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June 28, 2007 Thursday Jamadi-us-Sani 12, 1428 Saving schemes for Pakistanis in Gulf states ISLAMABAD, June 27: The State Bank has allowed the Central Directorate of National Savings (CDNS) to offer its saving schemes to the Overseas Pakistanis living in Saudi Arabia and other Middle Eastern countries.... Exemption for commercial importers ISLAMABAD, June 27: CBR chairman Abdullah Yousuf said on Wednesday commercial importers will pay 2 per cent sales tax on value addition as their final liability....   12 IPOs floated on KSE in FY07 KARACHI, June 27: The Karachi Stock market saw a total of 12 equity offerings, which set out to raise Rs6.3 billion in the financial year 2007.... Oil prices jump on weak US stocks LONDON, June 27: Crude oil prices rebounded strongly on Wednesday, reversing earlier losses after fresh data revealed a surprise decline in stockpiles of motor fuel in the United States, traders said.Gasoline... Stocks rise further on fresh short-covering KARACHI, June 27: The share market on Wednesday maintained its upward drive for the third session in a row as investors were not inclined to take even a technical breather and made fresh covering purchases on selected counters.... Saudi Pak real estate firm being launched ISLAMABAD, June 27: The Saudi Pak Real Estate Development Company is being launched in the first quarter of 2008 aimed at meeting the growing housing requirements of Pakistan by having joint ventures with China, United Arab Emirates (UAE) and Malaysia.... Aptma slates 10pc excise duty on viscose fibre import LAHORE, June 27: The government has imposed 10 per cent excise duty on the import of viscose staple fibre — a move criticised by the spinning industry alleging that it would protect a local manufacturer.... Vegetable prices surge on short supplies KARACHI, June 27: Most varieties of vegetables on Wednesday became costlier at the retail stage with tomato taking the lead at Rs80-100 per kg, while broiler live bird’s price surged by... Euro declines LONDON, June 27: The euro fell against the dollar on Wednesday despite weaker-than-expected figures for US durable goods orders as a meeting of the Federal Reserve loomed over the currency market.In... Sheets import from India extended ISLAMABAD, June 27: The government on Wednesday extended permission to import iron sheets via land route from India till December 2007. The decision was notified through an order issued here by the commerce ministry amending the Import Policy Order 2006.... Rs7m paid under tax amnesty scheme LAHORE, June 27: Some 20 tax defaulters have so far availed of the federal government’s amnesty scheme, which allows them to pay only the principal amount of sales tax and excise... PTA talks with Bosnia soon ISLAMABAD, June 27: Pakistan will soon initiate talks on Preferential Trade Agreement (PTA) with Bosnia-Herzegovina to increase volume of trade between the two countries. An official source in the commerce ministry... China tightens food safety measures BEIJING, June 27: China has seized two fruit shipments from the United States and warned it would apply greater scrutiny to US cargoes, even as it tightens the screws on the manufacturers of unsafe food at home.... Prices rule firm on cotton market KARACHI, June 27: Cotton market on Wednesday finished on a firm note as ginners are not inclined to sell their stocks below Rs2,800 per maund but spinners stayed on the sidelines owing to delivery problems because of rain.... Karachi Port operations KARACHI, June 27: Five ships carrying general cargo, containers and to load cement are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Paulson for overhaul of US capital market rules WASHINGTON, June 27: Treasury Secretary Henry Paulson called on Wednesday for an overhaul of US capital markets regulation, saying reforms are needed to maintain American leadership.... Norway raises key rate OSLO, June 27: The Norwegian central bank said on Wednesday it had raised its key interest rate a quarter of a point to 4.50 per cent.... High US corporate taxes lamented NEW YORK, June 27: The US tax burden on businesses is much heavier than that in the European Union, driving investors away from US markets, the head of NYSE Euronext, John Thain, said on Wednesday.... Opec warns US lawmakers ISTANBUL, June 27: Opec President Mohammed al-Hamli warned US lawmakers on Wednesday they were taking a “really dangerous step” in seeking legislation to sue the oil group.... EU executive chides Romania, Bulgaria BRUSSELS, June 27: The European Commission told EU newcomers Bulgaria and Romania on Wednesday they have made insufficient progress in fighting corruption and that they risk sanctions in the future if they do not meet detailed benchmarks.... US Fed may keep rates steady WASHINGTON, June 27: The Federal Reserve opens a two-day meeting on Wednesday where policymakers are likely to hold rates steady and note signs of a rebound in the US economy despite the persistent slump in housing.... Ratings KARACHI, June 27: The JCR VIS Rating Company has finalised the fund stability rating of AA- assigned to the Pak-Oman Advantage Fund, says a press release.... Poultry rates KARACHI, June 27: The following are Thursday’s poultry market rates:... Asian stocks close mostly lower HONG KONG, June 27: Asian stocks closed mostly lower on Wednesday with investors again nervous and cashing-up ahead of a US interest rate meeting by the Federal Reserve to be held later in the day.... European stocks drop LONDON, June 27: Europe''s main stock markets fell on Wednesday after Wall Street had finished slightly lower overnight, traders said. In London the share price in Northern Rock tumbled by more... Palm oil prices KUALA LUMPUR, June 27: Malaysian crude palm oil futures fell 0.6 per cent on Wednesday, extending losses since last week as lower prices of rival soyaoil and expectations of swelling reserves due to weak demand weighed on the market....

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