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September 23, 2007 Sunday Ramazan 10, 1428 Grinding of wheat much higher than consumption KARACHI, Sept 22: Has anyone in the government or the business ever thought why are there about 1,000 flour mills in Pakistan with a total grinding capacity that is about five... Smuggling of LCD TV sets on the rise KARACHI, Sept 22: Smuggled liquid crystal display (LCD) and plasma display panel (PDP) television sets have taken over 80 per cent market because of an average 25 per cent difference in prices as compared with locally assembled sets.... Prices of 14 items go up ISLAMABAD, Sept 22: The Sensitive Price Index (SPI) increased by 0.43 per cent during the week ending September 21, over the previous week, according to the weekly price data released by the Federal Bureau of Statistics (FBS) here on Saturday.... FAO clears Pakistan of locust breeding ISLAMABAD, Sept 22: Food and Agriculture Organisation (FAO) of the United Nations has announced that the summer breading of desert locust in Pakistan and India has almost come to an end.... NOCs issued for five sugar mills KARACHI, Sept 22: The Sindh ministry of industries has given NOC for setting up five sugar mills in the interior -- three in Ghotki district, one in Naushehro Feroze and one in Tando Ghulam Ali.... UK minister hints at raising deposit protection limits LONDON, Sept 22: British Finance Minister Alistair Darling has signalled the government is considering raising the limit on depositor money protected by law, Saturday’s Times newspaper reported.... Raise in Opec output suggested to check prices RIYADH, Sept 22: Oil markets are touching new heights. Significant drop in US crude inventories, shutdown of nearly 200,000 barrels from Alaska’s North Slope and a gathering storm in the Atlantic are causing the current bull run.... China tries to tackle food price inflation BEIJING, Sept 22: China will ensure ample food supply in the coming months to keep prices down, state media said on Saturday, in yet another reaction to shock inflation figures released recently.... Industry in a fix over fall in textile exports KARACHI, Sept 22: The leaders of textile industry seem to be in a fix after noticing a sharp drop in export of textile products and a fall in import of textile... Dubai tea trade up DUBAI, Sept 22: Dubai’s tea trading centre DTCC said on Saturday it was on target to reach a volume of 5.5 million kg this year, up 27.9... IT rules amended ISLAMABAD, Sept 22: The Federal Board of Revenue (FBR) has amended the income tax rules 2002 to facilitate taxpayers.... Belarus slams Russian gas price hike plan MINSK, Sept 22: Belarus signalled on Saturday it was ready for a new gas dispute with Russia as its president said the country would slap higher fees on Russian gas transit to Europe if Moscow raised gas prices for Minsk.... Deadline missed for setting uptax centres ISLAMABAD, Sept 22: The Federal Board of Revenue (FBR) has missed the end-June deadline for establishing 20 tax facilitations centres (TFCs) under the World Bank-funded reforms of tax administration.... $660m loan MUSCAT, Sept 22: Oman signed an agreement on Saturday for a $660 million loan from the Japan Bank for International Cooperation to partly finance a port and dry docks in the Gulf Arab state, the state news agency ONA said.... Spot rate up on cotton market KARACHI, Sept 22: Cotton market finished the weekend session on a firm note as official rate committee increased the official spot rates by Rs50 per maund amid brisk trading.... CFS investment rate up by 5pc KARACHI, Sept 22: After several lean weeks owing to political uncertainty the CFS investment on the Karachi Stock Exchange last week showed an increase of five per cent to meet the... 200m cellphone users in India NEW DELHI, Sept 22: The number of Indian mobile phone subscribers has passed the 200 million mark after the country added another eight million customers last month, industry figures show.... Africa needs funds to combat bird flu ADDIS ABABA, Sept 22: African nations are concerned that a slump in funding from the international community could hamper their efforts to combat bird flu on the continent, officials said.... Soyameal exports up PANAJI (India), Sept 22: India will export a record 4 million tons of soymeal in the season beginning October as high freight rates have made it more competitive, a top industry official said on Saturday.... High oil prices boost Saudi foreign assets RIYADH, Sept 22: Riding on high oil prices, Saudi Arabia’s foreign assets, as managed by the Saudi Arabian Monetary Agency (SAMA) will breach the trillion mark in Saudi Riyals as of 2007, having grown by SR16.17... Dollar stumbles to record low NEW YORK, Sept 22: The dollar stumbled to a record low against the euro on Friday amid market expectations the US Federal Reserve will continue to cut interest rates.... US stocks NEW YORK, Sept 22: US stocks gained ground on Friday as upbeat corporate earnings reports helped extend this week’s powerful rally celebrating a Federal Reserve interest-rate cut.... World oil prices higher LONDON, Sept 22: Crude oil prices surged to all-time highs this week, striking a record peak of $84.10 a barrel in New York owing to heightened concerns over tight supplies in the United States.... ECB chief defends bank’s independence LAUSANNE, Sept 22: European Central Bank chief Jean-Claude Trichet on Friday reaffirmed that the independence of central banks was absolutely essential to ensure their credibility amid renewed political pressure over the ECB’s monetary policy.... NY cotton rises NEW YORK, Sept 22: Cotton futures finished on Friday at a two-month top on speculative fund buying and analysts said the market’s momentum will allow it to punch higher next week.... Gold drops NEW YORK, Sept 22: Gold erased early gains to end lower in New York on Friday as investors locked in solid gains this week after prices surged to record highs on inflation fears and as the dollar slumped....

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