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July 18, 2007 Wednesday Rajab 02, 1428 Private sector consumes 25 per cent less credit KARACHI, July 17: Despite huge liquidity in the banking system, credit to private sector remained much lower than last year and was 25 per cent less than the target set for 2006-07.... Govt plans to set up special zone in Lahore ISLAMABAD, July 17: The government is finalising a proposal to set up a special industrial zone (SIZ) for overseas Pakistanis at Lahore with an incentive of tax holiday....   Humayun unveils trade strategy today KARACHI, July 17: After witnessing a record deficit of more than $13.5 billion in 2006-07 mainly because of sluggish exports and a massive import bill, Federal Commerce Minister Humayun Akhtar Khan is unveiling international trade strategy for 2007-08 on Wednesday.... Tax-to-GDP ratio to be raised to 15.5pc by 2017 ISLAMABAD, July 17: The collection of general sales tax (GST) has declined from electricity, natural gas, cement and motor cars during the year 2006-07 over the same period of last year.... Stocks recover overnight losses KARACHI, July 17: Stocks on Tuesday shrugged off the overnight easiness as investors covered positions at the lower levels followed by reports of relative calm on the law and order front but the underlying sentiment was still shaky.... Cooking oil, ghee prices jump by Rs32 per 5 litre/kg pack KARACHI, July 17: Consumers are set to receive another pre-Ramazan shock as a leading packer has further increased the rate of 5-litre cooking oil and 5-kg ghee tins by Rs32.... Sweetener retail price rises to Rs35 a kg ISLAMABAD, July 17: The average retail price of sugar has crawled up to Rs35 per kg from Rs29 per kg during the last few weeks. Currently, the retail prices of the... OMX vying for stake in Karachi bourse KARACHI, July 17: Nordic and Baltic bourse owner OMX has shown interest in buying a stake in Pakistan''s main bourse, the Karachi Stock Exchange (KSE), due to be listed by the year-end, the country''s chief regulator said on Tuesday.... US producer prices fall in June WASHINGTON, July 17: A big drop in gasoline prices pulled US producer prices down in June but a closely watched measure of core inflation rose at a pace likely to keep concerns about inflation on policy-makers’ minds.... Gas deals BEIJING, July 17: China signed deals on Tuesday to produce and import natural gas from Turkmenistan, a major step in the realignment of the resource-rich central Asian country away from its former rulers in Russia, a news report said.... Oil price soars above $75 LONDON, July 17: Oil prices in New York surged higher on Tuesday, supported by tight US gasoline supplies, North Sea maintenance and geopolitical tensions, traders said.... Pound hits new 26-year high LONDON, July 17: The British pound struck a fresh 26-year high against the dollar on Tuesday while the euro hovered around its record peak against the US currency.... Strategy to raise private sector competitiveness ISLAMABAD, July 17: Adviser to the prime minister on Finance Salman Shah has said that efforts are underway to devise a comprehensive strategy to enhance the competitiveness of the private sector.... Brisk buying activity on cotton market KARACHI, July 17: Active trading was witnessed on the cotton market on Tuesday as mills and spinners lifted all the new crop lots offered by the ginners of both Sindh and Punjab.... Chinese parliament cautions on overheating BEIJING, July 17: China’s economy is showing increasing signs of overheating, underscoring the need for policymakers to be vigilant in the months ahead, a sub-committee of the parliament said on Tuesday.... Dutch firm to buy Lyondell NEW YORK, July 17: The Dutch chemical group Basell Holdings will buy US rival Lyondell Chemical Co., one of the world’s largest chemical companies, in a deal worth about $19 billion, the companies said on Tuesday in a joint statement.... Karachi Port operations KARACHI, July 17: Eight ships carrying containers, crude oil and wheat are due to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity at the wharves was... Port Qasim KARACHI, July 17: Normal shipping activity was witnessed at the port where three ships carrying containers and diesel oil were accommodated on berths at QICT and Fotco oil terminal, respectively, during the last 24 hours, says a PQA press release.... Crucial attempt to break Doha deadlock GENEVA, July 17: The WTO launched a crucial bid to break the deadlock in the Doha Round of global trade talks on Tuesday with new proposals that advocate sharp cuts in US farm support and in developing country industrial import duties.... Costly oil fails to dampen global growth LONDON, July 17: The world economy is bounding ahead, largely unaffected by record high crude oil prices, which have quadrupled over the past six years, economists say.... India festival opens LONDON, July 17: London Mayor Ken Livingstone blamed India''s past economic problems on the “long, dark night of imperialism” on Tuesday as he launched a major festival to strengthen ties with the now booming country.... Asian stocks higher HONG KONG, July 17: Asian stocks closed mixed with an upward bias on Tuesday as bargain hunters emerged in the wake of recent selling and another record close on Wall Street overnight.... Palm oil prices lower KUALA LUMPUR, July 17: Malaysian crude palm oil futures fell 0.9 per cent on Tuesday, pressured by losses in rival soybean oil and rising production. The benchmark October contract on the Bursa Malaysia Derivatives Exchange fell 23 ringgit, or 0.9... Gold slips LONDON, July 17: Gold erased overnight gains to slip on Tuesday, with dealers avoiding big moves ahead of testimony by US Federal Reserve Chairman Ben Bernanke later in the week.... European stock markets fall LONDON, July 17: Europe''s main stock markets sank on Tuesday, with the mining sector taking a hit from weak metals prices after a mixed overnight US showing, dealers said.... Karachi market rates KARACHI, July 17: The following were Tuesday’s commodity market rates in rupees.... Port talks LOS ANGELES, July 17: A strike does not appear imminent at the ports of Los Angeles and Long Beach as negotiations between clerical workers and shippers near settlement on a new contract, according to both sides.... Conversion rates KARACHI: The following are July 18 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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