KARACHI: “Now more than ever, academic and government leaders need to open their eyes to the need for learning, embracing and investing in advanced technologies, particularly the unprecedented opportunities that the cloud can bring”. These thoughts were expressed by Abid…
KARACHI: Pakistan’s overall petroleum products sales plummeted by over 4.0% YoY and as much as 20% MoM to 1.29mn tons in Aug-19, a level not seen at least since Jul-2009. Motor Spirit (MS) sales have grown at a miserly CAGR…
LONDON: JLEN, the listed environmental infrastructure fund, announced the acquisition of Warren Power Limited (WPL) for an initial consideration, including working capital, of £14.8 million subject to additional deferred payments up to £0.8 million. WPL owns 100% of the equity…
LONDON, UK: The Board of Dechra Pharmaceuticals has announced the acquisition of Ampharmco LLC (APC) and its associated holding companies, Dragon Fire Holdings LLC and Black Griffin Holdings LLC together with its manufacturing site based in Fort Worth, Texas, for…
LONDON: Oakley Capital Investments Limited announced that Oakley Capital Private Equity III has completed an investment in Alessi S.p.A (Alessi), the Italian high-end design business focused on home ware products. Alessi is an iconic homeware brand with 100 years of…
LONDON: Diversified Gas & Oil (DGO), the U.S. based owner and operator of natural gas, natural gas liquids, and oil wells as well as midstream assets, announced that the asset purchase agreement with EdgeMarc Energy Holdings, LLC, and certain of…
LONDON: Vodafone Group will be the official communication partner of Porsche Motorsport when the automobile manufacturer enters the 2019/2020 ABB FIA Formula E Championship. Formula E is the first fully-electric international single-seater racing series in which cars zoom at more…
LONDON: Tullow Oil announced it has been informed that its farm-down to Total and CNOOC will terminate at the end of 29 August 2019, following the expiry of the Sale and Purchase Agreements (SPAs). Tullow has been unable to secure…
KARACHI: Government of Pakistan has planned to upgrade and replace the existing central bank operated national payment gateway and payment system i.e. Real Time Gross Settlement System (RTGS) with a state-of-the-art Automated Transfer System (ATS+), an official said. “In recognition…
KARACHI: Pakistan’s overall electricity generation increased 3.0 percent to 14,231 Gwh in July 2019 as against 13,751 Gwh in the corresponding period last year, official data released on Thursday suggests. “Slender rise in power generation during the month is attributed…
SINGAPORE: AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to C (Weak) from C++ (Marginal) and the Long-Term Issuer Credit Rating to “ccc” from “b” of National Insurance Company Limited (National) (India)….
SINGAPORE: AM Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” from “bbb+” of Oriental Insurance Company Limited (Oriental) (India). The outlook of the FSR…