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August 11, 2007 Saturday Rajab 26, 1428 Govt mulling 30-35pc duty on flour export: Curbing price-hike ISLAMABAD, Aug 10: The government has decided to impose 30-35 per cent regulatory duty on the export of wheat flour and superfine flour (maida) to curb their increasing prices, said Prime Minister’s Adviser on Finance Dr Salman Shah.... US housing woes stir turbulence on world markets PARIS, Aug 10: US home loan woes caused more turbulence on world markets on Friday despite the tens of billions of dollars released by central banks to stop the problem turning into a global economic crisis....   Rain causes production losses in industrial areas KARACHI, Aug 10: Industries in various areas suffered production losses during the last two days, in some cases up to 70 per cent as a sizable number of workers failed to... Vegetables in short supply KARACHI, Aug 10: Vegetables remained in short supply on Friday as 90 per cent vendors failed to reach the Subzimandi on Superhighway because of heavy downpour and accumulated rainwater on roads.... Stocks extend losses on weekend selling KARACHI, Aug 10: Stocks on Friday failed to sustain the early run-up aided by official denial about the imposition of emergency as a section of leading investors indulged in weekend selling... Copyright laws being misused by imitators KARACHI, Aug 10: Copyrights are being used as trademarks by some traders to avoid action against fake products causing confusion in the market, lawyers dealing with Intellectual Property Rights (IPR) cases told Dawn on Friday.... Distortions in stamp duty regime hurt bond market ISLAMABAD, Aug 10: An international lender has pointed out serious policy distortions in the current stamp duties regime in Pakistan and said “it undermined the balanced development of the financial sector,... Eligible exporters to get financing KARACHI, Aug 10: State Bank Governor Dr Shamshad Akhtar on Friday said that all eligible exporters would get refinance as per their entitlement from the scheduled banks and in case of problem the SBP should be informed.... IEA calls for Opec oil output boost PARIS, Aug 10: The International Energy Agency (IEA) on Friday called on Opec nations to increase production to cope with an expected surge in winter demand in the northern hemisphere.... Oil prices fall below $69 LONDON, Aug 10: World oil prices fell for the third straight day on Friday, with a barrel of Brent below $69 for the first time since June, on concern that energy demand may weaken amid the US sub-prime crisis.... Reserves fall by $15m KARACHI, Aug 10: The country’s foreign exchange reserves fell by a marginal $13 million to $15.779 billion in the week ended August 4, the central bank announced on Friday.... Pakistan to benefit from Indian expertise in IT KARACHI, Aug 10: Federal Minister for Information Technology Awais Ahmed Khan Leghari has said that Pakistan wants to benefit from the advanced expertise of international giants including India in the field of information technology (IT).... Dull trading on cotton market KARACHI, Aug 10: Trading activity on the cotton market on Friday remained insipid as spinners and mills stayed away and did not bid at the higher asking prices.... WB team to review tax reforms ISLAMABAD, Aug 10: A high-level World Bank mission is due here on Aug 18 to review the implementation of various steps taken under the proposed restructuring of the tax administration reform project.... Karachi Port operations KARACHI, Aug 10: Five ships carrying crude oil, containers and to load cement are due at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was... Port Qasim KARACHI, Aug 10: Two ships carrying containers and iron ore were accommodated berths during the last 24 hours, said a PQA press. Meanwhile, three more ships with containers, chemicals and furnace oil also arrived at the outer anchorage.... Project for e-filing of tax returns launched KARACHI, Aug 10: The Large Taxpayers Unit (LTU), Karachi, launched on Friday a pilot project for electronic filing of withholding tax, sales tax and federal excise returns due on August 15, 2007.... Pakistan Petroleum profit up by 25.15pc KARACHI, Aug 10: State-run Pakistan Petroleum (PPL) on Friday reported a 25.15 per cent jump in full-year net profit, fuelled by higher production and rising oil and natural gas prices.... Exhibition calendar discussed LAHORE, Aug 10: The Chief Executive Officer of Trade Development Authority of Pakistan (TDAP), Tariq Ikram, here on Friday held a meeting with the exporters of sports goods, surgical instruments and... Asian stock markets lower HONG KONG, Aug 10: Asian stocks were hammered on Friday by a global rout after heavy losses on US and European markets as investors fled for shelter from the US housing woes.... Palm oil slips KUALA LUMPUR, Aug 10: Malaysian crude palm oil futures ended 0.8 per cent lower on Friday, weighed down by lower prices of rival soybean oil and a strong build-up in reserves.... Growth slows in Italy ROME, Aug 10: Italy''s economy shrank in the second quarter, nudging up 0.1 per cent compared with an adjusted growth figure of 0.3 per cent in the first quarter, officials said on Friday.... Excise rules ISLAMABAD, Aug 10: The Federal Board of Revenue has issued new federal excise rules for banking and airline sector.... Conversion rates KARACHI: The following are August 11 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds.... Karachi market rates KARACHI, Aug 10: The following were Friday’s commodity market rates in rupees.... Company news KUALA LUMPUR: Richard Branson’s Virgin Group is taking a 20 per cent stake in Malaysia’s AirAsia long-haul carrier, with the British billionaire vowing on Friday to pilot the project into profitability....

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