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December 19, 2007 Wednesday Zilhaj 8, 1428 Sindh wants ECC to reconsider tariff issue : Coal-based power plants KARACHI, Dec 18: The Sindh government and business leaders have reacted sharply to the spanner thrown by a federal government energy adviser in the programme for gainful and productive exploitation of... Euro fails to take advantage of weak US data LONDON, Dec 18: The euro barely budged against the dollar here on Tuesday, failing to take advantage of a fresh data revealing the depth of the crisis in the US housing sector....   sRemittances soar 23.62pc in 5 months KARACHI, Dec 18: Overseas Pakistanis sent 23 per cent more money to Pakistan in the first five months of the current fiscal, SBP reported on Tuesday.Remittances... Competition Commission still without seed money ISLAMABAD, Dec 18: The Competition Commission launched in place of the disbanded Monopoly Control Authority is proving a non-starter for want of money.... Faysal Bank allowed 10pc redemption of NIT units KARACHI, Dec 18: Faysal Bank Limited — one of the three major Letter of Comfort (LoC) holders in National Investment Trust (NIT) — has announced its intent to accept the government’s... ECB opens cash taps to fight credit crisis FRANKFURT, Dec 18: The European Central Bank handed unlimited amounts of two-week cash to money markets on Tuesday, an unprecedented step aimed at easing a global credit squeeze that risks choking off the commercial bank lending on which business depends.... China forms key agency to manage oil reserves SHANGHAI, Dec 18: China said on Tuesday it had set up a special office to handle its strategic oil reserves that will aim to better manage and ensure the faster construction of storage facilities.... Crude oil prices increase LONDON, Dec 18: Oil prices rose strongly on Tuesday, catapulting above 92 dollars a barrel on Middle East supply concerns as Turkish troops entered northern Iraq to flush out Kurdish rebels,... Equity prices fall amid cautious trading on KSE KARACHI, Dec 18: Stocks on Tuesday lacked normal trading interest as leading investors were not inclined to make fresh commitments but rather took profit on selected counters at the inflated levels.... Two banks to open branches in Moscow KARACHI, Dec 18: Russian Ambassador Sergey N Peskow said on Tuesday that National Bank of Pakistan and Askari Commercial Bank would open their branches in Moscow soon to facilitate exporters.... Exemption ISLAMABAD, Dec 18: The Federal Board of Revenue (FBR) has exempted customs duty in excess of 10 per cent ad valorem on import of raw materials used in the manufacturing of agriculture diesel engine.... New Broadband service launched LAHORE, Dec 18: The days of disappointing and unreliable broadband internet connections may soon be over following the launch on Tuesday of Wateen Telecom’s WiMAX (Worldwide Interoperability for Microwave Access) service across the country on Tuesday.... PTCL hires three firms to recover bad debts ISLAMABAD, Dec 18: Pakistan Telecommunication Company Limited on Tuesday signed contracts with three local companies for recovering over Rs6.5bn in bad debts from the defaulters.... Indian FDI jumps 65pc NEW DELHI, Dec 18: Foreign investment in India jumped 65 per cent in the first half of the fiscal year that began in April compared with a year earlier, the country’s commerce minister said on Tuesday.... Lint prices stay firm as phutti arrivals dip KARACHI, Dec 18: Cotton prices on Tuesday remained stable around the overnight levels amid a moderately traded session followed by release of latest data on phutti arrivals by the Pakistan Cotton Ginners Association (PCGA).... WB chief’s advice to developing nations BEIJING, Dec 18: China and other developing countries must place a much greater priority on adapting to climate change, World Bank president Robert Zoellick said on Tuesday.... Indonesia’s FDI hits five-year high JAKARTA, Dec 18: Actual foreign direct investment (FDI) in Indonesia reached 10.2 billion dollars as of mid-December, the highest since 2002, National Investment Coordinating Board chief Muhammad Lutfi said Tuesday.... Karachi Port operations KARACHI, Dec 18: Eight ships carrying chemicals, crude oil and to load molasses are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, Dec 18: Four ships to load and offload containers, chemicals and coal were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.... KESC bills KARACHI, Dec 18: The Karachi Chamber of Commerce and Industry (KCCI) has urged the Karachi Electric Supply Corporation (KESC) to extend the last date for payment of utility bills till Dec 31.... Efforts urged to remove EU ban on seafood KARACHI, Dec 18: Caretaker federal Minister for food, agriculture and livestock Prince Mohammad Isa Jan Baloch on Tuesday urged all stakeholder in fisheries sector to give up differences and gear up efforts for removal of EU ban on Pakistani seafood.... Asian stocks close mostly down on US fears HONG KONG, Dec 18: Asian stocks closed mostly down on Tuesday as concerns that inflation may stop the ailing US economy from cutting borrowing costs continued to sour investor sentiment.... European stocks rebound LONDON, Dec 18: Europe’s leading equity markets rallied on Tuesday, a day after world stocks had slumped on concerns about resurgent US inflation.... Palm oil futures lower KUALA LUMPUR, Dec 18: Malaysian crude palm oil futures fell 0.8 per cent on Tuesday as investors cashed in on the previous session’s strong gains amid weaknesses in crude and soyaoil markets, traders said.... New pipelines MOSCOW, Dec 18: Russian President Vladimir Putin said on Tuesday that construction of two new energy pipelines to southern Europe would boost energy security of the continent as a whole.... Karachi market rates KARACHI, Dec 18: The following were Tuesday’s commodity market rates in rupees....

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