DAWN - Business; December 12, 2007

Low Graphics Site


December 12, 2007	Wednesday	Zilhaj 1, 1428

Govt plans to offload shares in seven firms ISLAMABAD, Dec 11: The caretaker government has agreed to offload Government of Pakistan’s shareholding in seven joint investment companies through Initial Public Offerings (IPOs) with a view to benefit them and...		Gas supply to general industry stopped LAHORE, Dec 11: The Sui Northern Gas Pipelines Limited on Tuesday started shutting supplies to general industry as gas demand rose to 2,200 million cubic feet against a supply of 1,850mmcf....

Trade deficit widens to record high at $7.201bn ISLAMABAD, Dec 11: Pakistan’s trade deficit widened by 32.39 per cent to a record high at $7.201 billion in the first five months of the current fiscal year against $5.439...		Diesel sales up 14pc in 5 months KARACHI, Dec 11: Diesel (HSD) sales during the first five months of the current financial year (July-November) increased by 14 per cent, which powered overall petroleum products sales by 13pc, over the corresponding period of the previous year....

Inflation surges by 8.67pc in Nov ISLAMABAD, Dec 11: Led by a double digit growth in food prices, the overall inflation rose by 8.67 per cent in November 2007 over the same month last year, the Federal Bureau of Statistics (FBS) data released on Tuesday showed....		Oil prices higher LONDON, Dec 11: Oil prices climbed strongly on Tuesday ahead of an expected cut to US interest rates which could support demand for energy, dealers said....

Law drafted for merger of FBS, PCO, ACO KARACHI, Dec 11: The government has drafted a law for merger of three attached departments of the Statistics Division which are Federal Bureau of Statistics (FBS), Population Census Organisation (PCO) and...		Euro slips against dollar LONDON, Dec 11: The euro was slightly lower against the dollar on Tuesday as traders awaited an expected quarter-point interest rate cut by the US Federal Reserve....

Stock index growing, says Salman LAHORE, Dec 11: Caretaker Federal Finance Minister Dr Salman Shah has said that the economy had shown resilience and there had been no disruption in it due to political upheaval....		Index gains on higher corporate earnings KARACHI, Dec 11: Selective support figured prominently on the share market on Tuesday as a section of investors covered positions on oil and banking sectors amid reports of higher earnings and payouts....

Cotton resists fresh fall in prices KARACHI, Dec 11: Cotton market on Tuesday resisted fresh fall as leading ginners held on to their long positions and did not lower their asking prices....		Karachi Port operations KARACHI, Dec 11: Seven ships carrying containers, general cargo and to load ethanol and cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....

Port Qasim KARACHI, Dec 11: Four ships carrying containers, chemicals and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday....		China, US to improve safety in food trade BEIJING, Dec 11: China said on Tuesday constant US criticism over trade disputes was hurting economics ties, although the world powers agreed at top-level talks to cooperate on improving the safety of Chinese exports....

TDAP meeting KARACHI, Dec 11: The Trade Development Authority of Pakistan (TDAP) is working on modalities for establishing Export Oriented Units (EOUs) as envisaged by the Trade Policy 2007-08....		Joint study KARAHCI, Dec 11: The setting up of a joint study group between India and Pakistan at private sector level has been proposed to explore the possibilities of a coordinated export strategy between the two countries in various areas, particularly textiles....

PLHC gets additional capital KARAHCI, Dec 11: Pak-Libya Holding Company (Pvt) Ltd has received an additional capital of Rs1,600 million, including foreign direct investment equivalent of $13.124m from its Libyan shareholders Ms Libyan Foreign Investment Company (LFICO) to meet the minimum capital requirement....		Iran seeks cooperation from KSE KARACHI, Dec 11: Masoud Mohammad Zamani, Consul-General of Iran here on Tuesday called for steps to strengthen cooperation and working relationship between the securities market of Pakistan and Iran....

Asian stocks close mostly higher HONG KONG, Dec 11: Asian stocks closed mostly higher on Tuesday as investors traded on speculation the federal reserve will cut US interest rates by at least a quarter point, and possibly even more....		Malaysian palm oil up KUALA LUMPUR, Dec 11: Malaysian crude palm oil futures edged higher on Tuesday on fears that heavy rains and flooding in key palm growing areas could limit harvesting activities....

Karachi market rates KARACHI, Dec 11: The following were Tuesday’s commodity market rates in rupees....		European shares fall LONDON, Dec 11: Europe’s top equity markets dropped on Tuesday, with banking shares losing further ground amid the subprime lending crisis and as investors positioned themselves before a key US interest-rate call....