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| July 27, 2006 | Thursday | Jumadi-ul-Sani 30, 1427 |
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Shareholders question wisdom of SBP decision: Banks’ BoD meetings abroad
KARACHI, July 26: Shareholders in listed scheduled banks viewed with skepticism, the State Bank’s decision to let banks with as little as 31 per cent foreign shareholding to hold the meetings of their board of directors outside Pakistan.... 
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FDI touches $3.5bn in 2005-06
KARACHI, July 26: The foreign direct investment (FDI) including privatisation proceeds finally touched $3.531 billion in 2005-06, the State Bank reported on Wednesday....
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US experts to assist SECP: Amendments to NBFC rules
ISLAMABAD, July 26: A team of Washington-based experts is arriving here next week to provide technical assistance to the Securities and Exchange Commission of Pakistan (SECP) in amending the non-banking finance companies (establishment and regulation) rules (NBFC), 2003....
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DTO grants licence to new CNG body: Real stakeholders ignored
KARACHI, July 26: Amidst the presence of two long established associations representing the CNG sector, the Director Trade Organisation (DTO), ministry of commerce, has granted a license to a third newly...
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KSE index suffers 57.46 points decline
KARACHI, July 26: The stock market on Wednesday turned easy as leading shares came in for stray profit-selling at the higher levels under the lead of leading oil and bank shares...
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New crop prices surge by Rs25
KARACHI, July 26: The cotton market on Wednesday showed steady trend, as prices of new crop lint were quoted higher by Rs25 per maund followed by reports of slow arrivals of phutti into ginneries because of fresh rain....
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78,000 tax cases settled in two years
ISLAMABAD, July 26: The Central Board of Revenue (CBR) has disposed of 78,000 pending tax cases out of a total of 80,000 cases during the last two years....
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World business groups bemoan WTO collapse
WASHINGTON, July 26: The world’s most powerful business lobby groups joined forces on Wednesday to appeal for a swift resumption of collapsed talks on freeing up global trade....
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World Bank briefed on economic progress
WASHINGTON, July 26: Adviser to the Prime Minister on Finance Dr Salman Shah briefed the World Bank on Wednesday on the economic performance of Pakistan. Macro indicators of the country’s economy,...
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Rupee hits 21-month low on high $ demand
KARACHI, July 26: The rupee hit a near 21-month low on Thursday amid higher dollar demand from importers, but dealers said the rupee was likely to remain range-bound in the days ahead....
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Oil prices surge as US gasoline stocks fall
LONDON, July 26: World oil prices surged on Wednesday as traders reacted to a surprise retreat in US gasoline or petrol reserves, and tracked raging violence in the Middle East....
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Duty-free sugar import
KARACHI, July 26: Pakistan planned to keep sugar imports duty free for another year to avoid any price spiral as the current sugarcane crop won''t meet domestic demand, officials said on Wednesday....
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Engro declares 30pc dividend
KARACHI, July 26: Engro Chemical Pakistan Limited declared interim cash dividend at Rs3 (30 per cent) along with accounts for the half year ended June 30, 2006.The...
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Euro gains against dollar
LONDON, July 26: The euro rose against the dollar on Wednesday as expectations of a ECB interest rate hike on August 3 outweighed a dip in a closely-watched survey of German business confidence....
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IPO ruling
LONDON, July 26: Russian oil group Rosneft, which listed shares in London a week ago, said on Wednesday that embattled rival Yukos had appealed a court ruling that allowed the Rosneft IPO to take place....
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SLIC director
KARACHI, July 26: Zafar Mahmood, an officer of District Management Group BS-21, has taken over as Executive Director State Life Insurance Corporation of Pakistan. Prior to joining State Life he has served as vice-chairman Export Promotion Bureau....
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European stock higher
LONDON, July 26: European stock markets higher on Wednesday after Wall Street extended its rally overnight, but gains were limited in Paris after the share price of carmaker Peugeot plummeted....
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Palm oil lower
KUALA LUMPUR, July 26: Malaysian crude palm oil futures closed lower on Wednesday because of profit-taking and sluggish demand for palm products....
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Ratings
KARACHI, July 26: JCR-VIS Credit Rating Company Limited has reaffirmed Security Investment Bank Limited (SIBL) medium to long -term entity rating at ‘A’ (Single A) with ‘Stable’ outlook and short-term rating at ‘A-1’ (A One), says a press release....
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Karachi Port operations
KARACHI, July 26: Seven ships carrying palm oil, containers and to load ethanol are expected to arrive at the outer anchorage on Thursday, according to KPT sources....
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