KE issues Pakistan’s largest sukuk of Rs22bn

KARACHI: K-Electric issued a sukuk of Rs22 billion on Friday, including a green shoe option of Rs2bn, a press release said on Friday.

“The sukuk has a tenor of seven years and a rating of AA+ by the JCR-VIS Credit Rating Agency Limited. It is the largest listed sukuk issue in Pakistan’s corporate history and will offer investors lucrative value for their investment. It will also be listed in the stock exchanges of Karachi in June 2015,” it added.

Vodafone investors open to Liberty deal

LONDON: Some of the biggest investors in Vodafone say they are open to a European tie-up with Liberty Global, as the British company is now in a stronger position to negotiate a deal.

The positive reaction stands in contrast to previous occasions when talk of a deal sent shares in Vodafone tumbling on fears that it, as the suitor, would overpay in order to snare Liberty.

Vodafone, which has 446m mobile customers in countries ranging from Albania to Ireland, India and New Zealand, has lost ground to some rivals in a trend to provide internet broadband, TV, home phone and mobile services in one bundled product, known as quad-play.—Reuters

Google unveils Android Pay

SAN FRANCISCO: Google on Thursday unveiled its pay-with-a-phone system for Android devices, ramping up its challenge to Apple in mobile payments.

Android Pay brings together mobile carriers, payment networks, banks and retailers to allow smartphone users to use their handsets instead of payment cards.

Google engineering vice president Dave Burke said Android Pay would work in more than 700,000 US retail outlets that accept contactless payments.

Published in Dawn, May 30th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play