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November 08, 2007 Thursday Shawwal 26, 1428 High gold prices fail to woo stock investors KARACHI, Nov 7: As the gold hit a new record peak of Rs16,328 per 10 grams on Wednesday stock market players do not still seem inclined to invest in gold.... Setting up of cold storages chain proposed: Fruit, vegetable grading ISLAMABAD, Nov 7: The government is considering a proposal to make considerable “initial investment” in the creation of a chain of cold storages in conjunction with private sector parties willing to invest in fruit and vegetable grading, packaging and processing facilities....   SECP allows investment in associated companies ISLAMABAD, Nov 7: The Securities and Exchange Commission of Pakistan (SECP) has announced that now banking and non-bank finance companies (NBFCs), holding companies and modaraba management companies can make investment in any of their associated companies.... Deep water container port planned KARACHI, Nov 7: A signing ceremony will be held on Monday for a high profile concession agreement of Pakistan Deep Water Container Port (PDWCP) having a draft of 18 metres and could handle super post- Panamax container ships.... Stocks extend recovery drive amid dull trading KARACHI, Nov 7: The share market on Wednesday extended the overnight recovery drive on active follow-up support in the leading oil shares but a sharp decline in the turnover figure indicated... Omantel buys 65pc of Worldcall Telecom KARACHI, Nov 7: Worldcall Telecom Limited — a stock market listed company — announced on Wednesday that the major sponsors of the company had accepted Oman Telecommunication Company’s (Omantel) bid for 65 per cent shares in the company.... Dollar falls to new all-time low against euro LONDON, Nov 7: The dollar tumbled on Wednesday to fresh lows against the euro, with already cautious sentiment hit by reports China might diversify its massive forex reserves away from the US unit, dealers said.... LSE chief’s board nomination withdrawn LAHORE, Nov 7: The Securities and Exchange Commission of Pakistan (SECP) has withdrawn its nomination of Lahore Stock Exchange (LSE) chairman Hamesh Khan as member of the bourse’s board of directors... Dollar shaky after emergency KARACHI, Nov 7: Uncertainty owing to emergency has shaken exchange rate and dollar has started gaining against Pakistani rupee while the greenback itself has been a weaker currency in the international market.... FTA signing with Malaysia today ISLAMABAD, Nov 7: Pakistan will sign its first ever comprehensive Free Trade Agreement (FTA) with Malaysia on Thursday which covers trade in goods, services and investment etc., on preferential basis.... German industrial output FRANKFURT, Nov 7: German industrial production edged higher in September from the previous month, locking in a solid performance for the third quarter of the year, figures released on Wednesday by the economy ministry showed.... Oil prices race toward $100/barrel LONDON, Nov 7: Crude oil prices closed in on $100 per barrel on Wednesday after striking fresh record highs on the back of global supply concerns and a weak dollar, traders said.... Finance facility KARACHI, Nov 7: The Allied Bank Limited and Descon Oxychem (Pvt) Ltd. (DOL) have singed an agreement to mark the financial close of Rs1,100 million structured limited recourse project finance facility... Little done to explore Islamic financing KARACHI, Nov 7: Very little work has been done to explore the unique features of Islamic finance for the larger good of the society, particularly in the context of economic growth... Australia central bank lifts rates to 11-year high SYDNEY, Nov 7: Australia’s central bank raised interest rates to an 11-year high on Wednesday saying the economy had to slow to contain inflation, leaving the door open for further hikes.... Lint prices maintain bullish trend KARACHI, Nov 7: Cotton prices on Wednesday maintained their upward drive for the third session in a row as spinners and mills continued to make panic buying at the current levels.... Karachi Port operations KARACHI, Nov 7: Seven vessels carrying containers, coal and to load naphtha are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Nov 7: Three ships carrying containers, furnace oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Global steel industry to grow FRANKFURT, Nov 7: The world’s biggest steelmaker, ArcelorMittal, sees no slowing of global growth in the steel industry, chief executive Lakshmi Mittal said on Wednesday in an interview.... Trainee diplomats visit LCCI LAHORE, Nov 7: A 40-member delegation of foreign trainee diplomats visited Lahore Chamber of Commerce and Industry (LCCI) here on Wednesday. Trainee diplomats from Azerbaijan, Botswana, Burkina Faso, Burundi, Comoros,... Asian stocks close mostly higher HONG KONG, Nov 7: Asian stocks closed mostly higher on Wednesday after shrugging off a surge in the price of crude oil to a record level, with Malaysian share prices reaching an all-time high.... European stock markets rise LONDON, Nov 7: Europe’s main stock markets extended gains in morning trade on Wednesday as investors tracked fresh record highs for oil prices and the euro.... Palm oil prices KUALA LUMPUR, Nov 7: Malaysian crude palm oil futures broke past a key 3,000-ringgit resistance level to strike a record high on Wednesday, as crude jumped to a new peak and soyoil soared to a near 33-year high.... Conversion rates KARACHI: The following are November 8 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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