NEW YORK: Responding to extraordinary demand, Facebook said Wednesday that it would sell more stock in the company’s initial public offering. But ahead of the IPO, a debate emerged between two of the nation’s largest automakers: Does it pay to advertise on the social network? General Motors, the nation’s largest automaker, said it would abandon [...]
NEW YORK: Yahoo Inc. Chief Executive Scott Thompson is stepping down after a controversy over a fake computer science college degree on his biography, the third CEO to leave the company in three years, according to a source familiar with the situation. The move is a victory for hedge fund manager Daniel Loeb of Third [...]
Facebook has set the share price for its upcoming initial public offering (IPO) at between $28 and $35 per share, valuing the company at between $85bn-$95bn (£52bn-£59bn). The IPO is set to be the largest ever for an internet firm, bigger than Google’s valuation of $23bn in 2004.IPOs are when companies list shares on the [...]
ISLAMABAD: The federal cabinet, has, reportedly, left the implementation of the much delayed business plan of Pakistan Steel Mill (PSM) to mercy of the Finance Ministry, which, in the recent past, failed to release funds as contained in the ‘business plan’ to the national entity, well informed sources told Business Recorder. The cabinet, in its [...]
SYDNEY: Airbus will pay to repair wing cracks in A380 superjumbos, but compensation is unlikely to extend to other costs such as the time the aircraft were out of service, reports said Friday. Qantas and other airlines found tiny cracks, which the carriers say pose no risk to safety, on the wings of several A380s [...]
It is definitely celebration time for the largest OMC in the country.Pakistan State Oils financials for 9MFY12 reveal a surprising yet pleasing performance by the OMC amid choppy times. The company was able to bag sales worth Rs737 billion for 9MFY12, inclining due to a strong growth in oil prices and petroleum products.The 32 percent [...]
Unilever Pakistan has lately been delighting consumers with the launch of several new products in various categories. Last year, the Company had launched prominent brands such as Dove, Sunlight washing powder and various ice cream variants.So far, this year has already seen some interesting products dot streets and superstore aisles in the country, such as [...]
KARACHI: Engro Corporation President and Chief Executive Officer Asad Umar has decided to take early retirement from his job after serving for more than 27 years, it was announced officially on Monday. He is leaving Engro for pursuance of his own personal projects. His successor will be announced by the end of April and will [...]
LAHORE: Honda Atlas Cars (Pakistan) Limited recently inaugurated its new state-of-the-art 3S authorized Dealership, Honda Gateway, on Multan Road near Thokar Niaz Beg, Lahore. The objective of this new facility is to ensure the provision of the best services to Honda customers. Honda Atlas Cars (Pakistan) Limited has always tried its best to provide the [...]
KARACHI: Local automobile sales [including light commercial vehicles, (LCVs), vans and jeeps] witnessed a growth of 15 percent on yearly basis with 128,576 units of different models sold out in nine months of the current financial year (9MFY12) as compared to 111,852 units in the same period of last fiscal. According to analysts, the automobiles [...]
