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June 27, 2007 Wednesday Jamadi-us-Sani 11, 1428 Record $2.537bn import of eatables ISLAMABAD, June 26: The import bill of eatables has reached record $2.537 billion during the 11 months of the fiscal year 2006-07 as against $2.494 billion over the same period last year.... Beijing cuts tariff for Islamabad BEIJING, June 26: China will exempt imports from 26 under-developed African countries from tariff, its finance ministry said on Tuesday, in an attempt to promote mutual trade....   Rains, storm fears cripple trade activity KARACHI, June 26: The persistent heavy downpour since Saturday’s storm claiming over 200 lives and the fears of cyclone on Tuesday coupled with massive power outages crippled commercial and industrial activities in the city.... Oil prices decline ahead of US data LONDON, June 26: World oil prices fell heavily on Tuesday on expectations of a further rise in US crude stockpiles and news of increased output from key producer Nigeria, traders said.... $1bn ADB’s clean energy programme MANILA, June 26: The Asian Development Bank (ADB) said on Tuesday it was planning to boost its clean energy programme to $1 billion annually amid warnings Asia''s contribution to green gas emissions could get worse.... IMF delays sale of gold reserves WASHINGTON, June 26: The International Monetary Fund has delayed by one month a board meeting to discuss financial reform, including the possible sale of some of its valuable gold reserves, a spokesman said on Tuesday.... Investment trend shifts from banks to telecom KARACHI, June 26: The race for foreign investment has left the banking sector far behind the telecommunication sector, which emerged as centre of activities for foreign investment.... Cars import falls 22.89pc ISLAMABAD, June 26: The import of complete knocked-down (CKD) and semi-knocked-down (SKD) cars recorded a decline of 22.89 per cent during the first 11 months (July-May) of the current fiscal year over the same period of last year.... Saudi-Indian trade crosses $9.87 billion RIYADH, June 26: Bilateral trade between India and Saudi Arabia crossed $9.87 billion in 2006.... Russian oil firm extends empire MOSCOW, June 26: State-run oil major Rosneft, Russia''s biggest producer, is to buy hundreds of petrol stations and oil production units that once belonged to Yukos, the firm said in a statement on Tuesday.... Stocks maintain bullish tone KARACHI, June 26: Stocks on Tuesday finished with an extended gain on active follow-up support as the market witnessed a major shift in the investor buying strategy apparently to minimise financial risks and realise quick gains.... Trade with Thailand LONDON, June 26: Trade relations between Pakistan and Thailand have great potential to grow which would be of mutual benefit to each other.... Dollar falls slightly LONDON, June 26: The dollar fell slightly against the euro on Tuesday, but reaction was limited to disappointing US housing market and consumer confidence data.... Clarification ISLAMABAD, June 26: The commerce ministry has clarified a news report published in Dawn on Tuesday (June 25) under the caption `Rs842.2m embezzlement detected in export funds’.... Rains mar trading on cotton market KARACHI, June 26: Physical activity on the cotton market on Tuesday remained dull owing to persistent rains in the entire Sindh cotton belt and allied delivery problems.... Thailand, India trade talks next months NEW DELHI, June 26: Thailand''s military-installed premier said on Tuesday his country would start fresh talks with India next month to conclude a free trade accord aimed at boosting bilateral trade.... Dutch chemical firm buys Huntsman NEW YORK, June 26: Dutch chemical firm Basell is buying the US chemical company Huntsman Corporation for $9.6 billion in deal that has been approved by both companies’ boards, the two chemical groups said on Tuesday.... ACP nations urged to forge new trade pact WIESBADEN (Germany), June 26: EU Development Commissioner Louis Michel on Tuesday urged Africa, Caribbean and Pacific nations to conclude new trade deals with Europe to replace an accord expiring this year.... Karachi Port operations KARACHI, June 26: Eight ships carrying raw jute and to load naphtha and clinkers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Saudi firm to acquire stake in Malaysia’s Maxis KUALA LUMPUR, June 26: State-owned Saudi Telecom will acquire a strategic 25 per cent stake in Malaysia''s Maxis Communications in a deal worth $3.05 billion, the official Bernama news agency said on Tuesday.... China to curb speculative capital inflows BEIJING, June 26: China said on Tuesday that it was set to tighten the monitoring of speculative capital inflows and the crackdown on fraudulent export transactions that disguise the movement of speculative funds.... Tax relief sought ISLAMABAD, June 26: The Islamabad Chamber of Commerce and Industry (ICCI) has asked the government to exempt Rs27 duty and taxes on per kg of edible and cooking oil to bring down prices of essential kitchen items.... Antitrust probe BRUSSELS, June 26: EU regulators have resumed their antitrust probe into the merger that created music giant Sony BMG after companies delivered crucial information, the European Commission said on Tuesday.... Ciba to delist from NYSE ZURICH, June 26: The Swiss company Ciba Speciality Chemicals said on Tuesday that it would withdraw its listing on the New York Stock Exchange with effect from July 16.... US consumers confidence plunge WASHINGTON, June 26: US consumer confidence reversed course and nose-dived in June to the lowest level in nearly a year as Americans saw a softening in business and employment opportunities, a survey showed on Tuesday.... Ratings LAHORE, June 26: The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of MCB Bank Limited at ‘AA+’ (Double A plus) and ‘A1+’ (A one plus) respectively.... Asian stocks lower HONG KONG, June 26: Asian stocks closed mostly lower on Tuesday with investors tracking Wall Street and concerns over the potential impact of failed subprime mortgages in the US housing market.... Palm oil prices fall KUALA LUMPUR, June 26: Malaysian crude palm oil futures fell 1 per cent on Tuesday as expectations of a build-up in stocks due to weakening demand and an uptick in imports from Indonesia pulled down the market.... European stocks slide LONDON, June 26: European equities sank on Tuesday, with British defence company BAE Systems leading the fallers in London after it was hit by an anti-corruption probe in the United States, dealers said.... Gold down LONDON, June 26: Gold slipped further and silver touched a one-month low on Tuesday as a firmer dollar versus the euro reduced investor appetite for the metals....

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