News

Bloomberg Fidelity National Information Services Inc. agreed to acquire Worldpay Inc. for about $34 billion in cash and stock, the biggest deal ever in the booming international payments sector. FIS, based in Jacksonville, Florida, will also assume Worldpay’s debt, bringing the enterprise value of the deal to about $43 billion, the companies said on Monday. FIS’s current shareholders will own ...

Bloomberg Lyft Inc. is seeking to raise as much as $2.1 billion in its initial public offering, valuing the firm at up to $19.6 billion. The No. 2 US ride-hailing giant is offering 30.8 million shares at $62 to $68 each, it said in a regulatory filing on Monday. At the targeted range, the San Francisco-based company’s offering will be ...

Bloomberg Brazil’s sugar mills can make the switch into ethanol easier than ever before, making it harder to predict how much sweetener will come from the world’s biggest producer and exporter. Take the case of Sao Paulo-based Usina Batatais. Just two years ago, no matter how low sugar prices got, the company had no choice but send at least 45 ...

Bloomberg Big companies often leave their suppliers hanging for weeks without pay, but Vodafone Group Plc is taking this a step further: it’s investing in a fund that makes money off the delay. The British phone operator poured 1 billion euros ($1.1 billion) into the 2.4 billion-euro fund run by beleaguered Swiss asset manager GAM Holding AG, which generates returns ...

DUBAi / WAM Innovation is never a tool to surpass heritage, experts argued during a joint forum held by the Hamdan bin Mohammed Heritage Centre and the Zayed University. In the digital age and at the heart of the 4th Industrial Revolution, heritage is celebrated in the UAE and not forgotten. The Innovation and Heritage Forum aimed to promote research ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Sunday signed an agreement awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s Inpex Corporation. A wholly-owned Inpex subsidiary, Jodco Exploration Limited, will hold and manage the interest in the concession on behalf of Inpex. The award has been endorsed by Abu Dhabi’s Supreme Petroleum ...

ABU DHABI / WAM The Abu Dhabi Department of Energy (DoE) launched the ‘Saving Energy and Water at Home’ initiative. This latest endeavour is one of three sustainable initiatives launched by the department in collaboration with Zay-ed Higher Organisation for Humanitarian Care and Special Needs (ZHO), Abu Dhabi Distribution Company, and Al Ain Distribution Company. The DoE is official partner ...

Bloomberg The Organization of Petroleum Exporting Countries (Opec) and its allies have much work to do to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said. The 24-nation coalition known as Opec+ needs to “stay the course” until June as its job is nowhere near complete in terms ...

DUBAI / Emirates Business Global trade enabler DP World has selected the Infor GT Nexus Commerce Network as the technology backbone to power its global supply chain platform initiative. DP World’s objectives for strategic growth require innovative logistics digitalisation capabilities to power a new business initiative that will extend the value of its port and trade facilitation services to customers ...

SHARJAH / WAM Gulftainer, a privately owned independent port operator, welcomed the MV Port Klang from Sunmarine Shipping Services on a maiden call at its gateway flagship Sharjah Container Terminal (SCT). The vessel is one of the shipping group’s fastest services between the Indian subcontinent and the UAE. The MV Port Klang offers the fastest direct express service between Sharjah’s ...