Bloomberg Semiconductor maker Semtech Corp is acquiring Sierra Wireless Inc in all-cash transaction valuing the Canadian company at $1.2 billion including debt. Semtech said in a statement that it’s paying $31 a share for Sierra Wireless, a premium of about 25% to the closing price before Bloomberg News reported the merger talks. The deal is expected to roughly double Semtech’s ...

  ABU DHABI / WAM Foreign direct investments (FDI) in the UAE witnessed significant growth in recent years, despite the challenges posed by the Covid-19 pandemic. According to a report by the Ministry of Economy, during the past decade from 2012 to 2021, FDIs in the country increased by 116 percent, amounting to $20.667 billion in 2021 compared to $9.566 ...

  DAR ES SALAAM / TANZANIA /WAM Masdar announced that it has signed an agreement with Tanzania Electric Supply Company Ltd. (Tanesco) related to the development of renewable energy projects with a total capacity of up to 2 gigawatts (GW). In the presence of Hon. January Makamba, Minister for Energy for Tanzania, the Joint Development Agreement (JDA) was signed by ...