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July 14, 2007 Saturday Jamadi-us-Sani 28, 1428 Trade gap up by 12.8pc in 2006-07 ISLAMABAD, July 13: Pakistan’s trade deficit widened to highest ever $13.54 billion in the outgoing fiscal year 2006-07, up by 12.83 per cent or ($1.54 billion) from $12 billion recorded during the same period last year.... Trade policy proposals discussed ISLAMABAD, July 13: Increase in exports is a major mechanism to drive the economy, earn foreign exchange and generate employment, said Prime Minister Shaukat Aziz while chairing a meeting to review...   Better working conditions a dream for labour force KARACHI, July 13: Pakistan’s 50 million labour force is yet to see an improvement in their quality of life, working conditions and wages despite an annual growth rate of seven per cent in the last four years.... Oil prices close to all-time high LONDON, July 13: The price of London’s Brent oil jumped close to $78 on Friday, nearing an all-time high point as crude futures were buoyed by speculative buying amid tight US fuel supplies, analysts said.... Bull-run continues on stock market KARACHI, July 13: The share market finished the weekend session on a bullish note as investors maintained their mopping operations aided by heavy foreign buying in oil shares under the lead of OGDC on reports of new oil exploration rights.... Bumper mango crop brings no benefit for consumers KARACHI, July 13: Mango —the king of fruits — is now in an over-supply position in the markets because of bumper crop of 1.7 million tons.... Opec output in June RIYADH, July 13: Opec’s crude production in June was considerably higher than its output ceiling, Platts said in its latest survey. The 10 members of the Organisation of Petroleum Exporting Countries... Euro strikes record high LONDON, July 13: The euro shot up over 1.38 dollars here on Friday for the first time since its creation in 1999, as weaker-than-expected retail sales in the United States compounded concerns about the country''s economy.... Unisame urges PS to boost production KARACHI, July 13: Iron and steel traders have urged the government to look into the looming problem of acute shortage of steel products, which may hamper construction activity in the country.... SECP board meets today ISLAMABAD, July 13: The Securities and Exchange Commission of Pakistan’s policy board will meet on Saturday to discuss, among their issues, the SECP reforms plan. The meeting will also discuss the... ECO bank ISLAMABAD, July 13: Adviser to the Prime Minister on Finance, Revenue, Economic Affairs and Statistics Dr. Salman Shah, has been elected chairman of the ECO Trade and Development Bank which has its headquarters in Istanbul.... Producing electricity from LPG for home use ISLAMABAD, July 13: The Ministry of Petroleum and Natural Resources is studying the possibilities of producing electricity from Liquefied Petroleum Gas (LGP) for domestic use to mitigate the sufferings of people during long duration power outages.... Pact signed for 225-MW power plant ISLAMABAD, July 13: The implementation agreement for setting up a 225-MW power plant —Saif Power Ltd — in Sahiwal was signed here on Friday at Private Power Infrastructure Board (PPIB).... Bank takeover THE HAGUE, July 13: A bid by British bank Barclays to snap up Dutch giant ABN Amro got a major boost on Friday from a court ruling that clouds the future... US retail sales fall amid ongoing housing woes WASHINGTON, July 13: US retail sales -- a crucial driver of economic growth -- fell by the biggest margin in almost two years in June as American consumers cut their spending amid a persistent housing slump, the government said on Friday.... Prices rule firm on cotton market KARACHI, July 13: After having risen sharply higher during the last couple of sessions, cotton prices were firmly held at their current peak levels but spinners took a breather before resuming fresh buying.... Cold response from Canada irks Chinese oil firms OTTAWA, July 13: Chinese companies coveting Canada’s oil patch are unhappy about the chilly reception they are getting from Ottawa, a top Chinese oil executive told media on Friday, after withdrawing from a Canadian pipeline project amid delays.... ‘Japanese duties on Korean chip unlawful’ GENEVA, July 13: The World Trade Organisation on Friday ruled that Japan’s punitive tariffs on imports of semiconductors made by South Korean firm Hynix were illegal.... China launches silk market crackdown BEIJING, July 13: A notorious Beijing counterfeit-goods emporium has ousted 150 merchants in its latest anti-piracy sweep, state media said on Friday, but fake goods with foreign brand names remained openly available.... Thailand to curb soaring baht BANGKOK, July 13: Thailand''s Prime Minister Surayud Chulanont on Friday vowed to tackle the volatile baht, which hit 10-year highs against the dollar, but downplayed its impact on the economy.... Karachi Port operations KARACHI, July 13: Four vessels carrying containers, crude oil and to load cement are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, July 13: Five ships carrying containers chemicals and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Friday.... South Korea expects quick FTA with EU SEOUL, July 13: South Korean President Roh Moo-Hyun called on Friday for a quick free trade deal with the European Union, describing it as another golden opportunity to make the Korean economy more competitive.... Paris show for China’s garment makers PARIS, July 13: China''s clothing industry makes a debut appearance in Paris next September, with around 150 companies teaming up for a special trade fair in the world''s fashion capital.... Switzerland cancels Cameroon’s 75pc debt GENEVA, July 13: Switzerland on Friday announced the cancellation of about three quarters of the debt owed by Cameroon for official Swiss loans. The Swiss economics ministry said the two countries... Asian stocks higher HONG KONG, July 13: Asian stocks rallied sharply higher on Friday after Wall Street notched-up its strongest daily performance in almost four years for another record finish.... European stocks advance LONDON, July 13: Europe''s equity markets rallied on Friday, with Frankfurt''s DAX 30 index of top shares hitting a historic record above 8,150 points after Wall Street soared overnight, dealers said.... Palm oil prices up KUALA LUMPUR, July 13: Malaysian crude palm oil futures ended at one-month highs on Friday, after prices of rival soybean oil rose due to lower US government estimates for soybean reserves.... Karachi market rates KARACHI, July 13: The following were Friday’s commodity market rates in rupees.... Conversion rates KARACHI: The following are July 14 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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