Pakistan News

Corporate Watch

Corporate Watch

PTCL to introduce Blackboard LMS

ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) has signed an agreement with IT Butler, a front-end partner of Blackboard Inc, an educational technology company, to offer Learning Management System (LMS) software in Pakistan.

Through this agreement; PTCL will be introducing Blackboard LMS as an exclusive partner, says a press release.

FBR issues SRO913

ISLAMABAD: The Federal Board of Revenue has issued draft rules for filing of monthly withholding statements electronically.

A notification SRO913 issued on Tuesday sought feedback from relevant stakeholders on the rules within seven days.—Staff Reporter

Bruno becomes CEO, MD of Nestlé Pakistan

KARACHI: Bruno Olierhoek has taken over the responsibilities of Managing Director and CEO of Nestlé Pakistan after the departure of Magdi Batato.

Batato has moved to Nestlé headquarters in Switzerland as the Executive Vice-President in charge of operations for Nestlé worldwide.

Verizon launches trial of mobile video service

NEW YORK: Verizon Communications Inc will launch a trial version of its new mobile video service on Tuesday, aiming to prove that telecom players can compete with mobile ad industry titans Google Inc and Facebook Inc.

Verizon said its service, a mobile app dubbed “go90”, will be offered initially to a select set of its own customers, with advertisements from well-known brands, which it declined to name, but without newly acquired ad technology from AOL, the media company it bought in June for $4.4 billion.

Verizon is targeting young viewers or millennials with about 100 to 200 hours of exclusive content from online video networks such as AwesomenessTV and Machinima, said Brian Angiolet, Verizon’s senior vice president, consumer products. The free service will drive revenue from data usage and targeted advertising.—Reuters

GE’s Alstom buyout approved by EU

STRASBOURG: The EU announced Tuesday it had approved a deal for US giant General Electric to acquire the energy business of French company Alstom for 12 billion euros ($13.4bn), after Alstom agreed to sell some assets to an Italian rival.

The decision ends months of uncertainty and tension over the deal, part of a drive by the American conglomerate to stake more of its future on industrial operations.

EU anti-trust regulators had expressed concern the deal could lead to too much concentration in the gas-turbine sector, leaving only GE and Siemens in the highly strategic market.—AFP

Published in Dawn, September 9th, 2015

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