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September 18, 2007 Tuesday Ramazan 05, 1428 Condensate and gas discovered in Sindh KARACHI, Sept 17: Pakistan Petroleum Limited (PPL), the operator of Block 2568-13 (Hala), and its joint venture partner Mari Gas Company Limited (MGCL) have announced the discovery and successful testing of... Rs157bn revenue collected from oil, gas ISLAMABAD, Sept 17: The government has collected highest-ever revenue on oil and gas, amounting to about Rs157 billion during the 2006-07 financial year.The amount included general sales tax (GST) collection of... Tools show ISLAMABAD, Sept 17: A 15-member Pakistani delegation of engineering manufacturing firms has left for Germany to participate in “European Machine Tools Show 2007” (EMO).... Govt reassessing role in price maintenance ISLAMABAD, Sept 17: The government is reviewing its role in procurement, storage, distribution, import and export and price maintenance with a view to ensure greater participation of the private sector in the business.... Eurozone trade BRUSSELS, Sept 17: The eurozone trade surplus shrank significantly in July from June, with exports and imports rising, according to official EU data released on Monday.The... Stocks gain 12 points in cheerless trading KARACHI, Sept 17: Trading on the share market on Monday resumed on a cheerless note amid fractional price changes as leading investors kept to the sidelines apparently awaiting the revival of institutional support.... Rs3 per kg increase in LPG price ISLAMABAD, Sept 17: The liquefied petroleum gas companies on Monday increased the price of gas by Rs3 per kg across the country despite a recent downward revision made in the LPG base price by the Oil and Gas Regulatory Authority (Ogra).... BT cotton seeds to yield over 5m bales this season KARACHI, Sept 17: More than five million bales of cotton this season -about 30 to 40 per cent of expected 14 to 15 million bales cotton output this autumn - is... Oil price climbs to record high LONDON, Sept 17: The price of New York oil climbed back on Monday towards its record high above $80 a barrel, which it reached last week on the back of tight supplies of crude in the United States.... IDBP made public limited company ISLAMABAD, Sept 17: President General Pervez Mushrraf on Monday re-organised and converted Industrial Development Bank of Pakistan (IDBP) into a public limited company through a presidential ordinance.... Run on UK mortgage lender LONDON, Sept 17: Hundreds of panicky depositors converged on British branches of Northern Rock for a third day on Monday to grab savings from the beleagured mortgage lender, the latest victim of a global credit crunch.... Euro steady LONDON, Sept 17: The euro steadied against the dollar on Monday on the eve of a US Federal Reserve policy meeting, but the pound fell on British banking sector woes.... US grant for coal power project Islamabad, Sept 17: The US Trade and Development Agency (USTDA) has awarded $810,000 grant to Habibullah Energy Limited (HEL) to address critical power shortage and promote energy security in Pakistan under the US-Pakistan Strategic Dialogue.... Accord on joint trade body with Bahrain AL-KHOBAR (Saudi Arabia), Sept 17: Pakistan and Bahrain have agreed to set up a joint business council.The agreement to set up the council was signed by Pakistan’s ambassador in Manama Iftikhar... Chinese help sought for new shipyards BEIJING, Sept 17: Adviser to prime minister on Finance Dr Salman Shah held important meetings with key Chinese bankers, financial institution and shipbuilding companies for cooperation in setting up two giant shipyards in Pakistan during his visit to China.... China steps up checks on merger deals BEIJING, Sept 17: China’s securities regulator said on Monday it was setting up a panel to scrutinise listed firms’ merger and acquisition activities, as part of efforts to create a more transparent and efficient market.... Brisk buying continues on cotton market KARACHI, Sept 17: Trading activity on the cotton market on Monday was maintained on the higher side as spinners and mills covered positions at the falling prices and about 20,000 bales changed hands below Rs2,900 per maund.... Karachi Port operations KARACHI, Sept 17: Three ships carrying containers and to load naphtha are due to arrive at the outer anchorage on Tuesday, according to KPT sources.Berthing activity at the wharves was maintained... Port Qasim KARACHI, Sept 17: Brisk berthing activity was witnessed at port where four ships scheduled to load and unload containers, chemicals and coal were accommodated berths during the last 24 hours, said a PQA press release on Monday.... China’s inflation BEIJING, Sept 17: China’s inflation in 2007 is expected to hit 4.2 per cent, well above a government target, due to soaring food prices, the Asian Development Bank said on Monday.... Qatar to buy stake in London bourse NEW YORK, Sept 17: Qatar is near a deal to buy a stake in the London Stock Exchange from Nasdaq Stock Market, which would propel the emirate into the vanguard of global financial markets, The Wall Street Journal reported on Monday.... European shares tumble LONDON, Sept 17: Europe’s main stock markets wobbled for a second straight trading day on Monday as banking share prices extended heavy losses led by troubled Northern Rock.... Asian stocks close lower HONG KONG, Sept 17: Asian stocks closed mostly lower on Monday amid renewed fears of an international credit crunch after hundreds of panicky depositors converged on British bank Northern Rock.... Palm oil prices higher KUALA LUMPUR, Sept 17: Malaysian crude palm oil futures closed higher on Monday due to rising soybean oil, but pared some of the gains after export estimates from a cargo surveyor disappointed the market....

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