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February 03, 2008 Sunday Muharram 24, 1429 Competitive bidding for tariff proposed: Coal-based power projects KARACHI, Feb 2: A committee of several top bureaucrats and caretaker ministers, constituted by Caretaker Prime Minister Mohammedmian Soomro on Wednesday, with minister for petroleum and natural resources as its head,... Minister opposes import surcharge KARACHI, Feb 2: Caretaker Minister for Ports and Shipping Dr Fahim Ansari has said that there is no congestion at the Karachi Port and Port Qasim....   Weekly inflation surges by 12.47pc ISLAMABAD, Feb 2: The weekly inflation measured through the Sensitive Price Index (SPI) increased by 12.47 per cent during the week ending Jan 31 over the corresponding week last year, according... Flour, ghee, oil and milk prices go up KARACHI, Feb 2: Consumers paid higher prices to buy flour, branded ghee and cooking oil, fresh milk, rice, masur and arhar in the last one month, while there was a decline in the prices of onion, potato, tomato and sugar.... Export of textile, clothing items falls KARACHI, Feb 2: Export of major textile and clothing items has gone down drastically despite 3.67 per cent increase in overall exports during the first six months July-Dec of the current fiscal.... Garment exporters for widening of R&D scope KARACHI, Feb 2: Readymade garments manufacturers have drawn the attention of the government towards a major flaw in policy wherein the Research and Development (R&D) support is paid on the export... Imported garments, shoe prices surge KARACHI, Feb 2: Children garments and shoes from China and Thailand have become costlier by 20 per cent in the local market as the Customs is demanding duty on higher valuation per kilogram and not per dozen.... FPCCI signs pact with Yemen KARACHI, Feb 2: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has signed a cooperation agreement with Federation of Yemen Chambers of Commerce and Industry.... Food safety council TOKYO, Feb 2: Japan plans to call on Beijing to jointly set up a food safety council following a massive recall of Chinese-made food after hundreds of Japanese said they fell ill from dumplings, a report said on Saturday.... Opec to cut output if economic slowdown persists RIYADH, Feb 2: The die was cast even before Opec had met in Vienna on Friday. Reports from all around were not at all conducive for the oil cartel to open... Investment under CFS rises KARACHI, Feb 2: The investment under the Continuous Funding System (CFS) on the Karachi Stock Exchange last week showed a modest rise of two per cent to hit Rs52bn level after having fallen below the Rs50bn-level during the recent past.... Bank holiday KARACHI, Feb 2: The State Bank of Pakistan and all offices of SBP Banking Services Corporation, inclusive of Public Debt Offices, will remain closed for public dealing on February 5, 2008... Conversion rates KARACHI: The following are February 4 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds.... Quieter conditions on cotton market KARACHI, Feb 2: Cotton market finished the weekend session on a cheerless note as spinners kept to sidelines throughout the session and did not bid for fresh supplies despite the fact... Unisame seeks tax relief KARACHI, Feb 2: The Union of Small and Medium Enterprises (Unisame) has drawn the attention of caretaker finance minister Dr Salman Shah, and other officials, towards economic difficulties being faced by the country.... Harvard study to help transform economy RAWALPINDI, Feb 2: The Centre for International Development (CID) at the Harvard University will carry out a study to help Pakistan design a plan for structural transformation of the country’s economy and to maintain its current rate of growth.... Karachi Port operations KARACHI, Feb 2: Four ships carrying general cargo and containers are expected to arrive at the outer anchorage on Sunday, according to KPT sources.... Port Qasim KARACHI, Feb 2: Five ships carrying containers, rice, crude oil and coal were accommodated berths during the last 24 hours, said a PQA press release on Saturday.... Hyundai opens 2nd plant SRIPERUMBUDUR, India, Feb 2: South Korean car giant Hyundai Motor Co opened a second plant in India on Saturday, making the country its biggest foreign manufacturing site.... IBP workshop KARACHI, Feb 2: The Institute of Bankers Pakistan (IBP), in collaboration with RKaz Technology Partners of Malaysia, is holding a workshop on “Business Continuity Management Fundamentals” on Monday.... Gold, platinum hammer record highs amid US economic woes LONDON, Feb 2: Gold and platinum soared to record peaks this week as the world’s commodity markets were rocked again by US economic woes, traders said.... Dollar up against yen NEW YORK, Feb 2: The dollar weathered a worsening jobs picture in the US on Friday despite increasing fears the economy could fall into a recession.... Iran discovers new gas field TEHRAN, Feb 2: Iran has discovered a gas field in the Gulf with estimated reserves of some 11 trillion cubic feet, Oil Minister Gholam Hossein Nozari said on Saturday.... US rice hits record high CHICAGO, Feb 2: US rough rice futures on the Chicago Board of Trade ended higher on Friday, rising to an all-time high on follow-through technical strength from Thursday, traders said....

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