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November 09, 2007 Friday Shawwal 27, 1428 Hong Kong firm enters accord with KPT: Container port ISLAMABAD, Nov 8: The Hong Kong-based Hutchison Port Holdings Limited (HPH) entered into an agreement with the Karachi Port Trust (KPT) here on Thursday to invest over $1 billion in the Pakistan Deep Water Container Port Project (PDWCP).... BoE, ECB freeze rates amid credit woes LONDON, Nov 8: The Bank of England on Thursday kept its key interest rate at 5.75 per cent for a fourth month running, as expected, as policymakers sat tight amid rising concerns over the global credit squeeze....   Pakistan seeks more petrol imports KARACHI, Nov 8: Pakistan has sought more petrol imports of 35,000 tons in January and two optional shipments of 18,000 tons each for December to meet the surging demand.... Fed chief sees sluggish US economic activity WASHINGTON, Nov 8: Federal Reserve chairman Ben Bernanke said on Thursday he sees “sluggish” US economic activity into the first part of 2008 as mortgage and credit problems deepen.... Stocks falter on profit-selling KARACHI, Nov 8: Stocks finished the weekend session on a lower note followed by active profit-selling at the overnight inflated levels but investors remained conspicuous by their absence awaiting some positive developments on the political front.... Oil prices rally on supply concerns LONDON, Nov 8: World crude prices rebounded toward record high points and within striking distance of $100 a barrel on Thursday amid supply concerns in the North Sea and unrest in oil-rich Yemen.... IMF says high oil prices ‘manageable’ WASHINGTON, Nov 8: The International Monetary Fund said on Thursday the world economy is weathering a recent surge in oil prices because it is driven by increased demand rather than supply constraints.... US retailers post weak October sales ATLANTA, Nov 8: Most U.S. retail chains suffered through a dismal, record-warm October, with leader Wal-Mart Stores Inc falling short of Wall Street same-store sales estimates and the apparel sector continuing to struggle.... Privatisationto fetch $3.5 billion in 2007-08 ISLAMABAD, Nov 8: Pakistan has targeted $3.5 billion through privatisation of public sector entities in FY2007-08. Talking to newsmen here on Thursday, Federal Minister for Privatisation and Investment, Mohammad Wasi Zafar,... China issues new foreign investment rules BEIJING, Nov 8: China has released new rules to prohibit or limit foreign investment in key industries as it seeks to cool its overheated economy and clean up its damaged environment, state press reported on Thursday.... India sets 9pc growth rate in 11th plan NEW DELHI, Nov 8: While India achieved actual per annum income growth of 7.6 per cent, slightly below the target of 7.9 per cent in its Tenth Plan period, it has... OCBC to set up Islamic bank in Malaysia SINGAPORE, Nov 8: Overseas-Chinese Banking Corp (OCBC) has been given the green light by Malaysia’s central bank to set up an Islamic banking subsidiary in the country, the Singapore lender said.... Indian inflation declines NEW DELHI, Nov 8: India’s inflation rate fell to its lowest level in more than five years as food staples such as fruits, vegetables and sugar declined, official data showed on Thursday.... Cotton prices rise on panic buying KARACHI, Nov 8: Trading activity on the cotton market on Thursday was maintained on the higher as spinners and mills continued to make panic covering purchases to grab the floating stock, analysts said.... Japan machinery orders down TOKYO, Nov 8: Japan’s core machinery orders, a key gauge of corporate capital spending, fell in September to come well below the market expectation, official data showed on Thursday.... German trade surplus widens BERLIN, Nov 8: Germany’s trade surplus widened 28 per cent in September from August, the statistics office said on Thursday, highlighting a trend that is an exception in the eurozone.... Karachi Port operations KARACHI, Nov 8: Eight ships carrying DAP fertilisers, containers and crude oil are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, Nov 8: Four ships carrying containers, edible oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Thursday.... Ford Motor cuts losses CHICAGO, Nov 8: Ford Motor Co. said on Thursday its losses narrowed in the third quarter to $380 million as the struggling auto giant cited progress in its turnaround effort.... Australia’s jobless rate up 4.3 pc SYDNEY, Nov 8: Australia’s unemployment rate rose to 4.3 per cent in October from a low of 4.2 per cent the previous month, the Australian Bureau of Statistics (ABS) said on Thursday.... Asian stocks close sharply down in heavy sell-off HONG KONG, Nov 8: Asian stocks tumbled on Thursday after big falls on Wall Street due to growing concerns that the US economy could slow amid a credit crunch, a sliding greenback and high oil prices.... Gold eases in London LONDON, Nov 8: Gold eased on Thursday tracking weaker oil prices as investors took profits from the previous session’s spike to 28-year highs just shy of a record peak.... Asian economies face only mild slowdown SEOUL, Nov 8: Asian economies have weathered the US sub-prime mortgage crisis well and will experience only a mild slowdown next year, a senior International Monetary Fund official said on Thursday.... Palm oil prices up NUSA DUA, Indonesia, Nov 8: Malaysian crude palm oil prices may trade at around 3,000 ringgit a ton in the next few months as expected higher palm oil output may help... Karachi market rates KARACHI, Nov 8: The following were Thursday’s commodity market rates in rupees.... Company news KARACHI, Nov 8: Tuwairqi Steel Mills Limited (TSML) of Al Tuwairqi Group of Saudi Arabia and Kawasaki Gas Turbines Asia, a subsidiary of Japan’s Kawasaki Heavy Industries, signed an agreement on... Markets closed KARACHI, Nov 8: All the local principal markets including stock, cotton and commodity markets will remain closed on Friday on account of birthday of Allama Iqbal.... Conversion rates KARACHI: The following are November 9 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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