DAWN - Business; November 29, 2007

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November 29, 2007	Thursday	Ziqa’ad 18, 1428

Cement prices up by Rs17 per bag in two weeks KARACHI, Nov 28: Cement prices increased by Rs8-12 per bag on Tuesday, which comes quickly on top of an increase of Rs5-10 two weeks ago. The cost of a 50kg bag...		Wheat support price to be announced soon LAHORE, Nov 28: The federal government, under intense pressure from the Punjab government, may soon announce wheat support price of Rs500 per 40kg. According to sources in the Ministry of Food,...

$4bn Tap gas pipeline project in jeopardy ISLAMABAD, Nov 28: The $4 billion Turkmenistan-Afghanistan-Pakistan (Tap) gas pipeline project is unlikely to materialise even in the next decade owing to Russian gas giant Gazprom’s fresh agreement with Turkmenistan for increased Europe-bound gas supplies at enhanced rates, it is learnt....		Economy facing numerous challenges KARACHI, Nov 28: There has been a constant decline in the country’s exports for the fourth consecutive month of the current fiscal, which is alarming not only for the balance of...

KSE 100-share index up by 90 points on renewed buying KARACHI, Nov 28: The share market on Wednesday showed fresh widespread gains on renewed buying triggered by reports that President Musharraf has handed over the command of the army to General Ashfaq Pervez Kayani after doffing uniform....		India agrees to cut customs duties for Pakistan ISLAMABAD, Nov 28: India has agreed to scale down customs duties below the applied level for two neighbouring countries -- Pakistan and Sri Lanka -- under the South Asian Free Trade Agreement (Safta)....

Senate body for increase in wheat support price ISLAMABAD, Nov 28: The Senate standing committee on food, agriculture and livestock has recommended an increase of Rs100 in the support price of wheat per 40kg and reduction in the price of agricultural inputs in view of current high production costs....		$100m loss in seafood exports feared KARACHI, Nov 28: Pakistan is feared to lose up to $100 million in its seafood exports during the current fiscal year following a ban by the EU coupled with reduced prices being offered by other countries....

90 fairs allotted to trade bodies KARACHI, Nov 28: The Trade Development Authority of Pakistan (TDAP) has decided to organise only 20 trade exhibitions in a year and handover the remaining 90 fairs to trade bodies and exporters associations....		Privatisation on track ISLAMABAD, Nov 28: Most of the transactions targeted for privatisation are progressing satisfactorily and according to the schedule, says a spokesman of the Privatisation Commission....

Spinners, mills take long positions amid brisk trading KARACHI, Nov 28: Brisk trading was again witnessed on the cotton market on Wednesday as spinners and mills continued to build-up long positions at an average of Rs3,150 per maund....		Barriers in trade with China discussed KARACHI, Nov 28: The WTO Cell of the Trade Development Authority of Pakistan (TDAP) has held discussions with businessmen at the Federation House to collect the input on irritants, non-tariff and hidden barriers in the way of Pakistan’s exports to China....

Sarhad chamber polls today PESHAWAR, Nov 28: A tough contest is expected in the election on Thursday for four vacant executive committee seats of the Sarhad Chamber of Commerce and Industry (SCCI) between two rival groups....		Oil prices fall on US data LONDON, Nov 28: Oil prices weakened on Wednesday after news that US energy inventories had fallen less than expected last week and as Saudi Oil Minister Ali Al-Nuaimi refused to be drawn over whether Opec would hike output....

EU, China confront each other on trade dispute BEIJING, Nov 28: China and Europe confronted each other over their long-running trade dispute here Wednesday, with the EU calling for a level playing field and Chinese Premier Wen Jiabao insisting on gradual reform....		Malaysia’s economy grows 6.7pc KUALA LUMPUR, Nov 28: Malaysia’s economy grew 6.7 per cent in the third quarter helped by strong private consumption and investment, putting it on track for a 2007 target of 6 per cent, the central bank said on Wednesday....

Port Qasim KARACHI, Nov 28: Normal shipping activity was witnessed at the port where three ships carrying containers, edible oil, and coke were accommodated on berths at QICT, MPT and IOCB, respectively, during the last 24 hours, says a PQA report....		Asian stocks close mostly lower despite US rally HONG KONG, Nov 28: Asian stocks closed mostly down on Wednesday despite an overnight Wall Street rally as investors fretted about US economic prospects and potential moves to slow the Chinese economy....

Dollar firm on better US housing data LONDON, Nov 28: The dollar firmed against the euro on Wednesday despite a decline in orders for US durable goods and renewed prospects for another cut in US interest rates....		European stock markets rally LONDON, Nov 28: Europe’s main stock markets rose strongly Wednesday on positive earnings news and following a sharp rebound on Wall Street overnight, dealers said. London’s FTSE 100 index of leading companies jumped 0.87...

Palm oil futures at 1-week low KUALA LUMPUR, Nov 28: Malaysian crude palm oil futures fell 1.7 per cent to a one-week low on Wednesday, pulled down by losses in crude and soyaoil markets.Prices...		EU-Iraq pact BRUSSELS, Nov 28: The European Union and Iraq reported significant progress towards a trade and cooperation pact after talks on Wednesday and a minister said Iraq’s business climate would improve markedly next year....

Currency reforms BEIJING, Nov 28: Chinese Premier Wen Jiabao told European leaders on Wednesday yuan currency reform would be only gradual, arguing the exchange rate was only partly to blame for China’s trade surplus with the EU.—AFP...		Conversion rates KARACHI: The following are November 28 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....