The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of SAA Services (Private) Limited by Systems Limited from the British American Tobacco International Holdings (UK) Limited. The transaction, executed under a Share Purchase Agreement, was reviewed under Phase-I of CCP’s merger assessment framework in accordance with the Competition Act, 2010. Systems Limited,
China’s biggest state banks are lending billions to Aramco’s Jafurah gas project, though its funds have passed on the opportunity to invest in the venture, three people familiar with the matter said. Chinese banks provided more than a third of the financing for what will potentially be the biggest shale gas project outside of the US, with Bank of China, ICBC and China Construction Bank each len
Pakistan’s Secure Logistic-Trax Ltd (SLG-Trax) has approved talks to acquire Singapore-based Finova Technologies, following the grant of an NBFC (Non-Banking Finance Company) license to its subsidiary LogiServe (Pvt) Ltd. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. “Following up on the issuance of NBFC license to LogiServe (Pvt)
The Pakistani rupee maintained positive momentum against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Friday. At 10am, the currency was hovering at 281.10, a gain of Re0.17 against the greenback. On Thursday, the local unit closed at 281.27. Globally, the yen edged lower on Friday, trimming its sharpest weekly gain in more than four mon
Positive momentum persisted at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index hovering near the 166,000 level during the opening hours of trading on Thursday. At 10:20am, the benchmark index was hovering at 165,912.81, an increase of 272.48 points or 0.16%. Buying interest was observed in key sectors, including automobile assemblers, commercial banks, oil and gas explora