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July 26, 2007 Thursday Rajab 10, 1428 Floods cause damage to rice crop in Sindh ISLAMABAD, July 25: There are chances of further increase in prices of all varieties of rice in the coming weeks after it was officially confirmed that monsoon rains had damaged the crop severely in Sindh, sources told Dawn on Wednesday.... ROZs to get 15-year zero rated access to US markets LAHORE, July 25: US Economic and Commercial Affairs Consular Amy Holman has said that after the passage of the legislation by the end of this autumn Reconstruction Opportunity Zones (ROZs) to...   Micro finance banks suffer huge losses KARACHI, July 25: Most of the micro finance banks have posted losses in 2006 as their administrative expenses remained higher than the interest and non-interest income, said a State Bank report on “Financial Position of Micro Finance Banks-2006” issued on Wednesday.... FBR fails to set up six RTOs under reforms ISLAMABAD, July 25: The Federal Board of Revenue (FBR) has missed the June deadline for converting six medium taxpayers units (MTUs) into regional tax offices (RTOs) under the World Bank funded reforms of tax administration.... Stocks cut overnight losses in mixed trading KARACHI, July 25: The share market on Wednesday resisted larger fall as a section of investors covered positions in the cement and oil sectors but the underlying sentiment remained shaky owing to negative news from the tribal areas.... City govt delays issuance of price list KARACHI, July 25: The city district government has delayed the issuance of retail price list of 66 items for July 18 to August 18. Besides, the officers responsible for price checking... Oil prices inch up after US stocks data LONDON, July 25: World oil prices nudged higher on Wednesday following two days of losses despite an announcement by the US government that US stockpiles of gasoline had surged last week.... IMF improves world growth outlook WASHINGTON, July 25: The International Monetary Fund on Wednesday raised its 2007 and 2008 forecasts for world economic growth to 5.2 per cent, and said China was poised to become its most powerful driver.... Govt to facilitate German investors ISLAMABAD, July 25: Federal Minister for Industries Jahangir Khan Tareen on Wednesday said that the government would facilitate German investors and would encourage them to make investment in various sectors of the country.... Petroleum exchange BEIJING, July 25: China opened its second petroleum exchange Wednesday in the northeastern port city of Dalian, less than a year after the launch of a similar bourse in Shanghai, state media said.... UK assures help for EU market access ISLAMABAD, July 25: Commerce Minister Humayun Akhtar Khan has said that the current market access granted by EU to South Asia was discriminatory as it has excluded Pakistan.... SSGC to spend Rs9bn on expansion KARACHI, July 25: Sui Southern Gas Company (SSGC) will make a capital expenditure of Rs9billion during the current fiscal year for expansion of its transmission and distribution network.... Active trading on cotton market KARACHI, July 25: Physical activity on the cotton market on Wednesday picked up after couple of sluggish sessions as spinners and mills were out to grab the floating stock of new crop irrespective of the asking prices.... Trade policy disappoints Peshawar businessmen PESHAWAR, July 25: The new trade policy carries unrealistic export target and lacks a long-term strategy to develop a vibrant manufacturing sector that is under severe pressure from the ‘friendly’ invasion of cheap Chinese goods, says businessmen.... US housing gloom darkens WASHINGTON, July 25: Sales of existing US homes fell much more heavily than predicted in June to their lowest level in over four and a half years as the property market... Karachi Port operations KARACHI, July 25: Over a dozen vessels carrying DAP fertiliser, general cargo and to load cement are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, July 25: Three ships to load/offload containers, edible oil and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Services export declines ISLAMABAD, July 25: The services sector export declined by 0.84 per cent in the first 11 months (July-May) period of the fiscal year 2006-07 over the same period of last year, Federal Bureau of Statistics (FBS) said on Saturday.... ZTBL rates of return ISLAMABAD, July 25: The Zari Taraqqiati Bank Limited (ZTBL) on Tuesday announced the rates of return on PLS saving and term deposit accounts for the half year (January-June) 2007.... Asian stocks lower HONG KONG, July 25: Asian stocks closed lower on Wednesday, with several markets coming off record highs after sharp Wall Street losses sparked by fresh concerns at growing problems in US sub-prime mortgages, dealers said.... Malaysian palm oil down KUALA LUMPUR, July 25: Malaysian crude palm oil futures edged lower on Wednesday, weighed down by the Indian government''s admission that import duty cuts on the commodity were less than previously announced, traders said.... European stocks mostly fall LONDON, July 25: Europe''s main stock markets mainly dropped on Wednesday amid a fresh batch of corporate results and after more heavy falls on Wall Street that were linked to US economic concerns, dealers said.... Gold prices LONDON, July 25: Gold fell nearly 1 per cent on Wednesday as a recovery in the dollar and softer oil prompted investors to take profits from the metal''s 11-week highs.... Dollar steady LONDON, July 25: The dollar firmed against the euro here on Wednesday on news that the median price for an existing home in the United States rose in June, the first annual gain for nearly a year....

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