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February 02, 2008 Saturday Muharram 23, 1429 Real estate investment trust rules notified ISLAMABAD, Feb 1: The Securities and Exchange Commission of Pakistan (SECP) on Friday notified the Real Estate Investment Trust (REIT) Regulations 2008.... ‘Thermal power deals to raise production cost’ ISLAMABAD, Feb 1: The government has been warned that the country’s power generation capacity that is heavily tilting towards expensive thermal generation compared with hydel resources....   Stocks undergo modest pruning KARACHI, Feb 1: Stocks on Friday came in for modest pruning on selling triggered by an increase of 50 basis points in the discount rate to 10.50... UNBL gets acting CEO amid scam rumours KARACHI, Feb 1: Mr Ehsan Mani has been appointed acting chief executive officer of United National Bank Limited (UNBL), a UK-based joint subsidiary of National Bank of Pakistan and United Bank... Microsoft offers $44.6bn for Yahoo SAN FRANCISCO, Feb 1: Microsoft on Friday unveiled a bid of $44.6 billion for Yahoo in an effort to merge the world’s biggest software company with a major Internet player to take on the Google juggernaut.... Three Kohat textile mills without power, gas KARACHI, Feb 1: Following the blow-up of 132kV electricity towers by the extremists a few days ago and the stoppage of gas supplies by the gas distribution company, production at three... Car prices increased despite low demand KARACHI, Feb 1: Two leading Japanese car makers have increased prices of various models by Rs5,000 to Rs20,000, respectively, citing reason of rupee depreciation against the yen, which they claim has pushed up cost of imported kits.... Seafood exporters put off strike KARACHI, Feb 1: The Pakistan Seafood Industries Association has postponed its strike called for February 4 on the assurance of high federal government officials that the problems being faced by the fishing industry would be resolved shortly.... Furniture from China for new FBR buildings ISLAMABAD, Feb 1: Although Pakistan itself is a major exporter of good-quality furniture, the Federal Board of Revenue has decided to import furniture for new tax buildings from China under a World Bank-funded project.... Opec snubs US plea for extra oil VIENNA, Feb 1: Oil cartel Opec maintained its output ceiling here on Friday, adopting a wait-and-see approach amid fears of a global economic slowdown that would dampen energy demand and further cool crude prices.... Pakistan assumes chairmanship of G-77 ISLAMABAD, Feb 1: Pakistan has assumed the chairmanship of the Group of 77 and China, Vienna Chapter for 2008, with Ambassador Shahbaz accepting the instrument of office from Sudan in Vienna, Foreign Office said here on Friday.... Automation of sale deeds begins in Sindh KARACHI, Feb 1: The Board of Revenue, Sindh, has computerised registration of property sale deeds and payment of stamp duty to ensure transparency in transactions.... Cotton prices ease on hasty selling KARACHI, Feb 1: Cotton prices on Friday fell by Rs50 per maund from the recent highs as a section of ginners sold in haste to clear their backlog, but mill demand did not show any improvement.... Boosting trade with Kabul QUETTA, Feb 1: The Balochistan Chamber of Commerce and Industry (BCCI) and Afghanistan’s consul general in Quetta have called for incentives for the business community, which would further cement trade relations between the two countries.... US economy suffers job losses WASHINGTON, Feb 1: The US economy suffered 17,000 job losses in January marking the first monthly losses since 2003, a government snapshot showed on Friday in a fresh sign of brewing economic trouble.... Dollar little changed LONDON, Feb 1: The dollar was little changed on Friday but off near record lows against the euro as players looked more closely at the latest US employment report after headline job losses spooked the market, dealers said.... KPT resents surcharge KARACHI, Feb 1: The Karachi Port Trust has resented the imposition of $100 surcharge on imports by shipping lines saying that there are no valid reasons for the action.... Company news KARACHI, Feb 1: Microsoft and Emirates will set up an innovation lab in Dubai to develop new products and services for the travel industry using Microsoft’s cutting edge technology and tapping... Karachi Port operations KARACHI, Feb 1: Seven ships carrying, containers, steel and to load molasses are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Feb 1: Four ships with containers, general cargo, wheat and LPG were accommodated berths during the last 24 hours, said a PQA press release on Friday.... 500 foreign buyers to attend Expo KARACHI, Feb 1: Over 500 leading foreign buyers are expected to attend the mega national event of Expo Pakistan being held from March 13 to 16 at Karachi Expo Centre.... Steel deal postponed SOFIA, Feb 1: The Indian owner of Bulgaria’s largest steelmaker Kremikovtzi said on Friday he would postpone its sale for at least two months, awaiting advice from a financial adviser about the best strategy for the loss-making plant.... Asian shares close mostly higher HONG KONG, Feb 1: Asian shares closed mostly higher on Friday as the markets in Australia and India rose more than three per cent, but the ailing American economy still overshadowed trading after sharp US interest rate cuts.... Global gold demand slumps LONDON, Feb 1: Record gold prices have scared buyers in many parts of the world and left them to watch helplessly the blistering rally that shows no signs of abating.... Palm oil prices fall JAKARTA, Feb 1: Indonesian palm oil prices fell on Friday as the government announced new measures aimed at containing spiralling food prices.... Karachi market rates KARACHI, Feb 1: The following were Friday’s commodity market rates in rupees....

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