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September 19, 2007 Wednesday Ramazan 06, 1428 Remittances increase by 21.3pc in 2 months KARACHI, Sept 18: The inflow of remittances further increased and overseas Pakistanis sent just below $1billion during the first two months of the current fiscal.... Top level changes in PTCL KARACHI, Sept 18: Etisalat — the UAE-controlled telecom giant — which holds 26 per cent equity with management rights in the Pakistan Telecommunication Company Limited (PTCL) could not have more forcefully expressed its distaste for the company’s latest financial results.... Experts optimistic about achieving output target: Pest attack on cotton crop MULTAN, Sept 18: Despite severe attacks of mealybug and leave curl virus (LCV) on the cotton crop all over the country, especially in the cotton belt of southern Punjab, the cotton... Riyadh eases visa curbs for businessmen RIYADH, Sept 18: Saudi business leaders on Tuesday welcomed a decision by the Saudi government to facilitate entry visas for foreign businessmen, saying it would boost investments in the kingdom.... Brown backs move to stem British bank panic LONDON, Sept 18: British Prime Minister Gordon Brown defended on Tuesday his government’s decision to intervene to help stop a panicked run on the Northern Rock bank.... Inclusion of Balochistan in ROZs sought ISLAMABAD, Sept 18: Pakistan has proposed a range of amendments to the United States for consideration of the legislation for establishment of Reconstruction Opportunity Zones (ROZs) in the terrorist-prone areas of Pak-Afghan border.... Credit card business growing slowly: SBP KARACHI, Sept 18: Despite massive investment to promote the business of credit cards, the growth in this sector was not attractive as reflected in a report issued by the State Bank on Tuesday.... Slowing UK inflation fuels rate cut hopes LONDON, Sept 18: British 12-month inflation slowed in August, official data showed on Tuesday, leading economists to predict that the Bank of England may soon look to cut interest rates.... Stocks race towards 13,000-level KARACHI, Sept 18: The share market on Tuesday staged a snap rally, pulling itself out from the sluggishness linked to the holy month of Ramazan as a section of leading investors... Market turmoil FRANKFURT, Sept 18: Chief economists at the German public banking association VOeB expect financial market turmoil to cease in the coming weeks and see little overall danger for the German economy, they said.... Fed cuts rate WASHINGTON, Sept 18: The Federal Reserve on Tuesday cut its base federal funds rate a half point to 4.75 per cent in the face of housing and credit market stress.... Dollar firm LONDON, Sept 18: The dollar was little changed against the euro on Tuesday as US Federal Reserve policymakers met in Washington, where they are expected to approve a cut in US interest rates.... Power firms urged to improve efficiency ISLAMABAD, Sept 18: Minister for Water and Power Liaquat Ali Jatoi has directed all the power distribution companies (Discos) to improve efficiency, reduce line losses and bring financial discipline in their companies.... Interim dividend KARACHI, Sept 18: The Pakistan Steel announced here on Tuesday that “it has achieved yet another milestone by declaring and paying for the first time in the history of the corporation an interim dividend of Rs1.00... Active trading on cotton market KARACHI, Sept 18: The cotton market on Tuesday witnessed brisk trading activity as spinners and mills continued to build up long positions at the prevailing levels amid fears of another price flare-up.... Karachi Port operations KARACHI, Sept 18: Six ships carrying tallow, chemicals and to load cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, Sept 18: Three ship carrying containers and diesel oil were accommodated berths at QICT and Fotco Terminal during the last 24 hours, said a PQA press release on Tuesday.... Dutch govt forecasts budget surplus THE HAGUE, Sept 18: The Dutch centre-left government presented its 2008 budget on Tuesday and forecast a surplus in the public accounts for the next four years.... Russian output slows MOSCOW, Sept 18: Industrial production in Russia slowed sharply to 3.8 per cent in August on an annual basis from 7.8 per cent in July, the country’s statistics agency Rosstat said on Tuesday.... US wholesale prices tumble WASHINGTON, Sept 18: US producer prices, a measure of inflation at the wholesale level, fell 1.4 per cent in August, the government said on Tuesday.... Mobile licence DOHA, Sept 18: Telecom giants Vodafone and AT and T are among seven firms bidding for a second mobile phone licence in Qatar, the gas-rich state’s telecommunications regulator said on Tuesday.... Saarc chamber KARACHI, Sept 18: Dr Shahzad Arshad, chairman of textile and ancillary standing committee of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has been appointed life member of the... Asian stocks close lower HONG KONG, Sept 18: Asian stocks closed sharply lower on Tuesday as fears of a global credit squeeze returned to haunt the markets ahead of a probable interest rate cut in the United States.... Gold hits 16-month high LONDON, Sept 18: Gold surged to a 16-month high on Tuesday, with sentiment bullish ahead of an expected interest rate cut by the US Federal Reserve and on record high oil prices, dealers said.... Malaysian palm oil up KUALA LUMPUR, Sept 18: Malaysian crude palm oil futures ended 0.7 per cent higher on Tuesday, just shy of a seven-week high hit the day before as rival soybean oil and crude oil markets rose in Asian trade.... European shares mixed LONDON, Sept 18: Europe’s main stock markets experienced mixed fortunes on Tuesday in cautious trade before a US interest rate decision, as the British banking sector rebounded slightly led by troubled Northern Rock....

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