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September 04, 2007 Tuesday Sha'aban 21, 1428 Banks refuse fresh credit to finance cotton KARACHI, Sept 3: Textile mill owners are complaining of problems in getting fresh credit ceilings from banks for financing cotton this season as a large number of textile companies defaulted on payment of their outstanding loans.... Release of sugar, wheat stocks proposed ISLAMABAD, Sept 3: Two federal ministers have called upon the prime minister and the Sindh and Punjab governments to take immediate steps for release of official stocks of wheat, sugar and dal channa in the market to control rising food prices....   LPG pricing formula may be challenged KARACHI, Sept 3: The LPG Association of Pakistan is considering filing a petition in the Supreme Court if the government’s pricing policy is not reversed and relief is not provided to the common man.... Govt raises Rs93bn from oil, gas surcharges ISLAMABAD, Sept 3: The government earned a record Rs93bn in surcharges and royalties on oil and gas during the last fiscal year, which was 94pc more than the original estimates of Rs48bn, according to the latest official data.... Stocks post modest gains amid light trading KARACHI, Sept 3: The share market on Monday resumed trading on a dull note as leading investors remained conspicuous by their absence apparently awaiting fresh positive developments on the political front.... SECP issues two draft ‘codes’: Analysts, asset managers KARACHI, Sept 3: The Securities and Exchange Commission of Pakistan (SECP) on Monday invited comments from the ‘general public’ on two separate ‘drafts of codes of conduct’.... Oil prices climb on hurricane fears LONDON, Sept 3: World oil prices climbed on Monday as traders worried that Hurricane Felix might yet force the closure of vital oil rigs in offshore Mexico.... MoU signed to build fertiliser terminal ISLAMABAD, Sept 3: A memorandum of understanding (MoU) was inked here on Monday between Port Qasim Authority (PQA) and a consortium of Fauji Foundation, Akbar Group and Portia Management Services of... Base price of LPG up by Rs557 per ton ISLAMABAD, Sept 3: The Oil and Gas Regulatory Authority (Ogra) has increased the base price of liquefied petroleum gas (LPG) by about Rs557 per ton (1.6pc) with immediate effect.... HBFC scheme for small builders KARACHI, Sept 3: The House Building Finance Corporation (HBFC) has launched a Small Builders Finance scheme to meet the housing shortage being faced by middle and lower middle segments of the society.... Japan firm to invest in new steel mill KARACHI, Sept 3: Japan’s Metal One Corp., a subsidiary of Mitsubishi Corp, will have a 26 per cent stake in Aisha Steel Mills (ASM), a joint venture firm being set up in Pakistan to meet growing demand, a venture official said.... Local demand lessens risk to Chinese economy GENEVA, Sept 3: China’s booming export-driven economy remains vulnerable to any changes in Western consumption patterns but its burgeoning domestic market could lessen this risk, the World Economic Forum said on Monday.... ABN to lend Rs500m to microfinance institutions LAHORE, Sept 3: ABN Amro plans to lend Rs500 million market rates to micro-finance institutions to support the micro-finance market in Pakistan.... Euro steady LONDON, Sept 3: The euro was stable against the dollar Monday as the US Labour Day holiday kept trading volumes low and with central bank rate decisions later in the week overshadowing economic data.... Prices stable on cotton market KARACHI, Sept 3: Steady conditions were witnessed on the cotton market on Monday as spinners lifted all the lots offered below Rs3,000 per maund, notably from the Sindh ginneries.... Industrial estate for women being set up KARACHI, Sept 3: An exclusive industrial estate for women entrepreneurs is being set up at the Small Scale Industrial Estate on Superhighway.... NBP increases lockers’ rent KARACHI, Sept 3: The National Bank of Pakistan has raised the lockers rent six times from this month.... New power transformer making facility KARACHI, Sept 3: Governor Sindh Dr Isharatul Ibad inaugurated the new 220KV power transformer manufacturing facility of Siemens Pakistan at its industrial complex in Karachi.... ICCI team off to China for talks under FTA ISLAMABAD, Sept 3: A trade delegation of Islamabad Chamber of Commerce and Industry (ICCI) has left for China to explore market access for various products under the free trade agreement (FTA).... Tunisia to help develop textile sector ISLAMABAD, Sept 3: Pakistan and Tunisia will join hands in development of textile industry besides cooperation in other areas, said Federal Minister for Textile Industry Mushtaq Ali Cheema on Monday.... HK’s retail sales slow HONG KONG, Sept 3: Hong Kong retail sales rose 14.2 per cent year-on-year in July to 21.3 billion Hong Kong dollars ($2.73 billion), a slight fall from June’s 14.3pc... Date extended ISLAMABAD, Sept 3: The Privatisation Commission (PC) has extended the date for submission of expressions of interest (EOI) and statement of qualification (SOQ) up to Sept 30.... Palm oil prices KUALA LUMPUR, Sept 3: Malaysian crude palm oil futures jumped 2.2 per cent on Monday as firmer prices of rival soybean oil and strong exports unveiled by cargo surveyors revived bullish sentiment.... Karachi Port operations KARACHI, Sept 3: Ten ships carrying palm oil, logs and to load ethanol and other commodities are due to arrive at the outer anchorage on Tuesday, according to KPT sources....

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