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March 16, 2007 Friday Safar 26, 1428 Credit card business slows down on high rates KARACHI, March 15: The growth of credit cards business slowed down in the last 12 months amid high charges and mishandling of the soaring complaints of customers, said a banker.... IFC plan to boost HBFC housing finance ISLAMABAD, March 15: The International Finance Corporation (IFC) has presented a detailed business plan for Pakistan''s House Building Finance Corporation (HBFC) enabling the company to provide housing finance to some of the country''s poorest people.... Govt consolidating banking reforms RAWALPINDI, March 15: Adviser to the Ministry of Finance and Economic Affairs Dr. Ashfaq Hassan Khan has said that while the implementation of reforms in the banking sector continues, the government is now moving towards consolidating these reforms.... Oil demand to grow at 1.5pc this year: Opec VIENNA, March 15: World oil demand will grow by 1.5 per cent in 2007 from the level last year, the Organisation of Petroleum Exporting Countries said in its monthly report published on Thursday.... Stocks manage to regain 34 points KARACHI, March 15: Stocks on Thursday recovered from the overnight lows on stray short-covering at the lower levels on the low-priced shares and finished partially recovered but the underlying sentiment remained shaky owing to standoff on the legal issues.... Attracting investment in industrial sector KARACHI, March 15: Senate Chairman Mohammedmian Soomro has said the government will provide better infrastructure facilities to attract investment in industrial sector that will create more jobs and help in alleviating poverty.... Microsoft signs MoU for capacity building ISLAMABAD, March 15: Pakistan Software Export Board (PSEB) and Microsoft have signed a memorandum of understanding that will go towards increasing the capacity building of IT industry of Pakistan.... CBR seeks assistance to broaden tax base ISLAMABAD, March 15: The Central Board of Revenue (CBR) will seek international organisations’ assistance to broaden its narrow tax base to bring the potential taxpayers to the tax net.... REAP probing infected rice export to Russia KARACHI, March 15: The Rice Exporters Association of Pakistan (REAP) has been contacting Pakistani Embassy in Moscow and Russian Embassy in Pakistan to find out the facts regarding the supply of infected rice to Russia.... London ranked top financial centre LONDON, March 15: The Global Financial Centres Index (GFCI) launched here on Thursday shows London and New York as the only two truly global financial centres, well ahead of the two... Oil prices mixed as Opec keeps output steady LONDON, March 15: World oil prices fell in London but held firm in New York on Thursday after the Organisation of Petroleum Exporting Countries kept its official production quota at 25.8... Takeover bid for CBOT NEW YORK, March 15: The Intercontinentalexchange (ICE) launched on Thursday a takeover offer worth nearly $10 billion for the Chicago Board of Trade (CBOT), hoping to upset an agreed bid for CBOT by another Chicago market.... Dollar falls LONDON, March 15: The dollar fell to a two-week low against the euro here on Thursday after two US manufacturing surveys produced results well below forecasts.... Lint prices surge on active demand KARACHI, March 15: Cotton prices on Thursday were marked up by Rs25 per maund as some of the leading spinner groups indulged in big-lot business to corner the unsold stocks.... Russia signs $900m oil pipeline deal ATHENS, March 15: A Russian delegation led by President Vladimir Putin signed on Thursday a long-delayed agreement with Greece and Bulgaria to build $900 million pipeline carrying Russian oil from the Black Sea to the Aegean.... British Airways loses appeal BRUSSELS, March 15: British Airways on Thursday lost its appeal against an EU court decision to fine the company 6.8 million euros ($9m) for abusing its dominant market position in Britain.... Great scope for Pakistani products in Cuba: envoy LAHORE, March 15: The Cuban Ambassador in Pakistan Gustavo Machin Gomez has said that there is a huge potential of Pakistani rice, textiles, leather and sports goods in Cuba and Pakistani... China on top for trademark requests GENEVA, March 15: China and Russia received the largest number of international trademark applications in 2006, as foreign companies boosted their presence there, the World Intellectual Property Organisation said on Thursday.... Karachi Port operations KARACHI, March 15: Seven ships carrying containers and general cargo and to load cement and molasses are due to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, March 15: A record cargo volume of 0.110 million tons comprising 0.100m tons of import and 0.010m tons of export tonnage was handled during the last 24 hours, said a PQA press release on Thursday.... Cyprus adopts euro NICOSIA, March 15: The Cyprus parliament on Thursday voted in favour of adopting the euro as planned on Jan 1 despite opposition from a senior partner in the island''s ruling coalition.... FTO orders refund ISLAMABAD, March 15: The Federal Tax Ombudsman, Justice (Retd) Munir A. Sheikh, has asked the collector of customs (appraisement) Karachi to refund the withheld amount of Rs2 million to the complainant.... Asian stock markets higher HONG KONG, March 15: Asian stock markets closed higher on Thursday, recovering some lost ground as a bounce on Wall Street helped steady nerves after another roller-coaster ride driven by concerns over the US economic outlook, dealers said.... Gold gains LONDON, March 15: Gold moved higher on Thursday, tracking a rise in oil prices and a rebound by stocks, but investors remained wary because of the metal''s recent erratic trading pattern.... Palm oil up KUALA LUMPUR, March 15: Malaysia palm oil futures closed higher on Thursday on buying activity after bullish comments from industry analysts at a price outlook conference.... Karachi market rates KARACHI, March 15: The following were Thursday’s commodity market rates in rupees....

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