DAWN - Business; August 21, 2007

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August 21, 2007	Tuesday	Sha’aban 7, 1428

Poultry meat rate surges to Rs178/kg KARACHI, Aug 20: Poultry live birds meat is now selling at an all-time high rate of Rs176 to Rs178 per kg, thus putting an extra burden on the consumers’ kitchen budget....		Pakistan urged to comply with WTO standards ISLAMABAD, Aug 20: The government has decided to comply with the standards demanded by the World Trade Organisation (WTO) to survive in the export market. Official sources told Dawn on Monday...

Millers warn against looming sugar crisis LAHORE, Aug 20: Pakistan Sugar Mills Association (PSMA) drew the attention of the government on Monday towards “the worst emerging sugar and cane crises.” In a letter to Dr Salman Shah,...		Security problem may delay oil output in NWFP ISLAMABAD, Aug 20: The Hungarian-based MOL Pakistan, prospecting for oil and gas in Gurguri area of the Karak district, on Monday confirmed that a foreign sub-contractor had pulled out of petroleum...

Stocks turn easy on profit-selling KARACHI, Aug 20: Trading on the share market on Monday resumed on a higher note as a section of investors covered positions on selected counters, but the early run-up could not be sustained owing to late profit-selling....		Demutualisation law on the cards LAHORE, Aug 20: Chairman Securities and Exchange Commission of Pakistan (SECP) Razi-ur-Rehman Khan on Monday said that the commission was presently working on the draft of a demutualisation law, which when...

Combined profit of three oil firms drops KARACHI, Aug 20: Aggregate profitability of the three listed oil marketing companies (OMCs) - PSO, Shell and APL - for the year ended June 30, 2007 showed sharp decline of 41pc at Rs7.1bn...		JS ABAMCO assets grow 29.7pc KARACHI, Aug 20: JS ABAMCO Limited showed 29.7 per cent growth in net assets under management which amounted to Rs29 billion at June 30, 2007 and five-year cumulative average growth rate (CAGR) of 43.3...

Social cover for EPU workers planned KARACHI, Aug 20: The government plans to hire a private sector insurance company to provide social security cover to the workers of Export Processing Units (EPUs)....		APL to invest in associated companies KARACHI, Aug 20: Attock Petroleum Limited (APL) announced on Monday that it proposed to invest in shares of associated companies: National Refinery, Attock Refinery, Pakistan Oilfields and Attock Cement Pakistan....

Philippines may import rice from Pakistan MANILA, Aug 20: The Philippines announced on Monday it would hold a tender on Sept 7 for import of 260,000 tons of rice. The government’s National Food Authority said the 25...		MoU signed to make businesses competitive KARACHI, Aug 20: The USAID-funded Competitiveness Support Fund (CSF) and Pakistan Business Council (PBC) signed a memorandum of understanding (MoU) to identify public policy initiatives to improve competitiveness of Pakistani businesses....

Oil prices fall as hurricane fears ease LONDON, Aug 20: World oil prices dropped on Monday as Hurricane Dean was on course to miss energy facilities in the United States, the world’s biggest consumer of crude, analysts said....		Euro steady LONDON, Aug 20: The euro was steady against the dollar and slightly up against the yen on Monday, having slipped off earlier highs as a recovery in European equity markets appeared to stall, traders said....

Global stocks rise, Wall Street caps gains LONDON, Aug 20: World stock markets rose on Monday, extending gains made thanks to the Federal Reserve’s willingness to help with the fallout of a US home loans crisis, but a listless Wall Street capped gains elsewhere....		Cotton prices rise on active demand KARACHI, Aug 20: Cotton market showed firm trend on Monday as most of the deals in the ready section were finalised Rs50 per maund higher as compared to weekend rate....

US indicators rise WASHINGTON, Aug 20: The forward-looking index of leading economic indicators rose 0.4 per cent in July, suggesting improving conditions later this year, the Conference Board said on Monday....		Ukraine’s plea to halt privatisation deals KIEV, Aug 20: Ukraine’s President Viktor Yushchenko on Monday called for a freeze on a sweeping privatisation programme of state-run firms ahead of legislative elections next month, saying the deals could be shady....

Britain persuades EU to relax meat ban BRUSSELS, Aug 20: Britain is seeking to persuade its EU partners this week to resume imports of British meat by restricting its ban to the area around the English farms where...		Port Qasim KARACHI, Aug 20: Four ships carrying containers and chemicals were accommodated berths at QICT and EVT during the last 24 hours, said a PQA press release on Monday....

Brussels slammed for market crisis BRUSSELS, Aug 20: The European Trade Union Confederation (ETUC) on Monday called on the European Commission to act decisively to help end the current “financial crisis”, accusing Brussels of “monumental complacency.”...		Borse Dubai plans acquisitions STOCKHOLM, Aug 20: Borse Dubai would look to expand exchange firm OMX organically and through acquisitions if its $4 billion bid succeeds, its head told Reuters on Monday, adding the deal made industrial sense....

Palm oil prices lower KUALA LUMPUR, Aug 20: Malaysian crude palm oil futures ended lower on Monday at a seven-week low as declining prices of rival soyabean oil and brisk short-selling weighed down the market after it rebounded in morning trade....		Gold rises on weaker dollar LONDON, Aug 20: Gold gained on Monday with a drop in the dollar and recovery in stocks, but investors remained cautious as they digested the US federal reserve’s surprise move to slash the rate it charges banks on loans....

US mortgage firm sells assets WASHINGTON, Aug 20: Thornburg Mortgage Inc. said on Monday it had sold $20.5 billion of assets as it seeks to weather the financial storm buffeting the troubled US housing industry....		Conversion rates KARACHI: The following are August 21 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....