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July 24, 2007 Tuesday Rajab 08, 1428 Millers jack up fine atta prices KARACHI, July 23: While flour millers in Sindh want quick release of wheat from the government stocks before Ramazan, some millers have already pushed up the rates of 10-kg fine atta bag to Rs170 from Rs160.... EU gains strong position in WTO talks BRUSSELS, July 23: EU trade chief Peter Mandelson said on Monday that the 27-nation bloc had gained a “strong position” in WTO free-trade talks after new proposals were made last week to break six-years of deadlock....   Plan to bring one million more under tax net: Poor tax-to-GDP ratio KARACHI, July 23: The Regional Tax Office (RTO), Karachi, has chalked out a plan to bring more people in the tax net as it believes that there are 1.597... Pakistan may cut farm tariffs by 36 per cent ISLAMABAD, July 23: Pakistan is likely to accept cuts in its tariff by maximum 36 per cent on agriculture products under the current round of Doha Development Agenda (DDA), says a Pakistani trade diplomat.... KSE 100-share index recovers another 309 points KARACHI, July 23: The share market on Monday remained in a bullish frame of mind followed by fresh strong short-covering by the financial institutions in the banking, oil and cement shares aided partly by reports of higher corporate earnings.... Oil prices fall as Opec hints output hike LONDON, July 23: World oil futures slid on Monday after reports that the Organisation of Petroleum Exporting Countries could raise its crude output amid near record-high energy prices, analysts said.... Passco to issue Rs10bn Islamic bond this year KARACHI, July 23: The state-run Pakistan Agricultural Storage and Services Corporation (Passco) will issue Rs10 billion ($165.67 million) Islamic bond (sukuk) in the domestic market later this year, a government official said on Monday.... Euro hits new peak against dollar LONDON, July 23: The high-flying euro jumped to a new record against the dollar on Monday on fears that a downturn in the US housing market could infect the broader economy.... Spinners threaten to close down mills LAHORE, July 23: The All Pakistan Textile Association (APTA) has decided to close down mills from Aug 5 and hold protest rally outside the Presidency in Islamabad if the demands of the spinners are not accepted.... Potato output rises by 57pc in 2006-07 ISLAMABAD, July 23: Pakistan is self-sufficient in potatoes production for household consumption and depends 99 per cent on locally produced seeds for production of potatoes.... 12pc growth target for textile exports KARACHI, July 23: Federal Minister for Textile Industry Mushtaq Ali Cheema said on Monday that the government had fixed a growth target of 12 per cent for textile exports during the current fiscal 2007-08.... China, Singapore join Barclays’ bid for ABN Amro LONDON, July 23: The mammoth European battle for ABN Amro stretched to Asia on Monday, as Britain’s Barclays won financial firepower from China and Singapore to strengthen its takeover bid for the Dutch bank.... Active buying on cotton market KARACHI, July 23: Trading on the cotton market on Monday resumed on a steady note as pent demand both from the spinners and mills figured prominently.... S. Korea, India to discuss tariff cuts SEOUL, July 23: South Korea and India will discuss proposed tariff cuts during another round of talks this week on a planned free trade deal, the South Korean government said on Monday.... Karachi Port operations KARACHI, July 23: Four ships carrying soyabean oil and cars are due to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was fairly... Port Qasim KARACHI, July 23: Five ships carrying containers, edible oil, crude oil, chemicals and iron ore were accommodated berths at QICT, MPT, Fotco Terminal, EVT and IOCB during the last 24 hours, said a PQA press release on Monday.Meanwhile,... German growth slowed FRANKFURT, July 23: Growth of the German economy, the biggest in the 13-country eurozone, slowed in the second quarter because of a slight lull in the construction sector, the Bundesbank said in its monthly report on Monday.... Pension for farmers raised in Taiwan TAIPEI, July 23: Taiwan''s parliament has approved a 75.9 billion dollars ($2.31 billion) special budget for infrastructure development this year, officials said on Monday. “The 75.9... Malaysia opposes banks’ merger KUALA LUMPUR, July 23: Malaysia will not push the country''s nine banks to merge after a prominent banker suggested consolidation would make the sector more competitive, a top minister said on Monday.... Taiwan jobless TAIPEI, July 23: Taiwan''s unemployment rate rose to 3.96 per cent in June from 3.87 per cent in May, largely on an increase in new graduates entering the job market, the government said on Monday.... Respect of open search for IMF chief urged WASHINGTON, July 23: The Group of 24 developing countries called on Monday for advanced nations to respect the International Monetary Fund’s decision to seek its next managing director without bias in favour of a European candidate.... Asian stocks mostly higher HONG KONG, July 23: Asian stocks markets closed mostly higher on Monday, getting over heavy losses on Wall Street at the end of last week as some took a strong Chinese performance as a lead to fresh highs, dealers said.... Malaysian palm oil down KUALA LUMPUR, July 23: Malaysian crude palm oil futures closed 1 per cent lower on Monday, dragged down by lower prices of rival soyabean oil and declining exports.... European stocks lower LONDON, July 23: Europe’s main stock markets mainly extended losses on Monday following heavy falls last week, as dealers tracked news across the insurance and banking sectors.... Old vehicles import ISLAMABAD, July 23: The ministry of commerce has allowed import of five- year old used vehicles by overseas Pakistanis till the end of the current month.... Brown against joining euro LONDON, July 23: British Prime Minister Gordon Brown again ruled out joining the euro in the near future on Monday, while calling on the EU to look outwards, not inwards.... Karachi market rates KARACHI, July 23: The following were Monday’s commodity market rates in rupees.... Company news WASHINGTON: Equipment rental group United Rentals said on Monday it had approved a takeover by affiliates of private equity giant Cerberus Capital Management for $6.6 billion....

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