DAWN - Business; November 30, 2007

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November 30, 2007	Friday	Ziqa’ad 19, 1428

Current account deficit shrinks by $518m ISLAMABAD, Nov 29: Backed by a slight improvement in trade account, the current account deficit in the first four months of the current fiscal year narrowed by $518 million and stood at $2.996...		Portfolio investment stages comeback KARACHI, Nov 29: Foreign portfolio investment started flowing back into the country after easing of political uncertainty with positive developments including doffing of army uniform by President Musharraf....

Sale of gold jewellery falls by 40 per cent KARACHI, Nov 29: Sale of gold jewellery sets plummeted by 40 per cent this year as compared to last year, while in the last two months, its sales plunged by 60...		PSEB to boost equity base of IT companies ISLAMABAD, Nov 29: Pakistan Software Export Board (PSEB) is launching various initiatives to facilitate access to Venture Capital, strengthen the equity base of IT companies and promote world class entrepreneurial culture in the IT industry....

EMI, AVT restart operation KARACHI, Nov 29: EMI, the world’s leading music company and AuVitronics (AVT), the pioneer in using modern technology for audio/video cassettes production in Pakistan, have restarted their businesses after a decade, following considerable reduction in country’s piracy level....		TCP tenders to import 200,000 tons of wheat ISLAMABAD, Nov 29: The state-run Trading Corporation of Pakistan has issued a tender to import 200,000 tons of wheat in bulk, an agency official said on Thursday....

Facility to file company’s returns ISLAMABAD, Nov 29: In order to facilitate filing of annual statutory returns, the three main company registration offices of the Securities and Exchange Commission of Pakistan (SECP) located in Islamabad, Lahore and Karachi will remain open till 9:00 pm....		Pakistan, UNDP sign $6.49m agreement ISLAMABAD, Nov 29: The Ministry of Finance and United Nation’s Development Programme (UNDP) here on Thursday signed an agreement of $6.49 million to improve capacity for monitoring pro-poor policies at the federal as well as at provincial levels....

EU, India hope for FTA in 2008 NEW DELHI, Nov 29: The European Union and India hope to conclude a free trade agreement next year, officials of both sides said on Thursday....		Subsidies WASHINGTON, Nov 29: The United States announced on Thursday that China has agreed to eliminate WTO-banned subsidies that have given Chinese exports an unfair trade advantage....

Frontier Corps to check smuggling ISLAMABAD, Nov 29: The government on Thursday accorded powers to Frontier Corps -- NWFP and Balochistan -- to carryout anti-smuggling functions along the Pak-Afghan border....		Stocks show bullish trend on positive developments KARACHI, Nov 29: The KSE 100-share index on Thursday steadily inched up to its pre-reaction target of 14,000 level as investors continued to build-up long positions on oil, cement and banking...

Spinners buy all lots amid hectic cotton trading KARACHI, Nov 29: Steady conditions prevailed on the cotton market on Thursday as spinners remained active at the current levels and again lifted all the lots offered for sale by the ginners....		Oil prices soar on supply concern LONDON, Nov 29: World oil prices rebounded strongly on Thursday after a fire struck a key pipeline linking Canada with the United States, which is the biggest energy consumer in the world....

Progressive Forum wins SCCI election PESHAWAR, Nov 29: The Progressive Businessmen Forum (PBF) won all the four executive committee seats of the Sarhad Chamber of Commerce and Industry after a tough competition on Thursday....		Karachi Port operations KARACHI, Nov 29: Six ships carrying containers, general cargo and crude oil are expected to arrive at the outer anchorage on Friday, according to KPT sources....

New branch PESHAWAR, Nov 29: A new branch of Bank of Khyber (BoK) offering interest free banking services will start functioning by December 1, 2007 at Charsadda....		Reserves KARACHI, Nov 29: Pakistan’s foreign exchange reserves rose by a marginal $9 million to $16.107 billion in the week ending on November 24, the central bank said on Thursday....

Asian stocks close mostly up on US rate cut hopes HONG KONG, Nov 29: Asian stocks closed mostly up on Thursday after an overnight Wall Street rally triggered by hopes that the US will cut interest rates....		Palm oil rebounds KUALA LUMPUR, Nov 29: Malaysian crude palm futures jumped nearly 2 per cent on Thursday, rebounding from more than a one-week low as surging crude and soyaoil markets during Asian hours encouraged investors to cover shorts....

European stocks mostly higher LONDON, Nov 29: European stocks mostly rose on Thursday, though winnings were less strong than in Asia and overnight on Wall Street, where gains were extended on hopes of another US interest rate cut to bolster the economy, dealers said....		Election KARACHI, Nov 29: Mohammd Naeem Sharif has been elected unopposed chairman of Travel Agents Association of Pakistan for the year 2007-08. The other office bearers elected are: Hasnain Raza, vice chairman;...