Pakistan News

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  • Dutch company to acquire Engro Foods Ltd

    KARACHI: A Dutch dairy cooperative is set to buy out food giant Engro Foods Limited with an investment of around $460million, in what would amount to the largest private sector takeover by a foreign firm in the country's history...

    FrieslandCampina International Holding BV intends to acquire a 51 per cent stake of Engro Foods Limited, one of the largest listed companies at the Pakistan Stock Exchange (PSX), a notification on the bourse's...
  • 10 banks sign pact to create Pakistan Corporate Restructuring Company Ltd

    KARACHI: The country’s 10 banks signed an agreement on Friday to establish Pakistan Corporate Restructuring Company Ltd (PCRCL)...

    Under the provisions of Corporate Restructuring Companies Act 2016 with an initial paid-up capital of Rs500 million, the banks have decided to establish the Corporate Restructuring Company (CRC) — first of its kind company in the country...

  • AGP Ltd raises Rs2.8 billion

    KARACHI: AGP Ltd, a pharmaceutical company in the fold of OBS Group, has raised Rs2...

    At the gong-ringing ceremony at the PSX on Monday that signalled the start of trading of company’s stock, AGP Ltd share price quickly hit the upper circuit of 5 per cent to take the stock price to Rs84, from the offered price of Rs80 a share...

  • Business, transport suspended in India during 14-hour lockdown for coronavirus

    At least 341 people have so far contracted the disease and four deaths have been reported in India due to the coronavirus, according to official data on Sunday...

    While the curfew was voluntary and not an outright ban on the movement of people, Modi’s national appeal for social distancing dramatically reduced the number of people taking to India’s densely crowded streets...

  • Our leaders are running the country like the East India Company: Imran Khan

    The incumbent leaders of Pakistan are running the country in the same manner the British ran East India Company, Pakistan Tehreek-i-Insaf Chairman Imran Khan claimed while addressing his party's first public gathering in Quetta in five years...

    “Our country is being run like a company,” he said, “In Sindh, we have Zardari’s companies, In Balochistan its Fazlur Rehman and Achakzai companies, in Khyber Pakhtunkhwa we have Asfandyar’s...

  • India rare bright spot for Apple as company forecasts first revenue drop in 13 years

    SAN: As China sales show signs of cooling, Apple Inc is touting India's appetite for iPhones, betting that rising wages and an expanding middle class will pull consumers away from the cheap alternatives that currently dominate the market...

    In an earnings call in which the company reported meagre iPhone growth and forecast its first revenue drop in 13 years, the Indian market stood out as a rare bright spot for Apple...

  • US company to build six N-reactors in India

    WASHINGTON: An American company will build six nuclear reactors in India under an agreement announced after a White House meeting between Indian and US leaders on Tuesday...

    The United States also recognised India as a “major defence partner”, on a par with America’s closest allies, for defence-related trade and technology transfers...

  • ‘CPEC could become another East India Company’

    ISLAMABAD: Lawmakers from the upper house on Monday expressed the fear that the China-Pakistan Economic Corridor (CPEC) could turn into another East India Company if the country’s interests were not actively protected...

    “Another East India Company is in the offing; national interests are not being protected...

  • Ashwin and company put India in the driving seat

    VISAKHAPATNAM: Ravicha­ndran Ashwin on Friday said he has a “psychological advantage” over England after his all-round showing put India on top in the second Test as the visitors struggled against spin on day two here on Friday...

    England were reeling at 103 for five at stumps in response to India’s first innings score of 455...

  • Shami and company put India on top in first Bangladesh Test

    INDORE: Mohammed Shami led an inspired pace attack to give India the opening day honours after they bundled out Bangladesh for 150 in the first Test here at the Holkar Cricket Stadium on Thursday...

    India were 86 for one at stumps after Rohit Sharma was caught behind off paceman Abu Jayed for six...

  • US calls China ‘new East India Company’ at sea

    WASHINGTON: A senior US official on Tuesday likened China’s state enterprises to Britain’s colonising East India Company as Washington takes a tougher stance against Beijing in the dispute-rife South China Sea...

    “These state enterprises are modern-day equivalents of the East India Company,” he said...

  • Apple opens map development office in India's Hyderabad

    NEW DELHI: Apple said Thursday it will open a development office in Hyderabad, as its chief executive Tim Cook continued his India charm offensive with an investment boon to one of the country's top technology hubs...

    It pits Apple against Google, which has made maps a key focus of its attempt to forge inroads in India, a vast but largely untapped Internet market where almost a billion people are still not online...

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