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| November 18, 2007 | Sunday | Ziqa’ad 07, 1428 |
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Ship-breaking industry on verge of collapse
KARACHI, Nov 17: Ship-breaking industry is on the verge of total collapse owing to large-scale import of re-rollable material under the garb of ferrous (re-meltable) scrap which does not have duty and sales tax at import stage.... 
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Remittances show 41pc growth in October
KARACHI, Nov 17: Overseas Pakistanis sent record remittances in October, setting new trends which could make another record at the end of the fiscal 2007-08....
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Dollar distracts Opec from summit agenda
RIYADH, Nov 17: Opec heads of state met in Riyadh on Saturday for a rare summit, with the organisation divided over the falling US dollar and attempts to give a political impetus to the oil-exporting cartel....
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Canadian firm plans investment in oil, gas
ISLAMABAD, Nov 17: Canadian Heritage Company (CHC) has decided to invest in oil and gas exploration sector of Pakistan....
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New WTO accord may encourage clean energy use
GENEVA, Nov 17: A new World Trade Organisation (WTO) accord could improve access to clean-energy tools in poorer countries, but any deal making it easier to ship cargo internationally would also carry a heavy carbon footprint....
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Cellphone imports cost $1bn annually
ISLAMABAD, Nov 17: Pakistan spends about $1 billion annually on the import of cellular mobile handsets, which is not only a burden on the country’s foreign reserves but increases the trade...
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Govt urged to de-link LPG base price
ISLAMABAD, Nov 17: The Liquefied Petroleum Gas (LPG) distributors have appealed to the caretaker Prime Minister, Mohammadmian Soomro, to detach base price of local production from the international market in a bid to pass on benefit to end consumers....
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Declining dollar not fuelling US inflation
NEW YORK, Nov 17: The dollar’s slide to record lows has made some investors nervous that US inflation pressures will build as a result — but such fears are misplaced because currency moves rarely pass straight through to import prices....
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Ecuador rejoins Opec as its 13th member
RIYADH, Nov 17: Ecuador rejoined Opec’s ranks on Saturday after 15 years, adding to the oil producing group’s clout as record prices boost the political and economic influence of its members....
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Greater Asean Integration urged
SINGAPORE, Nov 17: Singapore Prime Minister Lee Hsien Loong on Saturday called on the 10 members of Asean to work together to accelerate economic integration in order to keep up with Asian giants China and India....
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China banks shop abroad unlikely to clinch big deal
HONG KONG/SHANGHAI, Nov 17: Flush with cash and swaggering with world-beating valuations, China’s financial firms are scouring the globe for acquisitions but are more likely to settle for small stakes in big, established rivals....
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Lint prices keep rising on hasty buying
KARACHI, Nov 17: Physical activity on the cotton market on Saturday was maintained on the higher side as spinners and mills were not inclined to take even a technical breather amid conflicting reports about the size of the crop....
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Canada sees more world growth risks
OTTAWA, Nov 17: The risks to world economic growth have risen in the past month amid unprecedented foreign exchange volatility, Bank of Canada Governor David Dodge said on Saturday in a conference call....
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Karachi Port operations
KARACHI, Nov 17: Five ships carrying containers and crude oil are expected to arrive at the outer anchorage on Sunday, according to KPT sources....
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Port Qasim
KARACHI, Nov 17: Four ships carrying containers, edible oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Saturday....
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NY cotton easier on speculations
NEW YORK, Nov 17: Cotton futures closed on Friday at another month-low on speculative fund liquidation and switch trade, with the weak tone seen spilling over into the holiday-shortened sessions of next week, brokers said....
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World oil prices slump
LONDON, Nov 17: World oil prices slid from historic heights close to 100 dollars a barrel this week on easing supply concerns....
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