Profitloss Centerstage Events

Bosnia-Herzegovina applying to join the EU took center stage on Monday, 15 February 2016 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 3

Telecom Italia announces plans to invest €12 billion in Italy...

Telecom Italia announces plans to invest €12 billion in Italy over the next three years, exceeding its previous target. The company aims to distribute new content, such as music, video, and mobile games, while strengthening its presence in the country's telecommunications market.

Monday, 15 February, 2016

Devon Energy Corp. reveals its intention to sell shares valued...

Devon Energy Corp. reveals its intention to sell shares valued at approximately $1.12 billion to enhance liquidity, reduce debt, and fund its capital program. The oil-and-gas producer plans to offer at least 55 million shares. This decision follows recent cost-cutting measures, including workforce reduction, dividend cuts, and decreased spending, as the company navigates the challenges posed by low energy prices.

Tuesday, 16 February, 2016

Venezuela announces its first petrol price increase in 20 years,...

Venezuela announces its first petrol price increase in 20 years, with President Nicolas Maduro stating that it will remain the cheapest in the world. Pump prices of premium fuel will rise from $0.01 to around $0.60 per liter, while lower-grade petrol will cost approximately $0.10 per liter. This adjustment, along with other measures, aims to address the country's economic crisis and save $800 million annually.

Wednesday, 17 February, 2016

European wireless carriers Three UK and Three Italia plan to...

European wireless carriers Three UK and Three Italia plan to block online advertising on their networks, challenging the prevailing business model of Silicon Valley. Partnering with Shine Technologies, they aim to eventually extend this platform to other wireless providers within their group. The move is driven by the carriers' belief that customers should not have to pay for data consumed by mobile ads, which can negatively impact network experience.

Thursday, 18 February, 2016

Yoweri Museveni is declared the winner of Uganda's Presidential election,...

Yoweri Museveni is declared the winner of Uganda's Presidential election, securing 60% of the vote. European Union observers note the election took place in an "intimidating atmosphere." Museveni, the incumbent President, extends his long-standing rule despite criticism of limited political space and concerns over the fairness of the electoral process.

Friday, 19 February, 2016

Arrium Ltd. reaches a recapitalization agreement with GSO Capital Partners,...

Arrium Ltd. reaches a recapitalization agreement with GSO Capital Partners, a unit of The Blackstone Group, for up to US$927 million in funding. This move aims to help the steelmaker and iron-ore miner pay down existing debts amidst a downturn in global iron-ore markets. The plan includes a senior secured term loan and a rights issue, enabling Arrium to retain its mining consumables business.

Saturday, 20 February, 2016

Zimbabwe orders diamond mining firms to cease operations in the...

Zimbabwe orders diamond mining firms to cease operations in the Marange fields as their licenses have expired. The government clarifies that it is not seizing the mines but enforcing the expiration of mining grants. The firms, including two Chinese-run companies, neglected to renew their licenses, some of which expired as far back as 2010. Harare insists on the cessation of mining activities and its intention to merge the mines into one entity for efficiency and transparency.

Sunday, 21 February, 2016