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January 28, 2007 Sunday Muharram 08, 1428 27 projects costing Rs31.3bn approved ISLAMABAD, Jan 27: The Central Development Working Party (CDWP) on Saturday approved 27 projects costing Rs31.3 billion including a foreign aid component of Rs3 billion.... New tax refund system to help five sectors KARACHI, Jan 27: The Central Board of Revenue (CBR) has rolled out a simplified automated refund procedure for processing refunds of sales tax in five zero-rated sectors, including textiles, sports and surgical goods, carpets and leather goods.... Poor people suffer despite high growth rate KARACHI, Jan 27: The high economic growth rate will not alone solve the problems of poor masses that need jobs and access to basic needs for getting better living conditions.... EU team to submit report in a month: Fish Harbour inspection KARACHI, Jan 27: The four-member European Union (EU) inspection team flew back on Saturday after completing inspection of the Fish Harbour and its export-related areas. The team will submit a comprehensive... Ministers willing to resume WTO talks DAVOS, Jan 27: Leading trade ministers meeting in Davos on Saturday gave stalled global trade talks a lift when they backed the quick resumption of negotiations.... Prices of 13 essential items go up ISLAMABAD, Jan 27: Prices of 13 kitchen items registered an upward trend during the week ended Jan 26, 2006, statistics division said on Saturday. Most of the products, which recorded upward trend in prices included ghee/oil, chicken farm and pulses.... Initiatives for trade development discussed KARACHI, Jan 27: State Minister and Chief Executive of the Trade Development Authority of Pakistan (TDAP) Tariq Ikram has said that introduction of customised financial instruments along with better risk management should be encouraged to promote the exports of the country.... Accord with Nepal on agriculture development ISLAMABAD, Jan 27: A bilateral agreement on cooperation in agriculture sector was signed between the governments of Pakistan and Nepal in Kathmandu. Secretary, Ministry of Food Agriculture and Livestock, Pakistan, Mohammad... Taxpayers data entry at regional level planned ISLAMABAD, Jan 27: The Central Board of Revenue (CBR) has decided to reconcile and capture taxpayers’ data at the regional level. Member, Income Tax, Salman, Nabi told Dawn that the decision... Amendments in PCT effective from July ISLAMABAD, Jan 27: The Central Board of Revenue (CBR) has announced that the proposed changes in the Pakistan Customs Tariff (PCT) will come into effect from July 1, 2007.... ‘World must remain alert on inflation’ DAVOS, Jan 27: The world must remain on high alert over inflation risks and take advantage of today’s robust growth to fix underlying global problems, top financial officials said on Saturday.... Bullish outlook seen for ad market DAVOS, Jan 27: Advertising’s most influential players predicted a strong market in 2007 at the World Economic Forum on Saturday, adding weight to already high levels of confidence at the meeting of business leaders.... China mulls property tax BEIJING, Jan 27: China is considering a new property tax to cool over-investment in real estate and a fuel levy to reduce oil consumption, the government said.... Russian output up DAVOS, Jan 27: Russia''s output will this year surpass for the first time the maximum level achieved in the Soviet Union, 15 years after the collapse of the Communist bloc, Deputy Prime Minister Dmitry Medvedev said on Saturday.... Chip market may shrink TOKYO, Jan 27: The semiconductor market could shrink in 2007 due to tumbling prices of memory chips, bucking the industry''s expectations of solid growth, the head of Elpida Memory Inc.... Thailand plans capital control adjustments BANGKOK, Jan 27: Thailand will announce on Monday that foreign loans brought in by private businesses will be exempt from capital controls and it will consider treating inflows to be invested... Bush defends new US energy plan WASHINGTON, Jan 27: US President George W. Bush on Saturday defended his newly announced plan to increase US energy security and independence, saying the plan would protect the country from enemy governments and terrorists.... Asian clothes import to Europe up LILLE, Jan 27: European clothing firms are ditching their local suppliers and are opting more and more for cheaper imports from Asia, especially China, according to a French study released here.... India opens telecom door to Vodafone DAVOS, Jan 27: India hopes Vodafone will be able to establish itself there quickly, giving the global telecoms group’s plan to take over local player Hutchison Essar a welcome boost.... London stocks LONDON, Jan 27: The British stock market will zero in next week on a barrage of earnings from major blue-chips including energy giant Royal Dutch Shell and telecoms behemoth Vodafone.... Paris creates record number of businesses PARIS, Jan 27: A record number of businesses were created in France in 2006 as entrepreneurs took growing advantage of legal changes in recent years that have made it easier to start up firms, data showed on Friday.... Wal-Mart to acquire Japanese firms TOKYO, Jan 27: US retailing giant Wal-Mart Stores Inc. will explore more opportunities for corporate acquisitions in Japan, Vice Chairman Michael Duke said in an interview published on Saturday.... Airlines expecting robust growth BANGKOK, Jan 27: Senior aviation industry executives say airlines in Asia Pacific region are headed to robust growth in 2007.Lower fuel prices and growing China market are boons for the industry.... Tata Steel, CSN to vie for Corus LONDON, Jan 27: Britain’s Takeover Panel said on Friday that India’s Tata Steel and Brazilian rival CSN must take part in an auction next week to decide the fate of the Anglo-Dutch steelmaker Corus.... Stores chain eyeing banking business MONTERREY, Mexico, Jan 27: Mexican retailer Soriana said on Friday it plans to enter the banking business, an increasingly competitive battleground for store operators fighting for millions of low-income customers.... Emerging nations make their presence felt at WEF DAVOS, Jan 27: Fast-growing India and China were once again being courted by the global elite in Davos this week, while Russia was snapping on their heels by offering up heavyweights from its coveted oil and gas industry.... Jittery Wall Street awaits Fed meeting NEW YORK, Jan 27: Wall Street''s mood has shifted from confident to cautious as the market digests the latest round of corporate earnings and awaits another day of judgment from the Federal Reserve.... Tin and nickel prices at new peaks LONDON, Jan 27: Global crude oil futures rallied above $55 per barrel this week, while metals shone, with tin and nickel prices hammering new historic peaks.... Dollar boosted by durable goods orders NEW YORK, Jan 27: The dollar gained ground on Friday in the wake of robust US economic news as durable goods orders remained robust and as new home sales rose by more-than-expected last month.... Oil prices breach $55 on weather concerns NEW YORK, Jan 27: World oil prices rose strongly on Friday, as traders predicted an expected rise in demand for heating fuels in the United States amid a recent cold snap....

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