Money Buzz! Europa

Category: Milan

  • Lumen Ventures launches a €25 million fund for tech startups

    Lumen Ventures launches a €25 million fund for tech startups

    Lumen Ventures has launched a €25 million fund after obtaining authorization from the Bank of Italy as the first Simple Investment Company (SiS) in Italy. The venture capital firm wants to invest in tech SMEs and startups with high growth potential.

    The finance will be invested over four years into a number of sectors, including fintech, insurtech, healthtech, and foodtech.

    Lumen Ventures are looking for early stage startups to meet an ”criteria of excellence”, regarding business model and growth potential. 

    According to data from leading observers, the Venture Capital market has grown steadily over the past five years, providing an alternative investment opportunity.

    In the second quarter of 2019, Venture Capital reached its peak investment peak of EUR 9.3 billion. 

    In Italy, 2019 was a record year for both the number of transactions carried out, 148 compared to 102 the previous year, and for the invested capital, 597 million euros compared to 521 in 2018.

  • Eni confirms and expands gas and condensate potential in Vietnam

    Eni confirms and expands gas and condensate potential in Vietnam

    Eni announces that its exploration well, Ken Bau-2X, located in Block 114, Song Hong Basin, offshore Vietnam, has confirmed a significant hydrocarbon accumulation on the Ken Bau discovery, further expanding its potential.

    Ken Bau 2X was drilled 2 km apart from the discovery well in 95 m of water depth till a  total depth of 3658m below sea level and encountered a pay in excess of 110m in several intervals of Miocene sandstones interbedded with shale.  

    Two mini drill stem tests (DST) were conducted, coupled with an extensive data acquisition campaign comprising fluid sampling.

    Preliminary estimates of Ken Bau accumulation provide a range between 7 and 9 trillion cubic feet (Tcf) of raw gas in place with 400 – 500 million barrels (Mbbl) of associated condensates. The well will now be plugged and abandoned.

    Ken Bau 2X results confirm the importance of the discovery made in 2019, and Eni Vietnam’s and its partner Essar E&P efforts to swiftly appraise the full extent of the accumulation despite the significant operational challenges posed by the COVID-19 pandemic during these months.

    Eni Vietnam is the Operator of Block 114 with a 50% share; Essar E&P holds the remaining 50%.

    Eni Vietnam with its partner is currently planning additional drilling and testing on Ken Bau discovery coupled with new drilling and seismic activity in the Song Hong basin, where Eni operates with a 100% share the neighbouring Block 116.

    Eni has been in Vietnam since 2013, and currently operates four blocks all located in the underexplored Song Hong and Phu Khanh basins, offshore central Vietnam.

  • 5.5 million euros for employment and micro-enterprises in Milan

    5.5 million euros for employment and micro-enterprises in Milan

    The guidelines for the allocation of grants for the creation and stabilization of jobs for neighborhood and neighborhood micro enterprises belonging to the economic sectors most affected by the pandemic have been approved by the The Municipality of Milan Board.

    The contributions amount to € 5.5 million and come from the Mutual Aid Fund.

    Contributions will be granted to micro-enterprises of the economic sectors most affected during the lockdown:

    • retail business activities (excluding food and basic necessities),
    • personal services (hairdressers, barbers, beauty centers etc.),
    • catering businesses,
    • accommodations and travel agencies.

    This enterprises must have up to 5 employees hired with full time employment contracts and who have undergone at least 56 days of mandatory closure.

    Specifically, the funds will cover the costs for new staff hires with permanent or fixed-term employment contracts lasting at least 12 months or with apprenticeship contracts, or the stabilization of staff already hired with contracts.

    Two aid formulas

    The first, a contribution of up to a maximum of 20.000 euros to cover the costs for the creation of permanent employment relationships. 

    The second, economic coverage for fixed-term contracts, lasting at least 12 months, or apprenticeships up to a maximum of 15.000 euros.

    In both cases, the funds will be allocated in the amount of 80% of the expected expenditure and will be disbursed in the amount of 80% of the expenditure actually incurred and reported. 

    Contracts stipulated after June 1, 2020 are considered admissible.

    All information and documentation necessary for submitting the application will be available in September on the portal of the Municipality of Milan.

  • Bennet acquired 7 former Auchan hypermarkets in Lombardy

    Bennet acquired 7 former Auchan hypermarkets in Lombardy

    Bennet made a major acquisition of Auchan hypermarkets, Giornale di Brescia noted. The company announced the acquisition of 7 Auchan hypermarkets sold by Margherita Distribution S.p.A.

    All employees working in the acquired hypermarkets will join Bennet team, which sees the number of employees increase to about 8.000.

    The seven hypermarkets are thus distributed:

    • two in the province of Milan (Cesano Boscone and Nerviano),
    • two in the province of Brescia (Concesio and Mazzano),
    • one in the province of Lodi (Codogno),
    • one in the province of Bergamo (Antegnate)
    • a superstore in Milan (Avenue Monza).

    This brings the total number of hypermarkets and superstores to Bennet to 71.

  • Italy in June 2020: exports increased by 14.9% and imports by 20.0%

    Italy in June 2020: exports increased by 14.9% and imports by 20.0%

    Istat latest data show that in June 2020, exports increased by 14.9% and imports increased by 20.0% compared with May 2020.

    Over the last three months, data showed a 28.1% decrease in outgoing flows and a 20.3% decrease in incoming flows in comparison with the previous three months.

    In June 2020 exports to non-EU27 countries decreased by 15.6% and imports decreased by 17.0% compared with the same month of the previous year.

    The trade balance showed a surplus of 4,436 million euro compared with a 4,994 million euro surplus in the same month of 2019.

    In June 2020 excluding energy, the trade balance showed a surplus of 6,015 million euro compared to the surplus of 8,299 million euro of June 2019.

    For the former non-EU28 area, which does not include the United Kingdom, in June 2020, exports decreased by 15.4% and imports decreased by 17.6% compared with the same month of the previous year.

    In seasonnally adjusted terms, exports increased by 15.4% and import increased by 18.5% compared with May 2020.

    The trade balance showed a surplus of 3,568 million euro (there was a 3,852 million euro surplus in June 2019).

  • EIB provides support for new hybrid regional trains in Italy

    EIB provides support for new hybrid regional trains in Italy

    The trains will be less polluting and more efficient, and almost half will be for southern Italy.

    This is the goal of €450 million in European Investment Bank (EIB) financing for FS Italiane (parent company of the Trenitalia transport company).

    €150 million of the total has already been finalised via the subscription of a corporate bond under FS’ EMTN programme, concluded by way of private placement, confirming the group’s commitment to sustainable finance.

    The recently subscribed operation will finance the purchase of the first 43 trainsets ordered of a total of 135 covered by Trenitalia’s investment plan.

    The new trains will operate on internal routes in Southern Italy

    The new trains will operate on internal routes in several Italian regions (including Calabria, Lazio, Molise, Sardinia, Sicily, Tuscany and Valle d’Aosta).

    The 135 hybrid trainsets will have three or four passenger carriages.

    The trains will be equipped with cutting-edge motors for non-electrified lines, with a pantograph for electrified lines and batteries for the last mile of non-electrified lines, thereby avoiding the use of fuel and the related emissions close to urban centres.

    Trenitalia’s overall investment for this kind of train totals almost €960 million, covering the renewal of regional fleets on lines where electrification is not yet complete.

  • Trento to receive €300 million for sustainable projects and post-COVID-19 reconstruction

    Trento to receive €300 million for sustainable projects and post-COVID-19 reconstruction

    The EU bank is backing the Autonomous Province of Trento for all sustainable public sector projects and the economic recovery from the impact of the COVID-19 pandemic.

    This is the goal of the agreement signed yesterday by the European Investment Bank (EIB), which will provide €300 million to the northern Italian province, with an initial tranche of €160 million already finalised. 

    Cassa del Trentino – the institution for supporting economic development and infrastructure construction and management within the autonomous province – will be responsible for channelling the resources to municipalities and public entities.

    In concrete terms, projects in the public infrastructure, energy efficiency and renewable energy sources, sustainable transport, urban development and renewal sectors together with investments in tackling and mitigating climate change will be eligible for financing.

    These will be joined by any projects of municipalities and public entities in Trentino that aim to alleviate the effects of the economic and social crisis caused by the pandemic and lay the groundwork for an economic recovery.

    The maturity of the loans can be up to 20 years, with a four-year grace period.

  • SPAR Italy opens new Interspar and Eurospar stores in Abruzzo

    SPAR Italy opens new Interspar and Eurospar stores in Abruzzo

    Maiora, SPAR Italy Partner for the Centre and South of Italy, has opened a new Interspar Hypermarket and two new Eurospar Supermarkets in Abruzzo.

    The modern Interspar and Eurospar stores are located respectively in Silvi Marina, Pescara and Montesilvano.

    The opening of these stores is part of Maiora’s strategy to expand the SPAR Brand’s footprint into the Abruzzo region, located above the ‘heel’ of the Italian peninsula. The Eurospar Supermarket in Pescara, operated by an independent retailer, was converted from an existing brand. All of the previous store employees have been hired to run the new store.

    Maiora opened the new Interspar Hypermarket in Silvi Marina, a coastal town near Teramo, just two weeks after opening the new Eurospar Supermarket in Pescara.

    More openings are scheduled to take place from September, adding to the 32 SPAR stores already operating in the Abruzzo region.

    The new Eurospar Supermarket in Pescara follows the opening of another new Interspar Hypermarket in Scalea just one month ago, which was successfully completed during the lockdown.

    Within its 2019-2021 business development plan, DESPAR Maiora is investing an additional €70 million in its retail store portfolio, aimed at renovating 20 more stores and developing six new stores.

    The company’s turnover of €805,5 million, with a  strong growth of €30 million in 2019, is set to reach the €1 billion milestone by the end of this year.

  • Master in “Smart Grids” at Politecnico di Milano, powered by Enel

    Master in “Smart Grids” at Politecnico di Milano, powered by Enel

    The Politecnico di Milano, in collaboration with the Enel Group, launches the first, second level international Specializing Master dedicated to training experts in the field of Smart Grids.

    This unique course is for recent graduates and aims to train highly qualified professionals to be capable of tackling complex problems in the design and management of digital networks, as well as promoting technological innovation in the field of electricity distribution systems.

    Smart Grids are digital and resilient infrastructure that enable the decarbonization and electrification of the energy system through the complete integration of distributed generation from renewable sources and the active participation of consumers in the energy market.

    Enel is one of the leading Smart Grids operators in the world, managing more than two million km of power lines in eight countries, and has always been recognized as a leader in innovation in this sector.

    The second level Specializing Master open to international students will contribute to the creation of solid skills in the design and automation of electrical systems, with the in-depth study of innovative technological solutions.

    The program includes theoretical lessons and experimental training in the laboratory with: 330 hours of lectures dedicated to the energy context, Smart Grid specificities and implementation, a technical focus on Health&Safety; 100 hours of laboratory work and; 210 hours of project work in Enel.

    Applications for the Smart Grids second level Specializing Master can be submitted through January 6th, 2021.

  • IAFSTORE receives investment from L Catterton Europe

    IAFSTORE receives investment from L Catterton Europe

    IAFSTORE announced that it has received a significant strategic investment from the European Fund of L Catterton, the largest and most global consumer-focused private equity firm.

    The investment will be used to support the company’s expansion in the fast-growing Italian online supplement market. Terms of the transaction were not disclosed.

    Founded in 2007 as an e-commerce distributor of third party products, IAFSTORE has become the industry-leading online platform specialized in sports nutrition, food supplements, over-the-counter and healthy products.

    In 2012, the company launched its first owned brand, YAMAMOTO, which quickly became a food supplement leader, providing nutritional products dedicated to millions of fitness enthusiasts and athletes all over the world.

    The company has seven branded products under the brand names Yamamoto Nutrition, Yamamoto Research, IAFSTORE, OneProtein, Alphazer, Yamamoto Active Wear, and Smile Crunch, offering a broad selection of high quality supplements.  

  • Enel launches four contests to design the power stations of the future

    Enel launches four contests to design the power stations of the future

    Enel launches “The new energy spaces”, four contests for the design of modern and efficient power plants necessary for the decommissioning of coal plants.

    The goal is to create energy hubs in which renewable sources (solar photovoltaic), energy storage batteries and gas systems will coexist, increasingly integrated with the surrounding environment, thanks to projects that reduce the impact on the landscape and that reimagine the idea of ​​the power plant, also making spaces available to local communities.

    Participants are asked to present project ideas that respect the principles of sustainability and circular economy, through the reuse of existing structures, and which can be adapted to the different conversion phases of the plants.

    The contests concern four power plants: La Spezia, Fusina, Civitavecchia and Brindisi, and will be carried out in collaboration with the Universities of Genoa, IUAV of Venice, Tuscia and Salento.

    In order to encourage wider involvement, the calls for tenders provide indications for the participation of young people under 40 and for gender equality.

    The projects will be evaluated by a commission composed of representatives from Enel, the universities and representatives of local communities.

    The three best projects selected for each of the four tenders will be acquired by Enel and the winners will be entrusted with the architectural design of their proposal for the construction of the plants, for which the authorization procedures are currently underway.

  • Campari launches its new magazine-style website

    Campari launches its new magazine-style website

    Campari gives its online presence a makeover with a magazine-style website featuring a continuously evolving flow of new contents and updates.

    The Stronger Together section brings together all the group’s main initiatives carried out since the onset of the COVID-19 health emergency and during all its subsequent stages, in every country where Campari operates.

    News is tagged by country, type of activity and intended audience so that visitors can easily find what they’re looking for.

    The News & Media section includes an original search engine that allows visitors to access all contents, using a cross-site approach. The aim is to encourage visitors to browse through different types of content, helping them to fully engage with the brand narrative.

    The magazine-style approach is particularly evident in “The Spiritheque” section. Part journey of discovery through a secret archive and part virtual art gallery, The Spiritheque tells the story of places, people, mysteries and atmospheres from the world of the Group’s brands.

    Combining narratives and animated illustrations, it represents an original approach that explores the intangible heritage of the Group and its brands from a contemporary and innovative perspective through true stories, anecdotes and “legends”, so as to offer readers an original new way to experience the brands.

    The website’s all-new design is based on an in-depth study of how Campari’s vast historical and cultural heritage lives through today’s global dimension, embracing brands and people from all over the world. 

    The multimedia content is enriched by video interviews with the master blenders and distillers who are guardians of the secret recipes behind some of the Group’s most distinctive products.