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(Bloomberg) -- South Sudan is banking on a better year in 2021 after efforts to rebuild its oil industry were knocked by the coronavirus and a collapse in crude prices.“We experienced prices that had never been there before and we are running at a loss” along with private operators, Awow Daniel Chuang, the undersecretary in the Ministry of Petroleum, said in an interview in Juba, the capital. “We have been affected much more than others because South Sudan, being a new country just emerging from war, has a lot of challenges.”South Sudan’s official oil production dropped 20,000 barrels to 170,000 barrels a day as lockdowns to control the pandemic delay the moving of production equipment and materials. The commodity is the landlocked, East African nation’s only major export and its success is crucial to an economy shattered by five years of conflict.Plans to boost output have also been delayed because the...
Synaptics Inc (SYNA) has signed a definitive agreement to buy DisplayLink Corp., a high-performance video compression technology company, for $305 million in an all-cash transaction.Synaptics expects the deal to add about $94 million in annualized sales and be immediately accretive to non-GAAP gross margins, non-GAAP operating margins, and non-GAAP earnings post-close. The transaction, which is expected to close in the company’s first quarter of fiscal year 2021, will be financed from existing cash on hand.DisplayLink’s high performance software compression technology enables universal docking and casting of high bandwidth video from any device to any display using any transport medium such as USB, Ethernet or Wi-Fi. For the enterprise IT market, the solution is applicable in multi-OS environments including Windows, MacOS, ChromeOS and Ubuntu Linux allowing for a myriad of devices to seamlessly dock to multiple high resolution (4K, 8K) displays.“Several market trends such as work from home (WFH), bring your own device...
(Bloomberg) -- European stocks climbed to a four-month high and German equities erased losses for the year after leaders agreed on a landmark recovery plan.Markets across the region are giving a vote of confidence to the 750 billion euros ($860 billion) stimulus package. Italy’s stock benchmark added 2%, leading gains among local exchanges. A gauge of risk in Europe’s investment-grade debt dropped to the lowest since February. The euro steadied after a recent rally.Norway’s Adevinta ASA surged 29% after agreeing to buy EBay Inc.’s online classifieds business for $9.2 billion, ending one of the largest auctions of the year. Silver extended gains above $20 an ounce. Stocks globally are marching higher on the back of more government stimulus and an unstoppable advance in technology companies that benefit from people shopping more online due to the pandemic. U.S. equity futures pointed to more gains on Tuesday after a blistering rally that sent...
Cybersecurity stock Fortinet (FTNT) has announced that it has snapped up OPAQ Networks, a Secure Access Service Edge (SASE) cloud provider based in Herndon, Virginia. Financial terms of the deal were not disclosed.OPAQ’s Zero Trust Network Access (ZTNA) cloud solution protects organizations’ distributed networks – from data centers, to branch offices, to remote users, and Internet of Things (IoT) devices.“The recent SASE market momentum further validates our Security-driven Networking approach and underscores what we’ve been saying for years. In this era of hyperconnectivity and expanding networks; with the network edge stretching across the entire digital infrastructure, networking and security must converge” comments Ken Xie, Founder, Chairman of the Board, and CEO.According to Xie, the acquisition of OPAQ further enhances Fortinet’s existing SASE offering, enabling Fortinet to deliver the most complete SASE platform on the market.“The Fortinet SASE platform delivers the broadest security and industry-leading SD-WAN and networking offerings that can all be...
Jul.21 -- Novartis AG Chief Executive Officer Vasant Narasimhan discusses second-quarter earnings, efforts to find a Covid-19 vaccine, and growth prospects. He speaks on "Bloomberg Markets: European Open" after the Swiss drugmaker trimmed its sales forecast for the year as the coronavirus pandemic hit demand for the eye drug Lucentis and other medicines....
