DAWN - Business; June 30, 2007

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June 30, 2007	Saturday	Jamadi-us-Sani 14, 1428

UBL GDRs at LSE start on high note LONDON, June 29: By early afternoon on Friday, the UBL GDRs floated conditionally on Monday (June 25) on the London Stock Exchange (LSE) at around $12.90...		HBL’s IPO to be largest in Pakistan KARACHI, June 29: The HBL’s IPO (Initial Public Offering), which is expected to raise Rs12.2bn, would be the largest offering in Pakistan and it will enhance market capitalisation by over $3 billion, says a brokerage house report....

Viscose staple fibre plant shut down LAHORE, June 29: One of the two viscose staple fibre (VSF) manufacturers the government ostensibly seeks to protect through the imposition of 10pc federal excise duty on the import of and the sale of the locally-produced viscose is closed....		Incentives fail to lure investors in coal-based energy ISLAMABAD, June 29: The incentives offered by the government for coal-based power generation in the country have, so far, failed to attract international investors, Dawn has learnt....

Bull-run continues on stock market KARACHI, June 29: The KSE 100-share index on Friday briefly broke through the barrier of 13,800 but finished the weekend session below it on late-selling, indicating that it could take a breather after having hit its next target of 14,000 points....		Apta asks govt to save spinning industry LAHORE, June 29: The government has, so far, failed to implement the commitment given by Prime Minister Shaukat Aziz to the textile industry to mark down the interest rate on its all outstanding loans — classified or non-classified — to 7.5...

GST on computer equipment may go ISLAMABAD, June 29: Prime Minister Shaukat Aziz said on Friday that the government would take steps for promotion of Information Technology (IT) and would consider lifting of GST on computer equipment....		Customs detect irregularity in clearance: Used vehicles KARACHI, June 29: The customs authorities have detected cases where attempts were made to clear a large number of used vehicles on passports carrying fake entry and exit immigration stamps....

KSE posts 38pc growth in FY07 KARACHI, June 29: Friday being the last trading session of the fiscal year 2006-07, the Karachi Stock Exchange was calculated to have posted a growth of 38 per cent for the...		Customs duty relief ISLAMABAD, June 29: The Central Board of Revenue (CBR) has exempted customs duty on import of a range of machinery and parts, particularly those related to newspaper industry....

Oil price hits fresh high in US LONDON, June 29: The price of New York crude oil struck a fresh 10-month high above $70 a barrel on Friday on supply concerns in the United States, the world’s biggest consumer of energy, traders said....		CBR lists items for exemption ISLAMABAD, June 29: The Central Board of Revenue (CBR) has listed the items to be exempted from the levy of special excise duty (SED) of one per cent from July 1, 2007, according to a notification issued here on Friday....

Lint prices jump on panic-buying KARACHI, June 29: Cotton prices on Friday moved further higher by Rs100 per maund for fine lots from the southern Punjab cotton belt as some of the spinners indulged in panic-buying....		NWFP told to create cordial climate for industrialisation PESHAWAR, June 29: Governor, State Bank of Pakistan (SBP), Dr. Shamshad Akhtar, has said that no commercial bank will finance any industrial project in the NWFP unless the provincial government creates a cordial atmosphere for industrial development in the province....

Indian inflation falls NEW DELHI, June 29: India’s inflation has fallen to a 14-month low helped by lower food prices, data on Friday showed, easing pressure for further interest rate hikes....		Leadership award KARACHI, June 29: The advisory council of the Asian Banker Summit has awarded Mr. S Ali Raza, chairman and President of the National Bank of Pakistan, as the sole recipient of...

Karachi Port operations KARACHI, June 29: Six ships carrying vegetable oil and containers are due to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was brisk...		Port Qasim KARACHI, June 29: Three ships carrying containers, edible oil and coke were accommodated berths during the last 24 hours, said a PQA press release on Friday....

Asian stocks close mixed after Fed’s US outlook HONG KONG, June 29: Asian stocks closed mixed on Friday with investors digesting the US federal reserve''s latest outlook suggesting the world''s mightiest economy may have improved but inflation remained a concern....		Gold gains in Europe LONDON, June 29: Gold drifted higher Friday on a weaker dollar and firmer oil and dealers said physical buying might help the metal move further away from three-month lows....

European stocks lower LONDON, June 29: Europe''s main stock markets mainly fell on Friday after a mixed showing by Wall Street overnight. London''s FTSE 100 index of leading shares slid 0.38...		Palm oil prices up KUALA LUMPUR, June 29: Malaysian crude palm oil futures ended 1.8 per cent higher in light trade on Friday due to surging soyoil prices, while market participants awaited June export numbers....

Euro rises LONDON, June 29: The euro rose against the dollar on Friday, a day after the Federal Reserve left US interest rates unchanged, as strong economic data boosted the European single currency....		Karachi market rates KARACHI, June 29: The following were Friday’s commodity market rates in rupees....