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January 15, 2008 Tuesday Muharram 05, 1429 Inflation stands at 8.48pc ISLAMABAD, Jan 14: Inflation stood at 8.48 per cent year-on-year during the seven months of the fiscal year 2005-06 mainly due to increase in the prices of food, housing, education and transport.... Govt fumbling in rice export policy KARACHI, Jan 14: Already experiencing wheat and flour crises, consumers are soon going to face rice shortage owing to indifferent attitude of the government towards rapid rise in prices of all varieties, including coarse rice and Basmati and its unchecked exports....   KSE 100-share index surges above 14,000 barrier KARACHI, Jan 14: The Karachi Stock Exchange (KSE) 100-share index on Monday again surged above the psychological barrier of 14,000 points as leading base shares came in for active short-covering at... Shirazi Group equity reshuffle KARACHI, Jan 14: Shirazi Capital (Pvt) Ltd — an unlisted corporate entity — informed the Karachi Stock Exchange on Monday that it had acquired a little over 19 per cent stake,... Dollar slides on rate cut prospects LONDON, Jan 14: The dollar slumped to a near record low against the euro on Monday on growing expectations the Federal Reserve will cut interest rates again this month to bolster the battered US economy, dealers said.... Companies given transitional period: Individual exemptions ISLAMABAD, Jan 14: The Competition Commission of Pakistan (CCP) on Monday granted companies a transitional period of 90 days for obtaining individual exemptions under section 5 of the Competition Ordinance, 2007... Credit growth slumps to 5-year low KARACHI, Jan 14: Political uncertainty and tight monetary policy finally resulted into much slower credit growth during the year 2007, while they changed investment pattern towards the government papers.... Oil prices higher LONDON, Jan 14: Oil prices marched higher on Monday, supported by tensions in crude producers Iran and Nigeria but concerns remained over a possible drop in US energy demand, traders said.... Live chicken, meat prices fall in Multan MULTAN, Jan 14: Prices of live chicken and meat have registered a decline of 20 per cent owing to seasonal slump in the consumer market.... Balance of trade shrinks in Dec ISLAMABAD, Jan 14: The balance of trade dipped by 2.98 per cent in December on the back of over eight per cent decline in the import bill, commerce ministry said on Monday.... New Saarc chamber chief KARACHI, Jan 14: Tariq Sayeed has been appointed president of the Saarc Chamber of Commerce and Industry.... 15pc GST on computer items to go ISLAMABAD, Jan 14: The government will withdraw the 15 per cent general sales tax (GST) on computer items from the next financial year.... Gold at record peak LONDON, Jan 14: Gold and platinum prices powered on Monday to fresh record highs as precious metals were supported by the weak US currency, traders said.... Firm trading on cotton market KARACHI, Jan 14: Trading on the cotton market on Monday resumed on a firm note as spinners remained active buyers around the current levels amid an actively traded session.... Bush, Congress face pressure on economy WASHINGTON, Jan 14: US President George W. Bush and the Democrats-led Congress, who battled last year over issues from Iraq to health care, face rising pressure to try to seek common ground on a plan to help the struggling economy.... US auto demand to fall in 2008 DETROIT, Jan 14: After years of crisis, the big three US automakers face another brutal year with demand expected to dip again due to an economic downturn threatening to snuff out 2007’s timid recovery.... France eyes big contracts with Saudi Arabia RIYADH, Jan 14: President Nicolas Sarkozy wrapped up a visit to Saudi Arabia on Monday saying French firms would sign major contracts with Riyadh, potentially worth 40 billion euros.... Big demand for India’s IPO predicted MUMBAI, Jan 14: India is set for its biggest ever initial public offering by Reliance Power, which begins on Tuesday and aims to raise nearly three billion US dollars, amid predictions of strong investor demand.... Karachi Port operations KARACHI, Jan 14: Six ships carrying containers and to load cement and ethanol are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Jan 14: Shipping activity remained active at the Port Qasim (PQ) where two ships MSC Germany and Vema Ocean, carrying containers and furnace oil took berths at Qasim International Containers... Elected KARACHI, Jan 14: Babar Badat and Tariq Mehmood have been elected chairman and vice chairman of Pakistan International Freight Forwarders Association (PIFFA) for 2008.... Asian shares mostly down on US earnings fears HONG KONG, Jan 14: Asian shares closed mostly down on Monday as investors braced for earnings reports from key US financial firms expected to post big losses, but Taiwan rose amid optimism after weekend polls.... European stocks close higher LONDON, Jan 14: Europe''s main stock exchanges edged higher on Monday after steep pre-weekend losses on Wall Street and ahead of a data-packed week, analysts said....

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