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January 26, 2008 Saturday Muharram 16, 1429 Gold price hits record peak of Rs18,170 KARACHI, Jan 25: Gold price hit a record peak of Rs18,170 per 10 grams on Friday pushing up the one tola gold rate to Rs21,200 following continued upsurge in yellow metal in world markets.... Heads of depts blamed for incomplete projects KARACHI, Jan 25: After an investment of more than Rs174 billion in the development of Sindh by the provincial and federal governments in the last five years, an official document of...   PM vows to continue economicreforms ISLAMABAD, Jan 25: Caretaker Prime Minister Mohammedmian Soomro has reiterated government’s resolve to continue with the economic reforms agenda to attract investment in various sectors.... Oil prices shoot above $90 LONDON, Jan 25: The price of oil jumped back above $90 on Friday, helped by a recovery in global stock markets on the back of plans for a stimulus package to prevent the US economy falling into recession, traders said.... Development failures echoed at Davos DAVOS, Jan 25: The annual Davos gathering of corporate wealth and political power turned its lofty gaze on the world’s poor on Friday, with delegates chided over failures to deliver on development goals.... Apparel industry seeks urgent govt support KARACHI, Jan 25: The crisis-ridden textile apparel industry seeks urgent government support in order to keep it afloat amid reports that a large number of small- and medium-size units have closed... Rafi elected ISE chief ISLAMABAD, Jan 25: Rafiud Deen Ahmad has become the third non-member chairman of the Islamabad Stock Exchange (ISE).... Current account gap widens by 31.1pc KARACHI, Jan 25: The current account deficit sharply widened by 31.1 per cent during the first half (July-Dec) of 2007-08 threatening the country’s ability to meet rising payments for import of goods and services crucial to achieve 6.5... OGDCL makes small oil, gas discovery KARACHI, Jan 25: The Oil and Gas Development Company Ltd (OGDCL) announced on Friday a small oil and gas discovery in Sindh.... Stocks stage comeback on market fundamentals KARACHI, Jan 25: Stocks on Friday were back on the rails and finished partially recovered followed by active short-covering at the lower levels by all and sundry amid an actively traded session.... Electricity crisis halts gold output in S. Africa CAPE TOWN, Jan 25: The price of gold hit a record high on Friday as production ground to a halt in South Africa on the back of a spiralling electricity crisis the government has labelled a national emergency.... MoU signed for export financing KARACHI, Jan 25: The Standard Chartered Bank (Pakistan) and DF Deutsche Forfait AG have signed a memorandum of understanding (MoU) to launch a first of its kind export finance facility in Pakistan.... Brisk trading on cotton market KARACHI, Jan 25: Active trading was witnessed on the cotton market on Friday as spinners lifted all the lots offered by ginners for sale at a bit lower rate.... Karachi Port operations KARACHI, Jan 25: Three ships carrying containers, general cargo and to load ethanol are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Jan 25: Three ships carrying containers and wheat were accommodated berths during the last 24 hours, said a PQA press release on Friday.... Sindh excise dept collects Rs4.41bn KARACHI, Jan 25: The Sindh Excise and Taxation department has collected Rs4.41 billion in taxes and duties during the first half of the current fiscal year.... Dollar firmer LONDON, Jan 25: The dollar was firmer in European trade on Friday, continuing to find support from the quick accord on an economic stimulus plan between the White House and Congress and a rebound in the equity markets.... Inflation BEIJING, Jan 25: China will keep up efforts to ease spiralling inflation in 2008 after recently imposing strict price controls on a range of energy products, foods and other key commodities, state media said on Friday.... Saudia may be privatised within two years RIYADH, Jan 25: Saudi Arabian Airlines (Saudia), the national carrier, could be privatised within the next two years. Announcing this, Khaled Almulhim, the director general of Saudi Arabian Airlines, said: We... Germany backs ECB decision on rates FRANKFURT, Jan 25: The European Central Bank (ECB) was right to keep interest rates unchanged despite a sharp cut by the US Federal Reserve, German Economy Minister Michael Glos said on Friday.... French deficit BRUSSELS, Jan 25: The European Commission will next week call on France to “considerably accelerate” efforts to reduce its public deficit, according to a report obtained by AFP.... Company News KARACHI, Jan 25: Telenor Pakistan has launched another environmentally-friendly initiative by using solar energy to power one of its repeater sites in the NWFP. The company is the country’s first cellular... European, US stocks falter LONDON, Jan 25: A global stock market rebound that began in Asia on Friday later ran out of steam in Europe and the United States on fresh concerns about the health of the global financial sector.... Asian stocks up despite US recession fears HONG KONG, Jan 25: Asian shares closed up on Friday as they continued to recover ground following an earlier plunge, shrugging off US recession fears and a shocking fraud at French bank Societe Generale.... Palm oil prices higher KUALA LUMPUR, Jan 25: Malaysian crude palm oil futures ended 1.4 per cent higher on Friday as investors took up positions after rallies in crude and soyaoil markets while ignoring dismal export estimates by cargo surveyors....

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