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January 13, 2007 Saturday Zilhaj 22, 1427 Govt seeks cut in ghee, edible oil prices ISLAMABAD, Jan 12: The government has asked the Pakistan Vanaspati Manufacturers Association (PVMA) to cut prices of ghee and edible oil by Rs5 per kg following a decrease in the prices of RBD palm olein in the international market.... CBR not to reduce duty KARACHI, Jan 12: Chairman Central Board of Revenue Abdullah Yousuf has ruled out the possibility of cutting import duty on edible oil import as the government thinks that it will affect the revenue collection.... Govt fails to check rising inflation KARACHI, Jan 12: Will the inflation reach double-digit by the end of the current fiscal year as the first half result has already pulled it close to nine per cent? The... Pakistan to move WTO in rice dispute with India ISLAMABAD, Jan 12: Pakistan is likely to move the World Trade Organisation (WTO) against India over its alleged fake registration of super basmati in the international market, which is traditionally produced in Pakistan’s Punjab province.... Expo 2007 to cost Rs150m KARACHI, Jan 12: The government will allocate Rs110 million, out of Export Marketing Development Fund (EMDF) for the mega event of Expo Pakistan 2007 being held from March 29 to April... Bulls stage comeback on two-year stamp duty waiver KARACHI, Jan 12: Stocks on Friday staged a broad recovery on active short-covering in the leading bank and some other shares followed by positive reports, notably withdrawal of stamp duty on the share business for the next two years.... No timeframe for signing of BIT with US yet ISLAMABAD, Jan 12: The visiting US Secretary of State for South Asia and Central Asian Affairs, Mr Richard Boucher, has said a lot of progress has been made to sign the Bilateral Investment Treaty (BIT) soon between the two countries.... Private sector’s help in mining sought ISLAMABAD, Jan 12: Prime Minister Shaukat Aziz has said that currently several mining projects are under way in Balochistan for exploring copper, lead and zinc, as well as oil and gas.... Commodity prices go up by 8pc ISLAMABAD, Jan 12: The wholesale prices of commodities increased by eight per cent in December 2006 from a year earlier. Official figures released by Federal Bureau of Statistics (FBS) here on Friday indicated that wholesale prices of commodities witnessed a 0.37... EU dumping duty on bedlinen to be challenged KARACHI, Jan 12: Minister for Commerce Humyaun Akhtar Khan has said that Pakistan is to take the issue of anti-dumping duty imposed by the European Union (EU) on imports of bedlinen... Oil prices rebound LONDON, Jan 12: World oil prices climbed back above $52 a barrel on Friday, having fallen by more than 7.0 per cent over the week owing to a drop in demand for heating fuel.... Audit of power sector LAHORE, Jan 12: The Central Board of Revenue has launched, what it called verification audit of the power sector in the country, sources in the CBR said here on Friday.... Dollar jumps LONDON, Jan 12: The dollar jumped to near seven-week highs against the euro on Friday on news that US retail sales in December were stronger than had been foreseen, suggesting a... Cotton market keeps up firm posture KARACHI, Jan 12: Cotton market on Friday showed firm trend as ginners held on to their previous positions and did not lower their asking prices amid reports of pressure on future supplies.... SSGC awaits ECC nod for LNG project KARACHI, Jan 12: Sui Southern Gas Company Ltd. (SSGC) said on Friday it was awaiting government approval to invite bids from international firms to build and supply the country’s first liquefied natural gas (LNG) plant.... Services export up by 4.3pc ISLAMABAD, Jan 12: The services sector exports recorded a growth of 4.35 per cent during the first five months (July-November) of the current fiscal year over the same period last year.... Karachi Port operations KARACHI, Jan 12: Seven ships carrying containers, coal and to load naphtha are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Jan 12: Four ships to load/offload containers, rice and chemicals were accommodated berths at QICT, MPT and EVT during the last 24 hours, said a PQA press release on Friday.... Ratings KARACHI, Jan 12: The Pakistan Credit Rating Agency (Pacra) has upgraded the asset manager rating of JS ABAMCO Limited to ‘AM2+’. The rating denotes the company’s strong capacity to manage the... Asian stocks sharply higher HONG KONG, Jan 12: Asian stocks closed sharply higher on Friday with bargain hunters re-emerging after recent falls and a record finish on Wall Street overnight amid falling oil prices.... European stocks fall LONDON, Jan 12: Leading European stock markets fell on Friday, with overall overnight support from Wall Street countering sharp falls for British music group EMI and French supermarket giant Carrefour.... Karachi market rates KARACHI, Jan 12: The following were Friday’s commodity market rates in rupees....

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