Low Graphics Site

June 13, 2007 Wednesday Jamadi-ul-Awwal 27, 1428 Withholding tax to hit local car industry KARACHI, June 12: The imposition of five per cent withholding tax on locally assembled cars and one per cent surcharge on imports will push the prices of locally made cars up.A... 3 business centres planned to boost exports ISLAMABAD, June 12: The Ministry of Industries, Production and Special Initiatives has finalised a plan to set up business centres in major cities aimed at enhancing Pakistan''s falling exports by manufacturing international quality products, particularly through value-addition....   New rules to tax banks’ income ISLAMABAD, June 12: The government has proposed a range of amendments in the income tax law for computing income, profits and gains of banking companies in a bid to streamline taxation of these companies.... Oil drops amid higher demand forecast LONDON, June 12: World oil prices fell on Tuesday as the market shrugged off forecasts of higher crude demand to concentrate on data that is expected to show an increase in stockpiles of US gasoline, analysts said.... Services sector exports down ISLAMABAD, June 12: The service sector’s exports came down by 1.77 per cent in the first 10 months of the current fiscal year between July and April over the same months... Trade groups vow to conclude Doha Round by Dec ISLAMABAD, June 12: The G-20 and other developing states groups have reaffirmed to play an active role and to engage constructively at the highest level to move the Doha Round negotiating... Import levy, high wages to affect textile sector LAHORE, June 12: The imposition of one per cent surcharge on all imports, including raw cotton and textile machinery spares, will increase the price of local silver fibre putting additional burden on textile sector, spinners and apparel exporters said.... Dawood group signs pact for Islamic financing KARACHI, June 12: Agreement for the first largest Shariah-compliant financing transaction was signed here on Tuesday and mandate to arrange Rs8.5 billion funding was awarded to Meezan Bank and Habib Bank.... CBR to set up data-bank ISLAMABAD, June 12: Chairman, Central Board of Revenue (CBR), M Abdullah Yousuf, said on Tuesday that a data-bank will be created shortly to collect required information from different sources for tapping potential taxpayers in the tax net.... China warns US on bill BEIJING, June 12: China warned on Tuesday of unspecified countermeasures if the US Congress adopts a bill on Beijing’s foreign exchange regime that could lead to higher US tariffs on Chinese imports.... Stocks rise on selective buying KARACHI, June 12: Stocks on Tuesday staged a broad recovery initiated by the cement sector as investors covered positions on selected counters where the potential of capital appreciation was almost sure, analysts said.... EU-Russia talks BRUSSELS, June 12: A breakthrough in an 18-month impasse between the European Union and Russia over Moscow''s ban on meat imports from Poland is highly unlikely in talks due to begin on Wednesday, EU officials said.... Dollar gains LONDON, June 12: The dollar gained strength on Tuesday ahead of key data releases later in the week, while traders also anticipated legislation that might address charges that the Chinese yuan is deliberately undervalued.... G-33 discusses safeguards for farm products ISLAMABAD, June 12: The G-33 member states have emphasised for an early convergence on critical instruments of special products (SPs) and special safeguard mechanism (SSM) to ensure maximum benefit to developing countries under the current round of negotiations.... Pakistan, Ukraine cooperation stressed LAHORE, June 12: Ukrainian Ambassador Igor Pasko has said that both Pakistan and Ukraine have very strong credentials to give new strength to their respective economies, and lack of information about each other''s potentials is coming in the way.... Cotton market lacks buying activity KARACHI, June 12: Trading on the cotton market on Tuesday failed to pick up as spinners and mills were still in process of finalising their post-budget covering operations.... UK trade deficit shrinks LONDON, June 12: Britain’s deficit in the trading of goods globally dropped in April to the lowest level for nearly two years, official data showed on Tuesday.... India eyes 4.4m tons rice export in 2007 MUMBAI, June 12: India is likely to export 4.4 million tons of rice in 2007, almost the same as a year ago, the United Nation''s Food and Agricultural Organisation (FAO) said in its latest outlook.... Accord on South-South Cooperation KARACHI, June 12: Islamic Chamber of Commerce and Industry has signed a memorandum of understanding with Special Unit of South-South Cooperation (SU/SSC) of the UNDP for promoting south-south cooperation.... Karachi Port operations KARACHI, June 12: Nine ships including two cement loaders are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... EU warns China of backlash on trade BRUSSELS, June 12: China faces a backlash of “impatience and anger” if Beijing fails to redress increasingly lopsided trade relations with the European Union, EU trade chief Peter Mandelson warned on Tuesday.... Port Qasim KARACHI, June 12: Berthing activity was brisk as four ships to load and unload containers, rice, military helicopters and furnace oil were accommodated berths at QICT, MPT and Fotco Terminal during... Concern over load-shedding KARACHI, June 12: The Dairy Farmers Association, Karachi, has expressed concern over load-shedding being resorted to by the KESC at the cattle colony at Bin Qasim which had been resulting in water shortage for animals.... Asian stocks higher HONG KONG, June 12: Asian stocks closed mainly higher on Tuesday but gains were modest and investors cautious after an unimpressive performance by Wall Street overnight.... European stocks mixed LONDON, June 12: European stock markets were mixed on Tuesday, as Paris was dragged lower by the pharmaceuticals sector, after subdued trading overnight on Wall Street and earlier in Tokyo, dealers said.... Palm oil prices up KUALA LUMPUR, June 12: Malaysian crude palm oil futures shot up almost 5 per cent on Tuesday as strong buying after two straight days of sharp decline and concerns over tight supplies boosted the market....

Contributions Privacy Policy © DAWN Group of Newspapers, 2007