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October 05, 2007 Friday Ramazan 22, 1428 Prices of wheat, flour show no respite KARACHI, Oct 4: The Trading Corporation of Pakistan (TCP) is opening its first tender for import of 100,000 tons of wheat next Monday in the backdrop of reports that wheat prices... Oil jumps above $80 a barrel in New York LONDON, Oct 4: World oil prices bounced back above $80 per barrel in New York on Thursday, reversing earlier losses caused by worries over economic growth and crude demand in the United States, dealers said....   Tax collection falls short of Rs16bn ISLAMABAD, Oct 4: With a major shortfall in revenue collection target in the first quarter, the tax authorities are worried that they may not achieve the annual revenue target of Rs1,025 billion.... Engro signs loan facility for new plant KARACHI, Oct 4: Engro Chemical Pakistan Limited has signed a rupee syndicate loan of Rs18.3 billion and an Islamic US dollar facility worth $150 million marking the financial closure of its... ECB keeps rate steady, still ready to act VIENNA, Oct 4: The European Central Bank remains ready to raise its key rates to help keep a lid on inflation in the 13-nation eurozone, ECB chief Jean-Claude Trichet said on Thursday.... UK pauses interest rate at 5.75pc LONDON, Oct 4: The Bank of England held its key interest rate at 5.75 per cent on Thursday, as the central bank took stock of recent turmoil on world financial markets and a crisis at British lender Northern Rock.... US pays $16bn a year in farm subsidies GENEVA, Oct 4: The United States revealed on Thursday that it had paid out an average of $16 billion a year in subsidies to its farmers between 2002 and 2005.... Stocks strengthen position above 14,000-level KARACHI, Oct 4: The KSE 100-share index on Thursday consolidated well above the coveted level of 14,000 points but analysts fear it may undergo a big technical correction on selling in... Pak Oman Brokerage Service launched KARACHI, Oct 4: A shareholders agreement for the launch of Pak-Oman Brokerage Services Ltd was signed recently at a ceremony in Dubai.... EU urges rate cut in mobile text messages BRUSSELS, Oct 4: The European Commission urged mobile phone operators on Thursday to cut their rates for text messages and data or face price caps like those recently put in place on so-called roaming rates.... Sweden stays competitive STOCKHOLM, Oct 4: Swedish Prime Minister Fredrik Reinfeldt said on Thursday companies in Sweden were staying competitive despite the potentially dampening effects of a currency that has scaled multi-year highs.... Reserves KARACHI, Oct 4: The State Bank of Pakistan (SBP) has notified that the total liquid foreign reserves held by the country stood at $16,120.5 million on Sept 29, 2007.... MNCs plan to increase foreign investment GENEVA, Oct 4: Multinational companies believe their foreign investment will continue to grow over the next three years despite fears about financial instability, according to a UN survey released on Thursday.... Dollar weaker LONDON, Oct 4: The dollar came under renewed pressure on Thursday after a weaker-than-expected factory orders report, reversing earlier gains made against the euro after the European Central Bank held interest rates steady.... Cotton prices ease on larger phutti arrivals KARACHI, Oct 4: Cotton prices on Thursday showed softening tendency as larger than expected arrivals of phutti into the ginneries triggered selling by some of the ginners amid market talk of higher crop estimate.... Kazakhstan seeks investment in new gas pipeline NOVOSIBIRSK, Oct 4: Russian President Vladimir Putin and Kazakh counterpart Nursultan Nazarbayev held talks on Thursday to speed up construction of a key Central Asian gas pipeline, as rivalry over the region’s energy riches intensifies.... Karachi Port operations KARACHI, Oct 4: Nine ships carrying containers and to load cement, clinker and ethanol are expected to arrive at the outer anchorage on Friday, according to KPT sources.... US officials blamed for misusing taxpayers’ money WASHINGTON, Oct 4: US federal officials improperly spent $146 million dollars (100 million euros) of taxpayers’ money in 12 months by travelling business or first class when they should have flown economy, a report has shown.... Malaysia’s trade surplus rises KUALA LUMPUR, Oct 4: Rising exports of electrical products in August fuelled Malaysia’s largest monthly surplus this year of 8.99 billion ringgit ($2.6 billion), official data showed on Thursday.... Port Qasim KARACHI, Oct 4: Three ships with containers, chemicals and coal were accommodated berths during the last 24 hours, said a PQA press release on Thursday.... Asian stocks lower HONG KONG, Oct 4: Asian stocks closed mostly lower on Thursday as cautious investors braced for key US jobs data expected to provide clues about the prospects for interest rates.... Gold hits 1-week low LONDON, Oct 4: Gold hit one-week lows on Thursday as the dollar recovered from its recent plunge against the euro and dealers said further losses were possible.... Malaysian palm oil higher KUALA LUMPUR, Oct 4: Malaysian crude palm oil futures ended 2.1 per cent higher on Thursday as rising prices of rival soybean oil and a weakening ringgit currency against the dollar boosted the market, traders said.... European stocks mixed LONDON, Oct 4: Europe’s main stock markets saw mixed fortunes on Thursday amid investor caution ahead of interest rate decisions from the European Central Bank and Bank of England, analysts said....

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