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October 03, 2007 Wednesday Ramazan 20, 1428 Refinancing allowed on textile LCs up to June 30 KARACHI, Oct 2: Textile exporters will enjoy the cheaper loans under the defunct Long Term Financing for Export Oriented Projects (LTF-EOP) scheme but the facility will remain limited to letters of... Imports of frozen meat, vegetables double via Wagha LAHORE, Oct 2: The import of fresh vegetables and frozen meat from India through Wagha, on any given day, has doubled after the two countries allowed cross-border movement of trucks for transportation of cargo from Oct 1....   Cement sales rise 35pc in July-Sept KARACHI, Oct 2: Sales of cement for the first quarter July-Sept 2007 increased 35 per cent to 7.29 million tons, compared with 5.42 million tons in the corresponding quarter of last year.... Pakistan loses edge in global citrus market ISLAMABAD, Oct 2: A host of managerial issues have severely damaged the prospects of Pakistan to enjoy comparative edge over other countries in the global citrus market.... Dollar higher against euro LONDON, Oct 2: The dollar continued to recover on Tuesday from its record low against the euro, boosted by positive trading on Wall Street and European interest rate decisions later this week, dealers said.... Narrow base hampering export potential KARACHI, Oct 2: Pakistan’s exports remain vulnerable and shaky as these remain confined to hardly three dozen items and a narrow base of less than two dozen international markets despite all... Russia threatens to cut gas to Ukraine MOSCOW, Oct 2: Russian gas monopoly Gazprom warned on Tuesday it would cut gas supplies to Ukraine, which transports 80 per cent of Russian gas supplies to western Europe, if Kiev... Oil prices shed more than $1 LONDON, Oct 2: World oil prices tumbled by more than a dollar on Tuesday as traders feared that slower US economic growth could dent future crude demand.... Stocks continue upward drive KARACHI, Oct 2: Stocks on Tuesday remained in a bullish frame of mind and maintained their upward drive on active follow-up support in bank, cement and oil shares as investors ignored... Raise in LPG base price for October shelved ISLAMABAD, Oct 2: The government on Tuesday decided to avoid any increase in the base price of liquefied petroleum gas (LPG) for the month of October.... PS achieves record sales KARACHI, Oct 2: Pakistan Steel recorded the highest ever sales figure of Rs9.301billion during the third quarter of July-September 2007, which is higher than the budgeted target of Rs9.282 billion.... US shipment BEIJING, Oct 2: China has found poisonous bacteria in a shipment of frozen sardines prepared in the US and shipped by a Japanese trading company, state media said on Tuesday.The... Cotton prices up on active trading KARACHI, Oct 2: Firm conditions were again witnessed on the cotton market on Tuesday as prices were quoted higher by Rs25 in physical trading amid an actively traded session.... EU hopes to ink new energy deal with Africa LISBON, Oct 2: The European Union hopes to finalise soon a new energy deal with Africa, also cultivated as a supplier of oil by China and the United States, the EU’s Energy Commissioner said on Tuesday.... Mutual funds switching away from US LONDON, Oct 2: The bursting of US housing and mortgage market bubbles has suddenly been replaced by emerging markets inflating, and world equities have got pumped up into the bargain.... Indian sugar sales to Russia likely LONDON, Oct 2: Recent freight enquiries to move raw sugar from India to the Black Sea have turned the spotlight on prospects for the start of Indian sugar exports to Russia.... IMF urges Romania to tighten fiscal plans BUCHAREST, Oct 2: The International Monetary Fund urged Romania on Tuesday to plan fiscal policies better in the longer term in order to offset political and economic risks to sustainable growth.... US firm set to ink joint venture in China CHICAGO, Oct 2: Cooper Industries Ltd, a maker of electrical products and tools, on Tuesday announced a joint venture with a Chinese maker of power equipment to broaden its product offerings.... Karachi Port operations KARACHI, Oct 2: Eight ships to load clinker, molasses and ethanol are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Property prices go up in China BEIJING, Oct 2: The Chinese government has admitted to failing to curb soaring home prices, blaming local officials for not doing enough to ensure sufficient housing supply, state media said on Tuesday.... Morgan Stanley to trim 600 jobs NEW YORK, Oct 2: Morgan Stanley said on Tuesday it is scaling back its residential mortgage business and cutting nearly 600 jobs globally as it repositions to deal with turmoil in the housing-related credit sector.... Steel standards KARACHI, Oct 2: The Pakistan Steel Re-Rolling Mills Association (PSRMA) has pointed out certain flaws in the proposed Standardisation of Steel Policy, says a press release.... Asian stocks surge HONG KONG, Oct 2: Asian stocks surged on Tuesday taking a slew of regional bourses to record highs as investors put aside concerns about US economic prospects after a strong rally on Wall Street.... Malaysian palm oil slips KUALA LUMPUR, Oct 2: Malaysian crude palm oil futures lost almost 2 per cent on Tuesday to hit a two-week low as softening prices of rival soyabean oil and crude weighed on the market.... European shares higher LONDON, Oct 2: Europe’s main stock markets rallied on Tuesday after Wall Street hit a record closing high overnight and Japanese share prices struck two-month peaks on easing credit concerns linked to the US housing crisis, dealers said.... Gold falls LONDON, Oct 2: Gold prices fell more than 2 per cent on Tuesday as a dollar rise prompted investors to take profits from the metal’s 28-year high, but analysts said the upward trend remained intact....

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