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August 01, 2007 Wednesday Rajab 16, 1428 India opens market for Pakistani cement KARACHI, July 31: Bureau of Indian Standards (BIS) has given three Pakistani cement companies — Lucky, Maple Leaf and Pakistan Cement - permission to dispatch consignments to India for five months, newspaper ‘The Hindu’ stated on Tuesday, quoting senior government officials.... Less than 1pc cell-phone users avail MNP KARACHI, July 31: Less than one per cent of over 61 million mobile phone users avail the facility of mobile number portability (MNP) launched on March 23, 2007, sources in mobile phone industry said....   $400 million ADB loan to develop capital markets ISLAMABAD, July 31: The Asian Development Bank (ADB) will lend Pakistan $400 million to help improve functioning of capital markets, particularly in equity and long-term debt.... Plan to net 3m taxpayers by 2015 KARACHI, July 31: The Federal Board of Revenue (FBR) has embarked on a plan to broaden the tax net and improve tax-to-GDP ratio from the present low level of 9 per cent to 15 per cent by 2015.... Stocks bounce back on positive corporate news KARACHI, July 31: Stocks on Tuesday shrugged off the prevailing hesitancy and were back on the rails followed by active short-covering in cement and bank shares aided by reports of higher corporate earnings and the market talk of enhanced payouts.... New code of conduct for brokers drafted ISLAMABAD, July 31: The Securities and Exchange Commission of Pakistan (SECP) has drafted a new code of conduct for brokers and invited suggestions from stakeholders and general public on it.... FBR notifies levying of special excise duty ISLAMABAD, July 31: The Federal Board of Revenue (FBR) on Tuesday notified the levy of special excise duty on import and local supply of various goods.... Excess M2 growth still haunts State Bank KARACHI, July 31: The monetary growth (M2) went far beyond the target set for the year 2006-07, showing an increase of 43 per cent, making it more difficult for the State Bank to manage the excess liquidity in the economy.... Euro rebounds LONDON, July 31: The dollar edged higher against the yen on Tuesday and stemmed a fall against the euro following the release of a stronger-than-expected US consumer confidence survey, dealers said.... Oil hits 12-month high LONDON, July 31: The price of crude oil surged in New York on Tuesday to the highest level in more than a year, supported by market expectations that US energy stockpiles have fallen further, dealers said.... FBR delays IT figures ISLAMABAD, July 31: The Federal Board of Revenue (FBR) has delayed the announcement of collection figures for the first month (July 2007) of the current fiscal year.... PTA with Mauritius ISLAMABAD, July 31: Pakistan and Mauritius have signed the preferential trade agreement (PTA) to increase the level of bilateral trade between the two countries. Commerce Minister Humayun Akhtar Khan and Minister... Tax exemption ISLAMABAD, July 31: The government has exempted income tax on income accrued from industrial undertakings established in the vicinity of Gwadar port. The decision was taken through an income tax notification... PS achievement KARACHI, July 31: Pakistan Steel has attained landmark achievements in production and sales of its products during the fiscal year 2006-07. It had made highest ever half year and quarterly sales.... Prices rise on cotton market KARACHI, July 31: Cotton prices on Tuesday rose by Rs25 to Rs50 per maund in physical trading as ginners held on to their positions most of the time anticipating further pressure on ready supplies.... WB chief for progress on poverty reduction WASHINGTON, July 31: The World Bank endorsed a call by British Prime Minister Gordon Brown on Tuesday to accelerate progress toward meeting the UN Millennium Development Goals to cut global poverty in half by 2015.... Eurozone needs higher interest rates: IMF BRUSSELS, July 31: Higher eurozone interest rates might be in order to curb inflation and member governments should resist the temptation to ease budget targets when the economy is strong, the International Monetary Fund said on Tuesday.... Karachi Port operations KARACHI, July 31: Three ships carrying containers, coal and to load cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, July 31: Two container ships were accommodated berths at QICT during the last 24 hours, said a PQA press release on Tuesday. Meanwhile, three more ships carrying containers, chemicals and furnace oil also arrived at the outer anchorage.... Gas bill payment KARACHI, July 31: The Sui Southern Gas Company (SSGC) and 1Link (Guarantee) Limited signed an agreement whereby customers from the ATMs of participating 1Link member banks would be able to pay gas bills round-the-clock using their bank’s cards.... Poultry rates KARACHI, July 31: The following are Wednesday’s poultry market rates:... Fuel station KARACHI, July 31: Bosicor Pakistan Ltd added another fuel station to its growing network of retail outlets in Pakistan. G. A. Sabri, director-general Oil, Ministry of Petroleum and Natural Resources,... First gold exchange traded fund in Dubai DUBAI, July 31: Dubai, already the region''s gold trade hub, may see the launch of the Middle East''s first gold exchange traded fund (ETF) in 2008, a senior World Gold Council (WGC) official said.... India hikes cash ratio MUMBAI, July 31: India''s central bank on Tuesday warned inflation was still a risk and hiked its cash reserve ratio for banks by 50 basis points to seven per cent but kept short-term borrowing rates unchanged.... Asian stocks higher HONG KONG, July 31: Asian stocks closed higher on Tuesday, building on the previous day''s recovery after a solid rebound on Wall Street helped ease concerns over problems in the US housing market, dealers said.... Malaysian palm oil down KUALA LUMPUR, July 31: Malaysian crude palm oil futures fell 1.1 per cent on Tuesday as players booked profits after four straight days of gains, but losses were limited by healthy export growth, traders said.... European stocks bounce back LONDON, July 31: Europe''s main stock markets rebounded on Tuesday as bargain hunters snapped up cheap shares, following recent sharp losses, amid fresh takeover and company earnings news, dealers said.... Gold gains in nervous market LONDON, July 31: Gold drifted higher on Tuesday as stock markets recovered and the dollar weakened, but investors remained nervous due to recent falls in bullion price....

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