March, 11 2005	Friday	29 Muhharram 1426

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Banks form cartel to give loans at 6pc: Wheat procurement KARACHI, March 10: All the five big commercial banks including the government owned National Bank of Pakistan have formed a cartel to demand a 6 per cent rate of interest on...		NYSE terms $40bn KSE capitalization significant KARACHI, March 10: The chairman and chief executive of New York Stock Exchange, Hon Thain was reported to have remarked that achievement of $40 billion market capitalization by Karachi Stock Exchange...
Stability pact may top agenda of EU moot BRUSSELS, March 10: Endless acrimonious debates about money are back at the top of the European Union’s agenda as finance ministers battle over plans to revamp the eurozone stability pact and...		Govt gets Rs13 on each litre of petrol KARACHI, March 10: The government’s kitty eats up Rs13 per litre on petrol in the shape of customs/excise duty and petroleum development levy (PDL) and 15 per cent general sales tax,...
‘Pakistan’s image has improved’ KARACHI, March 10: The Consul General of Federal Republic of Germany Verena Grafin von Roedern said on Thursday that Pakistan’s image had improved, which could be gauged from the fact that...		Oil prices ease from record highs LONDON, March 10: World oil prices fell on profit taking Thursday, a day after reaching a new high point in London and nearing record levels in New York on fears that...
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Quality of cotton reviewed ISLAMABAD, March 10: In the global perspective, Pakistan was very important country for cotton and textile production and had the potential of becoming a key-force in the worldwide cotton and textile...		Importers book 0.5m tons of sugar KARACHI, March 10: Pakistani importers have booked orders for the import of almost 500,000 tons of sugar since January, when the government allowed duty-free imports to cover supply shortages, an official...
No mechanism yet to check fake invoicing ISLAMABAD, March 10: Pakistan’s customs has yet to develop an effective deterrence for checking the rampant fake invoicing and tax frauds causing harm to local industries following the implementation of the...		Islamic financing KARACHI, March 10: Habib Bank AG Zurich and N J Auto Industries on Thursday entered into an agreement for providing Islamic financing under the scheme of “Ijarah” for the purchase of...
Palm oil prices lower KUALA LUMPUR, March 10: Malaysian crude palm oil futures ended lower on Thursday, dragged down by news of a build-up in domestic stocks and concerns of slower exports....		BoE leaves interest rate steady LONDON, March 10: The Bank of England (BoE) left its key interest rate unchanged at 4.75 per cent for the seventh month in a row on Thursday, amid mixed signals about...
Late-selling pushes index down by 16.55 points KARACHI, March 10: After a bullish start on Thursday, stocks ran into snap selling at the fag-end of the session as a section of leading investors took profits at higher levels...		Prises ease further on cotton market KARACHI, March 10: Cotton prices on Thursday eased further as spinners and mills made selective covering purchases mostly of fine lots from upper Sindh and southern Punjab ginners....