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February 02, 2007 Friday Muharram 13, 1428 AHSL to merge with Rupali Bank KARACHI, Feb 1: Rupali Bank is expected to emerge as one of the strongest banks in Pakistan after the merger of Arif Habib Securities and injection of a huge equity into the bank.... Cement producers jack up prices by Rs8 a bag KARACHI, Feb 1: Cement manufacturers, mainly in the North, raised prices by Rs8 per bag — half of it on Wednesday and the remaining on Thursday, an industry source affirmed on Thursday.... Prices of poultry, pulses go up in January KARACHI, Feb 1: Prices of essential commodities moved both ways during the last one month as pulses and poultry products took lead in the price-escalation, while vegetables, like onion, tomato, potato, ginger, garlic etc.,... EU refuses talks on free trade pact KARACHI, Feb 1: The European Union (EU) has politely turned down Pakistan’s request for initiating talks for an early conclusion of a free trade agreement (FTA).... Bank takes three years to pay cash KARACHI, Feb 1: A local bank took almost three years to deliver cash against a cheque deposited in one of its domestic branch, but only after the intervention of the Banking Ombudsman.... Portfolio investment may touch $2bn this fiscal KARACHI, Feb 1: The rising foreign portfolio investment in the country is expected to break the earlier record of 1994 by a big margin, experts anticipate.... High bank spread dims hopes of fair return KARACHI, Feb 1: The banking spread for the year 2006 was much higher than the previous year reflecting no sign of hope for the depositors.... Stocks extend overnight gains KARACHI, Feb 1: Selective buying figured prominently on banking and oil shares on Wednesday as reports of higher dividend and bonus shares did not allow investors to keep to the sidelines and they rode the bandwagon.... Package for textile sector being prepared ISLAMABAD, Feb 1: Minister for Textile Industry Mushtaq Ali Cheema has said the government is taking measures to bridge the gap between existing productivity and emerging global trends and preparing an integrated package for the textile sector.... Industry beseeching for cut in gas tariff KARACHI, Feb 1: The government to mop up over Rs24 billion at the cost of industrial consumers towards Gas Development Surcharge (GDS) for non-implementation of Oil and Gas Regulatory Agency’s (Ogra)... Karachi Port operations KARACHI, Feb 1: Three ships carrying coal and containers are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Trading gets slow on cotton market KARACHI, Feb 1: Trading activity on the cotton market remained slow as spinners were not inclined to make fresh commitments apparently awaiting release of arrival figures of phutti for the fortnight ended Jan 31.... ST collection falls short of target ISLAMABAD, Feb 1: Sales tax collection remained short of target by 10 per cent during the first half of the fiscal year 2006-07 (July-December) as compared to the corresponding period last year due to narrow base of the levy.... India software, services exports to hit $75bn NEW DELHI, Feb 1: India’s software and services exports could climb to $75 billion by 2010 if they keep growing at over 30 per cent annually, the industry’s top body said on Thursday.... Port Qasim KARACHI, Feb 1: Modest shipping activity was witnessed at the port where three ships to load unload containers, edible oil and iron ore were allotted berths at QICT, MPT and IOCB... Rating KARACHI, Feb 1: JCR-VIS Credit Rating Company Ltd has assigned a preliminary fund stability rating of ‘AA-(f)’ (Double A minus (f) to Pak Oman Advantage Fund (POAF).... Asian stocks higher HONG KONG, Feb 1: Asian stocks closed higher on Thursday after the US Federal Reserve maintained interest rates at 5.25 per cent and seemed to confirm the world''s largest economy was on track.... European shares up LONDON, Feb 1: European stocks soared on Thursday as participants seized on positive earnings news, unchanged US interest rates and encouraging signs that the US economy was on track, analysts said.... Palm oil prices JAKARTA, Feb 1: Indonesian palm oil prices rose slightly in thin trade on Thursday while the overall market remained weak due to a lack of fresh news.... Karachi market rates KARACHI, Feb 1: The following were Thursday’s commodity market rates in rupees....

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