Berlin / AP Germany’s Bundesbank said raising the legal retirement age to 69 by 2060 could ease some of the pressure on the country’s state pension system as the population ages. Recent reforms won’t protect citizens from a drop in the level of pension payments from 2050, the central bank said in its monthly report published on Monday. Citizens …

  Bloomberg The European Union is considering adding to protections for banks’ riskiest debt securities by requiring that lenders pay coupons on such bonds before stock dividends and staff bonuses. Coupons on additional Tier 1 securities, such as contingent convertibles, or CoCos, “should be given priority” if capital levels are breached that trigger limits on payouts, according to an undated …

  Dubai / WAM The Board of Directors of Dubai Government-owned Emirates National Oil Company (ENOC) have announced a new growth strategy aimed at serving Dubai’s growing energy needs while simultaneously developing an integrated upstream and downstream energy value chain to drive future growth. As part of the five-year strategy 2016-2021, ENOC will focus its efforts and investments on fulfilling Dubai’s …