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July 17, 2007 Tuesday Rajab 01, 1428 Pakistan gets record $5.493bn remittances KARACHI, July 16: Pakistan received the highest ever amount of more than $5.493 billion as workers’ remittances during the last fiscal year 2006-07. According to the SBP, never before in the history of Pakistan, the country received more than $4.6... Apparel sector calls for incentive package KARACHI, July 16: The apparel industry has warned the policy-makers of the adverse impact on domestic textile industry of the recently announced Indian government’s export package for its textile industry....   Increase in pulses prices perturbs consumers KARACHI, July 16: With only seven weeks remaining in the Ramazan, consumers have already started facing the brunt of fresh increase in the price of pulses, especially gram, followed by a Rs2 per litre increase in fresh milk prices.... Govt decides to replace FTI with TCIP ISLAMABAD, July 16: The government is likely to replace Foreign Trade Institute (FTI) with Trade Competitiveness Institute of Pakistan (TCIP) for carrying out policy research studies for enhancing the country’s exports.... Stocks plunge on suicide attacks on law enforcers KARACHI, July 16: The KSE 100-share index on Monday plunged by two per cent on panic-selling triggered by reports of suicide attacks on security forces during the last two days which claimed dozens of lives.... Oil price flirts with all-time record LONDON, July 16: The price of London’s Brent North Sea crude oil soared close to a record high above $78 on Monday amid frenzied speculative buying and concerns over tight US fuel supplies.... Govt’s assurance to spinners LAHORE, July 16: The Prime Minister’s advisor on finance and economic affairs, Dr Salman Shah, has assured spinners of positively considering their proposals to steer the spinning sector out of the current crisis.... FBR chief for check on illegal imports ISLAMABAD, July 16: Federal Board of Revenue Chairman M. Abdullah Yusuf on Monday admitted that the Customs Department was facing the menace of under-invoicing and mis-declaration resulting into massive revenue loss to the kitty.Chairing... Revenue collection up by Rs6bn in 2006-07 ISLAMABAD, July 16: The revenue collection increased to Rs841.4 billion during the outgoing fiscal year 2006-07 as against the target of Rs835 billion, indicating a growth of 6.4... Aptma draws attention on Indian package KARACHI, July 16: The acting chairman of All Pakistan textile Mills Association (Aptma) Iqbal Ibrahim has drawn the government’s attention towards an export package recently announced by the Indian Commerce Minister... PCB may approve NBP GDS in next meeting ISLAMABAD, July 16: The Privatisation Commission Board (PCB) is expected to meet on Monday next to approve issue of global depository shares (GDS) of National Bank of Pakistan in the international market.... US aims to seal FTA with Malaysia KUALA LUMPUR, July 16: The United States is aiming to seal a free trade agreement with Malaysia by June next year, a top official said on Monday after both sides missed a crucial deadline to fast-track the agreement.... Prices move higher on cotton market KARACHI, July 16: Prices on the cotton market on Monday were quoted further higher by Rs25 but physical business remained dull as spinners were worried over their export parity levels.... ICMAP exam results KARACHI, July 16: The national council of Institute of Cost and Management Accountants of Pakistan has announced the result of ICMAP Spring (Summer) 2007 examinations.... Karachi Port operations KARACHI, July 16: Seven ships carrying containers, phosphate and to load molasses are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, July 16: Four ships carrying containers, furnace oil and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Monday Meanwhile, three more container ships also arrived at the outer anchorage.... Growers reject 2pc increase in tobacco price SWABI, July 16: Growers of Charsadda and Swabi have threatened to stop sale of tobacco if talks with the Pakistan Tobacco Board (PTB) failed to resolve the pricing issue.... Asian stocks close lower HONG KONG, July 16: Asian stocks closed lower on Monday with investors anxious to cash-up on the latest rally which sent many markets to record or multi-year highs.... European shares firm LONDON, July 16: Europe''s main stock markets mainly rose on Monday as investors seized on the latest developments in the multi-billion-euro takeover battle for control of Dutch lender ABN Amro, dealers said.... Palm oil prices KUALA LUMPUR, July 16: Malaysian crude palm oil futures ended 1.7 per cent lower on Monday as prices of rival soybean oil fell and estimates from a cargo surveyor showed weakening exports, traders said.... LPG prices up LAHORE, July 16: Liquid petroleum gas (LPG) marketing companies have increased the price of domestic cylinder by Rs24.... Euro rises LONDON, July 16: The euro was broadly unchanged against the dollar on Monday, with traders weighing up eurozone inflation data and a strong manufacturing survey for the New York area.... Clarification ISLAMABAD, July 16: The Securities and Exchange Commission of Pakistan (SECP) has said that its policy board discussed a proposal for increase in the salary of the commission supporting staff, but... Conversion rates KARACHI: The following are July 17 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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