Rio Tinto mulling to attract bids over $2.5bn for last two coal mines
MELBOURNE/LONDON: At least three bidders are expected to submit final offers for global miner Rio Tinto’s Hail Creek and Kestrel coal mines...
Warren Buffet offloads stake in IBM, increases shareholding in Apple
NEW YORK: Warren Buffett’s Berkshire Hathaway Inc has sold another large piece of its stake in IBM Corp, backing further away from...
GSK to acquire Novartis’s consumer healthcare venture for $13 billion
ZURICH: GlaxoSmithKline said on Tuesday it will buy Novartis’s 36.5 percent stake in their consumer healthcare joint venture for $13 billion in...
Chinese company plans to invest $9bn in KE by 2030
ISLAMABAD: Shanghai Electric Power Company (SEPC) Chairman Yundan Wang said on Friday that his company was planning to invest $ 9 billion...
Coca-Cola expands into coffee with $5.1 billion deal for Britain’s Costa
For Coca-Cola, the deal adds to its efforts to move away from fizzy drinks towards more healthier options for increasingly health-conscious consumers
Global merger, acquisitions crossed $1.2 trillion in first quarter of 2018
LONDON/NEW YORK: Global mergers and acquisitions (M&A) had their strongest start ever in the first quarter of 2018, totaling $1.2 trillion in...
Govt gives security clearance to K-Electric deal
ISLAMABAD: A major hurdle in the way of K-Electric’s sale to Shanghai Electric Power has been removed as the government on Friday...
Defence & Interior Ministry issue NOC for K-Electric’s sale to Chinese entity
ISLAMABAD: Defence Ministry has given security clearance to Shanghai Electric Power (SEP) for the acquisition of K-Electric.
SEP received no-objection certificates from the...
Foreign banks eye financial advisory role in divestment of two LNG fired-power plants: Report
This divestment would rank as the country’s largest privatization deal since 2005 when Etisalat acquired a controlling stake in Pakistan Telecommunications Limited (PTCL) for $2.6 billion
Fatima Fertilizer, Fatimafert proposed merger delayed
LAHORE: A bourse filing Friday by Fatima Fertilizer Company Limited revealed its board of directors decided to delay the proposed merger between...
Bayer AG gets US regulator’s go-ahead to acquire Monsanto: WSJ
WASHINGTON: The U.S. Justice Department will allow German drugs and pesticides group Bayer AG to acquire Monsanto Co in a $62.5 billion...
PSM privatisation process to commence once again
It has been speculated that around 5 to 6 international firms have approached the federal government to reach an arrangement for the privatisation and revival of PSM.
PICIC insurance set to merge into Crescent Star Foods
LAHORE: A bourse notification Tuesday filed by PICIC Insurance revealed the company's board of directors had approved its merger with Crescent Star...
Careem moves into delivery service by acquiring Delivery Chacha
KARACHI: In a model replicating UberRush, Careem the ride-hailing service has ventured into the delivery segment by acquiring Delivery Chacha, an on-demand...
Kapco shelves plan to acquire 17.37pc stake in Hubco
LAHORE: A bourse notification from Kot Addu Power Company (KAPCO) disclosed it postponed plans to acquire 17.37pc stake in Hub Power Company...