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March 04, 2007 Sunday Safar 14, 1428 Govt fails to check rising economic disparities KARACHI, March 3: Uncontrolled price rise of almost all the essential items, rising social and economic disparities and growing unemployment haunt the civil-military set up as general election date draws closer,... Cotton output short of target by 10 per cent KARACHI, March 3: The dwindling phutti arrival from fields to the ginneries has almost dashed the hope of achieving officially fixed cotton production target of 12.5... Wholesalers attracting huge crowds KARACHI, March 3: Thriftiness has emerged as a fast growing habit among the majority of the white-collar and middle class people when it comes to make monthly purchases for running a household within means to avoid borrowings or eating into savings.... Banks earn huge profit in 2006 KARACHI, March 3: Banks in 2006 continued to make huge profits, higher than last year, but most of their income remained dominant of high banking spread which means positive for banks and negative for depositors.... Unisame calls for execution of SME policy KARACHI, March 3: The Union of Small and Medium Enterprises (Unisame) has called for early implementation of SME policy and formulation of SME Act in order to make the budget for 2007-08 and the next trade policy more relevant and effective.... PM urges full compliance of EU rules: Fish export KARACHI, March 3: Prime Minister Shaukat Aziz on Saturday asked the Sindh government to urgently take all necessary steps to ensure full compliance of EU standards to restore the export of fish products to the European Union countries.... CFS rates fall slightly KARACHI, March 3: The fund borrowing rates under the CFS on the Karachi Stock Exchange last week suffered a fractional fall of 16 basis points at 12.5... Pakistan among fast growing economies LAHORE, Mar 3: Pakistan is now equated with the fast growing economies like China and India, and is maintaining growth rate at 7-8 per cent.... Opec may delay output expansion plan NICOSIA, March 3: Opec’s $254bn upstream expansion plan to raise production capacity risks being delayed if oil prices drop below $50 a barrel, the cartel’s secretary general has warned.... UAE freezes accounts DUBAI, March 3: The United Arab Emirates has ordered local banks to freeze the accounts of 21 individuals and nine businesses suspected of involvement in laundering drug money, the UAE central bank governor said on Saturday.... ECB to debate on securities settlement FRANKFURT, March 3: The European Central Bank’s Governing Council will decide at its next meeting how to proceed with plans for a radical overhaul of securities settlement in Europe, an ECB policymaker said in an interview.... Apollo to acquire realtor firm for $1.9bn LONDON, March 3: US private equity firm Apollo said British real estate company Countrywide Plc had agreed to its one billion pound ($1.95bn) takeover offer.... Trading gets slow on cotton market KARACHI, March 3: Physical activity on the cotton market on Saturday shrank to low ebb as ginners further raised their asking prices for fine lots amid market talk of lower final crop figures.... E.ON may buy Enel stake in Endesa row FRANKFURT/MILAN, March 3: German utility E.ON may buy a stake in Italian rival Enel to use as a bargaining tool in its 41 billion-euro ($53.97bn) takeover bid for Spain’s Endesa, a magazine reported.... Anglo-Dutch firm to merge with Indian steelmaker NEW DELHI, March 3: Anglo-Dutch steelmaker Corus will merge with Tata Steel next month once the Indian company''s shareholders approve the $13.7 billion takeover, Tata said on Saturday.... Airbus sticks to job cuts FRANKFURT, March 3: The co-chief executives of Airbus parent company EADS said there was no alternative to thousands of job cuts at the troubled European planemaker and warned that strikes would only make things worse.... Seven groups bid for Saudi railway project RIYADH, March 3: Seven consortiums have submitted bids to build and operate a 450-km (280-mile) high-speed railway linking the Saudi cities of Medina and Mecca, the head of the state-run Saudi Railways Organisation said on Saturday.... Brazil-Japan ethanol project to cost $8bn SAO PAULO, March 3: A project between Brazil and Japan to help supply Brazilian ethanol made from sugarcane exclusively to the Japanese market could cost US$8 billion, Brazil’s largest newspaper reported on Saturday.The... Gabon raises fuel prices by 25pc LIBREVILLE, March 3: Gabon, one of Africa''s wealthiest countries thanks to oil reserves and a tiny population, raised fuel pump prices on Saturday by 25 per cent to improve public finances, a state regulator said.... Bolivia cuts economic growth outlook TRINIDAD, March 3: The worst flooding in 25 years in Bolivia has forced South America’s poorest nation to cut its forecast for economic growth this year by one percentage point, Vice President Alvaro Garcia Linera said.... Port Qasim operations KARACHI, March 3: Shipping activity picked up at the port where two vessels carrying containers and furnace oil were allotted berths at QICT and Fotco terminal during the last 24 hours, says a PQA press release.... Commodity markets shaken by global stocks downturn LONDON, March 3: Global commodity markets saw mixed fortunes this week amid heavy losses on stock exchanges which sparked fears of slowing American and Chinese demand for raw materials, traders said.... China terms stock market correction normal BEIJING, March 3: The sharp drop in Chinese stock markets in the past week is a normal correction that wasn’t driven by fundamental economic concerns, the head of Shanghai Stock Exchange said on Saturday.... Abu Dhabi Feb gold sales fall on higher prices DUBAI, March 3: Abu Dhabi''s gold industry sales fell 40 percent year-on-year in February as high prices dampened demand, Tushar Patni, the chairman of the emirate''s Gold and Jewellery Group, said on Saturday.... Yen jumps amid market turmoil NEW YORK, March 3: The yen gathered momentum on Friday with anxious investors closely watching the Japanese currency, at the heart of this week''s financial market turmoil.... UAE won’t revalue currency DUBAI, March 3: Gulf countries will decide whether to revalue their currencies at their next meeting in April, but the United Arab Emirates will not revalue separately, the UAE central bank governor said on Saturday....

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