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...

  • Soybean vessel at Karachi Port to be shifted to Port Qasim as source of toxic gas remains elusive

    A vessel carrying a soybean shipment will be shifted from Karachi Port to Port Qasim, said Karachi Port Trust (KPT) spokesperson Mohammad Shariq on Wednesday after the government was advised to consider the "exposure to soybean dust" as a cause for breathing difficulties being faced by the residents of Karachi's Keamari area...

    A letter sent to Karachi Commissioner Iftikhar Shallwani by the International Centre for Chemical and...

  • Dysfunctional Hyderabad dry port

    THE dry port at Hyderabad, which has huge potential of handling import and export cargoes of the whole of Sindh except Karachi, remains dysfunctional...

    Located around 135km from Karachi, the dry port is managed by National Logistics Cell (NLC)...

  • Hyderabad to have another museum as culture dept gets possession of Mukhi House

    HYDERABAD: Mukhi House, built in 1920 by prominent figure of Hyderabad, Mukhi Jethanand, has been handed over to the Sindh government, which will convert it to Hyderabad Museum...

    Speaking to the media, she said that an amount of Rs25 million was being allocated for the repair, rehabilitation and renovation of the proposed museum now when the Mukhi House had formally been handed over to the department...

  • Rest house upgraded to circuit house

    GUJRAT: The district council rest house has been upgraded to the level of a circuit house and additional bedrooms and other infrastructure will now be built there for temporary stay of government officers and other functionaries...

    The rest house was established by the Gujrat district council around four decades ago and was under its control since then...

  • Avenfield House or ‘tax haven’ house?

    LONDON: The family of former prime minister Nawaz Sharif is not the only resident of Avenfield House on London’s Park Lane who bought their properties through offshore companies incorporated in tax havens...

    According to the UK Land Registry record, the majority of flats in Avenfield House are owned by offshore companies incorporated in tax havens like Panama, the British Virgin Islands and Guernsey...

  • Nepra fines power company for delays in submission of data

    ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) imposed on Monday a fine of Rs1 million on the Central Power Purchase Agency (CPPA), also known as the National Transmission and Despatch Company (NTDC), for failing to provide information needed for monthly fuel price adjustments within the stipulated time...

  • Comedy troupe Bhai Log Company is ready for a comeback

    A comedy troupe trusted to take the mickey out of those in the limelight, the Bhai Log Company has announced its comeback in a teaser image put up on its Facebook page and website...

    According to the Bhai Log Company website, this new show will take place on August 8 at Karachi's Royal Rodale Club...

  • Alphabet passes Apple as world’s biggest company — now what?

    NEW YORK: Even before it became a household name, Google parent Alphabet has become the world’s most valuable company, vaulting past Apple in a sign of an evolving technology landscape...

    Apple ends a run of four years as the world’s largest publicly traded company, having overtaken Exxon Mobil on January 25, 2012...

  • Private company blocked from importing 20pc cheaper LNG

    ISLAMABAD: Amid legal vacuum surrounding the sale of around 140,000 tonnes of imported liquefied natural gas (LNG) to a few bulk consumers, a private company’s bid to arrange import of 20 per cent cheaper commodity is reported to have been blocked...

    A senior government official said the CNG industry represented by Universal Gas Company had struck a deal with an LNG supplier at less than $7 per million British thermal units (mmbtu)...

  • All the world’s a stage: UK’s Royal Shakespeare Company in first tour of China

    LONDON: Britain’s Royal Shakespeare Company embarks on its first major tour of China in 2016, presenting the Bard’s history plays about bloodshed, honour and kingship in mediaeval England to a new and potentially vast audience...

    Marking 400 years since William Shakespeare’s death, the prestigious theatre company will take productions of Henry IV Part I, Henry IV Part II and Henry V to Beijing, Shanghai and Hong Kong in February and...

  • Two local employees of Turkish waste management company killed in Rawalpindi

    Two Pakistani employees of a Turkish waste management company were killed and one injured in Rawalpindi in an incident of suspected target killing early on Saturday, police officials told DawnNews...

    Station house officer (SHO) Sadiqabad told DawnNews that the deceased had received multiple bullet wounds and had been shifted to a nearby hospital for a post-mortem examination...

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