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December 01, 2007 Saturday Ziqa’ad 20, 1428 LPG price mechanism completely deregulated ISLAMABAD, Nov 30: The caretaker government on Friday reversed a decision of former Prime Minister Shaukat Aziz and completely de-regulated the pricing mechanism of Liquefied Petroleum Gas (LPG).... Revenue shows12.6pc increase in five months ISLAMABAD, Nov 30: The Federal Board of Revenue (FBR) on Friday claimed to have collected revenue amounting to Rs333.6 billion during the first five months of the current fiscal year, which is up by 12.6...   Rice exports to Iran decline KARACHI, Nov 30: Rice exports to Iran through official channels is fast dwindling because local banks are not ready to finance genuine exporters holding letters of credit (LCs) and to give collateral against their finance.... Australia asked to extend farm project term ISLAMABAD, Nov 30: Pakistan’s premier agricultural research body has requested the Australian authorities to extend the life of the multi-million-dollar Australia-Pakistan Agriculture Sector Linkages Programme (ASLP) up to five years to achieve the project targets.... Late-selling clips gains above 14,000-level KARACHI, Nov 30: The KSE 100-share index on Friday briefly breached through the barrier of 14,000 points on initial buying in the leading base shares but failed to sustain it owing to weekend selling.... PS to buy 60,000 tons coal from Balochistan QUETTA, Nov 30: Pakistan Steel Mills would purchase 60,000 tons of coal at an estimated cost of Rs250 million during the current financial year from Balochistan.... $ gains on optimism about US economy LONDON, Nov 30: The dollar firmed against the euro on Friday on renewed optimism about the outlook for the US economy which outweighed the prospect of a reduction in US interest rates.... Banks given relaxation on quarterly reports KARACHI, Nov 30: The State Bank on Friday relaxed the rule for the submission of quarterly statements by the banks which they prepare under Basel-II agreement.... Oil slumps below $90 as Opec seen lifting output LONDON, Nov 30: The price of oil fell back below $90 a barrel on Friday amid speculation that oil exporters’ cartel Opec will decide to increase its output at a meeting next week, analysts said.... Booking capital gains: fair or foul? KARACHI, Nov 30: There has been lot of sound and fury over banks, insurance and other companies that close their year on December 31, 2007 as they make a scramble to book capital gains before the year is out.... Indian economy slows NEW DELHI, Nov 30: India’s economic growth slowed to 8.9 per cent in the second quarter, still second only to China, official data showed on Friday, but analysts predicted a further weakening in the months ahead.... China’s wealth fund BEIJING, Nov 30: China Investment Corp., a company established recently to handle $200 billion of forex reserves, has vowed to play a “stabilising role” in global financial markets, state media said on Friday.... $2.1bn power plant BEIJING, Nov 30: China’s largest coal-fired power plant, a $2.1 billion complex supplying the energy-hungry east coast, has entered into operation, state media reported on Friday.... Prices edge higher on cotton market KARACHI, Nov 30: Cotton market on Friday showed firm trend as ginners raised their asking prices by Rs25 per maund after having exhausted a good part of their unsold stocks.... India most attractive for Japanese firms TOKYO, Nov 30: India has surpassed China for the first time as most attractive long-term manufacturing base for Japanese companies, which are particularly keen on the auto sector, a survey said on Friday.... China to hire foreigners BEIJING, Nov 30: China is looking to recruit more foreign talent to help the nation develop industries, such as agriculture, new energy, information technology and biotechnology, state media reported on Friday.The... Karachi Port operations KARACHI, Nov 30: Ten ships carrying palm oil, phosphate and to load ethanol and cement are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Nov 30: Four ships carrying containers, edible oil and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Friday.... Rs1.05m fine imposed on Modaraba companies ISLAMABAD, Nov 30: The Securities and Exchange Commission of Pakistan (SECP) has imposed a total fine of Rs1.05 million on the chief executives and directors of Providence Modaraba Ltd and BRR... New secretary general for Riyadh-based energy forum RIYADH, Nov 30: Ambassador Arne Walther, the first ever secretary general of the Riyadh-based International Energy Forum Secretariat (IEFS), left Riyadh for Norway on Friday after completing his four-year tenure.... Poultry rates KARACHI, Nov 30: The following are Saturday’s poultry market rates:... Asian stocks up as hopes of US rate cut grow HONG KONG, Nov 30: Asian stocks closed mostly up on Friday amid growing hopes of a US interest rate cut, but Shanghai bucked the trend by falling more than two per cent as investors nervously eyed upcoming flotations.... Palm oil prices lower KUALA LUMPUR, Nov 30: Malaysian crude palm futures fell 2 per cent on Friday after rebounding the previous day as crude oil markets fell sharply and the outlook for demand and supply turned gloomy, traders said.... European stock markets higher LONDON, Nov 30: European shares rallied on Friday after US Federal Reserve chief Ben Bernanke cheered global markets by hinting at another US interest rate cut next month, dealers said.... Gold firms in London LONDON, Nov 30: Gold firmed in narrow ranges on Friday, struggling to recapture the key $800 mark and taking refuge from sharp swings in oil and currency markets.... Conversion rates KARACHI: The following are December 1 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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