DAWN - Business; January 08, 2008

Low Graphics Site


January 08, 2008	Tuesday	Zilhaj 28, 1428

Dollar bounces back LONDON, Jan 7: The dollar gained on Monday after a sharp decline last week was sparked by fears of a recession in the United States, dealers said....		SECP told to protect rights of shareholders ISLAMABAD, Jan 7: The International Finance Corporation (IFC) — a private sector arm of the World Bank — has urged the Securities and Exchange Commission of Pakistan (SECP) to protect the...

9,565 vehicles imported during July-Dec KARACHI, Jan 7: Around 9,565 vehicles of various categories were imported during the first half of the current fiscal (July-December 2007) having a value of Rs4.883...		Karachi LPG retailers reject Ogra gas price cut KARACHI, Jan 7: The LPG retailers in Karachi have rejected the retail rate of Rs63 per kg fixed by the Oil and Gas Regulatory Authority (Ogra) and LPG Association of Pakistan...

Banks reluctant to reopen looted, burnt branches KARACHI, Jan 7: Banks may not restore all the branches looted or burnt in the recent violence. The loss creates a new history in the banking industry....		Prices of grey cloth register sharp rise FAISALABAD, Jan 7: Prices of grey cloth have registered a sharp surge at the local yarn market owing to short production by looms that was being caused by severe power fluctuations, Dawn learnt on Monday....

Oil boom TOMSK (Russia), Jan 7: Three thousand kilometres east of Moscow and sitting on a frozen swamp the size of France, the city of Tomsk has struggled economically since the Trans-Siberian Railway passed it by at the end of the 19th Century....		SPS regulations KARACHI, Jan 7: The TDAP has formed a committee to look into all aspects relating to sanitary and phytosanitary standards (SPS) to minimise the incidents of rejection of export consignments to European Union....

KSE 100-share index loses 96.49 points KARACHI, Jan 7: The share market on Monday failed to extend the weekend run-up as investors took profits at the higher levels discouraged apparently by the State Bank’s quarterly report pointing...		US mulls steps to ease housing slump WASHINGTON, Jan 7: US Treasury Secretary Henry Paulson warned on Monday that the housing market’s woes are far from over, but said the government was mulling further measures to minimise economic harm....

Oil prices fall sharply LONDON, Jan 7: Oil prices fell sharply away from their historic highs of above 100 dollars on Monday as traders took profits amid fears that slower US economic growth could crimp global energy demand....		Polish trade missions due this year KARACHI, Jan 7: At least six Polish trade missions will visit Pakistan this year....

Conversion rates KARACHI: The following are January 8 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....		Lithuania eyes EU approval VILNIUS, Jan 7: Lithuania hopes that the European Union could approve in 2010 its plans to ultimately join the single currency bloc, the country’s president said on Monday....

Cotton trading resumes on bullish note KARACHI, Jan 7: Trading on the cotton market on Monday resumed on a bullish note as mills and spinners continued to build-up long positions at the current levels owing to pressure on ready supplies....		Karachi Port operations KARACHI, Jan 7: Five ships carrying palm oil, containers and to load molasses are due to arrive at the outer anchorage on Tuesday, according to KPT sources....

Global economic growth robust, inflation risks remain: Trichet BASEL (Switzerland), Jan 7: Global economic growth is “robust” but inflation risks remain as markets absorb the impact of the US subprime home loan crisis and higher food prices, European Central Bank chief Jean-Claude Trichet said on Monday....		Gazprom confirms talks with Nigeria MOSCOW, Jan 7: Russian gas export monopoly Gazprom confirmed on Monday it is in talks with the Nigerian government to develop the African country’s vast natural gas reserves....

Saudi gold demand higher DUBAI, Jan 7: Saudi Arabia gold sales rose almost 17 per cent in volume and 30 per cent in value in 2007 from the previous year as the economy of the...		Asian shares close mostly down HONG KONG, Jan 7: Asian shares closed mostly down on Monday amid mounting fears of a US recession, with Taiwan plunging more than four per cent, but India and Malaysia bucked the trend to achieve record highs....

Palm oil futures up KUALA LUMPUR, Jan 7: Malaysian crude palm oil futures hit a new high on Monday, rising 2.2 per cent on fears of tight supplies amid market talk that India was planning to reduce import duties on vegetable oils....		UK share prices lower LONDON, Jan 7: Shares in UK retailers extended their deep losses on Monday, with number three supermarket group J. Sainsbury and leading clothing retailer Marks & Spencer particularly hard hit by talk of weak trading....