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October 09, 2007 Tuesday Ramazan 26, 1428 ECB ready to inject more money FRANKFURT, Oct 8: The European Central Bank said on Monday it was prepared to inject more cash into euro money markets in the face of continuing tension caused by difficulties in the US subprime home loan sector.... High default rate exposes lending skills of banks KARACHI, Oct 8: Commercial banks have been moving fast on default track as their non-performing loans (NPLs) touched a new high and reached over Rs17 billion during the first six months of the current banking year....   Govt fails to boost industrial investment KARACHI, Oct 8: Federation of Pakistan Chambers of Commerce and Industry President Tanvir Ahmad Sheikh has blamed government for failing to play its part to supplement the efforts of private sector in boosting industrial investment.... Stocks hit all-time high at 14,367 points KARACHI, Oct 8: The share market on Monday welcomed the unofficial re-election of President Musharraf, but analysts warned investors not to be carried away by current buying euphoria before the final... Oil prices tumble on US growth concerns LONDON, Oct 8: The price of New York crude oil slumped by $2 on Monday as traders fretted that slowing US economic growth would hamper long-term global crude demand.... New Islamic income fund launched KARACHI, Oct 8: United Bank Ltd (UBL) Fund Managers has announced the nationwide launch of their new fund, the United Islamic Income Fund (UIIF), which presents an ideal investment opportunity for... RBS consortium wins ABN Amro LONDON, Oct 8: A European consortium led by Royal Bank of Scotland on Monday clinched a record 71-billion-euro ($100bn) takeover of ABN Amro, paving the way for the break-up of the Dutch lender.... SECP, KSE reach consensus : Demutualisation KARACHI, Oct 8: The Securities and Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (KSE) have “reached consensus on a final draft of the “Stock Exchange (Corporatisation, Demutualisation and Integration) Ordinance, 2007,” stated a KSE press release.... China, Dubai to join hands in supervising banks BEIJING, Oct 8: China has signed a memorandum with Dubai to strengthen cooperation in supervising banks, the China Banking Regulatory Commission said on Monday.... US holds key to success or failure of WTO talks GENEVA, Oct 8: The United States holds the key to the success or failure of WTO talks aimed at liberalising global commerce and boosting developing countries, the French foreign trade minister said on Monday.... Euro falls LONDON, Oct 8: The euro slipped below $1.41 on Monday as eurozone finance ministers struggled to hammer out a common line on exchange rates.... Clarification KARACHI, Oct 8: The swap ratio in the merger of Pak Suzuki Motor Company Limited (PSMCL) and Suzuki Motorcycles Pakistan (SMPL) is 1:21, says a clarification by the company.... Adamjee starts business on Jan 1: Life Insurance KARACHI, Oct 8: Adamjee Insurance Company Limited (AICL) is all set to write the first life insurance policy on Jan 1 of next year, sources close to the company said.... Kazakh economy ALMATY, Oct 8: Kazakhstan’s central bank warned on Monday that the global liquidity crunch could lead to a lowering of the country’s 9.9 per cent gross domestic product growth forecast this... Qatar plans refinery DUBAI, Oct 8: A company run by a member of Qatar’s ruling family is investing around $1.5 billion in Zimbabwe, to build an oil refinery and a hotel, and says it is not concerned about the country’s political and economic crisis.... Global economy facing greater risks: Rato MADRID, Oct 8: IMF chief Rodrigo Rato said on Monday the US dollar was undervalued and risks to the global economy from market turbulence were greater than six months ago.... EU rejects Greece’s upward GDP revision ATHENS, Oct 8: Eurostat rejected most of Greece’s proposed 25 per cent upward revision of its national output, aimed at including parts of the large black economy in the euro zone’s second poorest member.... Sarkozy vows full probe into EADS insider trading MACON (France), Oct 8: French President Nicolas Sarkozy on Monday pledged to fully investigate whether the government had a hand in a massive insider trading scandal at Airbus parent company EADS.... Karachi Port operations KARACHI, Oct 8: Eight ships carrying containers and palm oil and to load cement are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Easier conditions on cotton market KARACHI, Oct 8: Trading on the cotton market resumed on an easy note as prices showed fresh fall ranging from Rs25 to Rs50 per maund in the absence of strong mill demand.... Indian gem exporters jittery NEW DELHI, Oct 8: India’s gem and jewellery exporters are worried that peak seasonal sales in the period from Thanksgiving to Christmas could fall due to the possibility of a slowdown in the United States, their largest market.... China may send team to probe food scandal BEIJING, Oct 8: China may send a team of food-safety experts abroad for the first time after Filipino children fell ill from eating Chinese-made milk candies, state media said on Monday.... Euro zone seeks unity in currency struggle PARIS, Oct 8: Euro zone finance ministers, irked by their currency’s rising exchange rate, were set to negotiate a response on Monday to a problem that makes life difficult for exporters who compete with US and Asian companies.... EU may take action to ensure fair trade BERLIN, Oct 8: The European Union is prepared to take defensive measures to ensure fair competition, the EU Industry Commissioner and Commission Vice President said on Monday, speaking at the IISI annual steel conference.... European stocks lower LONDON, Oct 8: Europe’s main stock markets eased overall on Monday despite strong gains for some individual share prices, notably Northern Rock, which jumped on talk that the troubled British bank may soon be bought.... Asian stocks close higher HONG KONG, Oct 8: Asian stocks closed mostly higher on Monday, taking a lead from Wall Street which rallied on the back of improved job growth and calming fears that the US economy could be tipped into recession.... Palm oil futures lower KUALA LUMPUR, Oct 8: Malaysian crude palm oil futures ended 1.1 per cent lower on Monday, weighed down by declining prices of rival soybean oil and the strengthening ringgit against the dollar, traders said....

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