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July 21, 2007 Saturday Rajab 05, 1428 Outflows nullify foreign investment: Telecom sector KARACHI, July 20: The outflow of foreign exchange for import of mobile phones and other apparatus has almost neutralised the impact of foreign investment made in the telecommunication sector in the last fiscal year.... Aptma calls for more steps to resolve crisis KARACHI, July 20: The All Pakistan Textile Mills Association (Aptma) has expressed the hope that the measures announced by Commerce Minister Humayun Akhtar Khan will ensure long-term benefit to Pakistan’s export trade....   Investors relaxed over apex court’s decision KARACHI, July 20: Business in Pakistan does not share the enthusiasm of legal fraternity, opposition and the people but views the Supreme Court decision in a positive light.... WB chief, India back new formula for WTO deal WASHINGTON, July 20: World Bank president Robert Zoellick backed on Friday fresh proposals to drive the deadlocked round of World Trade Organisation negotiations to a conclusion this year.... Stocks stage partial recovery KARACHI, July 20: The KSE 100-share index on Friday resisted fresh decline as bulls made strong selective buying at the lower levels on almost all the blue chip counters on the... Oil hits 11-month peak LONDON, July 20: The price of New York crude struck a fresh 11-month high point on Friday, above $76 a barrel, owing to tight US supplies, while London''s Brent oil traded close to its historic high.... UK economic growth improves to 0.8pc LONDON, July 20: Britain’s economic growth picked up slightly in the second quarter of 2007, official data showed on Friday, but analysts forecast slower expansion later this year owing to recent interest rate hikes.... Trade urged to acquire knowledge about IPR ISLAMABAD, July 20: The acquisition of knowledge about WTO’s Intellectual Property Rights (IPR) is a dire need for rising to the occasion in the multilateral trading system.... Thailand PM agrees to weaken baht BANGKOK, July 20: The Thai prime minister on Friday agreed on new measures aimed at curbing the baht’s rise, while the central bank governor insisted the country would not return to a fixed exchange rate system.... High yarn prices to damage exports KARACHI, July 20: The value-added textile sector has asked the government to take measures to check the rapidly rising prices of yarn and auxiliaries, which would badly damage exports particularly when the sector is already faced with high utility costs.... Euro hits new peak against dollar LONDON, July 20: The European single currency soared to a new record high against the dollar on Friday as the US currency continued to be undermined by housing market worries.... Indian inflation NEW DELHI, July 20: India''s inflation rate was unchanged despite sharp fluctuations in some staple foods, official data showed on Friday. Inflation came in flat at 4.27... China plans bond issue SHANGHAI, July 20: China finance ministry has the green light to sell a first batch of government bonds in a planned special issue worth 1.55 trillion yuan ($205bn), state press reported on Friday.“The... HK inflation HONG KONG, July 20: Inflation in Hong Kong rose to 1.3 per cent in June from 1.2 per cent in May as pork prices increased due to supply shortages, official figures showed on Friday.... Listless trading on cotton market KARACHI, July 20: Trading activity on the cotton market on Friday remained insipid owing to closure of the central Punjab markets for official weekend. But stray lots did change hands in... China hikes lending rates after rapid economic growth BEIJING, July 20: China’s central bank announced on Friday it will raise interest rates for the third time this year in an effort to cool -- but not stop -- an... Royal Bank to present offer for ABN Amro LONDON, July 20: A European banking consortium led by Royal Bank of Scotland will present a formal takeover offer for Dutch bank ABN Amro on Monday, the chairman of ABN said on Friday.... Iraq praised BAGHDAD, July 20: The United Nations said on Friday that Iraq’s beleaguered government had made good progress in living up to promises it made international donors in exchange for a deal on development aid.... Karachi Port operations KARACHI, July 20: A dozen ships carrying containers, chemicals and to load cement are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, July 20: Two ships carrying containers and edible oil were accommodated berths at the QICT and MPT during the last 24 hours, said a PQA press release on Friday.... Removal of tariff anomaly to FMCs sought ISLAMABAD, July 20: A local manufacturer of Farm Milk Chillers (FMCs) has approached the National Tariff Commission (NTC) seeking removal of tariff anomaly pertaining to the FMCs.... Citigroup earns record quarterly profit NEW YORK, July 20: Financial colossus Citigroup Inc. unveiled a better-than-expected record quarterly profit of $6.23 billion on Friday as its coffers overflowed with lucrative earnings from its investment banking and global operations.Citigroup... Slovenia Consulate KARACHI: July 20: The Republic of Slovenia set up its Honorary Consulate in Karachi effective from June 18, 2007, says a press release. Slovenia, a member of the European Union, has... Asian stocks higher HONG KONG, July 20: Asian stocks closed sharply higher on Friday, chalking up a series of record finishes on the back of Wall Street''s lead as concerns about possible further economic tightening measures in China faded, dealers said.... European shares mixed LONDON, July 20: Europe''s main stock markets were mixed by the half-way stage on Friday after Wall Street had surged overnight. London''s FTSE 100 index of leading shares rose by 0.25... Malaysian palm oil up KUALA LUMPUR, July 20: Malaysian crude palm oil futures climbed 0.8 per cent on Friday, helped by firmer prices of rival soybean oil and brisk buying ahead of the weekend.... Karachi market rates KARACHI, July 20: The following were Friday’s commodity market rates in rupees.... Company news ATLANTA: Whirlpool Corp., the world’s biggest appliance maker, posted a 77 per cent jump in quarterly profit on Friday as improved international results and a lower tax rate helped offset US weakness....

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