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April 15, 2007 Sunday Rabi-ul-Awwal 26, 1428 7.5 to 8pc GDP growth projected for next fiscal: NEC mid-term review KARACHI, April 14: The government plans to project an economic growth target of 7.5 to eight per cent in the next fiscal year 2007-08 as planners are pretty upbeat on economic performance during last four years when an average of 7.5... Surge in ghee, cooking oil prices continues KARACHI, April 14: The price of 16-kg ghee container has surged to Rs1,180 from Rs1,060 on March 26 following persistent increase in palm olien prices on the world markets.... CSF identifies snags in promoting competition ISLAMABAD, April 14: The Competitiveness Support Fund (CSF) has identified several gaps and shortcomings that are preventing firms and organisations from fostering competitiveness in Pakistan.... Sharp rise in govt borrowings KARACHI, April 14: The government has sharply increased its borrowings for the budgetary support, but most of the burden was put on scheduled banks instead of the State Bank.... Saarc talks on services sector soon ISLAMABAD, April 14: The member states of the South Asian Association for Regional Cooperation (Saarc) will soon initiate negotiations on services sector for trading among each others as part of the South Asia Free Trade Agreement (Safta).... Investment under CFS close to Rs50bn KARACHI, April 14: The CFS investment on the Karachi Stock Exchange last week swelled to Rs49.7 billion and actively supported the prevailing bull-run. Owing to sustained run-up on the stock market... BIT, ROZs to be discussed with USTR today ISLAMABAD, April 14: Pakistan will seek early legislation on Reconstruction Opportunity Zones (ROZs) by the US Congress besides finalisation of the much-awaited Bilateral Investment Treaty (BIT) between the two countries.... Workshop on tax reforms ISLAMABAD, April 14: The Central Board of Revenue (CBR) will hold a two-day national conference on the steps taken so far as part of the Tax Administration Reforms Programme (TARP).... NA body contests SECP decision ISLAMABAD, April 14: The National Assembly Standing Committee on Finance has reignited debate over the decision of the Securities and Exchange Commission of Pakistan (SECP) of clearing brokers from the charges of their involvement in the March 2005 stock market crash.... Fair oil price sought RIYADH, April 14: Saudi Arabia, the world’s top oil exporter, is seeking fair prices for crude oil that would protect the interests of both consumers and producers, King Abdullah said on Saturday.... China to increase imports from Pakistan KARACHI, April 14: Consul General of People’s Republic of China Chen Shanmin has assured to encourage Chinese companies to import more from Pakistan to reduce the trade imbalance, which is presently heavily in favour of China.... Prices of 13 items go up ISLAMABAD, April 14: Prices of 13 essential kitchen items, including tomatoes, registered a substantial increase during the week ended April 13, 2007, over the previous week, statistics division said on Saturday.... Extension ISLAMABAD, April 14: Ministry of Commerce has further extended the deadline for renewing licences of trade organisations to June 30, 2007 from the earlier May 15 to facilitate the trading community.... Refinery plan KUWAIT, April 14: Kuwaiti oil services firm Gulf Petroleum Investment (Petrogulf) said on Saturday it plans to help build a $130 million oil refinery in northern Iraq with two partners.... India may face more monetary tightening NEW DELHI, April 14: India could face more monetary policy tightening as it battles inflation but fears its economy will suffer a “hard landing” are unfounded, investment bank Goldman Sachs says.... Russia sees firm rouble, less inflation WASHINGTON, April 14: The Russian rouble is likely to appreciate further in 2007, a trend that the economy must adjust to, Deputy Finance Minister Sergei Storchak told Reuters on Saturday.... Bullish trend on cotton market KARACHI, April 14: Cotton market on Saturday maintained a bullish outlook as ginners appear to be in no hurry to sell their unsold positions hoping apparently fresh increase in prices.... Energy summit to discuss ethanol issue CARACAS, April 14: South American leaders will gather on Monday to discuss energy integration projects at a summit hosted by Hugo Chavez, oil-rich Venezuela''s firebrand president whose opposition to ethanol puts him at odds with his Brazilian counterpart.... BD decision on Tata’s offer in a month DHAKA, April 14: Bangladesh government is expected to decide within a month on Indian conglomerate Tata''s $3 billion investment plan, a top investment official said on Saturday.... Freight subsidy scheme simplified KARACHI, April 14: The Trade Development Authority of Pakistan (TDAP) has further simplified freight subsidy scheme to facilitate exports of non-traditional items, developmental sectors and to new markets.... Karachi Port operations KARACHI, April 14: Eight ships carrying containers, general cargo and crude oil are expected to arrive at the outer anchorage on Sunday, according to KPT sources.... Port Qasim KARACHI, April 14: Four ships scheduled to load and offload containers, diesel oil and chemicals were berthed at QICT, Fotco Terminal and EVT during the last 24 hours, said a PQA press release on Saturday.... Oil hits seven-month high LONDON, April 14: The price of crude oil reached the highest level since September in London trading this week as the market worried about tight US stockpiles of motor fuel heading into the peak demand season.... US backs World Bank boss but pressure grows WASHINGTON, April 14: Beleaguered World Bank boss Paul Wolfowitz, embarrassed by new revelations over a pay scandal, faced mounting calls on Friday to resign but won fresh backing from the White House.... G7 mulls better use of oil money WASHINGTON, April 14: Saudi Arabia, United Arab Emirates, China, and Russia discussed with G7 nations how surpluses derived from oil sales should be invested and Beijing''s plans to more actively manage... Euro hits 2-year high against dollar NEW YORK, April 14: The euro surged to a two-year high against the dollar on Friday as the greenback was buffeted by worries about weakening growth and a persistently high trade deficit as global finance leaders met in Washington.... India to build industrial corridor NEW DELHI, April 14: India will build an industrial corridor between Delhi and Mumbai at a cost of $50 billion with Japanese assistance, India''s trade minister, Kamal Nath, said on Saturday.... EU assembly panel backs roaming caps for all BRUSSELS, April 14: A European parliament committee backed plans on Thursday to switch all European Union mobile phone users automatically to capped roaming prices after a large political group changed tack.... ABN Amro confirms more mergers THE HAGUE, April 14: ABN Amro, which is in exclusive talks with Britain''s Barclays Bank about a takeover deal, confirmed press reports that Bank of Scotland together with Fortis and Banco Santander also approached the Dutch bank about a possible acquisition.... Google buys DoubleClick SAN FRANCISCO, April 13: A bidding war between Google and Microsoft ended on Friday with Google agreeing to pay $3.1 billion to add online advertising firm DoubleClick to its Internet money-making arsenal....

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