DAWN - Business; January 01, 2008

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January 01, 2008	Tuesday	Zilhaj 21, 1428

Questions about health of economy in 2008 KARACHI, Dec 31: What the year 2008 has in store for Pakistan’s business and economy? This question begs for an answer from the economic managers, as on the last day of...		KCCI to assess trade losses KARACHI, Dec 31: The Karachi Chamber of Commerce and Industry (KCCI) has set up a “help desk” for industrialists and traders to articulate their demand for payment of compensation for the losses incurred by them after the Dec 27 incident....

Businesses expect ’08 to be more productive KARACHI, Dec 31: Discounting the direct impact on the industry of the current crisis, the business expects Calendar 08 more productive for trade and industry than the year 07 that closed...		Imported buses still awaiting clearance KARACHI, Dec 31: In the absence of proper guidelines and criteria from the Ministry of Commerce for determining rule of origin of 15 CNG-dedicated buses imported from the United Arab Emirates...

KSE index plunges by record 696.83 points KARACHI, Dec 31: The Karachi Stock Exchange (KSE) 100-share index suffered one of the biggest single session fall of 696.83 points or 4.71 per cent in its trading history on Monday...		GCC states forming common market RIYADH, Dec 31: Nearly three decades after the idea was first mooted, the six oil-rich Gulf monarchies enter the new year after finally establishing a common market with a combined economy of $715 billion....

’07 was not so good for Balochistan businessmen QUETTA, Dec 31: No signs of relief are visible in the coming new year for the business and trade community due to uncertainty which has griped the country after the assassination of PPP chairperson Ms Benazir Bhutto....		Oil prices rise on Pakistan unrest LONDON, Dec 31: Oil prices rose solidly on Monday, pushed higher by concerns about instability in Pakistan and tensions on the Turkish border with oil-rich Iraq, dealers said....

Aptma seeks restoration of peace KARACHI, Dec 31: The chairman-elect of All-Pakistan Textile Mills Association, Iqbal Ebarhim, has urged the government to immediately deploy adequate number of law-enforcers for protection of life and property of businessmen as well as citizens....		SBP extends deadline for CNICs KARACHI, Dec 31: The State Bank of Pakistan (SBP) has extended the deadline for obtaining copies of Computerised National Identity Cards (CNIC) from all bank and DFI clients and customers from Dec 31 to March 31....

Dollar gains against euro NEW YORK, Dec 31: The dollar rose against the euro but fell against the yen in the final trading day of 2007 on Monday, though dealers resisted making big bets until volume increases after New Year’s Day....		Home sales up in US WASHINGTON, Dec 31: Sales of previously owned homes in the US inched up in November but that did not change the overall bleak picture for an ailing housing industry that has been suffering through a painful slump....

Sale of shares KARACHI, Dec 31: The Karachi Stock Exchange has extended the subscription period to offers for sale of ordinary shares of the Arif Habib Bank Limited in response to a request made by the offerer....		Bank holiday KARACHI, Dec 31: The offices of State Bank of Pakistan and SBP Banking Services Corportion, including the Public Debt Offices, will remain closed for public dealing on Jan 1, which has been declared a bank holiday....

Chinese export taxes to benefit US corn CHICAGO, Dec 31: US corn will benefit from China’s decision to tax grain exports in 2008 but most traders had already expected China to halt overseas sales to control soaring domestic food inflation, said grain traders on Monday....		Cotton market: trading resumes on quieter note KARACHI, Dec 31: After a three-day closure, trading on the cotton market resumed on Monday on a quieter note as buyers and sellers kept to the sidelines, awaiting apparently fresh news on law and order front....

Karachi Port operations KARACHI, Dec 31: Five ships, carrying urea, containers and to load clinkers and cement, are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....		Chinese bank to get $20bn bailout BEIJING, Dec 31: An arm of China’s massive new investment fund is to inject 20 billion dollars into China Development Bank as part of a restructuring plan, the central bank said on Monday....

Asian stocks close mostly higher HONG KONG, Dec 31: Asian stocks closed mostly up on Monday, capping a turbulent year of sharp gains despite a US financial crisis and concerns that share prices had become too expensive....		Palm oil prices lower KUALA LUMPUR, Dec 31: Malaysian crude palm oil futures fell more than 2 per cent on Monday as players booked profits at the end of the year after strong gains lifted the market to record highs last week....

Gold heads for largest yearly gain LONDON, Dec 31: Gold was on track for its biggest yearly gain since 1979, with prices hovering on Monday about $10 away from its historic highs....		Karachi market rates KARACHI, Dec 31: The following were Monday’s commodity market rates in rupees....

Rupee hits six-year low KARACHI, Dec 31: The Pakistani rupee sank to a six-year low on Monday as investors reacted to the assassination of Ms Benazir Bhutto whose death plunged the country into a violent political crisis....		Conversion rates KARACHI: The following are January 2 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....