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December 04, 2007 Tuesday Ziqa'ad 23, 1428 Cement makers raise prices by Rs5 per bag KARACHI, Dec 3: After an increase of Rs10 to 15 per 50kg bag made by the Punjab-based cement makers a few days back, producers in Karachi and other parts of Sindh... State Bank acts to meet rising dollar demand KARACHI, Dec 3: The State Bank in a major move to ease pressure on dollar demand has slashed the Special Cash Reserve (SCR) requirement to five per cent aimed at improving supply of US currency in the interbank market....   Oil prices sink below $88 as eyes turn to Opec LONDON, Dec 3: Oil prices tumbled under $88 on Monday as the market took positions ahead of an Opec meeting later in the week on whether or not to hike output, dealers said.... Sugar mills post staggering losses KARACHI, Dec 3: Shareholders have long been accustomed to receive bitter results from sugar companies. But what the mills are dishing out this reporting season is not just bitter — it... Aziz, Vikram vying to head Citigroup KARACHI, Dec 3: Former Prime Minister Shaukat Aziz is vying against Vikram S Pandit of India for CEO’s slot at world’s largest bank Citigroup.... Proposals on Liberalising services sector ISLAMABAD, Dec 3: The government should establish an independent task force to prepare the country’s position for making commitments to liberalise various sectors for foreign services providers under the World Trade Organisation (WTO) regime.... Plan to enhance role of private sector in telecom ISLAMABAD, Dec 3: The caretaker government plans to restrict its role in the telecom sector, mainly to the provision of taxes and incentives while rest of the issues relating to investment will be handled by the private sector.... Cotton output declines by 19 per cent KARACHI, Dec 3: A steep fall in the arrival of phutti (seed cotton) from cotton fields in the Punjab had a negative impact on overall cotton production which declined by around 19 per cent at 7.276... Two task forces set up for SMEs, mortgage KARACHI, Dec 3: The State Bank has set up two separate task forces for the development of mortgage financing and to devise a mechanism for rating of SMEs.... Dollar eases LONDON, Dec 3: The dollar fell in late European trade on Monday, slipping back as players looked ahead to key data, including US job figures and central bank policy meetings in Britain and the eurozone, dealers said.... Stocks falter on election boycott rumours KARACHI, Dec 3: Trading on the stock market on Monday resumed on a cheerless note as leading investors kept to the sidelines most of the time amid conflicting reports about the election boycott by the opposition parties.... Kashmir Investment Bureau established ISLAMABAD, Dec 3: The Azad Jammu and Kashmir (AJK) government has decided to establish Kashmir Investment Promotion Bureau (KIPB) to facilitate foreign and local investors intending to invest in different sectors... Karachi Port operations KARACHI, Dec 3: Five ships carrying steel scrap, general cargo and containers are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Dec 3: Three ships carrying containers and edible oil arrived at the outer anchorage during the last 24 hours, said a PQA press release issued here on Monday.... Lint prices stay firm on slow phutti arrivals KARACHI, Dec 3: Trading on the cotton market on Monday resumed on a firm note followed by reports of lower than market expectations arrival figure of phutti for the fortnight ended Nov 30, floor brokers said.... UAE real estate group to invest $5bn in India NEW DELHI, Dec 3: A leading Gulf property developer said on Monday it would team up with a local partner to invest $5 billion in India’s booming real estate sector over the next five years.... French store PARIS, Dec 3: French high-end retail group Galeries Lafayette has signed a preliminary deal with a Hong Kong-based clothing group with a view to opening a department store in mainland China, the companies announced on Monday.... Karachi market rates KARACHI, Dec 3: The following were Monday’s commodity market rates in rupees.... US, China to sign import safety pacts WASHINGTON, Dec 3: The United States expects to sign pair of agreements with China next week to ensure that food, animal feed, drugs and medical devices that the country’s exports to... Russia to buy US beef CHICAGO, Dec 3: Encouraging comments that Russia may be close to buying more US beef drew positive comments from livestock analysts on Monday, but they said it may take actual purchases before cattle markets will react.... Gold slips in London LONDON, Dec 3: Gold slipped on lower oil prices and the prospect of a firmer US dollar ahead of a key data release on Monday, analysts said.... Asian stocks mixed amid hopes for US rate cut HONG KONG, Dec 3: Asian stocks were mixed on Monday as gains driven by hopes for another interest rate cut from the US Federal Reserve came hand-in-hand with profit-taking by wary investors.... Palm oil at one-month low KUALA LUMPUR, Dec 3: Malaysian crude palm futures fell to a one-month low on Monday as long liquidation pressures tied to weaker crude and soyaoil gripped the market.... European stock markets lower LONDON, Dec 3: European stock markets were generally lower on Monday in a muted start to the week, as investors eyed forthcoming interest rate decisions in Britain and the eurozone....

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