FINWIRES · TerminalLIVE
FINWIRES

Italy PM Reportedly Says Too Early to Consider Russian Gas as Alternative

-- Italian Prime Minister Giorgia Meloni on Tuesday said it was too soon to consider the return of Russian gas, notwithstanding the ongoing energy supply shocks amid the Middle East crisis, multiple media outlets reported.

Addressing reporters in Verona, Meloni said exertion of economic pressure on Russia was the strongest weapon to bring peace in Ukraine and hoped that considerable progress towards achieving that goal would have been made by January 2027, when the problem is expected to become real, Bloomberg reported.

"We must be very careful in how we move from this point of view," Meloni reportedly said. "It's too early to talk about this dynamic."

Meloni's statements were in response to comments by energy major Eni's (E) chief executive officer Claudio Descalzi on Sunday, who advocated suspending the proposed ban on imports of liquefied natural gas from Russia.

Italy's PM office did not immediately respond to' request for comment.

Italy relies heavily on gas for its energy needs, and the ongoing energy supply crisis and the effective closure of the Strait of Hormuz due to the Iran war have hit the country hard, pressuring its energy situation, already strained by the Ukraine conflict, the report said.

Price: $55.30, Change: $-0.71, Percent Change: -1.27%

Related Articles

Asia

Shakti Pumps (India) Invests INR100 Million in EV Mobility Unit

Shakti Pumps (India) (NSE:SHAKTIPUMP, BOM:531431) said it has invested 100 million Indian rupees in its wholly owned subsidiary Shakti EV Mobility by subscribing to 10 million equity shares, according to a Tuesday filing to the Indian stock exchanges.Shares of the company rose 1% in Wednesday's trade.With this, Shakti Pumps' total investment in the EV mobility unit has increased to 650 million Indian rupees, the filing said.The investment is aimed at supporting business expansion of the subsidiary, it added.

$BOM:531431$NSE:SHAKTIPUMP
Asia

Challenger's Fiscal 2026 Q3 Update Missed Consensus Across Key Life Metrics, Jarden Says

Challenger's (ASX:CGF) fiscal 2026 third-quarter update missed consensus across key Life metrics, with FM outflows significantly worse than expected, driven by institutional equity mandate attrition in both Australian and global equities, according to a Tuesday note by Jarden.The firm's redemption of all CGFPC notes on May 25 simplifies the capital structure, reduces the AT1 coupon burden, and is earnings-per-share accretive.Jarden sees balanced risk/reward for Challenger in the future, with catalysts including capital management flexibility from the Australian Prudential Regulation Authority reform, as well as expanding retirement partnerships across superfunds.It lowered its fiscal 2026 sales forecast to reflect weaker institutional fixed-term sales, partially offset by higher retail annuity sales as partnerships come online.The investment firm retained its neutral rating on Challenger and raised the price target to AU$8.70 per share from AU$8.60 per share.

$ASX:CGF
Asia

Proya Cosmetics 2025 Profit Down 4%, Revenue Slips 2%

Proya Cosmetics (SHA:603605) posted 2025 attributable net profit of 1.50 billion yuan, down 3.5% from 1.55 billion yuan the previous year.Earnings per share slid to 3.80 yuan from 3.92 yuan, according to a Wednesday filing with the Shanghai bourse.Operating revenue declined 1.7% year over year to 10.6 billion yuan from 10.8 billion yuan.Shares of the cosmetics maker were up over 1% in recent trade.

$SHA:603605