News

  New Delhi / Tribune News Service Dr. Reddy’s Laboratories Ltd, India’s second-largest drug maker, on Saturday said that it will acquire a portfolio of eight abbreviated new drug applications (ANDA) in the US from Teva Pharmaceutical Industries Ltd and an affiliate of Allergan plc for $350 million. The company said it will buy this portfolio on a cash free, ...

  Karachi / AFP Pakistan awarded a $395 million 4G licence to Norwegian telecom giant Telenor, as it seeks to capitalise on a booming domestic mobile market some two years since broadband Internet arrived in the country. In 2014, Pakistan auctioned its first 4G broadband licence to China’s Zong for $210 million, along with 3G licenses to Zong, the UAE’s ...

  Tokyo / Bloomberg Line Corp. is aiming to raise as much as Â¥113 billion ($1 billion) in an initial public offering (IPO) in July, putting it on track to deliver the biggest market debut for a technology company this year. The sale of new and existing shares, in the US and Japan, values Japan’s most popular mobile-messaging service at ...

Bloomberg Treasuries logged their biggest two-week gain since February as traders wagered that the Federal Reserve will forgo raising interest rates for months to come. Benchmark yields sank to the lowest since 2013, driven by investors seeking shelter in government debt amid global growth concerns and the threat of instability when the U.K. votes June 23 on membership in the ...

  Mexico / AFP In a historic first, Mexico’s struggling state-run Pemex energy company will team up with private firms for a deep-water oil project, officials said. Pemex will “farm out” the $11 billion Trion field in the Gulf of Mexico, which has potentially 480 million barrels of light crude, said company director general Jose Antonio Gonzalez Anaya. President Enrique ...

  Canada / AFP General Motors announced plans to hire 1,000 engineers and software developers at its Canadian research facilities near Toronto over the coming years to design new self-driving cars. “With this expansion, GM Canada will play an important role in our evolution toward vehicles that are connected, autonomous, shared and electric,” Mark Reuss, GM executive vice president of ...

  Bloomberg Puerto Rico lawmakers may vote as soon as Monday on a bill intended to help the island’s main water utility avoid a July 1 bond default by selling new debt with stronger repayment pledges. A conference committee approved the measure, said Rep. Rafael ‘Tatito’ Hernandez, sponsor of the legislation and chair of the House Treasury Committee. It would ...

  Agua Clara / AFP Panama has sent a giant, Neopanamax-class cargo ship through its canal to test expansion work costing billions of dollars and whose official opening is to be marked with a ceremony late this month. “The tests are going very, very well. We’re pleased,” Giuseppe Quarta, head of the Grupos Unidos por el Canal (GUPC) consortium behind ...

  Bloomberg Investors are showing little appetite for repeating the rebellion against record-low government bond yields in Europe that peaked this time last year. As faith in central bankers’ ability to boost economic growth and revive inflation diminished, German 10-year bund yields slid to a record this week. The previous low set in April 2015 was followed by a spike ...

  Washington / AFP Credit agency Fitch left Britain’s rating unchanged at “AA+” but warned that if the country votes in favor of exiting the European Union, the rating could be lowered. Fitch said the country merits its second-highest credit grade due to its wealthy, diversified and flexible economy, its solid policy management and the global strength of the British ...