LABARD, Faysal Bank join hands

LAHORE: Faysal Bank joined hands with the Lahore Businessmen Association for the Rehabilitation of Disabled (LABARD) on Tuesday to serve special children getting education and training under the umbrella of LABARD.

The bank donated a modern vehicle to the association to ease mobility, said a press release.

EU probes Bayer’s planned buyout of Monsanto

BRUSSELS: The European Union’s anti-trust watchdog said on Tuesday that it has launched a probe into German chemical maker Bayer’s planned acquisition of US seed and weed-killer company Monsanto.

The European Commission, which polices competition in Europe, said it has concerns that the merger may reduce competition in areas like pesticides and seeds.

Monsanto in September last year accepted an offer from Bayer to pay $57 billion to its shareholders and assume $9bn in debt. Were it to go ahead, the buyout would create the world’s largest integrated pesticides and seeds company.—AP

McDonald’s to close 169 outlets in India

NEW YORK: McDonald’s India has announced it will close nearly 170 McDonald’s outlets in northern and eastern India after the American fast food giant decided to terminate a franchise agreement with its Indian partner.

McDonald’s said its partner Connaught Plaza Restaurants violated the terms of the franchise agreement, including reneging on payment of royalties.

Connaught Plaza Restaurants, which runs 169 McDonald’s outlets in northern and eastern India, said on Tuesday it is considering legal action in the long-drawn legal battle. In June, it shut 43 McDonald’s outlets in the capital, New Delhi.—AP

Georgia Tech signs up with Adidas

ATLANTA: Looking to boost recruiting and align with a hipper brand, Georgia Tech has teamed up with Adidas, which will serve as the exclusive apparel provider for its athletic programs.

The agreement announced on Tuesday comes after Georgia Tech decided to end to its partnership with Russell Athletic when their contract expires in June.

The six-year arrangement with Adidas runs through 2024. Financial terms were not disclosed.

Georgia Tech is now in line with other major universities in a market dominated by Nike, Under Armour and Adidas.

Published in Dawn, August 23rd, 2017