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January 17, 2008 Thursday Muharram 07, 1429 Bumper cane crop to yield 4m tons of white sugar KARACHI, Jan 16: The bumper sugarcane crop of around 60 million tons for on-going current season is likely to produce about four million tons of white refined sugar which will take... Business cost inflates in five years: WTO ISLAMABAD, Jan 16: The cost of doing business has inflated in Pakistan in the last five years on the back of structural weaknesses, including infrastructural bottlenecks, excessive regulatory controls and labour...   KSE 100-share index plunges KARACHI, Jan 16: Stocks fell across a broad front on Wednesday on nervous selling prompted by security concerns, notably on reports that all political leaders are under terrorist threat.... Sugar Industry facing Rs42bn shortfall ISLAMABAD, Jan 16: The sugar industry has informed the government that it was facing a cash shortfall of Rs30-42 billion on account of sugarcane price and production cost that would lead... Traders vow to resist early closure move KARACHI, Jan 16: As the Labour Department officials have yet to come out in the markets to enforce shop closure by 7.30pm, various trade associations have unanimously resolved to reject the proposal of early closure.... Bush calls for Opec output hike SHARM EL-SHEIKH, Jan 16: US President George W. Bush voiced hope Opec will increase oil output to combat high world prices, after his talks with King Abdullah of Saudi Arabia, the world’s top crude producer.... Oil prices fall LONDON, Jan 16: Oil prices sank under $90 on Wednesday as traders seized on rising US crude reserves and after US President George W. Bush called on Opec to increase output to help cut the cost of energy.... Dollar up after ECB inflation remarks LONDON, Jan 16: The dollar bounced back sharply on Wednesday after comments from senior European Central Bank officials undercut market assumptions that Eurozone interest rates were a one-way bet to hold or go higher.... Tarin re-elected KSE board chairman KARACHI, Jan 16: Shaukat Tarin has been re-elected chairman of the board of directors of Karachi Stock Exchange for 2008.... Scope of e-filing extended ISLAMABAD, Jan 16: The Federal Board of Revenue (FBR) has issued three sales tax notifications, amending the Sales Tax Act.... Plan to boost seafood exports KARACHI, Jan 16: The Trade Development Authority of Pakistan (TDAP) and the seafood exporters on Wednesday discussed a plan to improve fisheries in Pakistan and seafood exports.... Six-month T-bill cut-off yield rises KARACHI, Jan 16: The cut-off yield on 6-month treasury bills rose at an auction on Wednesday to 9.2962 per cent from 9.2523 per cent, State Bank of Pakistan said.... Oil deal ADDIS ABABA, Jan 16: Ethiopia signed an oil exploration deal with the British firm White Nile for 29,500 square kilometre (11,400 square miles) block in the south of the country, the government announced on Wednesday.... Rate cut TORONTO, Jan 16: The Bank of Canada should consider cutting its key interest rate by 50 basis points next week to avoid unwanted appreciation in the Canadian dollar, JP Morgan said on Wednesday.—Reuters... IMF sees Iraq economy, oil output recovering WASHINGTON, Jan 16: Iraq’s economy is expected to find stability in 2008-2009 despite political and security problems as oil production recovers and the government moves ahead with reforms, the IMF said on Wednesday.... Karachi Port operations KARACHI, Jan 16: Four ships, carrying containers and oil, are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Jan 16: Three ships scheduled to load and offload containers, edible oil and furnace oil were allotted berths at Qasim International Containers Terminal, Multipurpose Terminal and FOTCO Oil Terminal, respectively, on Tuesday.... Cotton prices maintain firm outlook KARACHI, Jan 16: Cotton market on Wednesday maintained a firm outlook as prices remained stable around the previous levels amid a modestly traded session.... Karachi market rates KARACHI, Jan 16: The following were Wednesday’s commodity market rates in rupees.... Elected KARACHI, Jan 16: The newly-elected managing committee of the Port Qasim Association of Trade and Industry has elected the following office-bearers for 2008: Naeem Ilyas Khanani (chairman), Mian Mohammad Ahmed (vice chairman), Farhan Zafar (Hon General Secretary), Usman Ahmed (treasurer).... Company news MOSCOW, Jan 16: Russia’s top oil firm Rosneft registered a surge in net income in the third quarter of 2007, results released on Wednesday showed, as the company boosted output using assets bought from bankrupt rival Yukos.... Asian shares plunge on US recession fears HONG KONG, Jan 16: Asian shares plunged Wednesday as fears that the US is heading for a recession reached a new crescendo, casting a pall over stock markets around the world.... Cheap power fuels Mideast aluminium expansion DUBAI, Jan 16: Middle East aluminium producers are shrugging off record global energy prices as they exploit a competitive advantage of cheap gas-generated electricity and a construction boom to increase world market share.... Palm oil futures drift lower KUALA LUMPUR, Jan 16: Malaysian crude palm oil futures fell 1.7 per cent on Wednesday, moving into a second day of losses after sharp falls in crude markets and weakening demand from the biofuel sector spurred profit-taking....

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