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March 15, 2007 Thursday Safar 25, 1428 Pakistan set to harvest 22m tons of wheat KARACHI, March 14: Amid an indicated shortfall of five to seven per cent in the global wheat production this year that also includes an expected deficit of three to five million... Textile industry profit declines sharply KARACHI, March 14: Pakistan’s textile sector posted 10 per cent plunge in profitability for the first half of the current year (July-Dec 2006). Tycoons blamed higher cost of inputs, rising... Competition body draft law awaits cabinet approval ISLAMABAD, March 14: The ministries of finance, law and justice have formally cleared the draft law to establish the Competition Commission, which will now be approved by the federal cabinet in... Petroleum policy to offer incentives ISLAMABAD, March 14: The new petroleum policy will entail lucrative incentives for prospective local and foreign investors in the onshore and offshore oil and gas exploration.... Stocks lose 128 points on lack of normal trading KARACHI, March 14: Stocks on Wednesday lacked normal trading interest as both local and foreign investors adhered to the sidelines apparently awaiting some positive developments on the presidential reference against the suspended chief justice.... Cold response to sale of subsidised items at USC KARACHI, March 14: The subsidised ghee and cooking oil offered by the government at the utility stores from March 10 has received a cold response from the general public because consumers have doubts over its quality.... Investors worried about political instability KARACHI, March 14: Foreign investors are showing signs of anxiety over the prospects of political stability in Pakistan. What foreign investors have started asking from their advisers was quite interesting and... SBP sells Rs24bn 12-month T-bills KARACHI, March 14: The State Bank slightly increased the cut-off yield on 12-month treasury bills in an auction held here on Wednesday. Banks only made bids for 12-month papers.... Russia bans rice import MOSCOW, March 14: Russia will ban rice imports from Pakistan from March 19 after finding a shipment infected with a dangerous pest, the animal and plant health watchdog Rosselkhoznadzor said on Wednesday.... BD willing to import wheat KARAHCI, March 14: A two-member Bangladesh delegation has shown its keen interest in importing around 200,000 tons of wheat from Pakistan. The Bangladeshi team led by Abdullah al-Amin during a meeting... Exporters losing orders KARACHI, March 14: The Pakistan Hosiery Manufacturers Association (PHMA) has complained that exporters are unable to fulfil their export orders owing to liquidity crunch caused by non-payment of sales tax refunds.... Oil prices fall LONDON, March 14: Oil prices hit reverse gear on Thursday as traders tracked fresh turmoil on global equity markets, rising US crude reserves and the build-up to this week''s OPEC output meeting.... Dollar falls LONDON, March 14: The dollar wilted against the euro on Wednesday on deepening worries about the health of the US mortgage market while the yen fell back against the pound and the euro on profit-taking.... MoU with Uzbekistan for trade via land signed ISLAMABAD, March 14: Pakistan will export textile products to the untapped market of Uzbekistan and other Central Asian Republics (CARs) through the land route via Afghanistan, a senior official told Dawn on Wednesday.... Cotton market steady on high price hopes KARACHI, March 14: Cotton market on Wednesday maintained a steady trend as ginners were not inclined to lower their asking prices amid hopes that prices could rise higher from the current levels.... Govt plans $300m UBL GDR sale HONG KONG, March 14: Pakistan’s government plans to sell a stake worth up to $300 million in United Bank Ltd. (UBL) through a global share sale, and it has invited six... Energy conference ISLAMABAD, March 14: A high-level official delegation led by Minister for Privatisation and Investment Zahid Hamid will leave next week for New Delhi to attend a two-day conference on emerging investment... Corporate taxes BERLIN, March 14: The German government on Wednesday adopted draft proposals for a reform of corporate taxation that would lead to a big cut in company taxes from next year.... Karachi Port operations KARACHI, March 14: Six ships carrying palm oil, containers and to load cement are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, March 14: Active shipping activity was witnessed at the port where three ships to load, unload containers, and edible oil were allotted berths at the QICT and MPC terminal, respectively, says a PQA press release.... Kazakh envoy sees vast scope of trade KARACHI, March 14: Pakistan and Kazakhstan should exchange trade delegations and also hold single-country exhibitions to explore vast scope of trade opportunities existing for the business communities of both the countries.... No service charge for students KARACHI, March 14: The State Bank has asked banks not to charge students for the collection of fees. The State Bank issued a circular on Wednesday with concerns that some of... Asian stock markets lower HONG KONG, March 14: Asian stock markets closed sharply lower on Wednesday, hit by a fresh round of turmoil after Wall Street tumbled overnight on figures showed growing problems in the US housing market, dealers said.... European stock markets slump LONDON, March 14: European stock markets tumbled further on Wednesday, following heavy falls on Wall Street and across Asia driven by renewed concern about the US housing sector.... Palm oil prices JAKARTA, March 14: Malaysia palm oil futures fell on Wednesday as players booked profits after gains for three straight days, amid talk of lower export figures as well as losses in soyaoil.... Karachi market rates KARACHI, March 14: The following were Wednesday’s commodity market rates in rupees....

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