DAWN - Business; July 27, 2007

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July 27, 2007	Friday	Rajab 11, 1428

Pro-consumer CNG draft policy formulated KARACHI, July 26: The Ministry of Petroleum and Natural Resources has formulated a Draft CNG Policy 2007 aimed at achieving various objectives including “no new CNG station is constructed in the...		SECP seeks comments on amendments to REITs ISLAMABAD, July 26: The Securities and Exchange Commission of Pakistan (SECP) has sought comments from all the stakeholders and public on amendments recently introduced to the Real Estate Investment Trusts (REITs)....

State Bank to execute RTGS system from next month KARACHI, July 26: The State Bank of Pakistan on Thursday said that the Real Time Gross Settlement (RTGS) system would be implemented from August 15, 2007....		Transparency in private businesses underlined Karachi, July 26: The private business sector of the country will have to earn the credibility by becoming more transparent and fair to be able to aggressively operate in a choosy and standards conscious globalised corporate world....

Bull-run sustains on stock market KARACHI, July 26: The KSE 100-share index on Thursday maintained its upward drive and added another 88 points but finished well blow the session’s peak level on late selling triggered by...		Buying picks up on cotton market KARACHI, July 26: Physical activity on the cotton market on Thursday showed a sizable expansion as price ideas of both the spinners and the ginners seem to have finally found a meeting ground in line with their respective parity levels....

PM seeks UK help for FTA with EU ISLAMABAD, July 26: Prime Minister Shaukat Aziz hoped on Thursday that Britain would continue to play a supportive role for conclusion of a free trade agreement (FTA) between Pakistan and European Union....		CNG outlets to have separate gas meters KARACHI, July 26: The Sui Southern Gas Company (SSGC) has agreed to provide separate gas meters to those CNG stations, which are using gas driven generators to meet their power requirements....

IPPs network reflects investors’ confidence ISLAMABAD, July 26: Prime Minister Shaukat Aziz has said the intended expansion of operations by independent power producers (IPPs) demonstrate the confidence of overseas investors in the policies of the present government....		Oil prices rise on speculative buying LONDON, July 26: The price of New York crude leapt above $77 a barrel on Thursday, reaching the highest level since last August, as keen global demand and tight supplies fuelled speculative buying, traders said....

OGDC aims for first overseas oil venture ISLAMABAD, July 26: Pakistan''s Oil and Gas Development Co Ltd (OGDCL) is in talks for its first overseas joint venture in China and is exploring forays into the Middle East, North Africa and Eastern Europe, its chief said on Thursday....		Euro falls aginst dollar LONDON, July 26: The euro fell to a two-week low against the dollar on Thursday before recovering somewhat following a report on sales of US durable goods that disappointed analysts....

China’s economy BEIJING, July 26: China''s top leadership said on Thursday the economy was in good shape but preventing dangerous overheating was the nation''s top economic policy priority....		Reserves KARACHI, July 26: Pakistan''s foreign exchange reserves registered an increase of $112 million at $15,757.9 million on July 21, 2007, State Bank of Pakistan (SBP) stated on Thursday....

Shanghai fair KARACHI, July 26: Thirteen Pakistani exhibitors will be participating in Intertextile Shanghai fair being held at Shanghai, China from August 29 to 31....		Plan to raise horticulture exports to $1bn ISLAMABAD, July 26: The government plans to increase horticulture export from $150 million to $1 billion by 2012 by using innovative methods and promoting financing and competitiveness of the horticulture sector in the country....

NTC begins reviewing duty on Sorbitol ISLAMABAD, July 26: The National Tariff Commission (NTC) has initiated review for change of circumstances of anti-dumping duty imposed on dumped imports of Sorbitol 70 per cent solution from Indonesia....		Rating KARACHI, July 26: JCR-VIS Credit Rating Company has placed the entity ratings of ‘BBB+/A-3’ (Triple B Plus/A-Three) assigned to Saudi Pak Commercial Bank Limited under ‘Rating Watch- Developing’ status in view...

Job cuts LONDON, July 26: The Anglo-Swedish pharmaceuticals giant AstraZeneca said on Thursday that it would cut 7,600 jobs by 2010, more than double an original estimate, as it posted a fall in second-quarter net profit....		Conversion rates KARACHI: The following are July 27 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

Gold drifts higher LONDON, July 26: Gold prices recovered a little on Thursday after falling to a one-week low, and analysts said the metal could gain further on a bullish outlook....		Malaysian palm oil rises KUALA LUMPUR, July 26: Malaysian crude palm oil futures climbed nearly 2 per cent on Thursday on a weakening ringgit currency and surging crude oil prices....