PTCL announces final cash dividend of 10pc

ISLAMABAD: Pakistan Telecommunication Company Limited’s (PTCL) board of directors, during the company’s 21st annual general meeting (AGM) held on Thursday, announced a final cash dividend of 10 per cent amounting to Re1 per share for 2015.

“The dividend is in addition to the interim cash dividend of 10pc amounting to Re1 per ordinary share. The total dividend for the year thus stood at 20pc (Rs2 per share),” said a press release.

ExxonMobil earnings plummet 63pc

NEW YORK: US energy giant ExxonMobil reported Friday that first-quarter earnings dived 63 per cent to $1.8 billion due to plunging oil prices.

Its upstream division suffered a $76m loss. That was partially offset by higher earnings in the oil giant’s chemical division. Revenues fell 28pc to $48.7bn.—AFP

Sanofi vows hostile bid for US prey

PARIS: French pharmaceutical giant Sanofi vowed to open a hostile takeover battle Friday after its $9.3 billion offer for US cancer drug maker Medivation was dismissed for being too cheap.

Sanofi, warning that has a strong record in takeovers, said it will not give up its pursuit of the reluctant American prey, manufacturer of the high-priced, blockbuster prostate cancer medication Xtandi.

Published in Dawn, April 30th, 2016