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August 22, 2007 Wednesday Sha’aban 8, 1428 Stocks plunge on emergency rumours KARACHI, Aug 21: The KSE 100-share index on Tuesday crashed from the recent highs by 3.5 per cent or 447.55 points on panic foreign selling triggered by strong rumours about the imposition of emergency or martial law, said a leading analyst.... Income tax bar complains about faulty e-filing system KARACHI, Aug 21: Taxpayers face problems in filing their monthly and annual tax statements as well as tax returns through the newly introduced e-filing system. There is a growing concern amongst...   Drastic fall in service charges payment by US KARACHI, Aug 21: Payment of service charges by the US against services provided by the Pakistan government fell sharply this year compared to the last year.... US economic heavyweights meet as home forclosures surge WASHINGTON, Aug 21: Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson met with an influential senator on Tuesday to debate the troubles roiling America’s housing and financial markets.... Relaxation sought in timings for heavy vehicles KARACHI, Aug 21: Businessmen and exporters have called for relaxation in curbs on movement of heavy traffic in Karachi during day time.... Amendments to trade policy introduced ISLAMABAD, Aug 21: The commerce ministry has introduced various amendments to the trade policy 2006-07 to facilitate export of goods to Afghanistan.... Oil prices slip to two-month low LONDON, Aug 21: The price of crude oil slid to a two-month low point here on Tuesday as Hurricane Dean remained on course to avoid hitting vital energy facilities in the US Gulf of Mexico, traders said.... Pakistan, South Africa agree to boost economic ties ISLAMABAD, Aug 21: South Africa and Pakistan have agreed to increase economic cooperation in all fields particularly in mining, steel, auto, chemical and plastics, engineering and technology.... Yen firms on Fed rate-cut rumours LONDON, Aug 21: The euro edged higher against the US dollar while the Japanese yen firmed against most major currencies on Tuesday amid speculation that the US Federal Reserve would soon cut its key Fed Funds rate.The... Early repair of berths demanded KARACHI, Aug 21: Pakistan Ship Agents Association (PSAA) has asked the Karachi Port Trust (KPT) to reconstruct the collapsed berths on a fast track by awarding contract to more than one company.... Yields on bonds raised KARACHI, Aug 21: The State Bank on Tuesday increased the cut-off yields on Pakistan Investment Bonds (PIBs) of all tenures.... Thai exports slow BANGKOK, Aug 21: Thai exports rose 5.9 per cent year-on-year in July, a sharp drop from 18.6 per cent in the first half, due to the strong Thai baht and a slowing US economy, the commerce ministry said on Tuesday.... SNGPL clarification KARACHI, Aug 21: The Sui Northern Gas Pipelines Limited (SNGPL) said on Tuesday that it was continuously receiving about 62 MMCFD of gas from Gurguri and Makori fields owned by the... Malaysian plan KUALA LUMPUR, Aug 21: Malaysia has embarked on a huge development plan to spread growth and jobs to its Malay-majority hinterlands, but analysts said it faced tough competition for necessary foreign investment.... Trading gets firm on cotton market KARACHI, Aug 21: Cotton market on Tuesday showed firm trend as ginners raised their asking prices further higher followed by reports of a considerable fall in arrivals of phutti from the growers.... Global stock markets edge higher LONDON, Aug 21: Major global stock markets doggedly pursued recoveries on Tuesday, with most US and European indices adding to Asian gains despite warnings of more volatility owing to chronic fears of a credit crunch.... BoI asked to reduce hassle factor ISLAMABAD, Aug 21: Prime Minister Shaukat Aziz has asked the Board of Investment for having close coordination with relevant ministries and organisations to speed up approvals and reduce the hassle factor.... ‘US credit crunch to ease in time’ WASHINGTON, Aug 21: US Treasury Secretary Henry Paulson expressed confidence on Tuesday that the credit crunch roiling America’s financial markets will ease over time as investors reprice risk.... German bank to pull out of Iran BERLIN, Aug 21: Dresdner Bank plans to join other German banks that have withdrawn from Iran, amid US pressure and excessive administration costs, the Financial Times Deutschland said in its Wednesday edition, quoting a bank spokesman.... BoE lending LONDON, Aug 21: The Bank of England said on Tuesday it has lent 314 million pounds ($622m) to commercial banks through a special borrowing facility amid tightened global credit market conditions.... Training ISLAMABAD, Aug 21: South Asian Federation of Exchanges (SAFE) will hold fourth international training programme for securities market professionals next month.... Poultry KARACHI, Aug 21: The following are Wednesday’s poultry prices in rupees. EGGS: Rs1230 to Rs1235 per crate of 30 dozens, Broiler (Live): Rs98 per kilo; Culled Bird (Live): Rs44 per kilo.... Income tax COPENHAGEN, Aug 21: Denmark’s Liberal-Conservative government on Tuesday unveiled plans to cut income taxes as of 2008, improve the national welfare system and improve quality in the public sector.... Palm oil up KUALA LUMPUR, Aug 21: Malaysian crude palm oil futures closed 1.3 per cent higher on Tuesday, lifted by rising prices of rival soybean oil but gains were limited by continued fears of swelling stocks due to a seasonal uptick in production.... Gold slips LONDON, Aug 21: Gold slipped with stock markets and other commodities on Tuesday as fears about the effect of a global credit squeezed lingered, analysts said.... Karachi Port operations KARACHI, Aug 21: Six ships carrying containers, general cargo and to load cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....

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