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January 19, 2008 Saturday Muharram 09, 1429 PSO, SSGC, others claim losses worth Rs230m: December 27 riots KARACHI, Jan 18: The public sector National Insurance Company (NIC) is expected to offer a total compensation of about Rs225 to Rs230 million against claims of about Rs300 million to nine... Phutti arrivals fall by 13.68pc KARACHI, Jan 18: Phutti arrival from cotton fields to ginneries remained slow by 13.68 per cent at 9.974 million bales, compared to the corresponding period of last year when production stood at 11.555...   Stocks recover overnight losses KARACHI, Jan 18: The KSE 100-share index on Friday staged a snap rally of 200 points or 1.47 per cent at 13,875, followed by active short-covering in the leading base shares... Textile exports decline 25pc ISLAMABAD, Jan 18: Pakistan’s textile and clothing exports declined by 25 per cent in December 2007 over the same month last year, said the statistic division on Friday.... SBP advice KARACHI, Jan 18: The State Bank of Pakistan has reminded the banks of its earlier instructions to ensure retirement of loans granted by them for procurement of wheat during 2007, latest by Jan 31.... Wheat growers opting to sunflower cultivation MULTAN, Jan 18: Farmers in major wheat growing districts of southern Punjab Multan, Rahim Yar Khan and Khanewal – are giving priority to cultivate sunflower this year owing to below expectation... SPI up by 14.46pc ISLAMABAD, Jan 18: The weekly inflation, measured through the Sensitive Price Index (SPI), increased by 14.46 per cent during the week ending Jan 17, over the corresponding period last year, according... European stocks falter LONDON, Jan 18: European stock markets closed lower on Friday in very volatile trade as investors hoped for the best from a White House stimulus package aimed at keeping the US economy out of recession.... Bush urges $140 billion stimulus plan for economy WASHINGTON, Jan 18: US President George W. Bush called on Friday for Congress to act quickly on a stimulus plan worth around $140 billion to revive an economy that some fear is on the brink of recession.... Increased atta supplies ease rush at stores KARACHI, Jan 18: The introduction of government-sponsored Rs175 per 10-kg bag at the flour mills and improved supplies in the open market have led to easing buyers’ rush at the utility... Inflation in India jumps to highest in 4 months NEW DELHI, Jan 18: India’s annual inflation hit its highest level in four months on Friday as the country braced for increased fuel prices, diminishing chances of any early interest rate cut, economists said.... Oil prices rally LONDON, Jan 18: Oil prices rose on Friday at the end of a week in which they have slumped further from recent record highs of above $100 amid concerns about a possible drop in energy demand, dealers said.... Dollar gains against euro LONDON, Jan 18: The dollar firmed against the euro on Friday after US President George W. Bush announced a stimulus plan aimed at reviving the US economy and on news of an unexpected improvement in US consumer sentiment.... Bulgaria, Russia sign gas pipeline deal SOFIA, Jan 18: Bulgaria and Russia signed a deal on Friday to build the 10 billion euros ($14.7bn) South Stream pipeline to carry Russian gas to Europe, giving Moscow an even greater say on European energy supplies.... Spain sees lowest rise in property prices MADRID, Jan 18: Spain’s embattled real estate sector received more bad news on Friday as the government announced that property price-rises last year were the lowest since a boom in the market began 10 years ago.... Award KARACHI, Jan 18: Unilever President for Asia, Africa and Middle East, Harish Manwani has been awarded the coveted Asia Business Leader of the Year award at the sixth Annual CNBC Asia Business Leaders Awards ceremony held at Seoul, South Korea.... India to meet wheat Output target NEW DELHI, Jan 18: India, the world’s second largest wheat producer, expects to meet the production target of 75.5 million tons this season and has no immediate plans for any more imports, a minister said on Friday.... Karachi Port operations KARACH, Jan 18: Seven ships, carrying chemicals, containers and to load molasses and clinkers, are due to arrive at the outer anchorage on Saturday, according to KPT sources.Berthing... Port Qasim KARACHI, Jan 18: Six ships, carrying containers, cement, edible oil, wheat, crude oil and chemicals, berthed at the Qasim International Containers Terminal, Multipurpose Terminal, Fotco Oil Terminal, Engro Pak Terminal, respectively, on Thursday.... Weekend cotton session closes on quieter note KARACHI, Jan 18: Cotton market on Friday closed the weekend session on relatively quieter note as both buyers and sellers kept to the sidelines ahead of release of arrival figures by the Pakistan Cotton Ginners Association (PCGA) later in the evening.... Doubts on EU’s biofuel strategy BRUSSELS, Jan 18: An internal European Commission study, criticises an EU plan to boost the use of biofuels in transport, concluding that their costs outweigh the benefits.... Karachi market rates KARACHI, Jan 18: The following were Friday’s commodity market rates in rupees.... Company news RABAT: Renault-Nissan signed an accord on Friday with the Moroccan government for what it says will be one of its largest automobile-making operations in the world, set to be constructed near Tangiers.... Asian stock markets mixed HONG KONG, Jan 18: Asian shares closed mixed Friday after recovering from panic selling triggered by US economic woe as investors pinned their hopes on urgent moves to avoid recession in the world’s largest economy.... British retail sales sink LONDON, Jan 18: Retail sales in Britain dipped in December from the previous month, falling in the crucial run-up to Christmas, according to official data published on Friday.... Palm oil prices fall KUALA LUMPUR, Jan 18: Malaysian crude palm oil futures fell 1.3 per cent on Friday, erasing gains made the previous day as crude and soyoil markets declined on US economic woes.But...

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