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September 26, 2007 Wednesday Ramazan 13, 1428 China to help develop new variety of cottonseed KARACHI, Sept 25: The government is exploring to acquire biotechnology from Chinese companies for developing virus-cum-pest-resistant genetically-modified cottonseeds, and the officials of the ministry of agriculture are said to be in negotiations with few such firms.... Worrying time for small investors in HBL KARACHI, Sept 25: It would be unfortunate if the 500,000 small investors who had subscribed Rs23,500 for 100 shares in Initial Public Offering (IPO) of Habib Bank Limited (HBL) fail to... Monetary assets grow by record Rs658bn KARACHI, Sept 25: Under the tight monetary policy, the monetary growth was much higher than the desired and the expected level in the year ended June 2007.... All customs collectorates become model units ISLAMABAD, Sept 25: The Federal Board of Revenue (FBR) has converted all customs collectorates into model collectorates under the World Bank funded project of reforms of the tax administration.... India urged to remove non-tariff barriers LAHORE, Sept 25: The Lahore Chamber of Commerce and Industry has stressed the need for removal of non-tariff barriers and easing of visa restrictions for boosting bilateral trade with India.... PEL granted oil, gas exploration licence ISLAMABAD, Sept 25: The government on Tuesday granted three petroleum exploration licences to the Petroleum Exploration Limited (PEL) for making an investment of $20.71 million in oil and gas exploration in Sindh.... LPG producers asked to maximise production KARACHI, Sept 25: The Ministry of Petroleum and Natural Resources on Tuesday asked the liquefied petroleum gas producers to maximise their production to ensure easy availability of the commodity during Ramazan and in winter to lessen the hardships of the consumers.... SBP asked to rescue towel exporters KARACHI, Sept 25: The Towel Manufacturers Association (TMA) has urged the State Bank to rescue exporters affected by sudden wrap up of the Long Term Financing Scheme (LTFS) in the latest trade policy.... Profit-taking halts bull-run on stock market KARACHI, Sept 25: The share market on Tuesday passed through a consolidation phase as investors took stock of their inventories before launching a new buying operation after the apex court ruling on the president’s dual office.... Oil prices slide as supply fears ease LONDON, Sept 25: World oil prices tumbled by about one and a half dollars on Tuesday after their recent record run as US supply concerns eased, analysts said.... 165MW power plant ISLAMABAD, Sept 25: Attock General Limited (AGL) on Tuesday achieved financial closure for its 165MW thermal power plant to be established at Morgah, Rawalpindi. The power plant is expected to start its commercial operation by August 2008.... Buying spell continues on cotton market KARACHI, Sept 25: Cotton market on Tuesday maintained firm trend as spinners and mills continued to build up long positions at the current levels fearing fresh increase in prices.... India eases overseas investment rules NEW DELHI, Sept 26: India’s central bank on Tuesday increased the amount local companies and mutual funds can invest overseas in a move towards making it easier to convert the rupee into foreign currency.... Karachi Port operations KARACHI, Sept 25: Nine ships carrying steel coils, containers and general cargo are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, Sept 25: Four ships to load/offload containers, chemicals and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.... WTO to be marred by disputes without a deal BRUSSELS, Sept 25: The World Trade Organisation could get swamped by a wave of trade disputes needing to be refereed if its members fail to agree a global WTO deal, a senior EC official warned on Tuesday.... PTCL mulls abandoning of un-metered internet access ISLAMABAD, Sept 25: Pakistan Telecommunication Company Ltd (PTCL), the telecommunications’ converged services carrier provider, plans to start multi-metering for charging internet access, which may significantly increase the cost of internet use.The... Euro breaks another record LONDON, Sept 25: The euro smashed another record on Tuesday against a steadily weakening US currency, rising to $1.4154 on renewed fears for the health of the US economy, the world’s largest.The... Credit crunch fuels US home market woes WASHINGTON, Sept 25: The ailing US property market got more bad news on Tuesday as an industry report showed existing home sales fell 4.3 per cent in August and the glut of unsold properties rose further.... Asian stocks mostly lower HONG KONG, Sept 25: Asian stocks closed mostly lower on Tuesday as investors took profits after a strong rally at the start of the week but Australian shares bucked the trend to post a record close, dealers said.... Palm oil prices KUALA LUMPUR, Sept 25: Malaysian crude palm oil futures ended 0.7 per centlower on Tuesday as dealers shrugged off strong export growth to book profits a day after the market hit a near four-month high.... Gold eases LONDON, Sept 25: Gold slipped on Tuesday as investors took profits from its recent rally to 28-year highs, but overall sentiment stayed bullish due to dollar weakness....

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