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Articles for tag: 2024 season, begins, Future, Golf, Golf LIV, John Rahm, LIV, merger, merger talks, season, Sport, stake, talks

February 1, 2024

News Desk

LIV Golf begins 2024 season with future at stake in merger talks

WASHINGTON: Reigning Masters champion Jon Rahm will be LIV Golf’s newest star when the new Saudi-backed series kicks off a third season on Friday as questions abound over its future. LIV’s 2024 campaign has been in doubt since a merger framework agreement between the PGA Tour, DP World Tour and Saudi Arabia’s Public Investment Fund (PIF) — LIV Golf’s financial backers — was revealed last June amid controversy . Talks have been extended past a Dec. 31 deadline to reach an agreement that brings all sides closer to a partnership, so in the meantime, both LIV and the PGA Tour

January 17, 2024

News Desk

Hubco is in talks to buy a stake in the Thar coal mine

KARACHI: Hub Power Company (Hubco) has begun talks to acquire a stake in the country’s top coal-rich mine, which supplies black gold to power power plants, believing the acquisition will prove financially beneficial. Besides, Kot Addu Power Company (Kapco) is attempting to acquire a 49.5 megawatt wind power project located in Sindh, diversifying its operations by embracing clean energy. Hubco said in a filing to the Pakistan Stock Exchange (PSX) on Tuesday that “the board of directors of Hub Power has authorized the company to enter into negotiations and execute definitive agreements for the proposed acquisition of shares of Sindh

January 10, 2024

News Desk

PC is OK PIA 51% stake sale.

Islamabad: The board of the Privatization Commission (PC) on Tuesday approved the transaction structure for the sale of at least 51% stake in Pakistan International Airlines (PIA) after cleaning up its balance sheet by transferring nearly three-quarters of the Rs825 billion to a new company . Meeting again on Tuesday, the board broadly approved the “legal separation” of PIA into good and bad PIA and approved the deal structure, according to privatization ministry officials. The financial advisers’ report remained incomplete and was submitted without the valuation of the assets. In a departure from past practices of transparency, the PC did

December 14, 2023

News Desk

PTCL acquires 100% stake in Telenor for Rs 108 billion

Completion of the acquisition is subject to regulatory approvals and customary closing conditions PTCL & PTML Group Chairman & CEOHatem Bamatraf (left) exchanges files with Telenor Asia Chief Petter. – Press release PTCL signs Share Purchase Agreement with Telenor. PTCL, Telenor has strong teams: chairman PTCL. Completion of the acquisition is subject to regulatory approvals. KARACHI: Pakistan Telecommunication Company Limited (PTCL) on Thursday announced that it has acquired Telenor Pakistan at an enterprise value of Rs 108 billion on a debt-free, cash-free basis. The telco said they have signed a Share Purchase Agreement to acquire 100% of Telenor’s shares. A

December 12, 2023

News Desk

Saudi oil giant Aramco to acquire 40% stake in Pakistani company

The planned acquisition is Aramco’s first entry into the Pakistani fuel retail business Aramco Executive Vice President of Products and Customers Yasser Mufti (right) signs the agreement with GO Founder and CEO Khalid Riaz on December 12, 2023. — Aramco.com This will be Aramco’s first entry into the Pakistani fuel retail business. Aramco plans to acquire equity stake in Gas & Oil Pakistan Ltd. It will allow Aramco to secure additional outlets for refined products. ISLAMABAD: Aramco – one of the world’s leading energy and chemical companies – on Tuesday signed definitive agreements to acquire a 40% stake in Gas

November 14, 2023

News Desk

Impending US Government Shutdown Threatens Federal Business — What’s at Stake?

The U.S. Capitol dome is seen beyond a chain-link fence during the partial government shutdown in Washington, U.S., January 8, 2019. —Reuters As the United States nears a possible government shutdown, House Speaker Mike Johnson is proposing a distinct approach to averting a crisis and ensuring federal workers don’t go without pay just before Thanksgiving. With the deadline looming on Saturday, November 18 at 12:01 a.m., the nation is on the brink of a shutdown if Congress does not pass legislation to extend federal funding. Here’s a comprehensive overview of the situation and critical elements surrounding the impending government shutdown:

November 2, 2023

News Desk

Saudi firm acquires majority stake in Shell Pakistan

Islamabad: In a major move, Royal Dutch oil company Shell has reached an agreement to sell a 77.42% majority stake in Shell Pakistan Limited (SPL) to Saudi Arabian company Wafi Energy LLC. This decision comes as Shell reorganizes its global operations and the sale is in line with its strategy to strengthen its mobility network. The transaction is expected to close in the fourth quarter of 2024, pending regulatory approvals. Oil industry experts note that Shell Pakistan had faced challenges in Pakistan’s regulated oil market. Exchange losses resulting from the depreciation of the rupee against the dollar and a fatal

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