion field. Eni recently purchased rights in the Gulf of Mexico from Dominion Resources Inc. for $4.8 bil.

First-quarter net profit for electric utility firm ENEL S.p.A. rose by 12% to reach 943 mil euros; however, revenue dropped 5.1% to 9.73 bil euros. Enel is currently bidding with Acciona S.A. for Endesa S.A., a Spanish utility company, in a deal totaling in excess of 43 bil euros.

Eni S.p.A. of Italy announced delays in production and increased costs at the Kashagan petroleum fields in Kazakhstan. The petroleum giant posted a slide in net profit by 28 percent to 1.52 billion Euros ($1.99 billion). Revenues are due to a stronger Euro, disruptions in production and lower margins for refining petroleum.

Anti-trust regulators from Italy have launched an investigation into price-fixing of gasoline prices by the petroleum industry. The investigation was sparked by government plans to deregulate the retail business.

Eni S.p.A. of Italy third quarter net profit increased by 3.5 percent to 2.42 billion Euros ($3.11 billion) from 2.34 billion Euros last year. Net sales grew by 12 percent to 20.37 billion Euros. Eni S.p.A. is the largest petroleum and natural gas company of Italy.

The article discusses the use of mercantile vessels to assist in the rescue of migrants from Africa and the Middle East trying to reach Europe, particularly Italy and Greece. During 2014 authorities in Italy directed 700 ships to aid in rescuing nearly 40,000 people. Paolo Cagnoni of oil-tanker operator Mediterranea di Navigazione SpA says his ship's crews are not equipped rescue work, and that the company may re-route vessels to avoid seaborne immigrant traffic.

The article discusses a city beautification campaign launched by Ignazio Marino, mayor of Rome, Italy, focusing on the backlash against it by residents. Topics include his decision to enforce rules regarding the use of public space by private enterprises, such as the amount of space restaurants can use for outdoor tables; regulations against trinket sellers, scooters and outdoor portraitists; and concerns over the effects of traffic on historic monuments and buildings.

The article discusses the profitable impact on religious media of Pope Francis' popularity. During 2013 revenues rose 40% for Vatican Television Center, the Vatican's broadcasting company. The Catholic periodical "Tablet" has been able to increase its coverage of the Pope due to increased sales. In March 2014 publishing house Mondadori SpA introduced a new weekly periodical dedicated to the Pope.

The article reports on plans by Pope Benedict XVI, the pontiff of the Roman Catholic Church, to resign from the position. According to the article, health concerns related to his age prompted Benedict to announce his resignation. Other topics include his dealings regarding sex scandals in Church leadership, his efforts to improve relations between the Catholic and Anglican churches, and the potential successors for the position. INSET: Guardian of Faith.

The article discusses people who collect antique memorabilia from the gasoline and petroleum industry. Collector Jerry Keyser says nostalgia is a prime motivation for many of his peers. Over 500 people showed up for a 2011 collectors' convention in Columbus, Ohio. Special attention is paid to Guido Fisogni of Italy, whose 8,000-piece collection includes an 1892 gas pump.