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| June 23, 2007 | Saturday | Jamadi-us-Sani 07, 1428 |
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Provinces pay back Rs40.2bn to Centre: CDLs, foreign loans
ISLAMABAD, June 22: The centre has recovered about Rs40.2 billion cash development and foreign loans from provinces during the outgoing fiscal year, about 150 per cent higher than Rs16 billion target set in the budget 2006-07, official data suggests.... 
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$6-7bn to be spent on infrastructure
ISLAMABAD, June 22: Prime Minister Shaukat Aziz said has said that $6-7 billion will be spent on infrastructure development in Pakistan during the next five years....
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Exporters slate govt textile policy
KARACHI, June 22: Disappointed over the budgetary proposals contained in the 2007-08 budget, the textile industry has now entered into most critical stage of its history, particularly when the policies announced...
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NA approves 3 sales tax slabs for retailers
ISLAMABAD, June 22: The budget for the fiscal year 2007-08 passed by the National Assembly on Friday carried slight changes in the sales tax, customs and income tax introduced through the Finance Bill 2007....
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Stocks plunge on political uncertainty
KARACHI, June 22: Stocks on Friday fell across-the-board on panic-selling triggered by reports of filing of disqualification reference against the prime minister by the Opposition amid fears of political uncertainty....
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Spinners hold rally in Islamabad
ISLAMABAD, June 22: A large number of spinners held a demonstration on Friday in front of the parliament to press the government for a relief package for the spinning industry....
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Saudi Pak Bank in talks on stakes sale
KARACHI, June 22: The Saudi Pak Bank is in talks with several prospective buyers, including some from the Gulf, for the sale of a majority stake that could fetch more than $100 million, banking sources said on Friday....
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Karachi retailers reject new price list
KARACHI, June 22: After skipping the price list for May 15 to June 15, the City District Government Karachi (CDGK) has again come out with a price list of 66 retail items without mentioning the wholesale rates....
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Smuggled vehicles to be legalised by 30th
ISLAMABAD, June 22: The government on Friday allowed clearance of smuggled vehicles on 30 per cent redemption fine, besides payment of duty and taxes....
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Oil prices climb on strike in Nigeria
LONDON, June 22: World oil prices climbed on Friday, reversing earlier losses as traders worried over possible disruptions to energy supplies from Nigeria amid the African country''s general strike.Brent...
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Euro all-time high
LONDON, June 22: The euro set another all-time high against the yen on Friday while the dollar surged to a four-and-a-half-year peak against the Japanese currency as dealers tallied up interest rate differentials....
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Karachi — world’s 2nd least expensive city
Karachi, June 22: Expanding both vertically and horizontally, home to one of the most heterogeneous mix of population, Karachi, the port city of Pakistan, has maintained its position as the second...
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SBP sells Rs12bn T-bills
KARACHI, June 22: The State Bank on Friday sold treasury bills worth Rs12 billion to absorb liquidity from the market. The SBP conducted Open Market Operation (OMO) to sell Rs9 billion...
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Balochistan asked to cut reliance on Centre: Financial needs
QUETTA, June 22: The Balochistan government has been urged to find out new and dependable sources of income generation to cut its reliance on federal divisible pool and grants for smooth running of its financial affairs....
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Firmer conditions on cotton market
KARACHI, June 22: Cotton market on Friday showed firm trend but physical business remained at low ebb as southern Punjab markets were closed owing to weekly holiday....
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Exporters urged to explore Chinese market
KARACHI, June 22: The outgoing commercial counsellor of the People’s Republic of China, Zhao Qingmao, has urged the Pakistani exporters to explore and enter into the growing Chinese market to increase Pakistan’s exports to China....
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Takeover activity sets new record
LONDON, June 22: Merger and acquisition activity in the first six months of 2007 hit a record, boosted by the battle for Dutch group ABN Amro and rapid growth of the private equity sector, a study showed on Friday....
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Britain still sees good chance for WTO deal
BRUSSELS, June 22: British Prime Minister Tony Blair still sees a “good chance” of clinching a free-trade deal at the WTO a day after India and Brazil walked out of crunch talks, his official spokesman said on Friday....
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Auto demand boosts CNG prospects in India
MUMBAI, June 22: Indian energy firms are stepping up spending on compressed natural gas (CNG) infrastructure to meet soaring demand from vehicle makers, but poor facilities may hamper gas adoption in the near term, analysts say....
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Karachi Port operations
KARACHI, June 22: Nine ships carrying DAP fertiliser and to load cement and naphtha are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, June 22: Three ships to load and offload containers and furnace oil were accommodated berths at QICT and Fotco terminal during the last 24 hours, said a PQA press release on Friday....
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Asian stocks close lower
HONG KONG, June 22: Asian stocks shrugged off a solid overnight performance by Wall Street and closed lower on Friday with investors again consolidating on the back of recent gains....
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European stocks drop
LONDON, June 22: European equities extended losses on Friday in the wake of weakness shown by Asian markets, dealers said. Investors meanwhile digested new developments surrounding a possible takeover of Borsa Italiana, which owns Milan''s stock exchange....
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Malaysian palm oil prices
KUALA LUMPUR, June 22: Malaysian crude palm oil futures edged lower on Friday in light trade as prices of rival soybean oil declined and the market awaited further news that Indonesia may cut export tax on palm oil products....
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