DAWN - Business; December 08, 2007

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December 08, 2007	Saturday	Ziqa’ad 27, 1428

Fresh rise in wheat rates turns flour more costlier KARACHI, Dec 7: Retailers on Thursday pushed up the rates of various flour varieties by Re1-Rs2 per kg following fresh increase in wheat prices to Rs1,820 per 100 kg bag from Rs1,770 on Wednesday....		Large-scale manufacturing gets slow ISLAMABAD, Dec 7: The large-scale manufacturing (LSM) slowed down in the first quarter of this fiscal year as it recorded a marginal growth of 6.83 per cent over the corresponding period...

Many banks suspend consumer loans: Alarming rise in NPLs KARACHI, Dec 7: Non-performing loans of consumer financing by banks in Pakistan touched an alarming level of Rs15.4 billion in September 2007 which is up from Rs6.4 billion in June 06....		Dollar falls against euro after US data LONDON, Dec 7: The dollar came under pressure against the euro on Friday after lacklustre US jobs data was followed by weak consumer confidence figures, casting fresh doubts on the US economic outlook, dealers said....

Stocks finish weekend session on bullish note KARACHI, Dec 7: The share market on Friday remained in a bullish frame of mind as investors were not inclined to take even a technical breather at the weekend session and judiciously followed foreign investors irrespective of the price flare-up....		All-out help to textile sector assured KARACHI, Dec 7: Federal Minister for Commerce Shezada Alam Mannoo said on Friday that the government was in constant touch with the business community and was also holding negotiations with banks...

Distributors want Dec ’06 LPG prices restored LAHORE, Dec 7: The LPG Distributors Association has refused to accept the recent LPG price cuts made by the Parco and the JJVL, and demanded that prices be brought to the level of December 2006....		Risks growing for global property LONDON, Dec 7: The risks are growing but the US subprime crisis was just what the booming global real estate market needed to avoid a bigger and more damaging bubble further ahead, leading property investors and analysts said on Friday....

China to raise land taxes BEIJING, Dec 7: China will raise taxes on the industrial use of farmland from the beginning of 2008 and extend the levies to foreign companies in a bid to curb illegal land grabs, state media said on Friday....		No action on violation of wheat import conditions MULTAN, Dec 7: The Trading Corporation of Pakistan (TCP) did not forfeit the performance bond and other guarantees of the Australian Wheat Board (AWB) although the corporation was informed that certification...

Oil prices fall back under $90 LONDON, Dec 7: World oil prices tumbled by more than $1.50 on Friday as concerns resurfaced that slower US economic growth could dampen crude demand, traders said....		Equity participation KARACHI, Dec 7: Atlas Bank Limited on Friday announced the successful completion of its equity arrangement with Deutsche Investitions of Germany (DEG). As part of the agreement, DEG, a member of the world renowned Germany’s KfW Bankengruppe remitted Rs1.836...

Cotton prices fall on hasty selling KARACHI, Dec 7: Cotton prices on Friday fell from the current higher levels as some of the ginners holding long unsold positions indulged in hasty selling fearing further decline in prices.Floor...		Latin America to launch bank to rival IMF BUENOS AIRES, Dec 7: Latin American leaders on Sunday inaugurate the Bank of the South, the brainchild of Venezuela’s President Hugo Chavez, who hopes it will help wean the region off institutions like the IMF....

Karachi Port operations KARACHI, Dec 7: Nine ships carrying palm oil, containers and to load cement are due to arrive at the outer anchorage on Saturday, according to KPT sources....		Takeover offer HONG KONG, Dec 7: ArcelorMittal, the world’s largest steel producer, said on Friday it will make a takeover offer for China Oriental in a bid to gain a larger slice of the world’s biggest steel market....

Asian stocks mixed amid late profit-taking HONG KONG, Dec 7: Asian stocks closed mixed on Friday after late profit-taking eroded earlier gains made on the back of another buoyant performance by Wall Street overnight....		Palm oil prices higher KUALA LUMPUR, Dec 7: Malaysian crude palm oil futures ended 0.7 per cent higher on Friday, rebounding from the previous day’s five-week lows as crude and soyoil markets bounced on the strength of equity markets....

European shares jump LONDON, Dec 7: Europe’s main equity markets advanced on Friday after another overnight rally on Wall Street, but some investors remained cautious before the release of all-important US jobs data, dealers said....		Karachi market rates KARACHI, Dec 7: The following were Friday’s commodity market rates in rupees....

Privatisation AMSTERDAM, Dec 7: Dutch Finance Minister plans to privatise fewer public companies, and a newspaper quoted him as saying this was partly to prevent foreign sovereign funds from building stakes in key firms.—Reuters...		Conversion rates KARACHI: The following are December 8 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....