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| June 24, 2007 | Sunday | Jamadi-us-Sani 08, 1428 |
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Bank of Punjab in the line of fire
KARACHI, June 23: Two days after damage had been done, the government of Punjab — the majority stakeholder in the Bank of Punjab (BoP) — came out with a handout on Friday afternoon in support of the bank.... 
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200 spinning units on verge of closure
LAHORE, June 23: Bank loans to the tune of Rs100 billion are feared to get stuck with the closure of around 200 spinning units in the country in the near future...
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17 major state unitsincur loss of Rs6.7bn
ISLAMABAD, June 23: Seventeen major state sector corporations incurred losses worth over Rs6.7 billion during the financial year 2004-05, according to the Auditor-General of Pakistan''s report....
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Western Union award for Pakistan Post
ISLAMABAD, June 23: Western Union, a leading money transfer company, has chosen the Pakistan Post for its Club 500 Award 2005-06 for its best performance....
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CFS rates show marginal rise
KARACHI, June 23: The average CFS rate on the Karachi Stock Exchange showed a modest rise of 32 basis points last week owing to pressure on liquidity and active early demand for funds, dealers said....
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FBR toreplace CBR from July 1
ISLAMABAD, June 23: The government has changed the nomenclature of the Central Board of Revenue (CBR) to the Federal Board of Revenue (FBR) on the pretext of enhancing capacity of the...
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Petroleum import bill swells to $6.637bn
ISLAMABAD, June 23: The country’s import bill of petroleum products rose by 11.15 per cent to $6.637 billion during the July-May period of outgoing fiscal year as against $5.971...
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Footwear show begins in Lahore
LAHORE, June 23: The two-day 9th International Footwear Exhibition, JUFT-2007, began on Saturday with 114 leading footwear manufacturers taking part in the show. The event is organised by the Pakistan Footwear Manufacturers Association (PFMA)....
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SME sector loan default rises alarmingly
KARACHI, June 23: The SME sector which is the backbone of the economy emerged as more prone to default than the other sectors and got the second place, just below the corporate sector, in the list of defaulting sectors....
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Textile exports to reach $11bn
ISLAMABAD, June 23: The textile export target has been projected at more than $13 billion for the fiscal year 2007-08 up by 20 per cent from the current fiscal year target, says Textile Minister Mushtaq Ali Cheema....
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Exports of traditional products plunge
ISLAMABAD, June 23: Pakistan’s export of traditional products — rice, carpets, sports, leather and footwear — recorded double digits decline during the first 11 months (July-May) of the outgoing fiscal year compared to corresponding period of last year....
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Govt plans to offer new concessions to investors
ISLAMABAD, June 23: The government plans to offer new concessions to local and foreign investors to help them invest in the proposed “government cities and textile cities” during the next financial year, says prime minister''s adviser on finance Dr Salman Shah....
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Economic ties
ISTANBUL, June 23: The leaders of 12 countries in the Black Sea region, among them Russian President Vladimir Putin, will gather here Monday to discuss projects aimed at boosting trade and economic cooperation....
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Buying spree continues on cotton market
KARACHI, June 23: Active trading was witnessed on the cotton market on Saturday as spinners and mills continued panic-buying to lift the local stuff irrespective of the ginner asking prices....
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JVC, Kenwood’s merger
TOKYO, June 23: Struggling electronics maker Victor Co. of Japan (JVC) has agreed to integrate with another Japanese high-tech firm Kenwood Corp. and create a new holding company in 2008, a press report said on Saturday....
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LSE buys Italian stock exchange
LONDON, June 23: The London Stock Exchange confirmed on Saturday it was buying the Borsa Italiana for 1.6 billion euros ($2.15 billion) in shares, according to a joint statement....
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Karachi Port operations
KARACHI, June 23: Eight ships carrying containers, steel and to load naphtha are expected to arrive at the outer anchorage on Sunday, according to KPT sources....
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Port Qasim
KARACHI, June 23: Berthing was active as two container ships, Ningbo and Sima Pars, were accommodated berths at QICT during the last 24 hours, said a PQA press release on Saturday....
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US economy uncomfortably close to stalling: IMF
WASHINGTON, June 23: The US economy appears to be emerging from a period of sluggish growth but is “uncomfortably close” to the “stall speed” associated with past recessions, the International Monetary Fund said Friday....
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NY cotton lower
NEW YORK, June 23: Cotton futures finished lower Friday on speculative sales as players eyed the start of deliveries in the spot contract next week, analysts said....
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Euro higher against yen
NEW YORK, June 23: The dollar was roiled on Friday by turbulence affecting the stock and bond markets while the euro set another all-time high against the yen, which felt more pressure from the so-called carry trade....
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Oil hits nine-month peak
LONDON, June 23: Crude oil prices reached their highest levels for nine months this week, before paring gains on news of rising energy stockpiles in the United States....
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