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June 05, 2007 Tuesday Jamadi-ul-Awwal 19, 1428 Insurance cover for foreigners launched: Terrorism risks KARACHI, June 4: The state-run National Insurance Company Limited (NICL) in a major initiative has started offering a terrorism risk cover on protection of lives and property of tourists and foreign... Market capitalisation up Rs1tr in 5 months KARACHI, June 4: The paper value of corporate Pakistan has shown an unfathomable increase of rupees one trillion to surpass Rs3.8 trillion on June 6 from Rs2.7...   Adjustment of duty on many items likely KARACHI, June 4: The CBR is expected to announce duty adjustment on a large number of goods in the budget 2007-08 to check rampant mis-declaration of certain goods.... Exporters urge release of wheat against LCs KARACHI, June 4: Exporters have demanded clearance of wheat against those letters of credit received by banks till May 23, and have urged Passco and Punjab Food Department to immediately fulfill their commitments towards export contracts.... Stocks finish with clipped gains on late selling KARACHI, June 4: Trading on the share market on Monday resumed on a higher note on active short-covering in the blue chips at the weekend lower levels but late selling in... SBP chief defends monetary policy KARACHI, June 4: Pakistan''s central bank governor said on Monday that the current tight monetary policy was appropriate and no immediate change was on the cards despite accelerating broad money growth.... Oil prices rise on supply concerns LONDON, June 4: Oil prices advanced on Monday on worries about tight US gasoline supplies, which remain below their average levels for this time of year, traders said.... Euro gains against dollar LONDON, June 4: The euro gained against the dollar on Monday after stronger-than-expected eurozone inflation data ahead of this week’s interest rate decision from the European Central Bank, dealers said.... Data on international transactions sought KARACHI, June 4: The State Bank on Monday asked the authorised dealers to provide company-wise data regarding international transactions being made for balance of payments.... Go-ahead for HBL IPO given ISLAMABAD, Jun 4: The Board of Privatisation Commission, chaired by Zahid Hamid, Federal Minister for Privatisation and Investment, here on Monday took decisions on various details relating to the Initial Public... Textile policy likely by month-end ISLAMABAD, June 4: Federal Minister for Textile Industry Mushtaq Ali Cheema has said the proposed National Textile Policy (NTP) will be announced in the last week of this month.... Prices ease further on cotton market KARACHI, June 4: Cotton prices on Monday eased further as some of ginners lowered their asking prices apparently to get out of the market before the federal budget.... India, Brazil seek to boost trade NEW DELHI, June 4: Emerging economic powers India and Brazil pledged on Monday to increase bilateral trade four-fold to $10 billion in the next three years.... Karachi Port operations KARACHI, June 4: Four ships carrying general cargo, containers and crude oil are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Acquiring stakes PARIS, June 4: Global steel giant Arcelor Mittal said on Monday it had launched an offer for the minority shares in Arcelor Brazil priced at 21.10... Trade officers’ selection begins ISLAMABAD, June 4: The ministry of commerce has initiated a process of selecting trade officers in BPS-18, 19 and 20 for posting in Pakistan missions abroad.... Major IT show to open in Taipei TAIPEI, June 4: The world''s major technology firms are ready to display their cutting-edge products in Asia''s biggest information technology trade fair here this week and generate multi-billion dollar business opportunities, organisers said Monday.... Pirated goods PARIS, June 4: The value of global counterfeited goods traded in 2005 was at least $200 billion and could be several hundred billion dollars more, the Paris-based OECD estimated on Monday.... Asian stocks higher HONG KONG, June 4: Asian stocks closed sharply higher on Monday with investors riding high on Wall Street''s record close and all but ignoring steep falls in the Chinese markets.... Palm oil up KUALA LUMPUR, June 4: Malaysian crude palm futures closed 1.5 per cent higher on Monday, stopping short of a new high as firm soyaoil and concerns over supplies boosted the market.... Gas discovery VIENNA, June 4: Austrian oil and gas group OMV had discovered and successfully tested gas in its Tajjal 1 exploration well in the Gambat exploration block in Pakistan, it said on Monday.... Swiss economy GENEVA, June 4: The International Monetary Fund on Monday praised Switzerland’s economic performance and monetary policy, highlighting low inflation and a dynamic financial sector. “The economy is performing well....

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