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January 04, 2008 Friday Zilhaj 24, 1428 Wheat import via Gwadar planned: SPA offers concessional rates ISLAMABAD, Jan 3: The government is likely to import 600,000 tons of wheat at Gwadar Port after having received an offer from Singapore Port Authority (SPA) to charge concessional rates for handling the transaction.... White wheat import to put burden on kitty MULTAN, Jan 3: The Trading Corporation Pakistan (TCP) has issued tenders for import of 0.31 million tons of white wheat that is said to be more expensive than the red wheat that is also fit for human consumption....   KSE 100-share index gains 643 points KARACHI, Jan 3: The Karachi Stock Exchange (KSE) 100-share index on Thursday roared back to its pre-reaction level as investors covered positions at the attractively lower levels, pushing it sharply higher by 643.04... Oil import bill reaches $3.768bn ISLAMABAD, Jan 3: Pakistan’s oil import bill reached $3.768 billion which is up by 14.75 per cent from $3.284 billion last year, statistics division said on Thursday.... Govt relying heavily on borrowings KARACHI, Jan 3: The government seems to be depending heavily on borrowings to meet its expenditure despite cuts in the annual targets of development budget.... Cotton imports up 107pc in five months ISLAMABAD, Jan 3: Pakistan’s raw cotton imports jumped 107 per cent to 1.35 million bales in the first five months of the 2007/08 fiscal year to November, traders and officials said on Thursday.... Oil prices dip LONDON, Jan 3: Oil prices eased Thursday but remained close to an unprecedented 100 dollars a barrel on worries about tight supplies and US currency weakness, which helped push gold to its own record.... LTFF to help Modernize industries RAWALPINDI, Jan 3: The Engineering Development Board (EDB) has called upon the engineering industry, in general, and exports, in particular, to fully utilise the Long-Term Financing Facility (LTFF) for modernising their... Dollar Wobbles on mixed US data LONDON, Jan 3: The dollar wobbled against euro here on Thursday on mixed data on the health of the US economy, while the single currency jumped to a record against the pound.... Reserves rise to $15.74bn KARACHI, Jan 3: Pakistan’s foreign exchange reserves rose by $14 million to $15.74 billion in the week that ended on Dec 29, the central bank said on Thursday.... Gold price Touches Rs16,885 KARACHI, Jan 3: Gold continued to break all its previous price record of peak level, and on Thursday it touched Rs16,885 per 10 grams while the rate of one tola gold hit Rs19,700.... EU’s concern over high oil prices BRUSSELS, Jan 3: The European Commission warned on Thursday that high oil prices, currently trading close to a record 100 dollars a barrel, would affect economic growth in the 27-nation bloc.... Active trading on cotton market KARACHI, Jan 3: Active trading was again witnessed on the cotton market on Thursday as mills and spinners continued to build-up long positions at the current level fearing fresh rise in prices.... US maintains foreign capital inflows WASHINGTON, Jan 3: The United States has maintained foreign capital inflows to finance its big balance of payments deficit but any drop-off in investment could end up hurting the economy, a Federal Reserve report showed on Thursday.... Karachi Port operations KARACHI, Jan 3: Seven ships carrying steel, phosphate, coal and to load molasses are due to arrive at the outer anchorage on Friday, according to KPT sources.... Elected KARACHI, Jan 3: Tariq Saud has been elected chairman of All-Pakistan Textile Mills Association (Sindh-Balochistan zone) for 2007-08.... LATI polls KARACHI, Jan 3: Riyaz Chinoy, Dawood Usman Jakhura and Zain Bashir have been elected chairman, senior vice chairman and vice chairman of the Landhi Association of Trade and Industry (LATI) for 2,008, says a press release.... Opec under pressure PARIS, Jan 3: The oil producing cartel Opec will face enormous pressure to help calm the febrile crude market at its next meeting in February after prices struck the symbolic 100-dollar level, analysts said on Thursday.... Asian shares close mostly down HONG KONG, Jan 3: Asian shares closed mostly down on Thursday after crude oil surged to a record $100 per barrel triggering a slide on Wall Street and stoking concerns about global economic prospects.... Karachi market rates KARACHI, Jan 3: The following were Thursday’s commodity market rates in rupees.... Palm oil prices higher KUALA LUMPUR, Jan 3: Malaysian crude palm oil futures climbed to a new high on Thursday, rising 2.5 per cent, on the back of record soybean oil and crude oil prices....

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