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Highlights: April 15 - April 20, 2019

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Christian Fernsby |
Highlights
Business week in short  

The most interesting business stories that marked the last week.

India wholesale inflation rises to 3-month high of 3.18%

India wholesaleWholesale prices in India rose by 3.18 percent year-on-year in March 2019, accelerating from a 2.93 percent rise in the prior month while markets had expected 3.2 percent....

Catalent to buy Paragon Bioservices for $1.2 billion

CatalentCatalent said it would buy privately held gene therapy-focused Paragon Bioservices in an all-cash deal for $1.2 billion....

UniCredit to pay over $1.3 billion for violating sanctions

UniCreditUniCredit Bank AG, a financial institution headquartered in Munich, operating under the name HypoVereinsbank, and part of the UniCredit Group has agreed to enter a guilty plea....

Twelve Seas to buy U.A.E.'s Brooge Petroleum in $1 billion deal

Brooge Petroleum and Gas InvestmentTwelve Seas Investment Co. agreed to acquire Brooge Petroleum and Gas Investment Co. in a deal valued at about $1 billion....

Waste Management to buy Advanced Disposal for about $3 billion

Waste ManagementWaste Management announced that they have entered into a definitive agreement under which a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for $33.15 per share in cash....

British unemployment rate hits 44-year low as wage hikes

UK workersUnemployment rate in the UK was estimated 3.9 percent in the three months to February, hitting its lowest point since early 1975, according to data released Tuesday the Office for National Statistics (ONS)....

Nidec to acquire Omron's auto electronics unit for $893 million

NidecNidec Corp. said Tuesday it will acquire component-maker Omron Corp.’s automotive electronics subsidiary for ¥100 billion ($893 million), as it seeks to speed up the development of technology for autonomous and other advanced vehicles....

Brazil to receive 621 million USD investment from BRICS bank

Brazil portBrazil will receive an investment of 621 million U.S. dollars from the New Development Bank (NDB), the Institute for Applied Economic Research (Ipea) says....

South Sudan seeks to raise daily oil output to 400,000 barrels

Ezekiel Lol GatkuothSouth Sudan plans to increase oil production to 400,000 barrels per day (bpd) by the end of 2020 as the country hopes to resume oil production in oilfields affected by five years of civil war, petroleum minister Ezekiel Lol Gatkuoth said....

Hungary highways investment plan to reach €9.85 billion until 2024

Hungary highwaysThe Hungarian Government has plant to develop the country’s key road network, with a budget of €9.85 billion having been set for upgrade works....

We produce 90% of the rice we eat, says Nigeria's minister

Audu OgbehAudu Ogbeh, Nigeria's Minister of Agriculture and Rural Development, says 90 per cent of the rice consumed in the country is produced locally....

Greenbrier to buy manufacturing from American Railcar Industries for $430 million

Greenbrier CompaniesThe Greenbrier Companies announced that it has entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI) from ITE Management LP in a transaction valued at $400 million, after adjustments for net tax benefits accruing to the Company, valued at $30 million....

Mozzarella from UK faces 45% tariffs in EU

MozzarellaUnder a no-deal scenario, the UK would face the EU common external tariff on any exports sent to the EU....

Blackstone to change from partnership to corporation, Q1 profit up 34%

BlackstoneBlackstone (BX) announced conversion from a publicly traded partnership to a corporation, expected to be effective July 1, 2019....

More than 1,000 millionaires chose to move to Dubai

Dubai streetSheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said that the UAE has been able to create a robust investment and economic environment due to the clear vision of the country’s leaders....

Steel demand continues to grow in slowing economic environment

steelIn 2018, global steel demand increased by 2.1% (after adjusting for China induction furnace closures – see note in October 2018 Short Range Outlook), growing slightly slower than in 2017....

Fiat Chrysler recalls about 300,000 cars due to rollaway risk

Dodge Dart sedansFiat Chrysler Automobile (FCA) is recalling an estimated 298,439 vehicles in the United States because a transmission problem may cause unintended vehicle movement....

IMF gives Mozambique $118 million for Cyclone Idai rebuilding

IMF gives MozambiqueCyclone IdaiThe International Monetary Fund will grant Mozambique a $118.2 million credit facility to help it rebuild infrastructure after a devastating Cyclone Idai.... â– 


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