DAWN - Business; December 15, 2007

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December 15, 2007	Saturday	Zilhaj 4, 1428

Banks borrowing changing trends KARACHI, Dec 14: The current year which is about to end, witnesses a sharp decline in advance to deposit ratio (ADR) reaching a three-year low in the first 10 months while reflecting slow outflow of credit from banks to its destinations....		IDA gets record pledges at donors’ meeting BERLIN, Dec 14: The World Bank body that aids the poorest countries said on Friday that donors had made record pledges for the next three years at a conference here, including China’s first-ever contribution....

Shortage of trucks hits exports KARACHI, Dec 14: Shortage of trucks and lorries, which are mostly engaged in transporting sacrificial animals, is jeopardising export of many seasonal produces. The worst affected are exporters dealing in rice,...		US energy bill calls for more fuel economy WASHINGTON, Dec 14: The United States will put the brakes on gasoline-guzzling vehicles with a landmark energy bill establishing new auto fuel economy standards that cleared a key hurdle and was set to become law....

Stocks gain on fresh selective short-covering KARACHI, Dec 14: Stocks on Friday staged a snap recovery as leading base shares came in for active short-covering at the lower levels and pushed the market in the plus column after persistent pruning during the last two sessions....		Indian inflation increases NEW DELHI, Dec 14: India’s annual inflation rate jumped unexpectedly nearly three-quarters of a point to 3.75 per cent on rising fuel and food prices, official data on Friday showed....

Oil prices ease on profit selling LONDON, Dec 14: Oil prices fell on profit-taking on Friday after a brief jump back above $93 here on expectations of higher demand for crude in 2008, traders said....		Citigroup’s financial migraine worsens NEW YORK, Dec 14: Citigroup’s move to shift ailing investments on to its balance sheet shows radical steps to right its finances, but analysts said on Friday the banking giant’s financial woes had worsened....

Dollar rises sharply as US inflation inches up LONDON, Dec 14: The dollar rose sharply on Friday against the euro after a larger-than-expected spike in US inflation suggested the US Federal Reserve may not find it so easy to continue cutting interest rates....		Turkish NTBs impeding growth in mutual trade ISLAMABAD, Dec 14: Pakistan has questioned Turkey’s trade regime embedded with non-tariff barriers (NTBs) restricting smooth flow of tradable commodities between the two countries, officials told Dawn on Friday....

LPG firms withdraw strike call ISLAMABAD, Dec 14: A delegation of LPG distributors and marketing companies, led by its chairman Mohammad Irfan Khokhar, called on Minister for Petroleum and Natural Resources, Ahsanullah Khan, here on Friday...		HSBC wins bid to acquire Chinese Bank TAIPEI, Dec 14: HSBC Holdings said on Friday it will acquire The Chinese Bank in Taiwan after winning a government auction here, substantially boosting its operations on the island....

Cotton market lacks normal trading interest KARACHI, Dec 14: Trading activity on the cotton on Friday fell to modest proportions as major trading centres in the Punjab remained closed owing to weekly holiday....		Lead content: changes in toys bill shot down WASHINGTON, Dec 14: An amendment that would give the US government jurisdiction over amusement parks like Disneyland and another to almost completely eliminate lead from toys were rejected by a US...

US inflation surges in November WASHINGTON, Dec 14: High oil prices drove US consumer inflation to the fastest pace in more than two years last month, data showed on Friday, raising concerns the Federal Reserve will hold back from further interest rate relief....		Deal to curb cigarette smuggling BRUSSELS, Dec 14: The European Commission signed a $400 million deal with Japan Tobacco International on Friday to fight cigarette smuggling and counterfeiting that costs the EU 6 billion euros ($8.72...

Karachi Port operations KARACHI, Dec 14: Six ships carrying palm oil and containers are expected to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was modest...		Port Qasim KARACHI, Dec 14: Three ships scheduled to load/offload containers and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Friday....

Facilitation centre PESHAWAR, Dec 14: The Bank of Khyber (BoK) will set up a facilitation centre at the Sarhad Chamber of Commerce and Industry (SCCI) to give first-hand information about various lending facilities to businessmen, and an MoU will be signed next month....		Elected KARACHI, Dec 13: Azam Malik and Mehboob Ali have been elected unopposed chairman and vice chairman of the Pakistan Ship- Breakers’ Association (PSBA), respectively....

Inflation SYDNEY, Dec 14: Australia faces an extended battle against inflation as China and India fuel an unprecedented economic boom in a period of global uncertainty, the country’s new Treasurer Wayne Swan warned on Friday....		Asian stocks close down on US concerns HONG KONG, Dec 14: Asian stocks traded mostly lower on Friday as investors continued to fret over the state of the US economy and any further fallout from a global credit squeeze....

Palm oil futures higher KUALA LUMPUR, Dec 14: Malaysian crude palm oil futures higher on Friday as investors waited for the crude oil market to break past a key resistance level before taking up positions....		World stocks sharply lower LONDON, Dec 14: World stock markets paused for breath on Friday after closing sharply lower the day before on concerns about the economic fallout of the US home loan crisis, notably the global credit crunch....

Gold slips below $800 LONDON, Dec 14: Gold edged lower to trade below $800 on Friday, pressured by a firmer dollar, with the bullion market awaiting key US data later in the day for direction....		Karachi market rates KARACHI, Dec 14: The following were Friday’s commodity market rates in rupees....

Conversion rates KARACHI: The following are December 15 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....