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January 24, 2008 Thursday Muharram 14, 1429 Investors concerned more about politics than recession KARACHI, Feb 23: As the fears of recession in the US sparks panic-selling in global equities with biggest rout in neighbouring China and India, many market gurus in the country are... Industry, trade claim Rs6 billion losses: Post-Benazir murder unrest KARACHI, Jan 23: As many as 92 organisations from small traders to big industrial units have reported losses of Rs6 billion during the four days of unrest following the assassination of PPP chairperson Benazir Bhutto....   Taxation treaty with Japan signed ISLAMABAD, Jan 23: Pakistan and Japan have signed a new treaty for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income to promote mutual investment.... Stocks manage 28-point rise in mixed trading KARACHI, Jan 23: The share market on Wednesday turned mixed as early smart rally could not be extended in the absence of follow-up support although the KSE 100-share index managed to... India admits NTBs hurt trade KARACHI, Jan 23: Indian Minister of State for Commerce Jai Ram Ramesh has admitted that non-tariff barriers (NTBs) imposed by New Delhi were not allowing trade between Saarc countries to flourish.... CFS Mark-II likely to be effective in one month ISLAMABAD, Jan 23: The Continuous Funding System (CFS) Mark-II is ready to be implemented in the next three to four weeks, while President Musharraf is likely to sign the ordinance on the demutualisation of stock exchanges within 10 days.... 0.5m lint bales import via Wagah allowed ISLAMABAD, Jan 23: The commerce ministry has allowed import of 0.5 million bales of short staple cotton from India to meet the growing local demand of the textile and clothing sector.... July-Dec foreign investment 31pc down KARACHI, Jan 23: Foreign investment fell sharply by 31 per cent in the first half of the current fiscal year, mainly because of much lower inflows of portfolio investment.... Credit to agriculture sector up by 26pc KARACHI, Jan 23: Credit to agriculture sector increased 26 per cent in the first half of the current fiscal and most of it was distributed by five major commercial banks.... European, US stocks tumble NEW YORK, Jan 23: The US and European stocks slid on Wednesday, hammered by persistent worries about a US recession, one day after the Federal Reserve’s surprise interest rate cut boosted global markets.... Pakistan at 92nd position in GCI DAVOS, Jan 23: Pakistan occupies 92nd position among 131 countries in the global competitiveness index (GCI) while India ranked 48th.... Dullness prevails on cotton market KARACHI, Jan 23: Cotton market on Wednesday lacked normal trading interest as both buyers and sellers kept to the sidelines apparently awaiting some positive developments on the international cotton front.... Hosiery makers concerned over rising yarn prices KARACHI, Jan 23: High cotton yarn prices have severely damaged the viability of textile apparel industry which has already been fighting a war of its survival owing to high cost of production and utilities’ charges.... Recession fears grip Davos moot DAVOS, Jan 23: Recession fears gripped the annual gathering of the global business elite in Davos on Wednesday, with heavy criticism of action by the Federal Reserve to ward off a US contraction.... Karachi Port operations KARACHI, Jan 23: Five ships carrying containers and rock phosphate are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Jan 23: Three ships carrying containers, edible oil and gas oil were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Oil prices dive LONDON, Jan 23: World oil prices tumbled on Wednesday as a dramatic US interest rate cut failed to dispel concerns about a recession in key energy consumer, the United States, traders said.... Dollar mixed LONDON, Jan 23: The dollar was mixed in very choppy trade on Wednesday as the market tried to come to terms with the radical US interest rate cut of the previous day, dealers said.... KCCI plea KARACHI, Jan 23: The Karachi Chamber of Commerce and Industry (KCCI) has urged the Federal Board of Revenue (FBR) to withdraw powers of intelligence and investigation officials under SRO 48, which... PQATI units KARACHI, Jan 23: Port Qasim Authority chairman Rear Admiral Syed Afzal has said that 179 industrial units are being constructed in the PQA area and the genuine investors are invited to establish new units within the allowed period.... Company news KARACHI, Jan 23: Zia Ul Islam Zuberi, Director Corporate Communication Siemens Pakistan, will attend the council meeting of the International Public Relations Association (IPRA) and will take part in the inauguration... Asian shares higher HONG KONG, Jan 23: Asian shares closed mostly up on Wednesday after the US Federal Reserve unexpectedly slashed interest rates to shore up rocky investor confidence, with the Hong Kong market soaring over 10 per cent.... Several British trade missions expected KARACHI, Jan 23: The British Deputy High Commissioner in Karachi, Hamish Clair Daniel, informed businessmen that several trade missions from his country were expected to visit Pakistan after the end of existing uncertainty and improvement in the environment....

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