By Jaspreet Kalra MUMBAI, March 4 (Reuters) - Walmart-backed Indian fintech firm PhonePe, the country's most used payments platform, is aiming to list at a valuation of between $9 billion and $10.5 billion, two people with direct knowledge of the matter said. That suggests the IPO will raise about $900 million to $1.05 billion. But even at the top end, the deal would mark a cut from the $12 bill...
By Jaspreet Kalra MUMBAI, March 4 (Reuters) - Walmart-backed Indian fintech firm PhonePe, the country's most used payments platform, is aiming to list at a valuation of between $9 billion and $10.5 billion, two people with direct knowledge of the matter said. That suggests the IPO will raise about $900 million to $1.05 billion. But even at the top end, the deal would mark a cut from the $12 billion valuation at which PhonePe last raised $100 million in private markets in 2023. Walmart will trim its stake in PhonePe by about 12% in the firm's initial public offering, while Tiger Global and Microsoft plan to exit their stakes, according to the firm's IPO filing. The three firms will sell around 50.7 million shares in the offering and PhonePe will not issue any new shares. PhonePe, which competes with Google Pay and Paytm in India, filed for its IPO in September and aims to complete the process by April, one of the sources said, although the timeline could shift depending on capital market conditions, including any impact from the Middle East conflict. Both sources requested anonymity as the discussions are confidential. PhonePe, Walmart, Tiger Global, and Microsoft did not immediately respond to emails seeking comment. The expected valuation of PhonePe, which means "on the phone" in Hindi, and timing of the issue have not been previously reported. PhonePe's listing would make it India's second-largest fintech IPO, behind Paytm's about $20 billion listing in 2021. Paytm currently trades at a market capitalization of $7.1 billion. 'MONETISATION REMAINS A QUESTION MARK' PhonePe has more than 650 million registered users and processed nearly 10 billion of the 21.7 billion transactions on India's unified payments interface (UPI) in January, regulatory data showed. But payments in India remain a low-margin business. India launched UPI in 2016 and barred companies from charging fees for the instant payment service to spur digital payments and reduce cash use in Asi...
ronniechua China’s official NBS Manufacturing PMI slipped to 49.0 in February 2026 from 49.3 in the previous month, slightly below market forecasts of 49.1 and marking the lowest print since October. China’s official NBS Non-Manufacturing PMI edged up to 49.5 in February 2026 from 49.4 in the previous month but remained below market expectations of 49.8. Composite PMI Output Index fell to 49.5 in ...
ronniechua China’s official NBS Manufacturing PMI slipped to 49.0 in February 2026 from 49.3 in the previous month, slightly below market forecasts of 49.1 and marking the lowest print since October. China’s official NBS Non-Manufacturing PMI edged up to 49.5 in February 2026 from 49.4 in the previous month but remained below market expectations of 49.8. Composite PMI Output Index fell to 49.5 in February 2026 from 49.8 in the previous month. The RatingDog China General Manufacturing PMI climbed to 52.1 in February 2026 from 50.3 in January, the highest since December 2020 and marking a third straight month of growth in factory activity. The RatingDog China General Services PMI surged to 56.7 in February 2026 from 52.3 in January, pointing to the highest reading since May 2023. Composite PMI rose to 55.4 in February 2026 from 51.6 in January. On Wednesday, the Shanghai Composite to below 4,090, while the Shenzhen Component dropped 0.2% to 13,995 on Wednesday, extending losses from the prior session as investors reacted to mixed PMI data , and the offshore yuan depreciated past 6.92 per dollar on Wednesday, marking its fourth consecutive session of losses as the strengthening greenback continued to weigh on the currency. ETFs: (NYSEARCA: FXI ), (NYSEARCA: KWEB ), (NYSEARCA: CQQQ ), (NASDAQ: MCHI ), (NYSEARCA: ASHR ), (NYSEARCA: YINN ), (NYSE: TDF ), (NYSEARCA: CHIQ ), (NYSEARCA: GXC ), (NYSEARCA: EWH ), (NYSEARCA: KBA ), (NYSEARCA: YANG ), (NASDAQ: CXSE ), (NYSE: CAF ), (NYSEARCA: CWEB ), (NASDAQ: PGJ ), (NYSEARCA: KURE ). Currency: ( CNY:USD ) More on China markets and economy: KWEB: Almost So Bad, It's Good, Where To Dip Your Toe Chinese Stocks And The FXI After The Supreme Court Ruling On U.S. Tariffs YANG: How It Works And How To Use It Asia markets in red amid Iran tensions; Seoul leads regional rout with double-digit losses Asian stocks slide as Middle East escalation spikes oil prices and shakes investor confidence
Malaysia’s anti-graft agency is investigating alleged abuse of power, fraud and governance issues linked to a deal between the government and Arm Holdings Plc , AFP reported . Malaysia inked a pact in March last year to pay the SoftBank Group Corp.-owned UK firm $250 million over a period of ten years for a slew of semiconductor-related licenses and knowhow. The Malaysian Anti-Corruption Commissio...
Malaysia’s anti-graft agency is investigating alleged abuse of power, fraud and governance issues linked to a deal between the government and Arm Holdings Plc , AFP reported . Malaysia inked a pact in March last year to pay the SoftBank Group Corp.-owned UK firm $250 million over a period of ten years for a slew of semiconductor-related licenses and knowhow. The Malaysian Anti-Corruption Commission has summoned 12 witnesses so far from the economy ministry and various government agencies, MACC’s chief Azam Baki was cited as saying by AFP. MACC said in a statement Wednesday that it was seeking James Chai to assist in an ongoing investigation. Chai is a former aide of former Economy Minister Rafizi Ramli, who oversaw the deal. Rafizi has denied wrongdoing, saying in a statement last month that the deal was not rushed and went through cabinet deliberations.
Advanced Micro Devices NASDAQ: AMD CEO Lisa Su outlined the company’s priorities for 2026, highlighted new large-scale AI infrastructure agreements, and addressed questions around product ramp timelines, supply constraints, and market demand during a conversation with Morgan Stanley semiconductor analyst Joseph Moore. Get Advanced Micro Devices alerts: Sign Up 2026 outlook and financial targets Su...
Advanced Micro Devices NASDAQ: AMD CEO Lisa Su outlined the company’s priorities for 2026, highlighted new large-scale AI infrastructure agreements, and addressed questions around product ramp timelines, supply constraints, and market demand during a conversation with Morgan Stanley semiconductor analyst Joseph Moore. Get Advanced Micro Devices alerts: Sign Up 2026 outlook and financial targets Su said AMD entered 2026 with “a lot of momentum” driven by demand for high-performance compute and an environment that rewards strong product cycles and deep customer relationships. She pointed to growth potential in the data center business and said AMD is launching its MI450 accelerator this year. Referencing AMD’s Financial Analyst Day held a few months earlier, Su reiterated an “ambitious” financial model calling for roughly a 35% compound annual growth rate over the next three to five years, along with a target of more than $20 in earnings per share over that timeframe. Meta partnership, semi-custom GPUs, and warrants Su described a newly announced long-term strategic partnership with Meta as a deepening of an existing relationship in which Meta has been a major CPU customer and an early adopter of AMD’s MI300 and MI350 series accelerators. She said AMD and Meta see “an inflection point in AI infrastructure,” with increasing workload specificity across training, inference, and different model sizes. Su said the agreement is a “6 GW long-term strategic partnership” that includes a semi-custom GPU designed for Meta, alongside AMD’s work with Meta on CPUs and other system components. She characterized the engagement as “vertically integrated,” starting from Meta’s workloads and using AMD’s architecture to tailor a solution intended to expand AMD’s footprint in Meta’s ecosystem over multiple generations. Addressing investor questions about warrants tied to the Meta deal, Su said warrants are “a very special instrument” AMD uses only for “transformational partnerships,” noti...
Good morning . Oil prices rise as Donald Trump’s plan to escort and insure tankers in the Strait of Hormuz fails to bring calm. Blackstone executives chip in $150 million for fund redemption payments. And FIFA is in high spirits about the World Cup despite chaos in Iran. Listen to the day’s top stories . Brent extended gains as fresh attacks flared in the Middle East and traders weighed Donald Tru...
Good morning . Oil prices rise as Donald Trump’s plan to escort and insure tankers in the Strait of Hormuz fails to bring calm. Blackstone executives chip in $150 million for fund redemption payments. And FIFA is in high spirits about the World Cup despite chaos in Iran. Listen to the day’s top stories . Brent extended gains as fresh attacks flared in the Middle East and traders weighed Donald Trump’s plan to insure and escort oil tankers and other vessels through the Strait of Hormuz. The shipping industry sees it as only a partial solution to a historic crisis, while US Navy escorts would risk being “sitting ducks” for Iran, ING said. Meanwhile, Iran’s Revolutionary Guards said they have “complete control” of the strait, AFP reported. Asian stocks plunged the most in a year , led by the biggest South Korean crash since the global financial crisis in 2008. Thai markets also plummeted. US futures dropped, while European contracts were mixed. Gold and the dollar gained. Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets. The US president said he’ll “cut off all trade with Spain” after the country denied access to its military bases for his bombing campaign against Iran. Madrid said Washington must respect international law. Chancellor of the Exchequer Rachel Reeves said the UK shouldn’t sacrifice its principles for more favorable trading terms with the US, as she stood by the government’s decision to withhold British backup for the American-Israeli assault on Iran. UK's Reeves on Trade With US, Economy, Iran War Watch the Video More than 25 Blackstone Inc. executives pitched in about $150 million to help the firm’s flagship private credit fund pay out investors in a record wave of withdrawals. Separately, the company’s talks with New World have stalled because the billionaire family that runs the developer is reluctant to give up control. Related Stories Goldman’s Solomon Surprised by ‘Benign’ Markets on War Private Marke...
(RTTNews) - Bilfinger SE (BFLBY.PK), a German industrial services provider, reported Wednesday lower net profit in its fourth quarter, despite higher revenues. Further, the company issued outlook, expecting margin and revenue growth in fiscal 2026 and mid term. In the quarter, net profit dropped 19 percent to 42 million euros from the prior year's 52 million euros. Earnings per share were 1.14 eur...
(RTTNews) - Bilfinger SE (BFLBY.PK), a German industrial services provider, reported Wednesday lower net profit in its fourth quarter, despite higher revenues. Further, the company issued outlook, expecting margin and revenue growth in fiscal 2026 and mid term. In the quarter, net profit dropped 19 percent to 42 million euros from the prior year's 52 million euros. Earnings per share were 1.14 euros, down 18 percent from 1.38 euros a year ago. The company's EBITA was 87 million euros, a decrease of 17 percent from the previous year's 75 million euros. The EBITA margin decreased to 6.1 percent from 5.5 percent last year. Earnings Before Interest, Taxes, Depreciation, and Amortization or EBITDA increased by 8 percent to 118 million euros from 109 million euros a year ago. Revenue grew 4 percent to 1.42 billion euros from last year's 1.36 billion euros last year, with an organic growth of 3 percent. Orders received by the company declined 5 percent to 1.273 million euros, with an organic decrease of 8 percent. However, the order backlog increased 5 percent to 4.316 billion euros, with an organic increase of 4 percent. Further, the Executive Board and Supervisory Board will propose an increased dividend of 2.80 euros per share to the Annual General Meeting in May, up from 2.40 euros per share in the previous year. Looking ahead, Bilfinger expects to continue growing profitably in 2026. The company anticipates revenue of 5.4 to 5.9 billion euros, an EBITA margin of 5.8 to 6.2 percent, and free cash flow of 250 to 300 million euros. In fiscal 2025, revenues were 5.43 billion euros, and EBITA margin was 5.5%. Bilfinger is on track to achieve its mid-term targets for 2027, which include average annual revenue growth of 4 to 5 percent and an EBITA margin of 6 to 7 percent. The new mid-term targets for 2030 include average annual revenue growth of 8 to 10 percent, including acquisitions, and an EBITA margin growth to 8 to 9 percent. The company projects that both revenue and ...
Advanced Micro Devices NASDAQ: AMD CEO Lisa Su outlined the company’s priorities for 2026, highlighted new large-scale AI infrastructure agreements, and addressed questions around product ramp timelines, supply constraints, and market demand during a conversation with Morgan Stanley semiconductor analyst Joseph Moore. Get Advanced Micro Devices alerts: Sign Up 2026 outlook and financial targets Su...
Advanced Micro Devices NASDAQ: AMD CEO Lisa Su outlined the company’s priorities for 2026, highlighted new large-scale AI infrastructure agreements, and addressed questions around product ramp timelines, supply constraints, and market demand during a conversation with Morgan Stanley semiconductor analyst Joseph Moore. Get Advanced Micro Devices alerts: Sign Up 2026 outlook and financial targets Su said AMD entered 2026 with “a lot of momentum” driven by demand for high-performance compute and an environment that rewards strong product cycles and deep customer relationships. She pointed to growth potential in the data center business and said AMD is launching its MI450 accelerator this year. Referencing AMD’s Financial Analyst Day held a few months earlier, Su reiterated an “ambitious” financial model calling for roughly a 35% compound annual growth rate over the next three to five years, along with a target of more than $20 in earnings per share over that timeframe. Meta partnership, semi-custom GPUs, and warrants Su described a newly announced long-term strategic partnership with Meta as a deepening of an existing relationship in which Meta has been a major CPU customer and an early adopter of AMD’s MI300 and MI350 series accelerators. She said AMD and Meta see “an inflection point in AI infrastructure,” with increasing workload specificity across training, inference, and different model sizes. Su said the agreement is a “6 GW long-term strategic partnership” that includes a semi-custom GPU designed for Meta, alongside AMD’s work with Meta on CPUs and other system components. She characterized the engagement as “vertically integrated,” starting from Meta’s workloads and using AMD’s architecture to tailor a solution intended to expand AMD’s footprint in Meta’s ecosystem over multiple generations. Addressing investor questions about warrants tied to the Meta deal, Su said warrants are “a very special instrument” AMD uses only for “transformational partnerships,” noti...
Su described a newly announced long-term strategic partnership with Meta as a deepening of an existing relationship in which Meta has been a major CPU customer and an early adopter of AMD’s MI300 and MI350 series accelerators. She said AMD and Meta see “an inflection point in AI infrastructure,” with increasing workload specificity across training, inference, and different model sizes. Referencing...
Su described a newly announced long-term strategic partnership with Meta as a deepening of an existing relationship in which Meta has been a major CPU customer and an early adopter of AMD’s MI300 and MI350 series accelerators. She said AMD and Meta see “an inflection point in AI infrastructure,” with increasing workload specificity across training, inference, and different model sizes. Referencing AMD’s Financial Analyst Day held a few months earlier, Su reiterated an “ambitious” financial model calling for roughly a 35% compound annual growth rate over the next three to five years, along with a target of more than $20 in earnings per share over that timeframe. Su said AMD entered 2026 with “a lot of momentum” driven by demand for high-performance compute and an environment that rewards strong product cycles and deep customer relationships. She pointed to growth potential in the data center business and said AMD is launching its MI450 accelerator this year. Advanced Micro Devices (NASDAQ:AMD) CEO Lisa Su outlined the company’s priorities for 2026, highlighted new large-scale AI infrastructure agreements, and addressed questions around product ramp timelines, supply constraints, and market demand during a conversation with Morgan Stanley semiconductor analyst Joseph Moore. Management reiterated an ambitious financial target of roughly 35% CAGR and >$20 EPS over 3–5 years, saying AI demand (and CPU demand) may be larger than expected despite near‑term CPU supply tightness, with capacity expansions planned through 2026–27. AMD plans to launch the MI450 accelerator this year with a second‑half weighted ramp (small shipments in Q3 and a sharper ramp into Q4), leveraging the ZT Systems acquisition and the Helios rack to deliver rack‑scale solutions and saying CoWoS packaging capacity is sufficient for volume shipments. AMD struck a long-term strategic deal with Meta for 6 GW of AI infrastructure capacity that includes a semi-custom GPU and performance‑based warrants aimed...