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March 11, 2007 Sunday Safar 21, 1428 India calls for full observance of Safta KARACHI, March 10: The Indian government is currently not considering withdrawing tariff concessions given to Pakistan under South Asia Free Trade Agreement (Safta) though it has the option as Pakistan has... Senate body suggests cut in GST rate ISLAMABAD, March 10: Senate Standing Committee on Finance and Revenue on Saturday suggested downward revision of the general sales tax (GST) rate from current 15 per cent to a reasonable level to reduce the burden of consumption tax on poor people.... No surge in TV sales before World Cup KARACHI, March 10: The electronic market players do not expect to gain much from Karachiites’ passion for the current cricket World Cup season. The fact is evident from the fact... Coal share in energy mix to be augmented ISLAMABAD, March 10: The government has decided to enhance the share of coal in overall energy mix from 7 per cent to 20 per cent for generating additional 20,000 megawatts of electricity in next 20 years.... Need for huge investment in human resource development LAHORE, March 10: Advisor to Prime Minister on Finance and Economic Affairs Dr Salman Shah on Saturday stressed the need for more investment in human resource development saying a better demographic profile could prove a major strength of the country.... SBP asked to submit report on forex investment ISLAMABAD, March 10: Senate Standing Committee on Finance and Revenue has asked the State Bank of Pakistan (SBP) to submit comprehensive report within seven days on foreign exchange investment abroad including rate of interest and its origin.... CFS investment falls KARACHI, March 10: The share business financing under the CFS last week on the Karachi Stock Exchange fell from the previous inflated level of Rs50 billion to Rs47.9... CBR raises Rs37.5m from import of batteries ISLAMABAD, March 10: The Central Board of Revenue (CBR) collected Rs37.589 million in customs duty, sales tax and withholding tax on import of automobile battery and its part during the last two and a half years.... Talks on FTA issues with Sri Lanka next week ISLAMABAD, March 10: Pakistan and Sri Lank will formally start negotiations next week for expanding the list of goods for customs duty reduction and removing irritants under the existing free trade agreement (FTA).... Iran finds new gas reserves TEHRAN, March 10: Geological surveys have confirmed new gas reserves in the southern Iranian province of Fars, a senior Iranian oil official said on Saturday without giving details of the size of the discovery.... China to build 37 airports BEIJING, March 10: China plans to invest 52 billion yuan ($6.7 billion) in building 37 new airports and expanding 31 others in the west of the country over the next four years, the People''s Daily said on Saturday.... Warehousing period extended ISLAMABAD, March 10: The Central Board of Revenue (CBR) has extended period and waiver of penal surcharges on overstayed goods lying uncleared in the warehouses. The decision was announced through a customs notification issued here on Saturday to facilitate the traders.... PVMA team leaves for Malaysia ISLAMABAD, March 10: A high-level delegation of Pakistan Vanaspati Manufacturing Association (PVMA) led by its chairman on Saturday left for Kuala Lumpur to attend the Price Outlook Forum 2007 being held from March 12-14.... Future of energy CAMBRIDGE, March 10: The United States needs to develop a national climate change policy, but also recognise that coal and other fossil fuels will remain an important energy source for decades, the chairman and chief executive of General Electric Co.... US, Brazil see progress in Doha round of talks SAO PAULO, March 10: Brazilian and US trade negotiators said on Saturday they believed they could make progress in the stalled Doha round of global trade talks but warned that the window would not stay open for long.... NZ group raises offer for Swiss firm GENEVA, March 10: New Zealand''s Rank Group announced on Saturday that it was raising its offer for Swiss packaging firm SIG after taking over a 22.01... Bids for Saudi fixed line licence RIYADH, March 10: Consortia led by Verizon Communications and India''s Mahanagar Telephone Nigam Ltd are among 10 bidding for Saudi Arabia''s second fixed line licence, the country''s telecom regulator said on Saturday.... Nigerian stocks rise 1.9pc LAGOS, March 10: Nigerian stocks inched higher this week as the All-Shares index rose 1.9 per cent to close at 41,103.81 points from 40,332.19 the previous week, brokers said on Saturday.... Trading remains firm on cotton market KARACHI, March 10: Cotton market on Saturday showed firm trend as prices were quoted higher by Rs50 per maund after spinners and mills made near-panic buying for no immediate bullish reason, floor brokers said.... Malaysian plan to sell off airlines property KUALA LUMPUR, March 10: Malaysia Airlines plans to sell off property, including a piece of freehold land and a building which it currently operates from, to the government''s pension fund.... N. Korea seeks lifting of economic sanctions BEIJING, March 10: North Korea will retaliate if the United States fails to keep its promise to lift financial sanctions imposed on the communist regime, Pyongyang''s chief nuclear negotiator said here on Saturday.... Karachi Port operations KARACHI, March 10: Seven ships carrying chemicals, containers and to load rice are due to arrive at the outer anchorage on Sunday, according to KPT sources.... Irish airlines plans to serve big airports FRANKFURT, March 10: Irish low-cost airline Ryanair plans to start serving larger airports in a bid to double passenger numbers, its chief executive said in an interview with German business magazine WirtschaftsWoche.... Commodity prices falter despite equities recovery LONDON, March 10: World commodity prices faced another mixed performance this week as investors mulled a modest recovery in global stock markets and signs of strengthening Chinese and American demand.... US welcomes end to cheap Chinese loans for exporters WASHINGTON, March 10: The United States on Friday welcomed China''s decision to scrap a perk for exporters that formed part of a landmark WTO case filed by Washington against Beijing.... Oil prices dive on profit-taking NEW YORK, March 10: World oil prices slumped on Friday, retreating from hefty gains made this week on a surprise drop in US energy inventories. Traders were also keen to book... Cooling US economy adds 97,000 new jobs WASHINGTON, March 10: US employers added 97,000 jobs in February, new data showed on Friday, suggesting the world''s biggest economy is chugging along despite weakness in the housing and auto sectors.The... Dollar firm after upbeat data on jobs NEW YORK, March 10: The dollar traded mainly higher on Friday as strong US job and trade data reduced the likelihood of the US Federal Reserve cutting interest rates any time soon.... Wall Street closes mixed NEW YORK, March 10: The major US share indexes closed mixed on Friday as investors generally welcomed the latest news on the nation''s job growth and a narrowing of the US trade deficit.... Foreign investments in Philippines up 27pc MANILA, March 10: Foreign direct investments (FDI) in the Philippines rose to 2.35 billion dollars in 2006, a 27 per cent increase over $1.85 billion posted in 2005, the central bank announced on Saturday....

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