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July 04, 2007 Wednesday Jamadi-us-Sani 18, 1428 Poultry farms in Sindh suffer loss of Rs670m: Rains, storms KARACHI, July 3: The Pakistan Poultry Association (PPA) has finally come out with exact financial loss of Rs670 million from the killing of over 3.0 to 3.2... 12 spinning mills closed in 10 days LAHORE, July 3: At least 12 spinning mills have closed down during the last 10 days, raising the tally of closed mills to 140, claims the All-Pakistan Textile Association (Apta)....   Foreign banks enjoy high banking spread KARACHI, July 3: Foreign banks were ahead of local banks in enjoying benefits of wider banking spread that was eight per cent in May. This explains the increased interest by foreign banks in the country.... Procedures for levying of special duty notified ISLAMABAD, July 3: The Federal Board of Revenue (FBR) has notified procedures for the levy of special excise duty on import and locally-manufactured products.... Finance Act to promote CBR’s reforms agenda KARACHI, July 3: Director General Large Taxpayers Unit (LTU), Karachi, Mukhtar Ahmad Gondal said on Tuesday that Finance Act 2007 was a step forward towards implementation of reforms agenda initiated by the Central Board of Revenue (CBR) since 2001.... Rules for supply of taxable goods ISLAMABAD, July 3: The Federal Board of Revenue (FBR) has issued special rules for supply of taxable goods and services to government departments, autonomous bodies and public sector organisations.... Oil prices ease on profit selling LONDON, July 3: World oil prices fell on Tuesday on profit-taking but the dip was likely to be brief amid strong concerns over low supplies of US motor fuel, traders said.... Govt urged to defer ST on sugar for 3 years LAHORE, July 3: The sugar industry has urged the government to take a cue from India and defer sales tax on the sweetener for 36 months beginning from July 1, 2007 to help the mills improve their cash flow.... Pound hits 26-year peak against dollar LONDON, July 3: The euro climbed close to its record high against the dollar on Tuesday while the pound hit a 26-year peak against the US currency on worries over the US housing market and interest-rate differentials, dealers said.... Sanctions hurting Iranian oil industry TEHRAN, July 3: Iran admitted on Tuesday that international sanctions imposed over its controversial nuclear programme were harming its ability to invest in oil infrastructure, the backbone of its economy.... Lal Masjid operation mars bullish sentiments at KSE KARACHI, July 3: The Lal Masjid operation on Tuesday intercepted the market’s recent upward drive as investors indulged in panic selling after reports of firing both from the seminary and the law enforcement agencies and the resultant casualties reached the market....the market.... 11.8kg LPG cylinder price up by Rs28 ISLAMABAD, July 3: The Oil and Gas Regulatory Authority (Ogra) on Tuesday increased indicative prices of liquefied petroleum gas (LPG) by six per cent with immediate effect, an Ogra announcement said.... Exports to Switzerland decline ISLAMABAD, July 3: Pakistan''s exports to Switzerland decreased by 25.59 per cent to reach 4.7 million CHF in May 2007, compared with the same month last year, official figures said.... Trade deal SEOUL, July 3: South Korean Prime Minister Han Duck-Soo on Tuesday said there should be no discrimination against foreigners after a free trade agreement (FTA) was signed with the United States.... Farm talks TOKYO, July 3: The WTO''s Group of Ten food importing countries, including Japan, have calling for wider participation in the stalled Doha Round of trade liberalisation talks on agricultural issues, a key sticking point.... Iraqi cabinet approves amended oil law BAGHDAD, July 3: Iraq’s cabinet on Tuesday approved an amended draft oil law - a key plank to help unite the country’s warring communities -- and forwarded the bill to the parliament.... Promoting Britain’sfinancial services LONDON, July 3: British Expertise and Islamic Financial System London (IFSL) have decided to establish Islamic Financial Services for Business (IFSB), said a press release issued here on Tuesday by the IFSL.... Trading gets dull on cotton market KARACHI, July 3: Dull trading conditions prevailed on the cotton market on Tuesday as spinners and mills kept to the sidelines most of the time owing to higher asking prices by the ginners.... Strong euro has modest impact on exports BRUSSELS, July 3: The soaring strength of the euro in recent years has had only a “modest” impact on exporters and their profits, the European Commission said on Tuesday.... Karachi Port operations KARACHI, July 3: Eight ships including three cement loaders are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Property market boom in Warsaw, other states PRAGUE, July 3: The urban property market is booming across ex-communist EU member states as foreign investors flood in and locals climb onto the property ladder -- even in the region''s dour concrete tower-block estates.... BD tea prices slide CHITTAGONG, July 3: The average price of Bangladesh teas fell nominally to 85.55 taka ($1.24) per kg on lower demand at the weekly auction on Tuesday, brokers said.... Malaysia, Syria explore free-trade talks KUALA LUMPUR, July 3: Malaysia and Syria plan to explore the possibility of a free-trade agreement (FTA) as the two countries strive to expand trade and investment ties, a trade minister said on Tuesday.... Consumer purchases PARIS, July 3: Flat-screen televisions sold like hot cakes in France last year but shoppers shunned new cars as overall household consumption grew by 2.1pc, the national statistics institute INSEE said on Tuesday.... Turkish inflation falls ANKARA, July 3: Consumer prices in Turkey decreased by 0.24 per cent in June from the previous month but increased by 8.60 per cent on a 12-month basis, the Turkish Statistics Institute said on Tuesday.... HK retail sales surge HONG KONG, July 3: Hong Kong’s retail sales soared in May, boosted by upbeat consumer sentiment arising from the favourable macroeconomic environment and the buoyant stock market, the government said on Tuesday.... Australia reviews APEC security SYDNEY, July 3: Australian authorities said on Tuesday they were reviewing security for a key meeting of Asia-Pacific trade ministers in Cairns after detaining an Indian doctor over failed car bombs in Britain.... European stocks rebound LONDON, July 3: Europe''s main stock markets rose strongly in early trading on Tuesday, with Frankfurt''s DAX spiking back above 8,000 points after a rally by Wall Street overnight.... Palm oil prices WASHINGTON, July 3: Paul Palm oil prices, who quit under pressure as president of the World Bank, will join the American Enterprise Institute, a conservative think tank in Washington, as a visiting scholar, AEI said on Monday.... Asian stocks rally higher HONG KONG, July 3: Asian stocks closed sharply higher on Tuesday after a rally on Wall Street overnight was triggered by improved US economic data and takeover talk....

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