Profitloss Centerstage Events

A deal of $20 billion between Saudi Arabia and Pakistan took center stage on Sunday, 17 February 2019 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 2

The Republic of Macedonia officially changes its name to North...

The Republic of Macedonia officially changes its name to North Macedonia, resolving a long-standing dispute with Greece. The name change was agreed upon through negotiations between the two countries, and all United Nations member states have accepted the final agreement. The resolution of the naming issue allows for closer ties and trade links between the two nations.

Monday, 11 February, 2019

Levi Strauss & Co., known for its blue jeans, files...

Levi Strauss & Co., known for its blue jeans, files for an initial public offering (IPO) to raise over $600 million. The IPO aims to give the company equity and financial flexibility for potential acquisitions and brand diversification. Levi's, the largest seller of jeans worldwide, seeks to adapt to changing market trends beyond denim. The IPO marks the company's return to public markets after three decades.

Tuesday, 12 February, 2019

Ant Financial Services Group, the world's most valuable fintech startup,...

Ant Financial Services Group, the world's most valuable fintech startup, acquires UK-based money-transfer company WorldFirst for over £500 million. The acquisition expands Ant's global presence and follows its unsuccessful bid to acquire MoneyGram International Inc. last year. WorldFirst recently ceased serving US customers, a move that may help Ant avoid scrutiny from the Committee on Foreign Investment in the US (CFIUS). The deal strengthens Ant's position in the international money-transfer market.

Wednesday, 13 February, 2019

Mexican President Andrés Manuel López Obrador unveils a $5.2 billion...

Mexican President Andrés Manuel López Obrador unveils a $5.2 billion rescue package for Petróleos Mexicanos (Pemex) to address its financial challenges and reverse falling oil output. The government aims to prevent Pemex's financial condition from negatively impacting public finances and triggering a downgrade of Mexico's credit rating. The rescue package includes capital injection, pension obligation transfers, tax reduction, and savings from combatting fuel theft. However, concerns remain about the efficacy of the plan.

Thursday, 14 February, 2019

Apollo Global Management takes a major step to become one...

Apollo Global Management takes a major step to become one of the largest owners of local television stations by acquiring a majority stake in 13 stations owned by Cox Media Group. The deal, valued at around $3 billion, includes Cox's radio and newspaper properties in Ohio. Apollo is also finalizing agreements to acquire additional stations from Northwest Broadcasting and Nexstar Media Group, amounting to approximately $1.5 billion in deals.

Friday, 15 February, 2019

Saudi Arabia pledges $20 billion in investment deals with Pakistan...

Saudi Arabia pledges $20 billion in investment deals with Pakistan to support its fragile economy. The deals include funding for an $8 billion oil refinery in Gwadar. The investment comes as part of Saudi Crown Prince Mohammed bin Salman's Asian tour. Pakistan, facing a financial crisis with limited foreign reserves, seeks international support to reduce its reliance on a bailout from the International Monetary Fund (IMF). Saudi Arabia has already provided a $6 billion loan to Pakistan.

Saturday, 16 February, 2019

Sixteen states, including California, sue President Donald Trump over his...

Sixteen states, including California, sue President Donald Trump over his national emergency declaration to fund the border wall, arguing that it exceeds his presidential powers and redirects federal money without congressional approval. The White House believes the emergency declaration can provide an additional $6.6 billion for the wall, enabling the construction of 234 miles along the border.

Sunday, 17 February, 2019