The investment bank managing the attempt by a Turkish investor to buy more than 51 per cent shares and control of Tri-Star Power Ltd, a publicly listed electricity producer, said on Thursday it’s extending the deadline for making a public announcement of offer (PAO) by three months. Alpha Beta Core Solutions Ltd said the due diligence process by the potential acquirer was still in process even
Over a busy couple of days in New York, caretaker Prime Minister Anwaarul Haq Kakar met with the UN chief, the head of the International Monetary Fund (IMF) and the Chinese vice premier. In their interaction on Wednesday evening, Kristalina Georgieva urged PM Kakar to “tax the rich and protect the poor”. “What we are asking in our programme is, please collect more taxes from the wealthy and
The State Bank of Pakistan (SBP) has enhanced incentives for banks and exchange companies to increase home remittances which have been declining for more than a year. The central bank on Thursday issued two circulars for banks and exchange companies. “For any incremental home remittance of the financial institution (FI) up to five per cent, between five and 10pc, and over 10pc, the cash ince
As the crackdown on sugar hoarders and speculators has started yielding some relief, the arrival of three ships loaded with imported wheat has also brought down prices of grain as well as flour varieties. A ship carrying 37,000 tonnes of Bulgarian wheat would start unloading the grain in a day or two while two more ships carrying 55,000 tonnes and 53,602 tonnes of Russian wheat have arrived at
A faulty refrigeration system of the shipping line has been blamed for the fungus detected in the fresh chilled meat shipment of a Pakistani company to the United Arab Emirates that prompted the Gulf state to ban imports, at least for the time being, and bringing a bad name to Pakistan. The ban follows the arrival of several containers of substandard fresh beef in Dubai, as reported by the Duba