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November 14, 2007 Wednesday Ziqa’ad 03, 1428 14pc rise in October food inflation ISLAMABAD, Nov 13: Food inflation surged by more than 14 per cent in October over the same month last year, mostly hitting the down-trodden people, especially salaried class, statistic division data revealed on Tuesday.... Dollar rallies against yen LONDON, Nov 13: The dollar on Tuesday rebounded from an 18-month low against the yen as Tokyo voiced concern about the recent spike in the value of the Japanese currency, dealers said....   Italian help to local exporters assured KARACHI, Nov 13: Dr Marco Pintus, trade commissioner of Italy, has assured to plead Pakistan’s case for having duty-free access to European Union market to ensure job opportunities to youth.... Fish exports plunge 24pc in July-Sept KARACHI, Nov 13: The country fetched an average price of $1.45 per kg on fish exports in the first quarter (July-September) of this fiscal year as against $1.73... Oil prices slide on lower demand forecasts LONDON, Nov 13: World oil prices dived for the second day running on Tuesday as the International Energy Agency lowered its global demand forecast for crude, analysts said.... S. Arabia seeks to soothe oil consumers RIYADH, Nov 13: Opec kingpin Saudi Arabia sought on Tuesday to reassure oil consumers and calm markets amid soaring prices, saying ahead of an Opec summit that the cartel can meet demand and ruling out a shortage of crude.... German investor confidence plunges FRANKFURT, Nov 13: German investor confidence fell sharply in November, underscoring that an international financial crisis is still playing out in the biggest eurozone economy, a widely watched survey showed on Tuesday.... EU plays down bank woes BRUSSELS, Nov 13: Germany played down losses at another of its banks on Tuesday as European Union finance ministers assessed risks to the economy on multiple fronts, from the global credit crunch to surges in the euro and oil prices.... Bush says economy has strains but still strong NEW ALBANY (Ind.), Nov 13: President George W. Bush acknowledged on Tuesday that the US economy is facing some strains but insisted its underpinnings remain strong and resilient.... German GDP rebounds BERLIN, Nov 13: Germany’s gross domestic product rebounded with growth of 0.7 per cent in the third quarter of 2007 compared with the previous quarter, a source familiar with the data told Reuters.... US calls on Opec to boost output ROME, Nov 13: US Energy Secretary Samuel Bodman on Tuesday upped the pressure on Opec to help cool record oil prices as leaders from member countries of the exporters’ cartel prepare to meet at a rare summit.... Clarification KARACHI: This is with reference to a story published in Dawn on Nov 10, 2007, which focused on counterfeiting practices in Pakistan. In his piece, the reporter has quoted the example... Commonwealth’s ultimatum halts recovery on KSE KARACHI, Nov 13: The election-aided overnight rally faltered halfway on Tuesday as investors took profits at the inflated levels on selling triggered by the Commonwealth’s ultimatum to President Musharraf to lift emergency or face suspension from the 53-nation grouping.... $400bn bank losses likely from US housing woes NEW YORK, Nov 13: Global banks are likely to be hit with hefty losses of up to $400 billion stemming from mortgage investments that have soured in the US housing slump, according to an industry report.... Lint prices steady on active demand KARACHI, Nov 13: Cotton prices on Tuesday remained stable around the previous levels thanks to panic mill buying and spinner efforts to grab the floating stock fearing a price flare up based on a short crop.... Colombia mulls 33pc rise in coffee output BOGOTA, Nov 13: Global coffee giant Colombia is studying a plan to boost output by up to 33 per cent over five years to capitalise on solid global demand, the head of the country’s coffee export association said on Tuesday.... ICAP exam results KARACHI, Nov 13: The Institute of Chartered Accountants of Pakistan has announced the results of CA Foundation and Intermediate examinations (autumn) held in September 2007.... Karachi Port operations KARACHI, Nov 13: Five ships carrying DAP fertiliser, coal and general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... S. Africa signs $5bn power contracts JOHANNESBURG, Nov 13: South Africa’s beleaguered electricity supplier Eskom on Tuesday signed its biggest-ever combined contract, worth nearly $5 billion (3.4 billion euros), in a bid to ease its perennial power shortages.... Indian concern over high oil prices NEW DELHI, Nov 13: India, which imports 70 per cent of its oil needs, is “very concerned” about crude prices rising to nearly 100 dollars, Petroleum Minister Murli Deora said on Tuesday.... French inflation surges PARIS, Nov 13: Annual inflation in France surged to 2 per cent in October, its highest reading since May 2006, in response to increases in the prices of food and energy, official figures showed on Tuesday.... Thai energy giant to invest in Myanmar BANGKOK, Nov 13: Thailand’s largest oil exploration firm, PTT Exploration and Production, said on Tuesday it would invest at least $1 billion over the next five years to develop its offshore gas project in Myanmar.... Italian economy ROME, Nov 13: Italy’s economy could face “some problems” in the final quarter of the year, Industry Minister Pierluigi Bersani said on Tuesday.... Company news KARACHI: National Foods Ltd will introduce authentic Pakistani cuisine to food lovers in trade fairs in China and India, says a press release.... Asian stocks close mostly higher HONG KONG, Nov 13: Asian stocks closed mostly up on Tuesday as investors recovered some poise after a major sell-off triggered by US woes, but unexpectedly good Japanese economic growth failed to staunch losses in Tokyo.... Gold prices lower LONDON, Nov 13: Gold bounced back to trade above $800 an ounce on Tuesday after falling overnight to a one-week low, as bargain-hunters resurfaced and a weaker dollar supported the market, analysts said.... Palm oil futures steady KUALA LUMPUR, Nov 13: Malaysian crude palm futures were steady on Tuesday after retreating the previous day from record peaks hit last week with the market split between investors booking profits and others taking up fresh positions.... European shares slip LONDON, Nov 13: European stocks dropped on Tuesday in the wake of further losses in Asia and on Wall Street overnight caused by fears of more bad news from banks exposed to the US credit crisis, dealers said....

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