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April 17, 2007 Tuesday Rabi-ul-Awwal 28, 1428 Removal of barriers to farm trade sought: Cairns Group moot begins LAHORE, April 16: As the three-day 31st inter-ministerial meeting of The Cairns Group went under way here on Monday, farm leaders urged their trade ministers to aggressively work for the removal... Joint communique to be finalised today LAHORE, April 16: The three-day inter-ministerial meeting of The Cairns Group, which began here on Monday, will finalise a joint communiqué on Tuesday morning as some difference of opinion on it prevented its finalisation on the inaugural day of the meeting.... CDGK plan to fix prices of essentials hits snag KARACHI, April 16: After failing miserably in controlling the milk price, the city government’s plan to fix prices of other essential commodities like pulses and rice has also hit snags.... No NWFP plan to retire costly federal debt PESHAWAR, April 16: The NWFP government will not be able to create fiscal space through premature retiring of expensive federal loans in the current fiscal year as no funds have so far been earmarked for the same.... KSE 100-index crosses 12,000-point barrier KARACHI, April 16: The KSE 100-share index on Monday finally broke the psychological barrier of 12,000 points on active buying in oil, cement and banking shares ahead of their board meetings... Record $520.24m remitted in March KARACHI, April 16: Overseas Pakistanis remitted a record amount of $520.24 million during March 2007 as against $423.56 million the same month last year, a rise of 22.8pc.... Guidelines set for Islamic banking KARACHI, April 16: The State Bank of Pakistan has formulated draft risk management guidelines for Islamic banking institutions (IBIs) to further strengthen the regulatory framework in the area of risk management.... Oil prices falter on profit-taking LONDON, April 16: Crude prices fell in London on Monday due to profit-taking, reversing gains won earlier on concerns over tight supplies of motor fuel reserves in the US, traders said.... GST on computers halves exports ISLAMABAD, April 16: The 15 per cent general sales tax (GST) imposed on computer hardware and accessories has not only halved Pakistani PC/server shipments but has also adversely affected foreign investment.... MCA starts probe into cement price hike KARACHI, April 16: The Monopoly Control Authority (MCA) has sought views and comments of the builders and developers on the reasons which they believe could be behind frequent price hikes in cement in the last few months.... Election schedule under new trade law ISLAMABAD, April 16: The commerce ministry has clarified that elections of trade organisations under the new Trade Ordinance will be held within a period of 90 days.... Bosicor to open first outlet KARACHI, April 16: Bosicor Pakistan Limited, the fifth oil refinery in the country, is set to commission its first service station / petrol pump by June.... Eurozone growth NEW YORK, April 16: Growth in the eurozone is expected to hit 2.7 per cent in 2007, supported by a milder-than-expected slowdown in the US economy, a senior European Union official said on Monday.... High prices mar trading on cotton market KARACHI, April 16: Trading on the cotton market on Monday failed to pick up as the opening session of the new week remained terribly depressed as price ideas of buyers and sellers failed to find a meeting ground.... German economy FRANKFURT, April 16: The run of good news for the German economy, the biggest in Europe, looks set to continue for some time, with Bundesbank President Axel Weber arguing on Monday... Acquisition, mergers in oil, gas hit $291bn LONDON, April 16: The value of mergers and acquisitions in the energy sector in 2007 approached the “mega merger” high levels of nearly a decade ago, a report said on Monday.... Karachi Port operations KARACHI, April 16: Five ships carrying containers, chemicals and to load naphtha are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, April 16: Brisk shipping activity was witnessed at the port where three ships to load, unload containers and rice were accommodated on berths at QICT and MPT, respectively, during the last 24 hours, says a PQA press release.... Hotel body seeks abolition of bed tax ISLAMABAD, April 16: The hotel industry has asked the government to abolish bed tax in the upcoming budget on the plea to promote establishment of hotel chains in the country.... Wheat prices trade near 3-year peak in London LONDON, April 16: The price of wheat held close to a three-year high here on Monday, owing to forecasts of falling supplies amid freezing weather in key exporter the United States, analysts said.... Airblue starts new cargo service KARACHI, April 16: The Airblue announced on Monday the launching of an eCargo service to cater to the air freight market of the country, the UAE and the UK.... Biofuel conference MADRID, April 16: More than 200 participants from around the world are set to take part in a conference on the future of the biofuel sector here on Tuesday, which organisers say is one of the first in Europe.... Mutual funds launched KARACHI, April 16: The UBL Fund Managers Ltd. recently launched its mutual funds and advisory services in the United Arab Emirates. UBL Fund Managers is currently managing four open-end mutual... Asian stocks rally sharply higher HONG KONG, April 16: Asian stocks closed sharply higher on Monday, buoyed by gains on Wall Street at the end of last week and a G7 finance ministers meeting in Washington which gave the region''s exporters a nudge.... Malaysian palm oil prices KUALA LUMPUR, April 16: Malaysian crude palm oil futures jumped 2.3 per cent on Monday to hit new eight-year highs, boosted by A big increase in exports and India''s decision to cut palm import tariffs.... European stock markets shine LONDON, April 16: European equity markets sparkled on Monday, with London''s FTSE 100 shares index at the highest level for almost six and a half years as investors spied a potential bidding war for Dutch bank ABN Amro.... London sugar up LONDON, April 16: London white sugar futures rose to three-week contract highs on Monday on trade and speculative buying as the market digested a bullish delivery tonnage of 810,800 tons against the May expiry.... US sales up WASHINGTON, April 16: US consumers regained some of their legendary voracious appetite for shopping last month as retail sales spiked by a more-than-expected 0.7 per cent, the government said on Monday....

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