Highlights: April 29 - May 5, 2019
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The most interesting business stories that marked the last week.[break]New $450m gasoline complex under construction in Egypt
A high-octane gasoline complex is currently under construction with investments of $450m, Mahmoud El Shabory, head of Assiut Oil Refining Company (ASORC), announced....Uganda’s fuel quality compliance jumps from 32 percent to 99 percent
Adulterated fuel on the market has drastically reduced due to improved quality compliance, which now stands 99 percent, according to Uganda National Bureau of Standards....European Commission giving €1 billion targeting specifically young farmers
The European Commission and the European Investment Bank (EIB) launched a €1 billion loans package targeting specifically young farmers....Anadarko to resume talks with Occidental on $38 billion bid
Anadarko Petroleum said it planned to resume talks with Occidental Petroleum Corp over its $38 billion bid lodged in competition with an earlier bid from Chevron Corp....NSF gives Provident investors more time to accept $1.68 billion hostile bid
Non-Standard Finance (NSF) expressed “strong confidence” in its bid to buy Provident Financial on Monday, giving Provident’s investors more time to accept its 1.3 billion pound ($1.68 billion) offer....Parker Hannifin to buy Lord Corp for $3.68 billion
Parker Hannifin Corp said it would buy privately held adhesives and coatings maker Lord Corp for about $3.68 billion in cash....MIRA-managed consortium will acquire 50.04% stake in IGH for 1.8 bn euros
In mid-February, RWE acquired the majority shareholding in the Czech distribution system operator innogy Grid Holding (IGH) from innogy SE....Sainsbury’s profits fell 41.6 percent
Sainsbury’s profits fell 41.6 percent last year as the company struggled with restructuring charges and its attempted merger with Asda....New Zealand unemployment rate falls to nearly 10-year low
Unemployment rate of New Zealand fell to 4.2 percent, close to its 10-year low, announced Statistics New Zealand....Trump and Democratic leaders agree to spend $2 trillion on U.S. infrastructure
President Donald Trump and Democratic leaders agreed to spend $2 trillion on U.S. roads, bridges, power grids, water and broadband infrastructure....OOIL sells Long Beach terminal for $1.8 billion
Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion....Volume of cyber attacks in UK increased over 140% in 2018
Esentire announced the release of its U.K. Threat Intelligence Spotlight, an inaugural report that details the unique threat landscape that small and medium enterprises must contend with in the United Kingdom (U.K.)....Hong Kong Q1 GDP growth rate weakest since 2009
The Hong Kong economy advanced 0.5 percent year-on-year in the first quarter of 2019, slowing from a downwardly revised 1.2 percent expansion in the previous period, an advance estimate showed....3M to buy Acelity and its KCI subsidiaries for almost $7 billion
3M announced that it has entered into a definitive agreement to acquire Acelity and its KCI subsidiaries worldwide....DowDuPont Q1 adjusted earnings per share decreased 25 percent
GAAP earnings per share from continuing operations totaled $0.23 in Q1, a decline of 51 percent versus the year-ago period of $0.47....HSBC Holdings plc Q1 profit before tax rose 30.7 percent
HSBC Holdings reported Friday that its first-quarter profit before tax rose 30.7 percent to $6.21 billion from last year's $4.76 billion....Societe Generale Q1 profit fell 26%
Societe Generale first-quarter profit fell 26% over the first three months of the year, as challenging market conditions continued to hobble Europe’s banks....Potato prices in Slovakia up by more than 50%
Potatoes in Slovakia have become more than 50% more expensive than last year, reports Eva Sadovská, analyst for the Slovak Farmers Association (SFD)....Fiat Chrysler Automobiles Q1 adjusted EBIT decreased 29%
Fiat Chrysler Automobiles reported that its first-quarter adjusted EBIT decreased 29%, primarily from lower volumes partially offset by positive net pricing in North America....TransCanada Q1 net income jumps to $1.004 billion
TransCanada Corporation announced net income attributable to common shares for first quarter 2019 of $1.004 billion or $1.09 per share compared to net income of $734 million or $0.83 per share for the same period in 2018....Sinclair Broadcast to buy 21 regional sports networks from Disney in $10.6 billion deal
Sinclair Broadcast Group will acquire the equity interests in 21 Regional Sports Networks and Fox College Sports, which were acquired by The Walt Disney Company in its acquisition of Twenty-First Century Fox....Cuba and EU warn US after new sanctions against Cuba, US firms already target of suits
Cuban Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca, denounced the new measures imposed by the US Government against the island and highlighted Washington's international isolation....Total in $8.8 billion deal with Occidental for Anadarko's Africa assets
Total said it had reached a binding agreement with Occidental to acquire Anadarko assets in Algeria, Ghana, Mozambique and South Africa for a consideration of $8.8 billion.... ■