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March 03, 2007 Saturday Safar 13, 1428 Insurance cover for foreigners under study KARACHI, March 2: A top Pakistani insurance company is exploring possibilities of offering insurance coverage to the foreigners visiting the country as tourists, members of business delegations and consultants of the... Cement sector profit down by 62 per cent KARACHI, March 2: Cement sector profits declined 62 per cent in the first half of fiscal year 2007 (July-Dec) compared to the same time last year.... Basmati crop damage causes $260m loss KARACHI, March 2: The country has suffered a huge loss of around $260 million (Rs15.782 billion) owing to severe damage caused by strong winds coupled with rains and fog to the standing paddy of Basmati in the Punjab this season (2006-07).... SBP devises plan to finance fisheries sector KARACHI, March 2: The State Bank of Pakistan has devised a detailed plan to finance the fisheries sector which, it said, has an ‘export potential of $1 billion’ annually and it can go further high with better planning.... Clearance of adhesives’ raw material stopped KARACHI, March 2: The Customs have stopped clearance of MEK and toluene, a basic raw material used in manufacturing of adhesive and rubber solution, and has asked the importers to provide NOC from the ministry of narcotics control.... UBL set to offload part of holdings on LSE LONDON, March 2: As fresh anxiety erupted about the health of the world’s major markets including the London Stock Exchange (LSE), market watchers here appeared somewhat reluctant to comment on reports... KSE-100 index loses 75 points on profit-selling KARACHI, March 2: Stocks on Friday remained under pressure on weekend profit-selling triggered by reports of fresh fall on the Shanghai bourse and its negative fallout spilled over to the Asian markets including KSE.... Canadian firm to open retail stores KARACHI, March 2: Yet another foreign retail network company seeks business opportunities in Karachi and other parts of Sindh to offer a variety of consumer items — including imported — to... Canadian GDP OTTAWA, March 2: Economic activity eased slightly in 2006, advancing 2.7 per cent over the year, Statistics Canada said on Friday.... Reserves up KARACHI, March 2: The country’s foreign exchange reserves increased by $62 million to another new high of $13.343 billion in the week ending on Feb 24, the central bank said on Friday.... Active trading on cotton market KARACHI, March 2: Active trading was witnessed on the cotton market as spinners and mills resumed their normal covering operations amid fears of fresh increase in prices.... Bid to revive Doha Round GENEVA, March 2: Ministers from four key power brokers in the World Trade Organisation — Brazil, the EU, India and the US — will meet in the next few days to try to unblock global trade talks, officials said on Friday.... European stocks mostly fall LONDON, March 2: European stock markets fell further in volatile trade on Friday, following more weakness on Wall Street and a mixed showing by Asian shares.... Palm oil futures down KUALA LUMPUR, March 2: Malaysian crude palm oil futures closed lower in thin trade on Friday, dragged down by lower US soyaoil prices, dealers said.... Gold prices LONDON, March 2: Gold fell below $660 an ounce for the first time since Feb 21, on Friday as shaky global share prices prompted investors to reduce positions in commodities.... Rating KARACHI, March 2: The JCR-VIS Credit Rating Company Ltd has assigned a management quality rating of `AM three plus’ to AMZ Asset Management Limited. The rating denotes “good management quality”, says a press release.... Port Qasim KARACHI, March 2: Low shipping activity was witnessed at the port where only one ship Hummurabi carrying containers was berthed at QICT during the last 24 hours, says a PQA press release.... Karachi Port operations KARACHI, March 2: Nine ships carrying raw jute, steel and chemicals are due to arrive at the outer anchorage on Saturday, according to KPT sources....

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