DAWN - Business; July 07, 2007

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July 07, 2007	Saturday	Jamadi-us-Sani 21, 1428

Cement prices go up in Karachi KARACHI, July 6: Cement prices have climbed up in Karachi and other parts of Sindh, while these have reportedly fallen in the Punjab and other provinces....		Outsourcing of inspection services proposed: Quality fish export ISLAMABAD, July 6: The government is considering a proposal to outsourcing quality inspection services to some international agency to discourage the export of sub-standard fish and fish products....

Court orders compensation for Pfizer’s shareholders: High cost of raw material from US KARACHI, July 6: A company bench of the Sindh High Court has taken serious notice of continued losses suffered by the Pfizer Laboratories mainly because of transfer-pricing in raw material imports from its parent company, the US-based Pfizer Inc....		PSMA calls for creating 0.5m tons buffer stock LAHORE, July 6: Pakistan Sugar Mills Association (PSMA) has urged the government to build a strategic buffer stock of 500,000 tons of sugar by purchasing the commodity from mills at a...

Stocks flirting with 14,000-level KARACHI, July 6: The KSE 100-share index on Friday again crossed the barrier of 14,000 points but failed to sustain it and finished the weekend session with a fresh modest rise of 44 points on active follow-up support....		Halal food festival BEIJING, July 6: The International exhibition for “Halal Food and Muslim Commodities” to be held in Yinchuan would provide an opportunity to Pakistani traders for doing business in meat, dairy and other allied items and to explore new avenues of investment....

Oil prices hit $76 as supply fears persist LONDON, July 6: Brent North Sea crude oil climbed past $76 per barrel for the first time in almost a year on Friday, fuelled higher by unrest in Nigeria and concerns over tight US gasoline supplies....		Relief in special excise duty on steel sought ISLAMABAD, July 6: The Islamabad Chamber of Commerce and Industry (ICCI) has sought exemption of special excise duty on steel products. ICCI President Nasir Khan said in a statement on Friday...

Preparatory meetings for trade policy ISLAMABAD, July 6: The commerce ministry will finalise trade promotion proposals in a series of three inter-ministerial meetings before the announcement of the trade policy on July 17....		Discount facility for DFIs, IBs withdrawn KARACHI, July 6: The State Bank of Pakistan has barred Development Financial Institutions (DFIs) and Investment Banks (IBs) from availing its discount window facility....

Indian inflation rises NEW DELHI, July 6: India’s inflation rate jumped by a surprise tenth of a percentage point, snapping 10 straight weeks of decline, but remained at a 14-month low, official data showed on Friday....		Dollar falls despite strong US jobs data LONDON, July 6: Initial dollar gains from a strong US labour report on Friday petered out as the market appeared to stick to its long-term view that interest rates would not rise higher in the United States....

Expanding US jobs market signifies economic rebound WASHINGTON, July 6: The US economy churned out 132,000 new jobs in June and created more than estimated in April and May, government data showed on Friday, signalling solid growth despite a struggling housing market....		Bullish trend on cotton market KARACHI, July 6: Cotton market on Friday maintained a bullish outlook as supply concerns continued to worry spinners and mills amid fears of a fresh price flare-up....

Consultants to conduct study for PIDC KARACHI, July 6: Internationally reputable consultants will be appointed for conducting a study for development of infrastructure for transportation and storage of imported coal in the coastal areas of Pakistan....		China keen in Pakistan’s auto sector ISLAMABAD, July 5: The Dong Feng Automobile Company of China has shown interest in entering into joint venture with the Pakistan Automobile Company (Paco). This was stated by a delegation of...

Karachi Port operations KARACHI, July 6: Five ships carrying containers and to load cement are due to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was...		IGI Funds bonus KARACHI, July 6: IGI Funds Limited (IGIFL), the asset management arm of the IGI Financial Services and Packages Group, announced bonus distribution for its open-end-fund, the IGI Income Fund (IGIIF)....

Canada labour market expands OTTAWA, July 6: An estimated 35,000 jobs were added in Canada in June, following little change in the previous two months, Statistics Canada said on Friday, adding pressure on the Bank of Canada to hike interest rates soon....		Swiss unemployment GENEVA, July 6: Switzerland’s unemployment rate hit its lowest level for five years in June, at just 2.5 per cent, the State Secretariat for Economic Affairs (SECO) said on Friday....

Freighter routes KARACHI, July 6: BA World Cargo has launched two new weekly Boeing 727 freighter routings from Pakistan....		Rating KARACHI, July 6: JCR-VIS Credit Rating Company Limited has upgraded the medium to long-term entity rating of Allied Bank Limited (ABL) to ‘AA-‘ (Double A minus)....

Dividend KARACHI, July 6: The board of directors of HBL Asset Management Limited (the management company) for HBL Income Fund in its meeting announced dividend payout in the form of bonus units...		Asian stocks mostly higher HONG KONG, July 6: Asian stocks closed mostly higher on Friday with investors consolidating their positions on local issues after Wall Street failed to deliver a solid overnight lead....

Malaysian palm oil rises KUALA LUMPUR, July 6: Malaysian crude palm oil futures ended 1.5 per cent higher on Friday as prices of rival soybean oil jumped in electronic trading and players covered positions ahead of the weekend....		European shares move up LONDON, July 6: Europe''s main stock markets climbed higher on Friday as the oil sector was energised by soaring crude prices, dealers said. London''s FTSE 100 index of leading shares rose 0.42...

Gold steady LONDON, July 6: Gold was steady on Friday ahead of the release of key data about job creation in the United States, which could move the dollar and in turn shift gold prices....		WTO talks GENEVA, July 6: Brazilian Foreign Minister Celso Amorim said on Friday that developing countries were largely on the same wavelength in deadlocked global trade talks....