DAWN - Business; August 04, 2007

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August 04, 2007	Saturday	Rajab 19, 1428

Sindh’s share in GDP rises to 29pc KARACHI, Aug 3: The Sindh’s contribution in the national economy is estimated to have increased from 28.2 per cent in 1999-2000 to 28.6 per cent in 2004-05 and is expected to...		Advance-deposit ratio drops KARACHI, Aug 3: Bank deposits have substantially increased during the last fiscal which resulted in the decline of advance to deposit ratio, indicating presence of excess liquidity in the system....

India, Pakistan agree to combat trade barriers NEW DELHI, Aug 3: The commerce secretaries of India and Pakistan prescribed transparent measures on Friday to combat artificial trade barriers between the two countries and they set up empowered committees to help implement the resolve....		Sindh govt plans sale of assets worth billions KARACHI, Aug 3: The Sindh Privatisation Commission (SPC) will soon invite Expressions of Interest (EoIs) for the sale of billions of rupees assets of the defunct Sindh Road Transport Corporation (SRTC)...

Stocks suffer modest fall on profit-taking KARACHI, Aug 3: Stocks on Friday suffered modest pruning as jobbers and weakholders took profits at the higher levels amid light trading but some of the second-liners gave a credible performance....		Shamshad assures review of new system: Export refinancing KARACHI, Aug 3: State Bank Governor Dr Shamshad Akhtar on Friday assured exporters that the continuation of the new system of disbursement of export refinance would depend on its working during next three months....

Authorities withhold Rs40bn tax refunds ISLAMABAD, Aug 3: The tax authorities have withheld a sum of around Rs40 billion against refund payable to major exporters and taxpayers across the country during the fiscal year 2006-07....		20pc discount in LPG base price proposed ISLAMABAD, Aug 3: The liquefied petroleum gas (LPG) distributors have asked the government to fix the base price of local production lesser by 20 per cent from the international market in a bid to pass on benefits to consumers....

Bourses to be further strengthened, says Salman KARACHI, Aug 3: Adviser to Prime Minister on Finance Dr Salman Shah said on Friday that steps were underway to further strengthen the stock markets. Speaking to members of the Karachi...		SSGC signs MoU with German firm KARACHI, Aug 3: Sui Southern Gas Company Limited (SSGC) and Hydrometer GmbH, Germany-based global leader in digital utilities metering solutions, have signed a memorandum of understanding (MoU) for Pakistan’s first Automated Meter Reading (AMR) System....

Cotton market lacks lustre KARACHI, Aug 3: Cotton market on Friday lacked normal trading interest as both buyers and sellers kept to the sidelines apparently having an overview of their respective parity levels....		US labour market cools WASHINGTON, Aug 3: The US economy eked out 92,000 new jobs in July, weaker than expected due to cutbacks in the public sector, and unemployment was essentially unchanged at 4.6...

Karachi Port operations KARACHI, Aug 3: Four ships including two cement loaders are expected to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was active where...		Euro gains LONDON, Aug 3: The European single currency advanced against the dollar on Friday, after news that US employers added a weaker-than-expected number of jobs in July, underlining the weak state of the US economy....

Port Qasim KARACHI, Aug 3: Four ships carrying containers, sulphur and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Friday. Meanwhile, two more ships with containers and rapeseeds also arrived at the outer anchorage....		Inflation dips in India NEW DELHI, Aug 3: India''s inflation rate eased to 4.36pc on falling food prices, official data on Friday showed, after the central bank held benchmark interest rates steady earlier in the week....

Asian stocks mixed HONG KONG, Aug 3: Asian stocks closed mixed on Friday as rattled investors tried to consolidate positions after a roller coaster week driven by concerns over growing problems in the US home loan market, dealers said....		European stocks lower LONDON, Aug 3: Europe''s main stock markets slid lower on Friday after a volatile week that was rocked by investor concerns over the global impact of the slumping US housing sector, dealers said....

Palm oil slips KUALA LUMPUR, Aug 3: Malaysian crude palm oil futures slipped 0.8 per cent on Friday in lacklustre trade as concerns over swelling supplies continued to pressure prices....		Trade officers ISLAMABAD, Aug 3: The ministry of commerce has initiated the process of selecting trade officers in BS-18, 19 and 20 for posting in the Pakistan Missions abroad....

Oil prices slide LONDON, Aug 3: World oil prices fell on Friday as traders wrapped up a momentous week that saw New York crude strike a record high $78.77...		Company news KARACHI, Aug 3: The Board of Directors of Al Meezan Mutual Fund Limited (AMMF) has announced 25pc cash (Rs2.5 per share) and 15pc stock dividend. The board of directors in...