DAWN - Business; August 26, 2007

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August 26, 2007	Sunday	Sha’aban 12, 1428

Crackdown soon against hoarders of wheat, flour: Price-hike KARACHI, Aug 25: The government is gearing up for a crackdown before Ramazan on hoarders of wheat and flour in Sindh and Punjab for which a list has already been prepared...		Issues of sugar industry to be discussed on 30th KARACHI, Aug 25: Leaders of sugar industry have been summoned by the prime minister’s committee on inflation control on Thursday (Aug 30) to discuss commencement of sugarcane crushing from mid-October in Sindh and from November in Punjab and NWFP....

Fixing of support price linked to cost, yield: Wheat, sugarcane ISLAMABAD, Aug 25: In a major policy shift, the government has decided to link the support price of two major crops — wheat and sugarcane — to sliding production cost and increasing yield per acre as incentive....		Lopsided sugar policy hurting stakeholders KARACHI, Aug 25: The lopsided sugar policy continues to hurt interests of consumers, growers and the industry alike....

Japan inks trade deal with Asean MANILA, Aug 25: A 10-nation Southeast Asian bloc agreed with Japan on Saturday to reduce trade barriers and said it would consider sanctions against any of its members who do not comply with free-trade agreements on time....		Banks, SBP reserves up significantly KARACHI, Aug 25: Despite shifting of 30 per cent load of oil import payment to the private sector, the reserves of both the commercial banks and State Bank increased significantly....

Kitchen items witness modest increase in prices ISLAMABAD, Aug 25: The Sensitive Price Index (SPI) recorded a modest increase of 0.29pc during the week ended Aug 24, 2007 over the previous week, according to Federal Bureau of Statistics (FBS) data released here on Saturday....		KPT takes special cargo handling measures KARACHI, Aug 25: After the collapse of berth No 10 and 14 the Karachi Port has adopted measures to ensure zero waiting time for ships through cargo handling on a fast track....

China swaps lists for services trade ISLAMABAD, Aug 25: Pakistan and China have exchanged list of areas to be offered for services providers under the aegis of the already operational free trade agreement (FTA)....		CFS rates touch two-year low KARACHI, Aug 25: The CFS rates on the Karachi Stock Exchange last week dipped to a two-year low of 10.66 per cent as demand for funds sharply fell amid investors’ reluctance to make fresh commitments in an uncertain market....

Free import of cars suggested ISLAMABAD, Aug 25: The overseas Pakistanis have asked the government to revise the trade policy for allowing import of used cars without any restriction of age....		Rail project LUSAKA, Aug 25: Zambian President Levy Mwanawasa and his Malawian counterpart launched a long-delayed joint rail project Saturday that is expected to help boost trade in southern Africa, state radio said....

Buying spree continues on cotton market KARACHI, Aug 25: Physical activity on the cotton market on Saturday was fairly active as spinners and mills continued building up long positions at the current levels....		Ogra cuts dealers’ commission KARACHI, Aug 25: The Oil and Gas Regulatory Authority (Ogra) has reduced the petroleum dealers’ commission by 39 paisa per litre on August 24. Last year in March, dealers’ commission was reduced by 40 paisa per litre....

Rs3.4bn raised from five new services ISLAMABAD, Aug 25: The Federal Board of Revenue (FBR) has raised more than Rs3.427 billion revenue from five additional services, which were brought into the net of federal excise duty (FED) last year....		Russia says French nominee for IMF lacks skills LONDON, Aug 25: Russia’s executive director at the International Monetary Fund (IMF) has said that former French finance minister Dominique Strauss-Kahn lacks the skills needed to be the next IMF managing director, the Financial Times reported on Saturday....

Stricken German bank expected to be sold FRANKFURT, Aug 25: Stricken German state lender SachsenLB is expected to be sold this weekend to another German state bank, Horst Metz, the finance minister of Saxony, said on Saturday....		China resents restrictions BEIJING, Aug 25: China has expressed serious concern at a recent move by Argentina to impose restrictions on Chinese goods, state media said on Saturday....

Slump in global economy to hit crude markets RIYADH, Aug 25: The evolving dynamics of global economy is starting to impact the crude markets. With the world oil demand projected by various stakeholders falling into a still more widening...		New York cotton ends slightly lower NEW YORK, Aug 25: Cotton futures finished with small losses on Friday after trading in a...

Dubai gold sales value up 33pc DUBAI, Aug 25: Dubai gold sales rose 33 per cent in value in July compared with the year-ago period despite higher prices as buyers grew accustomed to the greater costs, an industry executive said on Saturday....		Euro gains, yen weak as market resumes risk-taking NEW YORK, Aug 25: The dollar fell against the euro on Friday while the yen weakened further as many investors switched back into risk-taking mode amid calmer global financial markets....

Canada announces surplus budget OTTAWA, Aug 25: Canada’s finance ministry on Friday announced that the federal budget surplus for fiscal year 2007-2008 is larger than expected given the country’s strong economic growth....		Yemen govt oil output drops 42 per cent SANAA, Aug 25: The Yemeni government''s share of oil output declined by 42 percent in the first half of this year, posing a challenge to the country''s economic growth, a senior official said on Saturday....