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December 30, 2007 Sunday Zilhaj 19, 1428 Looting, arson shatter traders’ confidence KARACHI, Dec 29: Hopefully on Monday, when business in Karachi and other parts of country resumes, after more than 90 hours suspension, caused by the assassination of Pakistan’s popular political leader... Regulators do not see crisis looming on KSE KARACHI, Dec 29: The board of directors of Karachi Stock Exchange did not meet in...   Plan to boost olive oil production ISLAMABAD, Dec 29: The government has planned to enhance olive oil production and processing areas in 12 districts of Balochistan to bring 6000 acres land for cultivation of olive orchards.... Banks suffer loss of billions in violence KARACHI, Dec 29: When banks will open their business, only then will they find how much loss banks have to incur after violent protests to mark the anger over killing of Benazir Bhutto last Thursday.... Collapse of insurance companies feared KARACHI, Dec 29: Insurance companies will bear the major brunt of huge losses incurred during violence in the county and the biggest loss would be in Karachi where more than 700... Plea to extend date for filing of tax returns KARACHI, Dec 29: The All-Pakistan Tax Bar Association (APTBA) has asked the Federal Board of Revenue (FBR) to extend the last date of Dec 31 for filing of tax returns by at least 15 days.... Big demand for US wheat WASHINGTON, Dec 29: Unusually high global demand for US wheat, which has been boosted by purchases from Japan and lower output from major producers due to weather, should last into the middle of next year.Weather... Business and trade remain suspended KARACHI, Dec 29: All business and external trade activities remained at a standstill for the second consecutive day on Saturday following eruption of riots in several parts of the city after the assassination of PPP chairperson Benazir Bhutto.... China to pay billions for C. Asia gas pipeline BEIJING, Dec 29: China’s biggest oil company, China National Petroleum Corp., will spend 16 billion yuan ($2.2 billion, euro1.5 billion) to help build a natural gas pipeline from Turkmenistan that will... Reserves LUSAKA, Dec 29: Zambia’s international reserves hit over a billion dollars this year, the highest figure in the country’s history, the central bank governor announced on Saturday.... Businesses express mixed feelings on uncertainty KARACHI, Dec 29: There are many businessmen who are apprehensive of Pakistan’s future political and social stability and economic prospects after the Thursday evening bomb blast and gun firing at Liaquat... Loot, plunder may create shortage of food items : 25 godowns looted KARACHI, Dec 29: Angry mobs remained on the rampage till Saturday as they looted an estimated Rs100 million worth of rice and pulses from various godowns in Usmanabad near Chakiwara and Lyari since Friday.... German upturn slowing slightly BERLIN, Dec 29: The DIW economic research institute expects German economic growth to slow only slightly in 2008 and forecast it will expand by more than two per cent, the head of economic research was quoted as saying on Saturday.... Sales of new homes in US decline WASHINGTON, Dec 29: Sales of new US homes fell in November to the lowest rate since 1995, but business activity perked up this month, according to reports on Friday that showed... Job weakness may dictate US rate cuts CHICAGO, Dec 29: Increasingly weak job growth is likely to dictate more interest-rate cuts from the Federal Reserve in the first quarter of 2008, regardless of an uptick in inflation.... Serbia to hold talks on Russian energy pact BELGRADE, Dec 29: The Serbian government said on Saturday it would continue negotiations with Russia on a controversial energy pact that would potentially see Serbia included in Russia’s “South Stream” gas pipeline.... Ecuador okays tax reform bill QUITO, Dec 29: Ecuador’s constitutional assembly late on Friday approved a wide-ranging tax reform bill introduced by President Rafael Correa that has put him at odds with influential politicians and business leaders.... China eases foreign participation in securities BEIJING, Dec 29: China eased some of its restrictions on foreign participation in domestic securities companies in a revised regulation published on Friday.... UBS drops acquisition deal ZURICH, Dec 29: Swiss banking giant UBS said on Friday it had dropped plans to acquire a mutual fund management business in India from the British group Standard Chartered.... China to conduct tight monetary policy in ’08 BEIJING, Dec 29: China’s central bank will implement a tight monetary policy in 2008, using a range of tools to keep a check on liquidity, central bank governor Zhou Xiaochuan said in comments published on Saturday.... Indonesia to boost oil output: FM JAKARTA, Dec 29: Indonesia’s Finance Ministry announced new fiscal incentives on Saturday to boost the country’s oil production, which is likely to be below this year’s target.... Wall Street shares virtually flat NEW YORK, Dec 29:US stocks closed almost unchanged on Friday, losing earlier gains after an unexpectedly sharp drop in new home sales renewed worries about the impact of the persistent housing slump on the economy.... Oil spikes towards $100 after Benazir’s killing LONDON, Dec 29: Oil prices surged towards $100 per barrel this week after Pakistani opposition leader Benazir Bhutto was killed by a suicide bomber.... Toshiba eyes quadrupling flash memory output TOKYO, Dec 29: Japan’s Toshiba plans two new flash memory plants, allowing it to quadruple output capacity and putting it in a position to overtake market leader Samsung Electronics, a newspaper reported on Saturday.... Russian wheat MOSCOW, Dec 29: Russia’s wheat export duty of 40 per cent of customs value but no less than 105 euros ($155) per ton announced on Friday will become effective at the end of January, the government said on Saturday.... US gold up on 5th straight day NEW YORK, Dec 29: US gold futures rose on Friday, ending more than 1 per cent higher as a weak dollar and geopolitical tensions pushed prices toward key technical levels, traders said.... NY cotton extends rally to end at new 33-month peak NEW YORK, Dec 29: Cotton futures settled on Friday at their highest level since early 2004 on sustained all-around buying as lower US cotton sowings next year stoked a rally in the market, brokers said.... ECB to act decisively against inflation FRANKFURT, Dec 29: The European Central Bank would act decisively against knock-on inflation effects from higher wage demands, ECB Governing Council member Axel Weber said in comments released on Saturday.... Indonesia ’07 budget deficit lower JAKARTA, Dec : Indonesia’s 2007 budget deficit is estimated at 1.2 per cent of gross domestic product, smaller than expected, despite high oil subsidies from soaring oil prices, Finance Minister Sri Mulyani Indrawati said on Saturday.... China LCD merger talks SHANGHAI, Dec 29: Major Chinese liquid crystal display makers said on Saturday that merger talks between them, designed to create a globally competitive panel-making giant, had been unsuccessful....

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