LIBYA

The planned merger of Gaz de France and Suez to create one of Europe's largest energy groups has once more underlined President Nicolas Sarkozy's determination to keep a firm hold on French industrial policy.

The U.S. Justice Department and other authorities have stepped up investigations into several large European banks for violating sanctions against Iran, Libya, Cuba and Sudan, the Financial Times reported in its online edition.

Italy's Edison plans to invest more than 4.5 billion euros ($6.17 billion) by 2013 mostly in gas, foreign activities and renewable energies, the utility's Chief Executive told a newspaper on Sunday.

Libya is set to buy anti-tank missiles and radio systems from European aerospace and defense group EADS, days after a visit to Tripoli by President Nicolas Sarkozy, the French government said on Friday.

Nicolas Sarkozy arrived in Senegal on Thursday on his first visit as president to sub-Saharan Africa to underscore France's ties with ex-colonies and promote the diplomatic priority of African development.

Scrutiny of banking transactions after 9/11 has led European and Canadian banks to cut back on dealings with Cuba.

The OPEC crude basket price, a daily reference level based on the prices of 11 crudes - dropped to $55.99 on Thursday from $56.23 the previous day.

Libya's leader has reprimanded the country over its over-dependence on foreign imports and oil. He has urged the economy to improve its manufacturing sector and increase productivity.

Since Tripoli gave up its nuclear arms programs in 2003, Libya has seen progress in the number of foreign investments being made in the country, the result of an environment that encourages market orientated reforms meant to reintegrate the country into the international economic fold.