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August 08, 2007 Wednesday Rajab 23, 1428 Aljamaih negotiating resale of KESC? KARACHI, Aug 7: The Aljamaih business group of Saudi Arabia that acquired 73 per cent shares of Karachi Electric Supply Corporation (KESC) in a privatisation deal in mid-2005 is now negotiating... Dealers oppose govt role in CNG price fixation KARACHI, Aug 7: Dealers have rejected the role of the Oil and Gas Regulatory Authority (Ogra) in fixing the CNG prices as proposed under the new CNG draft policy 2007....   Bankruptcy law on the cards: SBP chief LAHORE, Aug 7: State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar said on Tuesday that a bankruptcy law was being drafted to allow companies to wind up their businesses, but she refused to give a timeframe for its enactment.... Govt to ensure supply of fertilisers ISLAMABAD, Aug 7: Prime Minister Shaukat Aziz on Tuesday said the government would continue to monitor prices of fertilisers and ensure its availability to the farmers during the Rabi season and beyond.... Bearish spell continues on stock market KARACHI, Aug 7: Stocks on Tuesday suffered fresh widespread fall on renewed foreign selling in the leading banking shares, but stray covering purchases on selected counters at dips limited the losses.... Pakistan for more market access to US WASHINTONG, Aug 7: Access to US market is a key tool in Pakistan’s drive against extremism, said the federal commerce minister on Tuesday following talks with US officials on trade initiatives.... Oil prices extend fall LONDON, Aug 7: World oil prices fell only slightly on Tuesday, a day after sliding by around $3.5 a barrel, as traders forecast weaker energy demand owing to economic troubles affecting the United States.... Dollar steady LONDON, Aug 7: The dollar traded little changed against the euro and yen on Tuesday, as the market awaited the latest US interest rate decision and the Federal Reserve''s assessment of US credit problems.... Spinners for resolution of basic issues KARACHI, Aug 7: Already burdened with high cost of production and financial crisis spinners are seeking an ‘exit strategy’ from the government to close down their units.... 86pc bank depositors keep money for short tenures KARACHI, Aug 7: More than 86 per cent bank deposits have been kept for less than one year, showing poor capability of the banks to lend for a longer period.... Tin price at record high LONDON, Aug 7: The price of tin struck an historic peak here on Tuesday amid tight supplies of the base metal. On the London Metal Exchange (LME) the price of tin... HBL public share offer recives good response KARACHI, Aug 7: The Initial Public Offering (IPO) of shares in Habib Bank Limited (HBL) has been over-subscribed by Rs6.40 billion or 52 per cent with the bank receiving Rs18.60... Fed keeps interest rates at 5.25pc WASHINGTON, Aug 7: The Federal Reserve announced Tuesday in a widely expected decision that it was keeping US interest rates unchanged at 5.25 per cent. The central bank has held its short-term fed funds rate at 5.25... Lint prices rise on short crop ideas KARACHI, Aug 7: Cotton market on Tuesday maintained a bullish trend as fears about a short crop continued to fuel price flare-up despite guarded support being extended by the spinners.... FPCCI seeks steps for textile industry ISLAMABAD, Aug 7: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday urged the government to immediately announce the short-term measures of the draft textile policy to salvage the industry from its current crisis.... Economy stabilises, says prime minister ISLAMABAD, Aug 7: Prime Minister Shaukat Aziz said on Tuesday that the consistent and transparent policies had established the economy on solid foundation, which attracted substantial investment.... Karachi Port operations KARACHI, Aug 7: Six vessels carrying containers and general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity at the wharves was modest... Port Qasim KARACHI, Aug 7: Four ships to load and offload containers, cement and edible oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.... Aptma’s views sought on mill’s complaint LAHORE, Aug 7: The ministry of commerce has asked All Pakistan Textile Mills Association (Aptma) to furnish its views along with documentary evidence, if any, on a complaint by a textile... Belarus paying off gas debt MINSK, Aug 7: Belarus said on Tuesday it was paying off its debts to Russia''s Gazprom and that all debts would be settled by the end of the week, averting a threatened cut-off.... Asian stocks close mixed HONG KONG, Aug 7: Asian stocks closed mixed on Tuesday with investors failing to match an overnight rally on Wall Street, which provided some relief from the latest round of harsh selling.... Gold dips LONDON, Aug 7: Gold eased on Tuesday ahead of the US Federal Reserve''s policy meeting later in the day, with investors watching the currency market for clearer direction.... Palm oil lower KUALA LUMPUR, Aug 7: Malaysian crude palm oil futures closed marginally lower on Tuesday as speculative buying helped the market to cut losses suffered during the morning session.... Karachi market rates KARACHI, Aug 7: The following were Tuesday’s commodity market rates in rupees....

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