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September 22, 2007 Saturday Ramazan 09, 1428 Banks face heavy Eid withdrawals KARACHI, Sept 21: Heavy withdrawal from banks since the beginning of Ramazan put the money market under serious liquidity crunch forcing the banks to borrow from the discount window of the State Bank.... Textile body demands suspension of cotton export KARACHI, Sept 21: Leaders of All Pakistan Textile Association (APTA) want immediate suspension of cotton export till the final confirmation of cotton production data is available or else they have predicted a repeat of wheat crisis-like situation.... Govt urged to check smuggling of flour MULTAN, Sept 21: Although the federal government announced to import one million tons of wheat and the provinces increased release of stocks to mills, prices of wheat and wheat flour have not declined.... Gold prices touch fresh peak of Rs13,791 KARACHI, Sept 21: The local gold prices continued their upward march hitting fresh peak of Rs13,971 per 10 grams in sympathy of international bullion prices which on Friday touched new highs... Non-textile items export up by 10pc in 2 months ISLAMABAD, Sept 21: The export of non-textile products rose by 10.39 per cent to $1.073 billion during the first two months (July-Aug) of the current fiscal as against $0.972... 6.53 per cent fall in oil import bill ISLAMABAD, Sept 21: The country’s import bill of oil declined by 6.53 per cent to $1.344 billion during July-August period of fiscal year 2007-08 as against $1.438... Centres to help taxpayers file returns ISLAMABAD, Sept 21: Member Tax Reforms Habib Fakhruddin has said that facilitation centres will be established across the country to help the taxpayers in filing tax returns.... Euro all-time high LONDON, Sept 21: The euro raced to an all-time high of $1.4120 on Friday, with analysts predicting new records in the weeks ahead amid expectations of more interest rate cuts by the Federal Reserve.... Stocks post modest rise in low-key trading KARACHI, Sept 21: Trading volume on the share market on Friday shrank to a modest total as investors kept to the sidelines most of the time apparently having an overview of... Oil prices rise on storm concerns LONDON, Sept 21: The price of London Brent oil hit another all-time high on Friday on US storm concerns at the end of a record-breaking week which saw New York crude soar beyond $84 per barrel.... PSO tenders for Oct-Jan delivery SINGAPORE, Sept 21: Asian fuel oil prices surged to near record-highs on Friday, as cargo premiums and crack spreads strengthened, amid heavy demand from Vietnam and Pakistan in a tightly supplied market.... World Bank plans to simplify loans WASHINGTON, Sept 21: World Bank President Robert Zoellick wants the poverty-fighting institution to be more useful to the world’s maturing economies, a diverse group that includes economic powerhouses like China.... Trading in HBL shares from Monday KARACHI, Sept 21: The Karachi Stock Exchange has announced that trading in shares of Habib Bank Limited would commence from next Monday.... Bullish trend on cotton market KARACHI, Sept 21: Cotton market on Friday maintained uppish leaning as spinners and mills were not inclined to take even a technical breather and lifted all the lots offered by the ginners.... OECD survey calls for cut in farm aids LONDON, Sept 21: In what ought to be regarded as a welcome news in most of agriculture-producing developing countries the OECD’s first Economic Survey of the European Union released earlier this... Karachi Port operations KARACHI, Sept 21: Five ships carrying containers and steel scrap are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Indian inflation falls NEW DELHI, Sept 21: India’s annual inflation rate has fallen to a near five-year low, official data on Friday showed, but soaring global crude prices threaten to push the cost-of-living higher, economists said.... Aluminium sector LONDON, Sept 21: China’s ravenous appetite for scrap metal has sucked the market dry in Europe, leaving aluminium smelters under threat of closure as they struggle to find material, industry sources said.... Wind power market BEIJING, Sept 21: China could become world’s top wind power market in three to five years, but will grow faster if it reforms its subsidy system, executives of major wind turbine maker Vestas said on Friday.... Asian shares mostly down HONG KONG, Sept 21: Asian shares closed mostly down on Friday as continuing worries about the US economy overshadowed sentiment, and investors remained cautious ahead of key US data out next week.... Palm oil prices KUALA LUMPUR, Sept 21: Malaysian crude palm oil futures closed 1.4 per cent higher on Friday, as strong festival demand and strengthening soyaoil prices boosted the market.... European shares higher LONDON, Sept 21: Europe’s main stock markets rose on Friday, driven higher by the automaking sector despite overnight losses on Wall Street, analysts said....

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