In a major development for the country’s pharma sector, the Competition Commission of Pakistan (CCP) has authorised the acquisition of Novartis Pharma (Pakistan) Limited (Novartis Pakistan) by International Investment II Limited (IIL), the commission said on Saturday. The approval comes after the CCP completed its phase-I competition assessment under Section 11 of the Competition Act, 2010, and
AKD Group has joined the Arif Habib Corporation Limited (AHCL)-led consortium participating in the privatisation of Pakistan International Airlines Corporation Limited (PIACL). Arif Habib Limited disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform you that AKD Group, through its company AKD Group Holdings (Private) Limited, has jo
Gold prices rose more than 1% on Monday, buoyed by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic data that raised global slowdown worries. Spot gold gained 1.4% to $4,053.40 per ounce by 0435 GMT. US gold futures for December delivery rose 1.3% to $4,062.40 per ounce. “Gold is catching a solid bid from traders to kick off the week, with th
The Pakistani rupee continued to gain further ground against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10am, the currency was hovering at 280.62, a gain of Re0.2 against the greenback. During the previous week, the Pakistani rupee posted marginal gain as it appreciated by Re0.09 or 0.03% against the US dollar in the inter-ban
Ecopack Limited (ECOP) announced on Monday the appointment of key executives. ECOP shared in a notice to the Pakistan Stock Exchange (PSX) today. The notice said that the appointments were made in the 149th meeting of the Board of Directors of the company held on November 8. “Asad Ali Sheikh has been appointed as Chairman of the Board of Directors of the company for the period of three ye