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March 18, 2007 Sunday Safar 28, 1428 Perfect ways to discourage investment KARACHI, March 17: A notification by the State Bank of Pakistan (SBP) -- of which an ordinary customer knows nothing -- directs banks to ‘block’ the accounts of depositors who have... Ports may face acute congestion in 3 years KARACHI, March 17: The three container terminals at the country''s (Karachi and Qasim) ports are going to face an acute congestion within next two to three years if there is no... NEC to discuss rising inflation, low exports: PM to chair meeting on 22nd ISLAMABAD, March 17: The National Economic Council (NEC) will discuss the rising inflation, poor exports, slow down in imports and the widening current account deficit when it meets here on March 22.... Automated tax deposit system launched ISLAMABAD, March 17: The Central Board of Revenue (CBR) on Saturday launched an automated tax deposit system, in collaboration with the State Bank of Pakistan (SBP) and the National Bank of Pakistan (NBP), to facilitate tax payments.... Trade bodies asked to renew licences ISLAMABAD, March 17: The ministry of commerce has asked the trade organisations to apply for fresh licence latest by April 15. Only those trade organisations would apply whose licences stand revoked... China relaxes gold controls BEIJING, March 17: China will gradually relax controls over the import and export of gold and allow more foreign access to domestic futures markets, the central bank said on Friday in a lengthy announcement of new financial reforms.... Exclusive body for auto sector proposed ISLAMABAD, March 17: A Japanese researcher Yasuhiko Shinagawa has proposed establishment of exclusive organisation for development of auto sector in Pakistan. He was speaking in a seminar arranged by Engineering Development Board (EDB) in collaboration with JICA here on Saturday.... Realtors fear price falls on political uncertainty KARACHI, March 17: The property market, which has been lacklustre for the last one and half years, is yet to feel the radiation from the ongoing political crisis as there has been no fluctuation in the real estate prices.... Leather units face closure due to high cost KARACHI, March 17: About 56 units of leather garments closed down during last two years owing to tough competition faced in the world market from the Chinese and Indian exporters, who... Pakistan prime focus of foreign investors ISLAMABAD, March 17: Pakistan has become a destination of choice for foreign investment which is expected to cross record $5 billion this year. This was stated by Prime Minister Shaukat Aziz... CFS rates fall to 12.39pc KARACHI, March 17: The CFS rates on the Karachi Stock Exchange last week showed a fractional decline of 18 basis points at 12.39 per cent from the previous 12.57... Tremendous growth seen in petroleum sector ISLAMABAD, March 17: Minister for Petroleum and Natural Resources Amanullah Khan Jadoon said on Saturday that as a result of vibrant policies of deregulation liberalisation and privatisation, the petroleum sector has witnessed a tremendous growth in the last few years.... IFC-PICG workshop on corporate governance KARACHI, March 17: International Finance Corporation (IFC), the private sector arm of the World Bank Group, in partnership with the Pakistan Institute of Corporate Governance (PICG), organised a one-day workshop on... Textile industry fails to justify huge subsidies ISLAMABAD, March 17: Tax evading textile industries are seeking taxpayers’ money in the shape of subsidies to depress the price of their products to finance purchases of the rich countries’ consumers.... Cotton market wears deserted look KARACHI, March 17: Cotton market finished the weekend session on a steady note as prices were firmly held at the overnight level despite the absence of buyers.... SC special bench decides 85pc cases ISLAMABAD, March 17: The Special Bench of Supreme Court of Pakistan has disposed of more than 85 per cent of the 1,400 tax cases and appeals that had been pending in the apex court for the last many years.... Operators’ voice revenue seen falling KARACHI, March 17: A survey by Oracle and the Economist Intelligence Unit reveal that over 80 per cent of communication industry executives believe that voice calls will no longer make-up the primary revenue source for communications carriers within six years.... Karachi Port operations KARACHI, March 17: Six ships including a car carrier and a rice loader are due to arrive at the outer anchorage on Sunday, according to KPT sources.... Port Qasim KARACHI, March 17: Three ships carrying containers, edible oil and wheat arrived at the outer anchorage during the last 24 hours, said a PQA press release on Saturday.... Crackdown on BD realtors DHAKA, March 17: Bangladesh real estate companies warned on Saturday they face financial ruin following a government corruption crackdown on new apartment owners. A military-backed government came to power vowing to... China raises interest rates BEIJING, March 17: China''s central bank said on Saturday it would raise both its lending and deposit rates by 0.27 percentage points, effective on Sunday, to bring investment and credit growth in check and help balance the economy.... Oil prices down after Opec decision NEW YORK, March 17: World oil prices edged lower on Friday as traders digested the impact of a decision by the Opec cartel to keep its crude production levels steady.... Dollar falls NEW YORK, March 17: The US dollar fell sharply on Friday after an inflation snapshot triggered renewed concerns about the US economy, traders said. The single European currency was changing hands at $1.3307... London commodity prices mixed LONDON, March 17: Raw materials saw mixed trading again this week, with crude oil prices retreating, as another fierce sell-off in global equities created ripples across world commodities markets.Stock... Wall Street closes lower NEW YORK, March 17: The major US share indexes ended lower on Friday after a stronger-than-expected snapshot on inflation renewed economic concerns days before the US Federal Reserve meets to mull US interest rates.... US gold futures NEW YORK, March 17: US gold futures held onto healthy gains into Friday''s close, lifted to a one-week high by a slumping dollar that was undermined when US economic data suggested... NY cotton settles firm NEW YORK, March 17: Cotton futures closed higher Friday on speculative fund buying as the trade digested an estimate by an analytical firm on likely US 2007 cotton plantings, brokers said.... Dubai Ports completes sale of US operations DUBAI, March 17: Dubai port operator DP World has completed the sale of its US operations, drawing the curtain on its controversial investment in the United States, the official WAM news agency reported on Saturday.... Monorail JAKARTA, March 17: The Indonesian government has guaranteed a monorail project in the capital Jakarta, allowing plans to issue a $650 million Islamic bond in the Middle East to go ahead, reports said on Saturday.... Milk plant KABIRWALA, March 17: President Pervez Musharraf opened a milk processing plant here on Friday. The plant is the largest such facility in Asia and Nestle’s largest milk reception facility in the...

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