Profitloss Centerstage Events

The inauguration of Chinese funded rail transport between Mombasa and Kenya took centerstage on Wednesday, 31 May 2017 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 5

Payment processor First Data Corp. has agreed to acquire payment...

Payment processor First Data Corp. has agreed to acquire payment processor CardConnect Corp. The deal, valued at around $750 million, will see First Data acquire all outstanding shares of CardConnect for $15 per share in cash. CardConnect processes a significant volume of transactions annually from its merchant customers. First Data, originally taken private by KKR in 2007, went public in 2015 and has become one of KKR's largest holdings.

Monday, 29 May, 2017

Kenya inaugurates a major new railway connecting Mombasa and Nairobi,...

Kenya inaugurates a major new railway connecting Mombasa and Nairobi, 18 months ahead of schedule. The Chinese-funded $3.2 billion railway project is Kenya's largest infrastructure undertaking since gaining independence. President Uhuru Kenyatta hails the new rail line as a new chapter for the country, but warns vandals damaging sections of the guardrail will face execution. The railway is expected to boost economic growth and improve transportation connectivity in Kenya.

Tuesday, 30 May, 2017

Sequoia Capital raises $2 billion for its second global growth...

Sequoia Capital raises $2 billion for its second global growth fund, exceeding the $700 million raised for its first fund. The firm plans to focus on mature companies worldwide and invest in emerging markets such as Southeast Asia, Africa, and Latin America. Additionally, Sequoia Capital India IV has raised $200 million more than its last disclosure, bringing the fund's total to $694.75 million. The firm's U.S. Venture Fund XIV remains at $474.5 million.

Wednesday, 31 May, 2017

Equatorial Guinea, Ivory Coast, Kuwait, Peru, and Poland are elected...

Equatorial Guinea, Ivory Coast, Kuwait, Peru, and Poland are elected to the United Nations Security Council for a two-year term starting from January 1, 2018. These countries will contribute to global security and decision-making on critical international issues during their tenure on the Security Council.

Thursday, 1 June, 2017

Belgian chemical company Solvay SA completes the sale of its...

Belgian chemical company Solvay SA completes the sale of its Acetow unit to Blackstone Group for approximately €1 billion. Acetow specializes in producing substances for cigarette filter manufacturers. The deal represents a strategic move for Solvay and allows Blackstone to expand its portfolio in the chemical industry.

Friday, 2 June, 2017

Rickmers Holding AG, Germany's third-largest shipping firm, files for insolvency...

Rickmers Holding AG, Germany's third-largest shipping firm, files for insolvency after lender HSH Nordbank withdraws its support for the company's debt restructuring plans. The shipping industry in Germany has been facing challenges, including plummeting freight rates and the bankruptcy of Hanjin Shipping. Rickmers Holding's bankruptcy is a significant development, adding to the woes of German shipping companies and investors who own a considerable portion of the global container fleet.

Saturday, 3 June, 2017

Bahrain, Egypt, Libya, the Maldives, Saudi Arabia, the United Arab...

Bahrain, Egypt, Libya, the Maldives, Saudi Arabia, the United Arab Emirates, and Yemen's internationally recognized government sever diplomatic ties with Qatar, citing national security concerns, media incitement, and Qatar's support of Iran. The Saudi-led coalition is joined by other countries in cutting land, air, and sea connections with Qatar. The demands included reducing ties with Iran, ending military coordination with Turkey, and closing Al Jazeera. Qatar refuses to comply, leading to supply disruptions and strengthened relations with Iran and Turkey.

Sunday, 4 June, 2017