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September 06, 2007 Thursday Sha'aban 23, 1428 Plan to do away with regulatory hurdles ISLAMABAD, Sept 5: The government is contemplating a set of proposals to do away with a number of existing regulatory hurdles which are creating problems in increasing export of various products.... Delayed release of sugar stocks causes Rs12bn loss ISLAMABAD, Sept 5: The national kitty suffered a loss of Rs10 to Rs12 billion this year owing to delayed offloading of sugar stocks lying with the Trading Corporation of Pakistan (TCP), besides it deprived consumers of cheap sweetener, it is learnt....   Customs detain buses suspected of Indian origin KARACHI, Sept 5: The customs authorities have detained 15 buses imported from Sharjah (UAE) on the suspicion of being of Indian origin. The importer has been asked to provide necessary details... Equity prices shoot up on fresh buying KARACHI, Sept 5: Stocks on Wednesday maintained their upward drive boosted by reports that the talks on Musharraf-Benazir power sharing formula in Dubai were close to a deal as major irritants had been sorted out.... Tunisia eyes joint ventures in textile, IT ISLAMABAD, Sept 5: Tunisia is keen to have joint ventures with Pakistan in textile, information technology, science and technology and food processing sectors.... US pending home sales plunge NEW YORK, Sept 5: Pending sales of existing US homes plunged by a record 12.2 per cent in July, and private employers hired the fewest workers in more than four years... Oil stays firm amid storm, Opec concerns LONDON, Sept 5: World oil prices steadied on Wednesday, with support from the ongoing US Atlantic hurricane season and widespread expectations that Opec will freeze its output next week, dealers said.... 4 companies announce financial results KARACHI, Sept 5: The market is in the midst of reporting season. Most of the heavyweights have already announced their financial figures. In the wave of smaller, nondescript companies; a few could hold market interest.... Duty relief for import of vehicles for EPZs ISLAMABAD, Sept 5: The Federal Board of Revenue (FBR) has exempted customs duty and taxes on import of vehicles for manufacturers of export processing zones (EPZs).... Dollar falls LONDON, Sept 5: The dollar fell sharply against the euro on Wednesday after figures showed turmoil in the US mortgage market pushed pending home sales in July down to their lowest level in almost six years.... Oil field TEHRAN, Sept 5: Iran and Belarus on Wednesday signed a deal worth an initial $250 million to develop an oil field in southwest Iran, the latest sign of the expanding relationship between the two US foes.... Iraq economic growth BAGHDAD, Sept 5: Improved security is boosting Iraq’s war-ravaged economy which is heading for growth of more than six per cent this year, a senior US official said on Wednesday, supporting IMF projections.... US plan for Pacific free trade zone opposed SYDNEY, Sept 5: Japan and other Asia-Pacific countries on Wednesday expressed reservations over a bold US proposal to create a vast free-trade zone involving 21 Pacific basin economies, an official said.... Zimbabwe running out of bread HARARE, Sept 5: Zimbabwe could soon face bread shortages after the country’s major producer said it was left with only two days of supplies, a state-run newspaper reported on Wednesday.... Cotton prices fall on hasty selling KARACHI, Sept 5: Cotton market on Wednesday remained under pressure on Wednesday as ginners further lowered their asking prices owing to steady arrivals of phutti.... APEC declines Indian request for membership SYDNEY, Sept 5: India is among a dozen nations set to remain out in the cold after foreign and trade ministers of the Asia-Pacific grouping declined on Wednesday to discuss expanding the 21-member club, an official said.... Growth forecasts for US, eurozone lowered PARIS, Sept 5: The OECD lowered its growth forecasts for the US and eurozone economies on Wednesday and warned that world prospects were “clearly less buoyant” because of financial market instability.... Chinese lead-tainted paint takes shine off Mattel toys WASHINGTON, Sept 5: The world’s largest toy maker Mattel has announced its third mass recall in weeks amid fears that 848,000 Chinese-made Barbie and Fisher Price toys could be tarnished with lead-tainted paint.... Lending rate unchanged OTTAWA, Sept 5: The Bank of Canada held its key lending rate at 4.50 per cent on Wednesday, noting economic growth outside North America seemed “slightly stronger than anticipated,” despite a US housing crunch.... Asian stocks close mixed HONG KONG, Sept 5: Asians stocks closed mixed on Wednesday with a rally on Wall Street overnight failing to inspire investors, who remain wary over the state over the United States economy.... European stocks fall as credit fears return LONDON, Sept 5: European stock markets sank sharply into the red on Wednesday as concerns returned about the global economic impact of the US home loan crisis, dealers said.... Palm oil prices up KUALA LUMPUR, Sept 5: Malaysian crude palm oil futures rose 1.5 per centon Wednesday as higher prices of rival soybean oil and crude oil lifted the market, dealers said....

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