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June 01, 2007 Friday Jamadi-ul-Awwal 15, 1428 Insider trading: attempt to malign Pakistan KARACHI, May 31: When the top financial sector regulators: The Governor State Bank of Pakistan (SBP) and the Chairman Securities and Exchange Commission of Pakistan (SECP) on different occasions denied that... Price-hike in cement, rice, ghee irks consumers KARACHI, May 31: Consumers receive another pre-budget shock, this time from the cement makers, in the shape of price increase by Rs20 per 50 kg bag in just eight days....   Duty exemption on textile machinery ISLAMABAD, May 31: Minister for Textile Industry Mushtaq Ali Cheema said on Thursday the government was considering exempting from customs duty import of textile machinery and components for up-gradation of the value added textile sector.... Trade gap swells on imports from China, India KARACHI, May 31: Pakistan has doubled its trade with India and increased exports to China during the 10 months of current year but the volume of trade has put more pressure on the country’s widening trade deficit.... KSE 100-share index flirts with 13,000-level KARACHI, May 31: The KSE 100-share index on Thursday narrowly missed its coveted target of 13,000 points by only six points and finished at its so far all-time peak level of 12,961.26... Oil prices hold steady despite US reserves dip LONDON, May 31: World oil prices held steady on Thursday as traders digested a surprise slump in US crude stocks, and as supply tensions eased in key producer Nigeria.... ABN Amro, PIA sign $522m accord KARACHI, May 31: Pakistan International Airline (PIA) and ABN Amro signed a loan financing arrangement for $522 million to fund acquisition of three new Boeing 777-300 ER aircraft for the national flag carrier.... Customs Intelligence uncovers Rs55m duty evasion KARACHI, May 31: The Directorate General of Intelligence and Investigation of Central Board of Revenue (CBR) has unearthed duty and tax evasion to the tune of Rs55 million on imports of... Indian economy grows by 9.4 per cent NEW DELHI, May 31: India''s economy grew faster-than-expected at a record 9.4 per cent pace in the year to March, beating a government forecast of 9.2... Rs719.6bn collected in 11 months ISLAMABAD, May 31: The Central Board of Revenue (CBR) collected Rs719.6 billion during the 11 months (July-May) of the this fiscal year as against Rs610.6 billion the same period last year, showing a cumulative growth of 17.9... Rs2bn Sukuk financing for SSGC KARACHI, May 31: The Meezan Bank and the Standard Chartered Bank have jointly signed a Rs2 billion Sukuk financing facility to the Sui Southern Gas Company (SSGC) to fund the company’s infrastructural development programme of Rs10 billion for the year 2006-07.... Meezan pension fund launched KARACHI, May 31: Al Meezan Investments, dedicated to providing Shariah Compliant Investment Solutions, is in the process of launching Pakistan''s first Shariah Compliant Pension Fund Scheme -- Meezan Tahaffuz Pension Fund (MTPF).... Cotton maintains firm outlook KARACHI, May 31: The cotton market on Thursday maintained firm outlook unlike the previous sessions, which lacked normal trading interest, as ginners started receiving buying enquiries from both mill and spinners.... JP Morgan sees huge investment potential: Investors’ moot ends LAHORE, May 31: SECP Chairman Razi ur Rehman has said that the government’s policy is to welcome and facilitate foreign investors to work in Pakistan. Addressing the 2-day meeting of foreign... Regional states focusing on Gwadar Port QUETTA, May 31: State Minister for Finance Omar Ayub Khan has stated that Balochistan is the economic future of Pakistan and all Central Asian States and other countries of the region want to do their future trade through the Gwadar Port.... Concessions urged in WTO talks BRUSSELS, May 31: European Commission President Jose Manuel Barroso warned that the struggling WTO talks would succeed only if other countries offered to cut their trade barriers.“We... US economic growth slows in first quarter WASHINGTON, May 31: The US economy weakened in the first quarter with a sluggish 0.6 per cent growth pace, data showed on Thursday, but many analysts said they see signs of a rebound ahead.... Karachi Port operations KARACHI, May 31: Five ships carrying containers, general cargo and to load cement are due arrive at the outer anchorage on Friday, according to KPT sources.... Power plant KARACHI, May 31: The consul-general of Turkey in Pakistan, Erdem Mutaf, has said that Turkey is keen to make investment in energy sector, and there are many other venues for bilateral trade between the two countries.... Reserves KARACHI, May 31: Pakistan''s total liquid foreign reserves stood at $13,778.1 million on May 26, State Bank of Pakistan said on Thursday.... Asian stocks higher HONG KONG, May 31: Asian stocks closed higher on Thursday with a record close on Wall Street overnight easing fears surrounding China and the latest sell-off on regional markets.... Palm oil prices up KUALA LUMPUR, May 31: Malaysian crude palm futures ended 3.2 per cent higher on Thursday, buoyed by rising soybean oil prices and steady growth in exports.... Euro rises LONDON, May 31: The European single currency rose against the dollar on Thursday after news that the United States economy experienced slower growth than previously thought in the first quarter of 2007.... Conversion rates KARACHI: The following are June 1 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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