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August 10, 2007 Friday Rajab 25, 1428 Businessmen nervous over political instability KARACHI, Aug 9: Industrialists and traders appear to be nervous over looming political crisis after rumours of emergency or martial law. They have urged the government to immediately remove uncertainty so that businesses could flourish.... Power outages eating away export deals KARACHI, Aug 7: Acute power crisis combined with water shortage have crippled production activity in five industrial estates of the city resulting in loss of export contracts worth millions of dollars daily, industry sources claimed....   Agriculture sector gets Rs169bn in five years ISLAMABAD, Aug 9: The banking sector has provided a total of Rs169 billion in the last five years to help develop agriculture sector and increase export of its various products.... Customs accord with India likely ISLAMABAD, Aug 9: The Pakistan India sub-groups on trade have recommended a range of measures, including removing of non-tariff barriers, relaxation in issuance of certificates of standards for increasing the bilateral trade through official channels.... Emergency rumours wipe out Rs115bn from stock market KARACHI, Aug 9: The KSE 100-share index on Thursday plunged by 385 points as investors indulged in panic-selling on media reports of imposition of emergency. However, the market capital suffered a loss of Rs115bn as official denial came a bit late.... Foreigners ignore the bloodbath KARACHI, Aug 9: A sample of 10 small investors and punters interviewed at the Karachi Stock Exchange on Thursday revealed two things that were common to many.... Low quality sugar being imported from India LAHORE, Aug 9: Some commercial importers from Lahore and Multan have opened letters of credit (LCs) for import of around 6,000 to 12,000 tons of low quality sugar with high sulphur content from India, a sugar manufacturer told Dawn on Thursday.... Meeting on food prices ends without any results ISLAMABAD, Aug 9: The second meeting of the ministerial committee on core food inflation held here on Thursday ended with no tangible results for controlling spiralling food prices.... Accord on gas pipeline TEHRAN, Aug 9: Special representative of the Iranian minister of petroleum for peace gas pipeline announced that as soon as India and Pakistan reach a final agreement, the pipeline contract would be ready for signing.... Oil prices slide LONDON, Aug 9: World oil prices extended losses on Thursday, falling below $70 a barrel in London for the first time since June, on worries that energy demand may weaken amid US economic woes, analysts said.... First right of refusal to oil firms disallowed ISLAMABAD, Aug 9: The government has decided not to allow first right of refusal to the existing oil and gas field operators on completion of their 30-year leases and instead transfer... Clarification KARACHI, Aug 9: The National Commodity Exchange Limited (NECL) has responded to a news-item published in Dawn on Thursday (Aug 9) to inform that it has at present 256 members on its roll.... Proposals to attract more industrial investment ISLAMABAD, Aug 9: Official planners have proposed to the government to create a market-friendly business environment to enhance industrial investment and the overall economic growth in the country.... Lint prices maintain bullish trend KARACHI, Aug 9: The cotton market on Thursday maintained its bullish trend as spinners literally followed the price line dictated by the ginners amid an actively traded session.The... UK trade deficit narrows LONDON, Aug 9: Britain’s trade in goods deficit narrowed in June to reach the lowest level in 20 months and the country''s oil balance showed a surplus for the first time since April 2006, official data showed Thursday.... US apparel sales decline in July 2NEW YORK, Aug 9: US apparel chains posted dismal July sales results on Thursday and several lowered their second-quarter earnings forecasts, citing sluggish store traffic and slimmer margins due to promotions.... ECB injects record $130.2 billion FRANKFURT, Aug 9: The European Central Bank made record cash injection into the eurozone banking market on Thursday to help lenders shaken by the US sub-prime mortgage crisis.... Three date processing plants to be set up SUKKUR, Aug 9: Three modern date processing plants will be established under the trade policy by the end of 2008, one each in Sindh, Balochistan and NWFP, at a cost of Rs78.6... Karachi Port operations KARACHI, Aug 9: Six ships carrying containers and steel coils are expected to arrive at the outer anchorage on Friday, according to KPT sources. Berthing activity at the wharves was active where five ships, Kaptain Byankin, Y.M.... Port Qasim KARACHI, Aug 9: Two container ships were accommodated berths at QICT during the last 24 hours, said a PQA press release on Thursday. Meanwhile, two more ships carrying containers and iron ore also arrived at the outer anchorage.... Asian stocks higher HONG KONG, Aug 9: Asian stocks closed mostly higher on Thursday on sharp gains on Wall Street but markets trading later in the day were punished severely after a European exposure to US sub-prime problems were revealed.... World stocks slide LONDON, Aug 9: Global equities turned sharply lower on Thursday, led by heavy falls to leading European stock markets, as worries resurfaced about a weak US subprime mortgage sector, dealers said.... Malaysian palm oil gains KUALA LUMPUR, Aug 9: Malaysian crude palm oil futures ended 1.4 per cent higher on Thursday, bouyed by robust prices of rival soyabean oil, traders said.... Gold falls LONDON, Aug 9: Gold fell more than one per cent on Thursday as concerns about a global credit crunch flared up and increased gold sales by central banks dampened market sentiment.... Dollar gains LONDON, Aug 9: The dollar and the yen rose on Thursday as a new bout of risk aversion gripped global financial markets owing to renewed concerns about the impact of problems in the US subprime mortgage sector.... Karachi market rates KARACHI, Aug 9: The following were Thursday’s commodity market rates in rupees.... Company news ISLAMABAD: Mobilink, one of the largest cellular service providers, on Thursday announced the renewal of its licence for mobile telephone for $291 million.... Conversion rates KARACHI: The following are August 10 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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