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July 20, 2007 Friday Rajab 04, 1428 Oil and gas production prices up by 6-8pc: New energy policy ISLAMABAD, July 19: Pakistan, under a new five-year energy policy announced on Thursday, increased oil and gas production prices by 6-8 per cent on new discoveries the petroleum exploration and development companies would make from now on.... Working group for export of farming tools ISLAMABAD, July 19: The Engineering Development Board (EDB) has constituted an eight-member working group to formulate a strategy for the export of agricultural machinery and implements....   Trade policy focuses on creating export surplus ISLAMABAD, July 19: Commerce Minister Humayun Akhtar Khan said on Thursday measures taken in Trade Policy 2007-08 would help achieve the ambitious export target of $19.2... 4th round of trade talks with India on 31st NEW DELHI, July 19: The 4th round of Pak-India talks on economic and commercial cooperation under composite dialogue will commence here on July 31.... Share prices plunge on fresh violence KARACHI, July 19: The KSE 100-share index on Thursday took another massive plunge as bear onslaught continued in the form of panic-selling followed by reports of fresh bomb blasts, pushing the KSE 100-share index lower by 466.47... Oil prices firm on tight supplies LONDON, July 19: The price of crude oil in New York hit a fresh 11-month high point on Thursday, and Brent traded close to its all-time peak, as traders tracked concerns over tight US energy supplies.... PIA chief rules out immediate sell-off KARACHI, July 19: Chairman Pakistan International Airlines (PIA) Zaffar A. Khan has said that even though the Council of Common Interests (CCI) has approved the national flag carrier’s privatisation, he does not see an immediate implementation in this regard.... US economic activity worsening WASHINGTON, July 19: A broad measure of future US economic activity posted a worse than expected decline in June amid a widespread downturn in the US housing market, the Conference Board said on Thursday.... Chinese firms sign $300m import contracts ISLAMABAD, July 19: Private firms have signed mutual agreements worth around $300 million for exporting Pakistani products to China. The agreements were signed at a function organised by the Federation... Export to China will increase by $1bn under FTA ISLAMABAD, July 19: Pakistan’s exports to China will increase by $1 billion under the Free Trade Agreement (FTA), which has become operational from July 1 between the two countries.... New Russian rules for foreign investment MOSCOW, July 19: A long-awaited bill regulating foreign investment in Russia will set rules for 39 “strategic sectors” while giving the secret service veto power over deals, Russian newspapers said on Thursday.... KSE submits proposal on review of CFS limit KARACHI, July 19: The Karachi Stock Exchange (KSE) submitted a proposal on CFS limit review along with the criteria for selection of eligible securities to the Securities and Exchange Commission of Pakistan (SECP) at a meeting on Thursday.... Euro trades close to fresh dollar record LONDON, July 19: The euro soared close to a fresh record against the dollar on Thursday as the US currency came under heavy pressure on fears for the health of the US economy.... Chinese economy expands by 11.9pc: Cooling measures urged BEIJING, July 19: China’s economy expanded at its fastest pace in over a decade in the second quarter, data showed on Thursday, raising expectations authorities will act quickly but not severely to stop overheating.... Cotton prices maintain firm outlook KARACHI, July 19: Cotton market on Thursday maintained a firm outlook as pressure on supplies kept prices on the higher side amid light trading. Market sources said the mill demand was... FBR chief urges staff to tap real tax potential ISLAMABAD, July 19: Chairman Federal Board of Revenue (FBR) Abdullah Yousuf on Thursday urged the tax managers to adopt professional approach to achieve Rs1.025 trillion revenue target set for the current fiscal year.... ‘Policy shift won''t solve China trade imbalance’ WASHINGTON, July 19: A change in currency policy will not by itself resolve the big trade imbalance between the United States and China, with further economic reforms needed, Federal Reserve chairman Ben Bernanke said on Thursday.... UK public sector’s borrowing increases LONDON, July 19: British public sector net borrowing worsened in June, official data showed on Thursday in a piece of bad news for new finance minister Alistair Darling, analysts said.... Sialkot businessmen criticise trade policy SIALKOT, July 19: The business leaders of Sialkot have strongly reacted to the Trade Policy 2007-08 which they claimed has not offered a single incentive for development of trade and industry and boosting exports.In... Asian stocks close up HONG KONG, July 19: Asian stocks closed mostly higher on Thursday in cautious trade with investors remaining mindful of stresses in the United States and Chinese economies.... Malaysian palm oil lower KUALA LUMPUR, July 19: Malaysian crude palm oil futures fell 1.7 per cent on Thursday, weighed down by a drop in rival soybean oil prices and worries that exports may not pick up this month as widely expected.... European stocks recover LONDON, July 19: Europe''s main stock markets rebounded on Thursday in the wake of a recovery for Japanese share prices. London''s FTSE 100 index of leading shares rose 0.91... Gold hits 6-week high LONDON, July 19: Gold hit a new six-week high on Thursday, boosted by firm oil prices and a weaker dollar that traded just above a record low against the euro.... Karachi market rates KARACHI, July 19: The following were Thursday’s commodity market rates in rupees.... Company news WASHINGTON: US banking titan Bank of America said on Thursday its latest quarterly profit rose by more than expected to $5.76 billion, but said it had also set aside more cash for increased credit losses.... Reserves KARACHI, July 19: Pakistan’s foreign exchange reserves rose by $16.6 million to $15,645 million on July 14, 2007....

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