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January 31, 2008 Thursday Muharram 21, 1429 Power cuts Cripple commercial activities: Sales drop to 30pc KARACHI, Jan 30: While more than 70 per cent of the markets and shopping centres in the city plunge into darkness after 5:00pm, industrial areas like Korangi and North Karachi too suffer from power breakdowns.... IMF urges govts to consider fiscal boost LONDON, Jan 30: Governments seeking to offset the global economic slowdown should look at targeted budgetary measures to boost demand and not rely solely on interest rate cuts, the head of the International Monetary Fund said on Wednesday....   Oil prices ease as US stocks climb LONDON, Jan 30: World oil prices slipped back under $92 per barrel on Wednesday following news that US crude stockpiles rose for a third successive week.... Dollar dips ahead of Fed decision LONDON, Jan 30: The dollar lost ground against the euro on Wednesday ahead of a key US Federal Reserve meeting which is expected to deliver another substantial interest rate cut, dealers said.... Stocks fail to sustain overnight rally KARACHI, Jan 30: The share market on Wednesday failed to extend the overnight run-up on profit selling in some of the high-profile issues under the lead of PSO, Arif Habib Securities and some others apparently ahead of new monetary policy.... Rising coal price hits Asian industries SYDNEY, Jan 30: Floods in Australia, freezing weather in China and transport bottlenecks in Indonesia have helped stoke a sharp rise in the price of coal, putting pressure on Asian consumer industries.... 2.5pc fall in customs duty collection KARACHI, Jan 30: Revenue collection through customs duty fell by 2.5 per cent at Rs45.357 billion during the first six months (July-December) of current fiscal compared to Rs46.520... Women’s chamber to attend Saarc conference KARACHI, Jan 30: A delegation of local women entrepreneurs exporting their products to India and other member countries of the South Asian Association for Regional Cooperation would be attending a three-day... US economic growth gets slow in 4th quarter WASHINGTON, Jan 30: Growth in the world’s biggest economy slowed to a 0.6 per cent annual pace in the fourth quarter of 2007 amid a worsening housing slump and a related credit squeeze, the government said on Wednesday.... Pakistani firms figure in DS100 ranking RIYADH, Jan 30: The Pakistan State Oil (PSO) and Sui Northern Gas Pipelines Limited (SNGPL) have figured at the 31st and 99th positions in the fourth annual DS100 ranking, benchmarking the corporate environment within the 57-member OIC.... State Bank fails to sell treasury bills KARACHI, Jan 30: The State Bank of Pakistan received bids of Rs5 billion only for treasury bills on Wednesday against a target of Rs65 billion.... Britain Mulling banking reforms LONDON, Jan 30: British finance minister Alistair Darling on Wednesday outlined proposals for a radical reform of banking regulations to prevent another Northern Rock-style crisis.... Lint prices ease on hasty selling KARACHI, Jan 30: Cotton prices on Wednesday eased from the current higher levels as some of the ginners cleared the backlog of unsold stocks after having lost hopes of widely speculated flare-up.... Karachi Port operations KARACHI, Jan 30: Seven ships carrying palm, DAP fertiliser and to load cement are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Jan 30: Normal shipping activity was observed at the port where two ships to load, unload containers, and edible oil were accommodated on berths at QICT and MPT terminal during the last 24 hours.... France vows to protect SocGen PARIS, Jan 30: France has vowed to defend its flagship bank Societe Generale from any hostile takeover, but analysts warned on Wednesday the state has limited power to protect the troubled giant from market predators.... Company news PARIS, Jan 30: Societe Generale chairman Daniel Bouton will stay at the helm of the scandal-marred bank, a bank official said on Wednesday.... IT internship ISLAMABAD, Jan 30: The Pakistan Software Export Board (PSEB) on Wednesday launched the third phase of its internship programme to provide internships to another 6,600 fresh IT graduates.... Asian stocks falter on economic slowdown HONG KONG, Jan 30: Asian shares closed mostly down on Wednesday with investors seemingly worried that an expected US interest rate cut may fail to boost stock prices in the face of a global economic slowdown.... Malaysian palm oil up KUALA LUMPUR, Jan 30: Malaysian crude palm oil futures ended 0.8 per cent higher on Wednesday, underpinned by gains in crude oil markets but fresh fears of slowing demand and a surge in palm oil reserves kept a lid on prices.... European stocks fall LONDON, Jan 30: Europe’s main stock exchanges retreated on Wednesday, as investors digested more negative subprime news ahead of a vital interest rate decision from the US Federal Reserve, dealers said....

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