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November 06, 2007 Tuesday Shawwal 24, 1428 Local firms allowed to outsource services: Oil, gas exploration ISLAMABAD, Nov 5: The government has allowed local petroleum companies to outsource up to 70 per cent of technical services to foreign firms for becoming operators of oil and gas fields for exploration and development.... Record increase in basmati rice prices KARACHI, Nov 5: Delay in harvesting of paddy has soared non-basmati rice prices to an unprecedented level, and now these have become out of the reach of low-income groups who mostly consume Irri-6, Irri-9 and 386 varieties....   Many private sector trade visits put off ISLAMABAD, Nov 5: Many private sector trade and financial delegations have cancelled their scheduled visits to Pakistan following imposition of emergency in the country, Dawn has learnt.... Oil prices fall LONDON, Nov 5: World oil prices fell further from recent record peaks on Monday as traders took profits.... Stocks plunge on emergency-related panic KARACHI, Nov 5: The KSE 100-share index on Monday crashed from the recent highs by 635.80 points or 4.57 per cent at 13,279.24 on panic-selling by both the local and the... Moody’s reviewing Pakistan’s ratings SINGAPORE, Nov 5: Moody’s Investors Service is reviewing Pakistan’s ratings and will assess the ensuing developments after Pakistan President Pervez Musharraf declared emergency rule in the country, a senior analyst at the ratings firm said on Monday.... SECP to probe into Karachi bourse crash ISLAMABAD, Nov 5: The Securities and Exchange Commission of Pakistan (SECP) has announced that it will initiate an inquiry into Monday’s market manipulation in the shape of rumours about the ouster... Business activity as usual in Lahore LAHORE, Nov 5: There was usual business activity in all wholesale and retail markets of the city as police baton-charged and tear-gassed several hundred lawyers and some political activists, who had... Dollar climbs slightly LONDON, Nov 5: The dollar climbed slightly on Monday but remained anchored near record lows against the euro despite a better-than-expected survey of the US service sector.... Cotton yarn price falls FAISALABAD, Nov 5: The price of cotton yarn on Monday fell by Rs5 per bundle as trading activities remained dull following imposition of the state of emergency in the country.... 28,431 retailers file returns KARACHI, Nov 5: A total of 28,431 retailers filed tax returns this year, as against 14,435 last year, showing an increase of 83 per cent. This year, a remarkable increase was... Doha talks RIO, JANEIRO Nov 5: Brazil believes that considerable progress is possible before the end of the year in talks to clinch a global trade deal, Foreign Minister Celso Amorim said on Monday.... Slow trading on cotton market KARACHI, Nov 5: Trading activity on the cotton market on Monday was relatively slow as spinners and mills made modest covering purchases apparently assessing the impact of emergency on the cotton trade.... Microsoft signs Indian Internet TV deal MUMBAI, Nov 5: Microsoft and India’s Reliance Communications on Monday signed a $500 million deal to launch India’s first high-definition Internet TV service, executives from both firms said.... Karachi Port operations KARACHI, Nov 5: Eight ships carrying containers and to load clinkers are due to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was... Port Qasim KARACHI, Nov 5: Three ships carrying edible oil and diesel oil were allotted berths during the last 24 hours, said a PQA press release on Monday.... EU debates energy strategy PRAGUE, Nov 5: European representatives gathered on Monday in Prague to discuss if a “nuclear energy renaissance” was feasible to cut the European Union’s dependence on imported energy.... Malaysia’s trade surplus KUALA LUMPUR, Nov 5: Malaysia’s trade surplus surged to $3.43 billion in September, up 29.9pc from August and 11.8pc from a year ago, official data showed Monday.... German car sales slump FRANKFURT, Nov 5: German vehicle sales fell by an annualised 4 per cent in October, while exports jumped by 15pc despite the euro’s rise in value against other major currencies, figures released on Monday by the automobile federation VDA showed.... Asian stock markets close sharply lower HONG KONG, Nov 5: Asian stocks closed sharply lower on Monday with sentiment damaged by the subprime mortgage crisis in the US and a heavy sell-off in the Hong Kong and mainland China markets.... Palm oil prices higher KUALA LUMPUR, Nov 5: Malaysian crude palm oil futures higher on Monday, without any positive leads to push the market past the 3,000 ringgit level, traders said.... European stocks slide LONDON, Nov 5: Europe’s main stock markets fell on Monday, with financials in the firing line, as subprime-weary investors were spooked by the resignation of Citigroup boss Charles Prince, analysts said.... Karachi market rates KARACHI, Nov 5: The following were Monday’s commodity market rates in rupees.... Conversion rates KARACHI: The following are November 6 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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