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December 09, 2007 Sunday Ziqa'ad 28, 1428 People who own greatest amount of wealth KARACHI, Dec 8: It was really the late lamented Dr Mahbubul Haq who first sifted the few rich and mighty families from teeming millions in Pakistan.... Reconstitution of TDAP board ordered KARACHI, Dec 8: Commerce Minister Shahzada Alam Mannoo has ordered reconstitution of the board of directors of the Trade Development Authority of Pakistan (TDAP) to make it more balance and effective....   Opec keeps all options open RIYADH, Dec 8: Focus kept shifting from the Conference Palace in Riyadh to the polling stations of Caracas, and from Doha Sheraton to finally the Emirates Palace in Abu Dhabi.... Banking spread shrinks significantly KARACHI, Dec 8: Rising competition for deposits forced banks to increase returns on their deposits which resulted in the decline of banking spread. The State Bank, which released latest figures showing... S. Arabia to open equity market for foreigners DUBAI, Dec 8: Saudi Arabia, the world’s largest oil exporter, plans to allow foreigners to invest in its stocks and initial public offerings through domestic funds, the stock market regulator said in an interview aired on Saturday.... China to promote ties in oil, gas ISLAMABAD, Dec 8: Ambassador of China, Lou Zhao Hui called on Minister for Petroleum and Natural Resources, Ahsan Ullah Khan here on Saturday and discussed with him matters pertaining to promoting bilateral cooperation in the petroleum sector.... Prices of 16 items go up ISLAMABAD, Dec 8: Prices of 16 essential kitchen items witnessed an upward trend during the week ending on Dec 6 over the previous week, according to statistics released by the Federal Bureau of Statistics (FBS) here on Saturday.... CFS rates fall on slow demand for funds KARACHI, Dec 8: The CFS rates on the Karachi Stock Exchange last week fell by 116 basis points at 11.3pc as demand for fresh financing showed a considerable decline at the fag-end of the week.... Gulf states set to discuss revaluation MANAMA, Dec 8: Gulf Arab policymakers will meet within days to discuss currency revaluations after the oil producing region’s rulers agreed to keep exchange rates pegged to the weakened dollar, Bahrain’s foreign minister said on Saturday.... LPG users denied benefit of price cut KARACHI, Dec 8: Consumers in the megapolis are yet to see any cut in retail price of liquefied petroleum gas (LPG) despite the fact that the Jamshoro Joint Venture Company Limited... Farmers to get loans under CSF scheme ISLAMABAD, Dec 8: Loans will be provided to farmers to bring 25 per cent more land under horticulture development. This was decided at a high-level meeting held here on Friday.... LPG prices hit record high last week ISLAMABAD, Dec 8: As the chilly weather is getting harder, the average national price of liquefied petroleum gas (LPG) reached a record high in the first week of the de-regulation of... Sale of PMTF ISLAMABAD, Dec 8: The Privatisation Commission here on Saturday extended the last date for submission of Expressions of Interest (EoI) for acquisition of a minimum of 90pc shares of Pakistan Machine Tool Factory (Pvt) Limited (PMTF) up to Jan 22.... Easier conditions on cotton market KARACHI, Dec 8: Cotton prices on Saturday eased further by another Rs50 per maund as ginners continued to liquidate their long positions in view of Eid holidays and closure of foreign... TCP accepts bids for wheat ISLAMABAD, Dec 8: To overcome the wheat crises and to discourage hoarding in the country, the Trading Corporation of Pakistan (TCP) has accepted bids for import of over 800,000 tons of wheat.... Karachi Port operations KARACHI, Dec 8: Seven vessels carrying containers are expected to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was slow where two ships, Eric G.... Plgmea chief KARACHI, Dec 8: Mohammad Danish Khan and Atif Ashraf have been elected chairman and vice chairman, respectively, of the Pakistan Leather Garment Manufacturers and Exporters Association (Plgmea) Southern Zone for the year 2007-08.... Poultry rates KARACHI, Dec 8: The following are Sunday’s poultry market rates:... Oil prices lower despite Opec decision, falling US stocks LONDON, Dec 8: Oil prices eased this week despite Opec’s decision to hold output levels and news of plunging crude reserves in the United States. Elsewhere, precious metals mostly rose on... Higher yuan will provide clearer market signals: US WASHINGTON, Dec 8: China should not worry about allowing a more rapid appreciation of its currency as the yuan’s 12 percent rise over the last two years has not dampened the... NY cotton futures higher NEW YORK, Dec 8: Cotton futures finished higher Friday on late speculative fund buying as most players sat back to wait for release of a government crop report next week, brokers said.... Dollar mixed NEW YORK, Dec 8: The dollar traded mixed on Friday as the market braced for next week’s Federal Reserve policy meeting and reacted to a US employment report suggesting sluggish growth ahead.... US stocks up NEW YORK, Dec 8: Wall Street enters the home stretch of 2007 in an upbeat mood as investors brace for a meeting of the Federal Reserve which is widely expected to yield a third straight cut in US interest rates.... Conversion rates KARACHI: The following are December 10 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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