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September 24, 2006 Sunday Sha'aban 30, 1427 Heavy withdrawal to avoid Zakat cut KARACHI, Sept 23: Heavy withdrawal from banks to avoid deduction of Zakat compelled banks to borrow cash from the SBP discount window, while the money rates remained tight throughout the week, bankers said.... Pakistan lags behind India in reforms ISLAMABAD, Sept 23: Pakistan lagged behind India in South Asia in carrying out of reforms to simplify business registration, cross-border trade, easing of access to credit, payment of taxes and strengthening of investor protection during the fiscal year 2005-06.... KSE board for dialogue with SECP on issues KARACHI, Sept 23: A meeting of the Board of Directors of the Karachi Stock Exchange (KSE) held on Saturday asked the management to begin dialogue with the Securities and Exchange Commission of Pakistan (SECP) on outstanding issues.... Pakistan, Thailand to begin FTA talks ISLAMABAD, Sept 23: The Pakistan-Thailand Joint Study Group (JSG) has agreed to start formal negotiations on free trade agreement (FTA) between the two countries.... Tax clerical staff observe strike for pay hike KARACHI, Sept 23: The clerical staff of income tax departments of Southern Region and Corporate region, Karachi went on strike on Saturday to press their demand for raising wages.... SSGCL hints at cut in tariff on falling oil prices KARACHI, Sept 23: Sui Southern Gas Company Limited (SSGCL) will apply for downward revision of its tariff in the Oil and Gas Regulatory Authority (OGRA) as and when oil prices will go down.... ATMs not providing cash KARACHI, Sept 23: The ATMs were installed by banks to facilitate their clients, make cash availability 24 hours and save time of both the banks and customers, but the technology used to give shock and pain to its users.... Development strategy for wire rod industry ISLAMABAD, Sept 23: The Engineering Development Board (EDB) is making development strategy for the wire rod, wire manufacturers and down stream industry for improving its competitiveness in the international market.... Crude palm oil imports may double MUMBAI, Sept 23: Pakistan''s imports of crude palm oil are expected nearly to double to 750,000 tons in calendar 2007 from about 400,000 tons in 2006 due to higher refining capacity, an industry official said on Saturday.... Biggest IPO HONG KONG, Sept 23: The key investors in the Industrial & Commercial Bank of China’s initial public offering -- expected to be the world’s biggest IPO -- include the Kuwait Investment... Saudi Arabia has enough oil for over 140 years RIYADH, Sept 23: As the Opec oil ministers opted in the historic and picturesque Hofburg Palace in Vienna to rollover their current output quota -- rather nervously -– for another term,... Malaysian team to hold FTA talks ISLAMABAD, Sept 23: A high-level 22-member Malaysian trade delegation arrived here on Saturday to start the 7th round of negotiations on free trade agreement (FTA) with Pakistan.... Prices remain depressed on cotton market KARACHI, Sept 23: The cotton prices remained under pressure for second consecutive day on Saturday amid heavy arrivals of phutti into Sindh and Punjab ginneries.... Nissan, GM capital alliance unlikely TOKYO, Sept 23: Auto giants Nissan Motor Co. and General Motors Corp. are unlikely to form a capital alliance, a newspaper said on Saturday. Nissan will also develop its own fuel-efficient hybrid cars for introduction in 2010, it said.... Money laundering TOKYO, Sept 23: US financial authorities may punish the US units of the Bank of Tokyo-Mitsubishi UFJ for allegedly failing to properly monitor against money laundering, a news report said on Saturday.... Suez-GDF merger may cost 20,000 jobs BRUSSELS, Sept 23: The merger between French utility giants Suez and Gaz de France could lead to 20,000 job cuts over three years, according to a report by three banks prepared... Olive project to yield 32,000 tons annually PESHAWAR, Sept 23: The country is expected to produce 32,000 tons of olive oil annually after the completion of its olive grafting project. This was stated by the provincial director of... Buying a European bank not priority FRANKFURT, Sept 23: Bank of America is open to buying a European bank if the price is right but such a move is not among its strategic priorities, its Chief Executive Kenneth Lewis was quoted on Saturday as saying.... World oil prices slide, metals climb LONDON, Sept 23: World oil prices registered fresh falls this week on fading global supply concerns and rising US heating fuel stocks, while metal prices were buoyed by a weak US dollar.... India says farm sector a concern, urges reform NAINITAL, India, Sept 23: Indian Prime Minister Manmohan Singh said on Saturday the country''s sluggish farm sector growth is a cause for concern and urged reforms to boost productivity of foodgrains, pulses, edible oils and vegetables.... Dollar steady NEW YORK, Sept 23:.The dollar steadied on Friday a day after a big selloff as investors looked past a weak report on manufacturing that some analysts said could signal bigger problems for the world''s biggest economy.... Karachi market rates KARACHI, Sept 23: The following were Saturday’s commodity market rates in rupees. Oilseeds...

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