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May 23, 2007 Wednesday Jamadi-ul-Awwal 06, 1428 Buyers hold back export orders worth millions: Aftermath of May 12 killings KARACHI, May 22: Lack of security and continued tension in the metropolis in the aftermath of May 12 bloody incidents have sent negative signals around the world and shattered the confidence... CFS MK-II ‘concept paper’ finalised KARACHI, May 22: The ‘concept paper’ relating to Continuous Funding System (CFS) MK-II was finalised by the Securities and Exchange Commission of Pakistan’s committee at its meeting on Tuesday, Shaukat Tarin, chairman of the committee told Dawn ....   Pakistan to spend extra $1.1bn on furnace oil ISLAMABAD, May 22: Pakistan will be paying $1.1bn (little over Rs65bn) extra on import of furnace oil in the current fiscal year mainly because of electricity shortage and the burden will grow in coming years.... No trace of FBI in Karachi KARACHI, May 22: Both bankers and journalists on Tuesday have been trying to smell arrival of an FBI team in Karachi to probe a banking scandal involving millions of dollars of insider trading, but failed to find a clue.... Eatables import bill hits record $2.36 billion ISLAMABAD, May 22: The country’s food import bill reached to the highest ever level of $2.360 billion during the first 10 months of the current fiscal year, up by 5.31... No change in govt stance on wheat export ISLAMABAD, May 22: Pakistan will go ahead with its plans to export 1.3 million tons of wheat this season despite a surge in domestic prices, a senior government official said on Tuesday.... Oil prices slip LONDON, May 22: World oil prices fell on Tuesday as traders cashed in their profits, shrugging off a fresh production cut at Prudhoe Bay -- which is the largest oil field in the United States.... Omantel eyes stake in Pakistan company MUSCAT, May 22: Oman Telecommunications Co. (Omantel) said on Tuesday it was considering buying into a Pakistani telecom company to expand outside its home market.... Stocks rally on institutional buying KARACHI, May 22: The share market on Tuesday staged a snap rally boosted by active short-covering in the oil shares followed by reports of increase in world oil prices and sympathetic earning-based covering purchases on the other counters, notably leading banks.... Textile exports up by 6pc in 10 months ISLAMABAD, May 22: Export of textile products geared up to $8.866 billion mark in the first 10 months (July-April) of the current fiscal year up 6.18... UN plan to help Asian states achieve MDGs Karachi, May 22: Government ministers from across the Asia-Pacific region have expressed support to a roadmap, which aims to help the poor countries lagging behind to achieve the Millennium Development Goals... Karachi Port operations KARACHI, May 22: A dozen ships carrying containers and to load rice and cement are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, May 22: Three ships to load and offload containers and crude oil were allotted berths during the last 24 hours, said a PQA press release on Tuesday.... Subdued trading on cotton market KARACHI, May 22: Trading activity on the cotton market on Tuesday failed to pick up as spinners and mills kept to the sidelines apparently awaiting the arrival of imported stuff into their ginneries.... Bush wants American to lead World Bank WASHINGTON, May 21: President George W. Bush said on Monday he wants an American to succeed Paul Wolfowitz as president of the World Bank, playing down speculation he might turn to departing British Prime Minister Tony Blair for the job.... Siemens new CEO FRANKFURT, May 22: Siemens has appointed a new chief executive from outside the company for the first time in its 160-year history who is also a non-German.... Payment deal awarded to HSBC KARACHI, May 22: Metro Cash and Carry Pakistan (Private) Limited has mandated HSBC Pakistan for its international and domestic payments, overdraft, and working capital facility, says a press release.... NTC mulling cut in palm oil import duty ISLAMABAD, May 22: The National Tariff Commission (NTC) has sought feedback from all stakeholders for reduction in import duty on crude palm oil (CPO).... Warehousing ISLAMABAD, May 22: The CBR has extended the warehousing period and waived penal surcharge on overstayed goods lying in all the warehouses.... Appointment KARACHI, May 22: The Government of Pakistan has appointed Majyd Aziz, President, Karachi Chamber of Commerce and Industry, as member of the Railway Board, Ministry of Railways, for a period of two years.... Rating KARACHI, May 22: The JCR-VIS Credit Rating Company Ltd has assigned the fund performance ranking of Crosby Dragon Fund at MFR-I Star for the period ending Dec 11, 2006, which denotes weak performance vis-a- vis other open-ended mutual funds.... Asian stocks close higher HONG KONG, May 22: Asian stocks shrugged off a mixed overnight performance by Wall Street and closed mostly higher on Tuesday amid some solid corporate earnings reports and brighter regional investor sentiment.... European shares mixed LONDON, May 22: Europe''s main stock markets showed mixed fortunes on Tuesday, mirroring the showing by Wall Street overnight.... Malaysian palm oil up KUALA LUMPUR, May 22: Malaysian crude palm futures closed higher on Tuesday as a supply squeeze and steady exports supported the market....

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