DAWN - Business; October 21, 2007

Low Graphics Site


October 21, 2007	Sunday	Shawwal 8, 1428

Stock market resilience to terror attacks KARACHI, Oct 20: Many people frowned at the 33 points rise in KSE share index during trading on Friday — only hours after the Karachi carnage. Some were expecting a mini-crash....		Week-long closure incurs Rs120bn loss KARACHI, Oct 20: Businessmen and economists conservatively estimate a total loss of over $2 billion (Rs120 billion) because of a virtual business closure in Karachi for more than a week that came to a close on Saturday....

11.86pc increase in SPI recorded ISLAMABAD, Oct 20: Inflation recorded a double digit growth during the week ended on Oct 19 over the previous week, mainly due to the highest-ever increase in prices of two essential...		Hotel room occupancy plunges on security risks KARACHI, Oct 20: Room occupancy in leading hotels has dropped to 20 per cent in the last three days following issuance of travel advisory notes (TAN) by foreign missions after the...

IMF policymakers meet to set reform agenda WASHINGTON, Oct 20: Intenational Monetary Fund policymakers convened on Saturday under pressure to overhaul a financially strapped institution accused of having been oblivious to changes in the global economic balance of power....		Pakistan losing EU chilli market to India ISLAMABAD, Oct 20: Deadly fungus has attacked Pakistani chilli again this year during drying process, another bad news for the farmers after the untimely rains cut the country’s overall pepper production by half this season....

Services sector exports up by 12.25pc ISLAMABAD, Oct 20: The services sector exports increased by 12.25 per cent in the first two months (July-August) of the fiscal year 2007-08 over the same months last year, the Federal Bureau of Statistics (FBS) said on Saturday....		WTO’s role in global economy explained LAHORE, Oct 20: The World Trade Organisation (WTO) is deemed to be a consensus driven organisation designed to achieve gains from trade for its members both developed and developing countries....

G7 warns of growth slowdown WASHINGTON, Oct 20: The world’s top finance leaders said on Friday that order was returning to financial markets but warned of lingering instability likely to dampen economic growth as they turned up the heat on China to ease its currency restrictions....		WB calls for farm investment to reduce poverty ISLAMABAD, Oct 20: Greater investment in agriculture in transforming economies, most of which are in Asia, is vital to the welfare of 600 million rural poor people living in those countries, says the latest World Development Report....

Merger KUALA LUMPUR, Oct 20: Malaysian lenders RHB Capital and AmBank Group are considering merger talks to create the country’s second-largest bank, a business weekly said on Saturday....		Pakistan team meets US Treasury, WB, IMF officials WASHINGTON, Oct 20: Heading Pakistan’s delegation at the annual World Bank-IMF meetings, Dr Salman Shah, adviser to the prime minister, met with senior US officials, international finance institution leaders and ministers...

Oil prices racing towards $101 peak of 1980 RIYADH, Oct 20: Crude oil breached the $90 mark in New York for the first time, closing in dangerously on the inflation-adjusted peak of $101.70 per barrel hit in April 1980, a year after the Iranian revolution....		Women chamber seeks financing on reduced mark-up KARACHI, Oct 20: The Sindh Women Chamber of Commerce and Industry will sign MoUs with women chambers of Bangladesh, India, and Malaysia to exchange information on welfare of women entrepreneurs....

Port Qasim KARACHI, Oct 20: Shipping activity remained normal at the port where three ships carrying containers and edible oil were allotted berths at QICT, and MPT, respectively, during the last 24 hours, says a PQA press release....		Investment TOKYO, Oct 20: Japan’s Bridgestone will invest more than $11 billion over five years to boost production as it vies with France’s Michelin for the title of the world’s top tyremaker, a report said on Saturday....

Iran says oil ‘still cheaper’ TEHRAN, Oct 20: Iran’s caretaker oil minister said oil was “still cheap” because, when adjusted for inflation and the weak US dollar, the “real value” was almost half the record of...		Oil hits above $90 on ME tensions LONDON, Oct 20: Scorching oil prices blazed a record-breaking trail beyond $90 this week as traders fretted over the weak US dollar and geopolitical jitters in the crude-rich Middle East....

New York cotton futures settle higher NEW YORK, Oct 20: Cotton futures finished on Friday at a fresh three-month high on speculative buying and the market may use the momentum from this advance to extend its gains next week, brokers said....		Canada retailers begin to trim prices TORONTO, Oct 20: Canadian retailers have begun to trim prices amid growing concern that consumers are not gaining the benefits of a strong Canadian dollar....

Japan tells G7 yen should reflect fundamentals WASHINGTON, Oct 20: Japan told Group of Seven financial chiefs that the yen should reflect economic fundamentals and that they agreed to recognize the risks of one-way bets, Japan’s finance minister said....		US precious metals end flat NEW YORK, Oct 20: Platinum futures in New York set a lifetime contract high on supply fears and gold contracts hit $770 an ounce early on Friday, but the precious metals...

Dollar at fresh low as G7 not seen stepping in NEW YORK, Oct 20: The dollar fell to a record low against a basket of currencies on Friday after a draft statement from the Group of Seven nations failed to address...		Anti-globalisation demo erupts in Washington WASHINGTON, Oct 20: An anti-globalization march in the streets of Washington turned violent, with shop windows smashed as crowds protested on the eve of Saturday’s International Monetary Fund and World Bank meetings, reports said....

Wall Street sinks on ’87 crash anniversary NEW YORK, Oct 20: Caterpillar Inc.’s warning that the housing slump was infecting the wider economy sent US stocks tumbling by the most in more than two months on Friday, in...		Senate farm plan adjusts US crop subsidy rates WASHINGTON, Oct 20: US Senate Agriculture Committee leaders would adjust two key elements of U.S. crop subsidies, loan rates and target prices, as part of a farm bill that would create a revenue protection option, the panel said on Friday....

Canadian dollar up TORONTO, Oct 20: The Canadian dollar made gains against the US dollar on Friday after a higher than expected headline inflation reading was seen reducing the chances of a interest rate cut by the Bank of Canada....		Poultry rates KARACHI, Oct 20: The following are Sunday’s poultry market rates:...