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Verizon to announce $5 billion buy-out of Yahoo today

Hamza Rao 06:13 PM | 25 Jul, 2016
Verizon to announce $5 billion buy-out of Yahoo today
Verizon Communications Inc said on Monday that it would buy Yahoo Inc's core internet properties for $4.83 billion to expand its digital advertising and media business, virtually ending a lengthy sale process for the fading Web pioneer.

The purchase of Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, and give it access to Yahoo's ad technology tools, BrightRoll and Flurry, and assets such as search, mail and messenger.

The deal, expected to close in early 2017, marks the end of Yahoo as an operating company, leaving it with a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd (BABA.N) and a 35.5 percent interest in Yahoo Japan Corp (4689.T).

"The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo," Yahoo Chief Executive Marissa Mayer said in a statement on Monday.

Started in 1994 by Stanford graduate students Jerry Yang and David Filo, Yahoo in its early years was the destination of choice for many making their first forays onto the World Wide Web.

By 2008, Yahoo was fending off a contentious takeover bid from Microsoft Corp (MSFT.O) and struggling to define its mission.

It has since fallen behind the curve to ever-growing search engine giant Google and its suite of web-based services.

Hamza Rao
Hamza Rao

Hamza Rao is a member of the staff at Daily Pakistan. He can be reached at raohamzafree@gmail.com. He tweets at @HamzaRaoxxx

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on January 26, 2023 (Thursday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 237.55 240.15
Euro EUR 272.5 275
UK Pound Sterling GBP 308.5 311.5
U.A.E Dirham AED 68 68.6
Saudi Riyal SAR 66.4 67
Australian Dollar AUD 176 178
Bahrain Dinar BHD 615.68 620.18
Canadian Dollar CAD 186 188
China Yuan CNY 34.12 34.37
Danish Krone DKK 33.83 34.18
Hong Kong Dollar HKD 29.52 29.87
Indian Rupee INR 2.81 2.89
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 756.69 761.69
Malaysian Ringgit MYR 52.59 53.04
New Zealand Dollar NZD 148.33 149.53
Norwegians Krone NOK 22.43 22.73
Omani Riyal OMR 600.37 604.87
Qatari Riyal ‎QAR 63.5 64
Singapore Dollar SGD 178 179.3
Swedish Korona SEK 21.78 22.08
Swiss Franc CHF 250.23 251.98
Thai Bhat THB 6.98 7.08

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs190,900 on Thursday. The price of 10 grams of 24k gold was recorded at Rs163,670.

Likewise, 10 grams of 22k gold were being traded for Rs150,300 while a single tola of 22-karat gold was being sold at Rs 173,200.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 190,900 PKR 2,100
Karachi PKR 190,900 PKR 2,100
Islamabad PKR 190,900 PKR 2,100
Peshawar PKR 190,900 PKR 2,100
Quetta PKR 190,900 PKR 2,100
Sialkot PKR 190,900 PKR 2,100
Attock PKR 190,900 PKR 2,100
Gujranwala PKR 190,900 PKR 2,100
Jehlum PKR 190,900 PKR 2,100
Multan PKR 190,900 PKR 2,100
Bahawalpur PKR 190,900 PKR 2,100
Gujrat PKR 190,900 PKR 2,100
Nawabshah PKR 190,900 PKR 2,100
Chakwal PKR 190,900 PKR 2,100
Hyderabad PKR 190,900 PKR 2,100
Nowshehra PKR 190,900 PKR 2,100
Sargodha PKR 190,900 PKR 2,100
Faisalabad PKR 190,900 PKR 2,100
Mirpur PKR 190,900 PKR 2,100

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