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May 22, 2007 Tuesday Jamadi-ul-Awwal 05, 1428 Next year’s PSDP may exceed Rs514bn ISLAMABAD, May 21: The annual plan coordination committee (APCC) which met here on Monday did not discuss next year’s annual plan, but held partial discussions on a Rs514 billion Public Sector Development Programme (PSDP) proposed by the Planning Commission for 2007-08.... Senate body flays PSO for dumping products ISLAMABAD, May 21: The Senate Standing Committee on Petroleum and Natural Resources on Monday took serious notice of the alleged irregularities in transportation and dumping of petroleum products by the Pakistan...   Bad weather, disease damage mango crop MULTAN, May 21: Bad weather in Sindh and a disease known as ‘Powdery Mildew’ in Punjab has damaged the crop of mango, the king of fruits.... Iraqi oil exports up 10pc despite sabotage BAGHDAD, May 21: Iraqi oil exports have increased 10 per cent over the last 12 months despite hundreds of acts of sabotage that killed nearly 200 ministry employees, Oil Minister Hussein Shahristani said on Monday.... Stocks fall on political uncertainties KARACHI, May 21: The KSE 100-share index shed 57 points to close at 12,283 on the first day of trading this week on Monday. Traders said that the market had shed... Deadline fixed for clearance of old vehicles KARACHI, May 21: The Central Board of Revenue (CBR) has fixed a deadline of May 31 for the clearance of seized second hand buses and trucks imported under different schemes in completely built-up unit (CBU).... Euro hits record high against yen LONDON, May 21: The euro hit a record high against the yen early on Monday after Group of Eight finance ministers ignored the Japanese currency’s weakness at a weekend meeting, dealers said.... Oil prices rise LONDON, May 21: World oil prices rose on Monday as the market saw no end to concerns over tight supplies caused by unrest in key crude producer Nigeria and output disruptions at US refineries, traders said.... Foreigners withdrawing from trade expo KARACHI, May 21: Despite the fact that normality has returned to Karachi after May 12 mayhem, many foreign exhibitors have started pulling out from the “My Karachi – oasis of harmony”... Warid in talks with foreign firms KARACHI, May 21: Warid Telecom is in talks with several foreign firms, including Singapore Telecommunications (Singtel), to sell a minority stake, industry sources said on Monday.... UAE research foundation launched KARACHI, May 21: Sheikh Mohammad bin Rashid Al-Maktoum, vice president and prime minister of the UAE, and Ruler of Dubai, on Saturday launched the Mohammad bin Rashid Al Maktoum Foundation, a... Economists trim US outlook for 2007 WASHINGTON, May 21: Leading US business economists have cut their growth outlook for the US economy in 2007 amid a sharp downturn in housing, but see a rebound in 2008, a survey showed on Monday.... Cotton market lacks lustre KARACHI, May 22: The cotton market on Monday lacked normal trading interest as spinners were reluctant to replenish their stocks at prevailing prices hovering around Rs2,750.... Singapore GDP forecast revised upwards SINGAPORE, May 21: Singapore revised upwards its 2007 economic growth forecast on Monday, surprising economists, after a strong 6.1 per cent first quarter expansion. Financial services and construction led the gains... EBRD backs Russian entry into WTO KAZAN (Russia), May 21: The European Bank for Reconstruction and Development (EBRD) laid out ambitions here Monday to boost activity in the Balkans and the Russian-led Commonwealth of Independent States, while... Blackstone hopes to raise $7bn in China deal NEW YORK, May 21: Private equity giant Blackstone said on Monday it planned a partial stock flotation and a stake sale to a Chinese state investment firm that together could raise more than $7 billion.... UAE to boost ties with Seoul SEOUL, May 21: United Arab Emirates Prime Minister Sheikh Mohammad bin Rashed al-Maktoum told South Korean businessmen on Monday he wants to build a “partnership” between Seoul and his booming oil-rich Gulf country.... Rating KARACHI, May 21: The JCR-VIS Credit Rating Company Limited (JCR-VIS) has announced that the entity ratings of BBB/A-2 (Triple B plus/A-Two) and the ratings of A- (single A minus) assigned to... Saudi firm to buy GE Plastics NEW YORK, May 21: US conglomerate General Electric said on Monday it had agreed to sell its global plastics division, GE Plastics, to state-controlled Saudi Basic Industries Corporation (SABIC) for $11.6... Daewoo wins $1bn orders SEOUL, May 21: South Korea’s Daewoo Shipbuilding and Marine Engineering said on Monday it had won orders worth a total $1.05bn to build 12 container ships for German clients.... Asian stocks higher HONG KONG, May 21: Asian stocks closed sharply higher on Monday, buoyed by a record performance on Wall Street and China''s strong showing after its central bank dramatically moved to slow its galloping economy.... Malaysian palm oil lower KUALA LUMPUR, May 21: Malaysian crude palm futures closed marginally lower on Monday as export data failed to impress the market and players booked profit.... European shares rise LONDON, May 21: Europe''s main stock markets crept higher on Monday, in a cautious start to the week after Friday''s record run in London and New York.... Gold up LONDON, May 21: Gold inched higher on Monday after hitting a two-month low last week but may struggle to bounce in the short term as sentiment has turned bearish, traders said....

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