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September 12, 2007 Wednesday Sha'aban 29, 1428 Food inflation up 8.62pc in August ISLAMABAD, Sept 11: Food inflation geared to 8.62 per cent in August 2007 over the same month last year owing to persistent increase in price of essential kitchen items, says official figures of Federal Bureau of Statistics (FBS) issued on Tuesday.... Islamic banks urged to raise market share KARACHI, Sept 11: State Bank Governor Dr Shamshad Akhtar has advised Islamic banks to grow annually at rate of 40 to 50 per cent to raise its share from 3.5... Local companies holding board meetings abroad KARACHI, Sept 11: From Paris to Athens and London to Luxembourg, Pakistani companies, mainly banks are increasingly holding meetings of their board of directors outside Pakistan.... Attempt to import Indian buses via UAE foiled KARACHI, Sept 11: The physical examination of the CNG buses imported from Sharjah, UAE, by a private party has reconfirmed the Indian origin of the buses, a source told Dawn adding... Islamic bankingprospects bright in Pakistan: Asia Finance Conferences KARACHI, Sept 11: 80 per cent Pakistanis want Islamic products with all the facilities that a conventional banking product provides, including the same return on products.... Donors show concern over crumbling infrastructure ISLAMABAD, Sept 11: Three major international donors have expressed serious concern over the crumbling infrastructure in Pakistan and blamed both public and private sectors for that.... Plan chalked out to control prices in Ramazan KARACHI, Sept 11: As the city government plans to set up 18 wholesale price outlets of fruits and vegetables besides 25 mobile units to ensure provision of these commodities during Ramazan,... Stocks manage modest gains in mixed trading KARACHI, Sept 11: The share market on Tuesday extended the overnight gains but late profit-selling on selected counters pushed it well below the session’s highs amid brisk two-way activity.... Trade deficit widens by 23.9pc ISLAMABAD, Sept 11: Pakistan’s trade deficit witnessed a robust growth of 23.97 per cent to $1.270 billion in August 2007 as against $1.025 billion over the same month of the last year.... FBR policies explained KARACHI, Sept 11: Officials of the Regional Tax Office, Karachi, have been inter-acting with various trade bodies to facilitate them in filing of their income tax returns on the new format.... Clarification KARACHI, Sept 11: Referring to a report headlined ‘PIA to float Rs25 billion Sukuk bonds’ which appeared in Dawn’s Sept 8 issue, a press release says that PIA is in the process of raising Rs2 billion from three years Sukuk bonds.... Euro higher LONDON, Sept 11: The euro skirted its record high against the dollar here on Tuesday as the greenback suffered from concern over the health of the US economy and expectations of a cut in US interest rates.... Oil prices slip NEW YORK, Sept 11: Oil fell slightly on Tuesday after Opec agreed to a small increase in production starting November 1 in a bid to quell consumer nation concerns about high prices and falling fuel inventories.... Trading gets slow on cotton market KARACHI, Sept 11: Trading activity on the cotton market on Tuesday slowed down as some of the leading ginners held on to their unsold positions in an effort to push prices higher.... Slic pays claims worth Rs3.99bn KARACHI, Sept 11: The State Life Insurance Corporation (Slic) has paid Rs3.99 billion as individual and group life claims to policyholders and their families during the first half of 2007.... US economy WASHINGTON, Sept 11: Federal Reserve chairman Ben Bernanke said on Tuesday the large US balance of payments deficit “cannot persist indefinitely” but for now is not an unduly large burden for the American economy.... Karachi Port operations KARACHI, Sept 11: Six ships carrying containers, chemicals and coal are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Car sales in India up NEW DELHI, Sept 11: Car sales in India jumped 18 per cent in August from a year ago, led by India’s biggest carmaker Maruti Udyog and helped by heavy discounts, according to industry figures on Tuesday.... ICI drive KARACHI, Sept 11: ICI Pakistan Limited launched a nationwide campaign on the hazards of ‘needle-stick injury’.... Rating KARACHI, Sept 11: The JCR-VIS Credit Rating Company has assigned a preliminary medium to long-term rating of ‘single A minus’ to the proposed Sukuk issue of Rs500m of Shahmurad Sugar Mills.... Opec to pump 0.5m bpd more from November VIENNA, Sept 11: Opec exporters agreed Tuesday to pump an extra 500,000 barrels of oil a day to cool near-record crude prices in an apparent victory for Saudi Arabia over its reluctant partners.... Asian stocks close mostly higher HONG KONG, Sept 11: Asian stocks closed mostly higher on Tuesday with bargain hunters moving into the markets on the back of recent sharp selling and following calmer trade on Wall Street overnight....

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