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July 03, 2007 Tuesday Jamadi-us-Sani 17, 1428 Prices of atta, onion surge to new peaks KARACHI, July 2: While onion price hit a new peak of Rs20 per kg on Monday from Rs15 per kg, the wholesale price of atta surged to Rs1,150 per 80 kg from Rs1,130 due to increase in wheat price.... Financial worth of PSO being evaluated ISLAMABAD, July 2: The pre-qualified bidders of Pakistan State Oil (PSO) have raised certain issues which are being addressed to complete the transaction soon, said the minister for privatisation and investment....   Small farmers denied access to bank credit: Absence of land title in Sindh KARACHI, July 2: More than 250,000 small farmers in Sindh have been denied access to the bank credit for last five years mainly because the provincial Board of Revenue has failed... Radical reforms needed to achieve $45bn exports ISLAMABAD, July 2: Pakistan will have to undertake aggressive tariff reforms, seek more market access and diversify its export base for reaching the ambitious export target of $45 billion by the year 2013.... Bull-run marks start of new fiscal at KSE KARACHI, July 2: The KSE 100-share index on Monday made the new fiscal debut at a terribly bullish note and broke through two consecutive barriers at 13,930.00... 10pc levy on viscose staple fibre criticised KARACHI, July 2: A major anomaly has been detected in the policy with the imposition of a 10 per cent federal excise duty on import of viscose staple fibre and its local production.... UK to offer 10-year business visas ISLAMABAD, July 2: The British High Commission in Islamabad will issue visas to businessmen for a period of 10 years in a bid to increase the business-to-business interaction between the two countries.... Revenue collection jumps to Rs840bn ISLAMABAD, July 2: Revenue collection increased to Rs840.6 billion during the outgoing fiscal year 2006-07, which is up by 17.8 per cent from 2005-06’s collection of Rs713.4 billion.... Inflation JAKARTA, July 2: Indonesia''s annual inflation eased slightly in June to 5.77 per cent, beating market expectations and signalling a possible further drop in interest rates, official data and analysts said on Monday.... Exporters refunded Rs80bn in 2006-07 ISLAMABAD, July 2: The payment of refund/rebate to exporters recorded a fall of 5.9 per cent to Rs80.043 billion during the 2006-07 as against Rs85.116 billion paid in the previous year.... Deadline extended KARACHI, July 2: The deadline for meeting the requirement of Computerised National Identity Card (CNIC) to maintain bank accounts and other banking purposes has again been extended.... Rs45bn T-bills auction KARACHI, July 2: The State Bank of Pakistan has announced that it will auction three-, six- and 12-month maturity treasury bills worth Rs45 billion on Wednesday.... Euro 2-month high LONDON, July 2: The euro spiked to a two-month high against the dollar on Monday after the release of positive economic data for the eurozone and on expectations of higher interest rates, dealers said.... Oil eases despite supply concerns LONDON, July 2: World oil prices fell on profit-taking on Monday but losses were limited by concerns over tight supplies, as the International Energy Agency called for increases to US refining capacity, traders said.... Cotton prices up on rain damage reports KARACHI, July 2: A fresh price flare-up was witnessed on the cotton market on Monday as reports of fresh rain in the cotton belt and damage to standing new crop worried... NY cotton futures mixed NEW YORK, July 2: Cotton futures settled mixed on Monday as the market seemed to be taking a breather after a sizzling rally sparked by a government plantings report last week, analysts said.... Better governance spur growth KARACHI, July 2: Well-run governments get better results out of their budget resources, according to Fiscal Policy and Economic Growth: Lessons for Eastern Europe and Central Asia, released in Brussels on Monday by the World Bank.... US economy gaining steam WASHINGTON, July 2: The US economy appears to be gaining momentum and with it the risk of higher inflation, a survey of economists by the Wall Street Journal showed on Monday.... Indian trade deficit rises by 45pc NEW DELHI, July 2: India’s trade deficit grew by 45 per cent in May to $6.21 billion compared with last year as imports leapt thanks to a rapidly growing economy, according to data released on Monday.... Port Qasim KARACHI, July 2: Brisk shipping activity was witnessed at the port where three ships carrying containers, and edible oil were accommodated on berths at QICT and MPL terminal, respectively, during the last 24 hours, says a PQA press release.... Turkish economy ANKARA, July 2: Turkey''s economy grew by 6.7 per cent in the first quarter of 2007 compared to the same period last year, the Turkish Statistics Institute said on Monday.... WB president WASHINGTON, July 2: Robert Zoellick started work on Monday as president of the World Bank, after a pay-and-promotion scandal toppled its last chief, Iraq war architect Paul Wolfowitz.... Asian stocks close higher HONG KONG, July 2: Asian stocks closed mainly higher on Monday with investors consolidating on domestic issues after Wall Street finished last week barely lower, failing to provide the region with a solid lead.... Palm oil jumps KUALA LUMPUR, July 2 : Malaysian crude palm oil futures closed 1.7 per cent higher on Monday, boosted by rising soybean oil and fresh buying.But traders said gains were capped by June exports numbers.... European stocks fall LONDON, July 2: Europe''s main stock markets dropped in morning deals on Monday, with London trading affected by security worries after the failed bomb attacks across Britain.... Company news KARACHI: Pakistan State Oil (PSO) on Monday signed a memorandum of understanding (MoU) for fuel supply with Kot Addu Power Company for its planned 400-500MW expansion project of its Kapco complex, says a press release....

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