STOCKHOLM: AstraZeneca Plc has agreed, subject to certain limited exceptions, to divest its 26.7% ownership in Viela Bio Inc. as part of the proposed acquisition of Viela by Horizon Therapeutics plc, a news release said. AstraZeneca is anticipating to receive cash proceeds and profit of c.$760-$780 million upon closing for the sale of the holding,…
January automobile sales likely to post 44% growth
Pakistan’s auto sales (cars, LCVs and jeeps) are likely to post stunning growth of 44% YoY in January, 2021. The sales estimates exclude KIA and Hyundai numbers. Total sales during January are expected to be around 16,950 units compared to 11,787 units last year. The 44% YoY jump would help increase auto sales to their…
Pakistan Fertilizers: All about “Yields”
Agriculture and fertilizer sector remained strong during the COVID-19 crisis. Despite challenges on supply chain front global fertilizer offtake witnessed growth of ~2% during FY20. Agriculture sector plays an important role in Pakistan’s economy. Despite being an agrarian country, Pakistan cropped area has remained stagnant over the years. Issues relate to poor crop yield and…
PSX holds Ceremony for onboarding of Meezan Bank as market maker
KARACHI: A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to welcome Meezan Bank Limited on-board as a Market Maker for Shariah-compliant debt securities on PSX. An agreement was signed between PSX and Meezan Bank today at PSX Trading Hall whereby Meezan Bank becomes the first Islamic bank to be recognized as Market Maker…
Bank Alfalah and Beaconhouse Group sign MoU for personal loan financing solutions
LAHORE: Bank Alfalah and The Beaconhouse Group – one of Pakistan’s largest private school networks – have signed a memorandum of understanding (MoU) to facilitate personal loan financing solutions for the employees of the Beaconhouse School System. The agreement was developed to make Bank Alfalah’s diverse range of quick and affordable financing solutions available to…
FSRU Höegh Giant to serve 10-year charter with H-Energy in India
HAMILTON: Höegh LNG Holdings Ltd. has completed and signed all documentation for its 10-year charter with H-Energy and selected the FSRU Höegh Giant to serve this agreement, a news release said. The binding commitment was announced in a stock exchange notice on 19 November 2020. The agreement is for a period of 10 years with…
Höegh LNG
Höegh LNG (OSE- HLNG ) operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG’s vision is to be the industry leader of floating LNG solutions. Its strategy is to…
Phytocannabinoid medicine company, MGC Pharmaceuticals to list on LSE
LONDON: MGC Pharmaceuticals, a European based and Australian listed bio-pharma company, is in the final stages of listing the Company’s shares on the Standard Segment of the Main Market of the London Stock Exchange. As part of the listing process, the Company intends to raise gross proceeds of approximately £5m via institutional and other sophisticated…
MGC Pharmaceuticals Ltd (ASX:MXC)
Click MGC Pharmaceuticals Ltd (ASX:MXC) share price MGC Pharmaceuticals Ltd (ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytocannabinoid derived medicines to patients globally. The Company’s founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived…
Waves Singer Pakistan to acquire 96.6% stake in Heavy Electrical Complex
KARACHI: The Board of Directors of Waves Singer Pakistan Limited (WSPL) have approved submission of an Expression of Interest (EOI) for the acquisition of 96.6 percent shares in Heavy Electrical Complex (Private) Limited (HEC) from the Government of Pakistan by way of privatization process. The EoI will be followed by a detailed due diligence process…
Pakistan CPI falls to 5.65% YoY during January
Headline inflation declined to 5.65% YoY (down 0.21% MoM) in January, compared to 7.97% YoY in December, beating market expectations of around 6.0% YoY. Most of the sequential decline in inflation was on the back of a 2.65% MoM drop in food inflation, which had until recently been in the spotlight given its impact on…
Albioma wins 4.8 MWp of solar projects in mainland France
PARIS: Albioma has announced today that it has won an aggregate capacity of 4.8 MWp in the government’s call for tenders (CRE4) for “solar power plants on buildings with a capacity between 100 kWp and 8 MWp” in September 2020. This capacity is spread over 20 projects, located in the Auvergne-Rhône-Alpes, Occitanie and Provence-Alpes-Côte-d’Azur regions,…