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November 24, 2007 Saturday Ziqa’ad 13, 1428 Russia lifts ban on citrus, opens rice market ISLAMABAD, Nov 23: Russia on Friday announced lifting of ban on the import of Pakistani citrus fruit and hinted towards re-opening its market for the Pakistani mango and finally rice in the near future.... Political turmoils cast doubt over economy KARACHI, Nov 23: Pakistan’s spiral into emergency rule after months of political upheaval has cast doubt over how fast policies are being implemented and deterred investors from committing long-term funds into its fast-growing economy....   $46m plan to boost microfinancing RAWALPINDI, Nov 23: A $46 million programme will boost commercialisation of the microfinance sector and make it available to about 160,000 new clients -- at least half of them women.... ECB policymakers warn on growth, currency swings MADRID/FRANKFURT, Nov 23: European Central Bank policymakers said Europe’s growth outlook was deteriorating and warned of the risks attached to “brutal” currency movements after the euro hit record highs against the dollar on Friday.... Ghee makers want revision in duty drawback regime ISLAMABAD, Nov 23: Ghee manufacturers have urged the government to revise the duty drawback regime in a bid to enhance export of ghee and oil to Afghanistan and Central Asian Republics (CARs).... Development of engg sector urged RAWALPINDI, Nov 23: Minister for Industries, Production and Special Initiatives Salman Taseer has urged the Engineering Development Board (EDB) to provide necessary inputs to the engineering sector to prepare it for the comprehensive industrial policy currently being framed for rapid industrialisation.... Taiwan export orders up TAIPEI, Nov 23: Taiwan’s export orders in October rose to a record high of $32.20 billion from $30.92 billion in September, the economics ministry said on Friday.... Stocks finish weekend session with handsome gains KARACHI, Nov 23: Stocks finished the weekend session on a bullish note as investors continued to build-up long positions in oil shares at the current levels followed by analysts’ predictions of higher capital gains and payouts.... Dr Akhtar appointed IFSB chairperson KARACHI, Nov 23: The Council of Islamic Financial Services Board (IFSB) has endorsed the appointment of Dr Shamshad Akhtar, Governor State Bank of Pakistan, as chairperson of the IFSB council for one-year term beginning from January 1, 2008.... Sharp decline in import of used vehicles KARACHI, Nov 23: The import of used cars and commercial vehicles declined substantially during the first four months (July-Oct) of the current fiscal.... Oil prices drift higher on supply concerns LONDON, Nov 23: World oil prices edged up on Friday, after shooting close to $100 earlier this week, as traders worried about tight supplies and geopolitical jitters in key producers.... Inflation NEW DELHI, Nov 23: India’s inflation rate has dropped to 3.01 per cent on falling prices of food items such as pulses, fruits and vegetables, official figures showed on Friday.... TDAP reviews KARACHI, Nov 23: The Trade Development Authority of Pakistan (TDAP) on Friday reviewed the implementation of various trade policy initiatives for the fiscal year 2007-08.... Easy conditions on cotton market KARACHI, Nov 23: Cotton prices on Friday eased further by Rs25 per maund as ginners continued to indulge in panic selling and found willing spinners and mills to grab the offered lots.... EU warns China on trade gap SHANGHAI, Nov 23: European Union trade commissioner Peter Mandelson warned China on Friday that its days of special economic status were over and it should open up further to global trade.... Karachi Port operations KARACHI, Nov 23: Nine ships carrying containers and to load naphtha and ethanol are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Nov 23: Six ships carrying containers, edible oil, furnace oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Friday.... Dollar reverses decline NEW York, Nov 23: The euro set a record high against the dollar early on Friday, but the key $1.50 level remained out of reach when the currency was knocked more... Company news KARACHI, Nov 23: JCR-VIS had earlier placed the credit ratings of A+ of TFC issues of Rs2.1 billion of Azgard on ‘Rating Watch – Developing’ status on June 6, 2007.... UK economy growing at slow rate LONDON, Nov 23: Britain’s economy expanded at a slower-than-expected rate of 0.7 per cent in the third quarter of 2007, according to official data published on Friday.... Asian stocks higher but caution prevails HONG KONG, Nov 23: Asian stocks closed mostly up on Friday but trade was cautious with Tokyo shut for a holiday and investors still concerned about US economic prospects.... Malaysian palm oil up KUALA LUMPUR, Nov 23: Malaysian crude palm oil futures rose 1.7 per cent on Friday to strike a record high as investors rushed to cover positions after rival soyaoil prices surged in Asian trade and talk of rising exports.... Karachi market rates KARACHI, Nov 23: The following were Friday’s commodity market rates in rupees.... European stocks recover LONDON, Nov 23: Europe’s main stock markets headed higher on Friday at the end of a turbulent week which saw global equities rocked by fears over a US economic slowdown....

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