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July 10, 2007 Tuesday Jamadi-us-Sani 24, 1428 Record rise in cigarette production KARACHI, July 9: Cigarettes consumption is falling in most countries of the world but in Pakistan both production and consumption of this ‘silent killer’ is increasing at an alarming rate.... Textile sector urged to become cost effective KARACHI, July 9: Federal Textile Minister Mushtaq Ali Cheema has advised textile manufacturers-cum-exporters to check wastage of inputs at different production lines to become cost efficient and competitive in the world market....   Stocks manage to sustain gains above 14,000-level KARACHI, July 9: The KSE 100-share index on Monday managed to settle above the psychological barrier of 14,000 at 14,019.05 points, but analysts said its base above the target was too... Ahmadinejad says no to extra petrol TEHRAN, July 9: Iranian President Mahmoud Ahmadinejad said on Monday that any sales of petrol outside a rationing plan would fuel already-rampant inflation, state news agency IRNA reported.... ST payment procedures for steel industry ISLAMABAD, July 9: The Federal Board of Revenue (FBR) has notified special procedures for payment of sales tax by steel melters, re-rollers and shipbreakers. These rules were notified through a sales... Russia to begin work on China oil pipeline MOSCOW, July 9: Construction work will begin next year on a much-anticipated pipeline to deliver crude oil directly from Siberia to China, Russia’s energy minister said on Monday, according to news reports.... Post 9/11 security cost Canada $2.5bn OTTAWA, July 9: Stringent US and domestic security measures implemented since the September 11, 2001 attacks in the United States cost the Canadian transport industry almost US$2.5bn, media said on Monday.... Sweetener wholesale prices climbing KARACHI, July 9: The sugar prices in the wholesale market crawled up to Rs27.80 per kg on Monday, from Rs25.50 per kg on Saturday, as millers are reported to have curtailed supplies to the market.... Moratorium sought on debt repayment for textile KARACHI, July 9: President of the Federation of Pakistan Chambers of Commerce and Industry Tanvir Ahmad Sheikh has sought two-year moratorium on debt servicing to banks for the textile sector because of the acute financial hardships and other business problems.... Reduction in time for holding AGM opposed LAHORE, July 9: The All Pakistan Textile Association (Apta) says certain changes brought about in the budget like reduction in time for holding AGM are proving to be a problem for the industry.... Oil prices drop LONDON, July 9: World oil prices fell on Monday after rebels in key energy producer Nigeria freed a three-year old British girl. The kidnapping last week of Margaret Hill, along with... Vietnam’s trade deficit HANOI, July 9: Vietnam''s trade deficit this year is forecast to reach $8 billion as demand for machinery, equipment and raw materials remains strong, an official report said on Monday.... New rules for computing sales tax notified ISLAMABAD, July 9: The Federal Board of Revenue (FBR) has issued new rules for the computation of sales tax on commercial importers, stevedores and manufacturers of snacks.... Lint prices hit fresh peak on panic buying KARACHI, July 9: Trading on the cotton market on Monday resumed on a bullish note as prices rose further higher by Rs100 per maund amid light trading.... ‘Success hinges on strong growth’: Equity sector LONDON, July 9: Global credit rating service Moody’s on Monday said the performance of the debt-laden private equity sector would depend on stable global economic growth and low interest rates.... Egyptian bank put for sale CAIRO, July 9: Egypt agreed on Monday to offer 80 per cent of the country’s third largest public sector bank, Banque du Caire, to a strategic investor in a major step... EU unlikely to decide on next IMF chief today BRUSSELS, July 9: EU finance ministers are unlikely to decide at a meeting on Tuesday on a candidate to head the International Monetary Fund, a diplomat with the EU’s Portuguese presidency said on Monday.... Karachi Port operations KARACHI, July 9: Eight ships carrying containers, rock phosphate and coal and to load ethanol are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Currencies range-bound LONDON, July 9: Major currencies traded within narrow ranges here on Monday as the market looked ahead to significant economic data later in the week, dealers said.... Energy deal MOSCOW, July 9: State-controlled Rosneft, Russia’s biggest oil producer, and British-Dutch energy major Shell signed a deal on Monday to cooperate in Russia and third countries, Rosneft said in a statement.... Poultry rates KARACHI, July 9: The following are Tuesday’s poultry market rates: EGGS: Rs1,200 to Rs1,205 per crate of 30 dozens, Broiler (Live): Rs62 per kilo; Culled Bird (Live): Rs36 per kilo.... Asian stocks higher HONG KONG, July 9: Asian stocks closed higher on Monday, with more records tumbling, with investors picking up on a solid US employment report to signal the US economy has got... Malaysian palm oil lower KUALA LUMPUR, July 9: Malaysian crude palm oil futures edged 0.4 per cent lower on Monday on anxieties that demand from key buyers was weakening due to high prices.... European shares advance LONDON, July 9: Europe''s main stock markets rallied on Monday after Tokyo''s main equity index hit a fresh seven-year high following a positive end to last week in the United States.... Gold firms in Europe LONDON, July 9: Gold rose on Monday, aided by firm oil and base metals prices and a weaker dollar, but the precious metal needs to regain $660 an ounce to prove... Pact ratification WASHINGTON, July 9: President George W. Bush on Monday urged the Democrat-held US Congress to ratify the US-Peru free trade pact before lawmakers go on their August recess....

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