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December 11, 2007 Tuesday Ziqa’ad 30, 1428 Caretakers undecided over petrol price-hike ISLAMABAD, Dec 10: The caretaker government has concluded that petrol price has to be increased by Rs17 per litre to rein in the mounting fiscal deficit, but is hesitant to do that in the midst of the election fever.... ILO official highlights role of employers: Socio-economic growth KARACHI, Dec 10: Peace, political stability, good governance, social justice, adequate social protection and rule of law and security of property rights are some of the fundamental conditions for promotion of sustainable enterprises to tackle poverty issue in any country....   GST assessment value for sugar scaled down ISLAMABAD, Dec 10: The government on Monday slashed down the assessment value for the levy of 15 per cent general sales tax (GST) on sugar to Rs21 per kg from Rs24 ex-factory.... Apparel industry wants utility rates frozen KARACHI, Dec 10: The textile apparel industry has asked the government to freeze utilities’ rates for a period of 10 years and also enhance research and development support from six to... Stocks extend overnight gains KARACHI, Dec 10: Stocks on Monday remained in a bullish frame of mind as investors were not inclined to take even a technical breather long overdue in the backdrop of market’s sustained run-up during the last couple of weeks.... PC to set up 20 budget hotels LAHORE, Dec 10: Pearl-Continental Hotels will establish 20 budget hotels in the country during the next two years with six beginning operations in Lahore, Sialkot, Faisalabad, Gujranwala, Karachi and Multan during the next three months.... 13 EoIs received for Hazara Phosphate ISLAMABAD, Dec 10: The prospective investors have given very encouraging response by expressing interest for the acquisition of minimum of 90pc shares of Hazara Phosphate Fertilisers (Private) Limited (HPFL), together with management control on as is where is basis.... Warid CFO resigns to join Ufone LAHORE, Dec 10: After the chief executive officer of a cellular company, the chief financial officer of the same company has also resigned from his post to join a competitor as chief executive officer (CEO).... China warns US against politicising trade issues BEIJING, Dec 10: A senior Chinese trade official urged the United States to stop politicising commercial issues, state media said on Monday, at the start of a week of high-level Sino-US economic talks.... Rs2.5bn financing for housing projects KARACHI, Dec 10: Meezan Bank Ltd has signed an agreement with the Eden Builders to arrange Rs2.5 billion financing facility through Sukuk. The agreement was inked by Ch.... Dollar dips against euro LONDON, Dec 10: The dollar dipped against the euro and yen on Monday on the eve of a key US interest rate decision. In late European trading, the euro rose to $1.4706... Oil prices rally towards $90/barrel LONDON, Dec 10: World oil prices rallied towards $90 per barrel on Monday, rebounding from heavy losses ahead of the weekend, as the market looked to a possible surge in demand for heating fuel, traders said.... Technology exhibition KARACHI, Dec 10: Over 135 companies from around the globe are expected to participate in engineering technology exhibitions of MTAP and AAPP being held from Dec 12 to 15 at Karachi Expo Centre.... Lint prices slide on panic unloading KARACHI, Dec 10: Cotton prices on Monday eased further by Rs50 per maund as a section of ginners continued to liquidate their long positions fearing fresh fall in prices.... G7 plans Tokyo meeting in Feb TOKYO, Dec 10: Group of Seven policymakers are planning to meet in Tokyo on Feb 8, G7 sources have told Reuters, amid signs that Germany at least might push for a... Chinese wholesale prices pick up BEIJING, Dec 10: China’s producer or wholesale prices picked up in November, the latest indicator that inflation is rising fast in the world’s fourth largest economy.... Iran to sell 80pc of Bank Mellat TEHRAN, Dec 10: Iran will in the next months float shares in Bank Mellat on the stock market, making it the first state-owned bank to follow a privatisation plan aiming to reduce state ownership, officials said on Monday.... Budget surplus RIYADH, Dec 10: Oil-rich Saudi Arabia on Monday projected a 2008 budget of $120 billion, with a surplus of $10.7 billion.... Karachi Port operations KARACHI, Dec 10: Five ships carrying containers, chemical and to load cement and ethanol are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Dec 10: Four ships scheduled to load/offload containers, edible oil, diesel oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Monday.... Asian stocks close mostly lower HONG KONG, Dec 10: Asian stocks closed sharply lower on Monday with investors booking profits after recent gains and ahead of a decision on United States interest rates by the Federal Open Market Committee (FOMC).... Malaysian palm oil slips KUALA LUMPUR, Dec 10: Malaysian crude palm oil futures fell marginally on Monday because of rising stocks but losses were limited amid concerns rain could reduce output, traders said.... European shares edge higher LONDON, Dec 10: Europe’s main equity markets gained slightly on Monday as the banking sector reacted reassuringly to company announcements linked to the global credit squeeze.... Gold regains strength LONDON, Dec 10: Gold bounced on bargain hunting on Monday after a drop of around 1 per cent last week, but the metal was likely to trade in a tight range... TDAP seminar KARACHI, Dec 10: Trade Development Authority of Pakistan (TDAP) is organising a one-day seminar on “processes of value-added date products manufacturing” on Dec 13.... Conversion rates KARACHI: The following are December 11 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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