Coca-Cola Co, the world’s largest beverage company, is reportedly purchasing BodyArmor, an American sports drink, for $5.6 billion.
The deal, which is expected to be announced as soon as Monday, would value the sports drink brand at about $8 billion, sources said.
Coca-Cola already owns 30 percent of BodyArmor and now it is buying the remaining 70 percent shares.
American basketball star Kobe Bryant, who died in a helicopter crash in early 2020, had invested $6 million in BodyArmor. The buyout would give Bryant’s estate about $400 million.
BodyArmor’s sales are expected to touch $1.4 billion this year.
UAE fuel prices announced for March 2024
The Fuel Prices Monitoring Committee has given the green light for an increase in gasoline and diesel prices for March 2024. The approved hike ranges between 15 and 16 fils per liter for gasoline and 17 fils for diesel, compared to February 2024 prices.
Fuel distribution companies have promptly announced the new prices, effective from Friday, March 1, 2024. The updated pricing includes a 5% value-added tax.
Specifically, the price per liter of super gasoline “98” is set to rise by 15 fils, reaching 3.03 dirhams in March, up from 2.88 dirhams in February. Special gasoline “95” will see an increase of 16 fils, from 2.76 dirhams to 2.92 dirhams, while E-Plus 91 gasoline will climb by 16 fils, reaching 2.85 dirhams from 2.69 dirhams. Additionally, the price of diesel will experience a 17 fils per liter hike, escalating from 2.99 dirhams in February to 3.16 dirhams in March.
This decision follows three consecutive monthly reductions in gasoline and diesel prices approved by the committee for January 2024. The reduction ranged between 13 and 14 fils for gasoline and 19 fils for diesel per liter compared to December 2023 prices.
Notably, the Ministry of Energy’s approved fuel price standards are subject to monthly adjustments based on the global average oil price, incorporating distribution companies’ operating costs.
New fuel prices are:
-Super 98 petrol will cost Dh3.03 a litre, compared to Dh2.88 in February.
-Special 95 petrol will cost Dh2.92 per litre, compared to Dh2.76 last month.
-E-Plus 91 petrol will cost Dh2.85 a litre, compared to Dh2.69 a litre in February.
-Diesel will be charged at Dh3.16 a litre compared to Dh2.99 last month.
Luxury cars showroom opens in Dubai for premium motorists
A new car showroom dedicated to luxury supercars has opened near the Equiti metro station on the busy Sheikh Zayed Road, Dubai.
Set up by the accomplished automobile stalwart Sarabdeep Singh Bassi with his Man Friday Walid Al Balushi, the showroom opening witnessed a range of Lamborghinis, Ferraris, McLarens, Mercedes and Bentleys along with some top options in the Land Rover range as well for a rich sampling of the showroom’s USP. The inauguration ceremony was graced by UAE businessman and SJM Group chairman Sheikh Juma bin Maktoum bin Juma Al Maktoum as the chief guest.
Bassi is a veteran of Dubai’s automobile circuit with showrooms for used and mid-range cars in three emirates – Dubai, Sharjah and Abu Dhabi – since 2004 when he landed from the United States, where too he operated in the similar industry but around trucks and transport for a brief while.
According to Balushi, now is as good time as any to have a cars showroom for the upper echelons of the society. “Our Emirati folks are always a keen, regular market, but we also see a lot of Russians and people from the adjoining regions looking up high-end cars.”
This showroom is the latest addition to their Advantage Motors brand which deals in mid-range levels of cars in the three emirates.
“Already the response is very good,” Bassi said on the sidelines of the inauguration ceremony amid much fanfare. “We have more expansion plans like opening other automotive businesses after this. Our customers are from all over UAE and from other countries as well like Russia, Middle East countries, China, All Over Africa, and others. We are also promoting electric vehicles sale which are environment friendly.”
The vast showroom on the Sheikh Zayed Road, diagnonally across the Mall of Emirates, is laid out over 7,000 square feet and separate parking, with the best of knowledgeable staff at hand to help buy and sell the cars, along with other services like buying premium number plates, etc.
UAE sees upward surge in fuel prices for September
The UAE has announced its fuel prices for September, following its usual practice of monthly revisions. The new rates will apply from September 1 and are as follows:
-Super 98 petrol will cost Dh3.42 a litre, compared to Dh3.14 in August.
-Special 95 petrol will cost Dh3.31 per litre, compared to Dh3.02 last month.
-E-Plus 91 petrol will cost Dh3.23 a litre, compared to Dh2.95 a litre in August.
-Diesel will be charged at Dh3.40 a litre compared to Dh2.95 last month.
After a similar rise in July, petrol prices in the country increased during August. Over the past year, prices have displayed fluctuations, yet they remain notably lower than those of the same period last year.
أسعار الوقود الشهرية: أسعار الوقود لشهر سبتمبر 2023 وفقاً للجنة متابعة أسعار الجازولين والديزل في #الإمارات
— Emarat (امارات) (@EmaratOfficial) August 31, 2023
Take a Quick Look: Fuel Prices Throughout the Year