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February 05, 2008 Tuesday Muharram 26, 1429 Platinum hits record high, gold down LONDON, Feb 4: Platinum roared to a record high and palladium hit a six-year peak on Monday as supply concerns persisted in top producer South Africa, facing an electricity crisis, analysts said.... Chicken prices fall after bird flu scare KARACHI, Feb 4: The sale of live poultry bird has declined sharply by 50 to 60 per cent owing to bird flu scare, and on Monday poultry stakeholders made a sharp cut in prices....   FBR reforms may be completed by 2009: Yousuf ISLAMABAD, Feb 4: The government has allowed double salary to 16,500 out of 25,000 employees of the Federal Board of Revenue (FBR) as part of the tax machinery reforms expected to be completed by 2009.... Setting up of new asset management firm allowed ISLAMABAD, Feb 4: The governments of Pakistan and Saudi Arabia have allowed the Saudi-Pak Industrial and Agricultural Investment Company to set up its separate “Asset Management Company” to also mobilise funds from the Kingdom.... Globe Textile to cash in on land price to pay debts KARACHI, Feb 4: Globe Textile Mills Limited -- a stock market listed spinning mill -- which finds itself deep in deficit has decided to cash in on the price of land in Karachi, while the going is still good.... Euro climbs against dollar LONDON, Feb 4: The euro gained ground on the dollar here Monday as traders predicted the European Central Bank would maintain its key interest rates at current levels at a meeting on Thursday.... Rs1.3bn for export facilitation approved ISLAMABAD, Feb 4: The board of administrators of Export Development Fund (EDF) on Monday approved an amount of Rs1.3 billion for implementation of various proposals relating to promotion of exports in various sectors.... Chinese food screening TOKYO, Feb 4: Japan on Monday pledged to step up screening of food imports and sent experts to China to probe a scare over dumplings made in China that left hundreds of Japanese complaining of illness.... Markets closed KARACHI, Feb 4: All local principal markets, including Karachi Stock Exchange, Karachi Cotton Exchange and other commodity markets, will remain closed on Tuesday (Feb 5) on account of the Kashmir Day.... NBP denies French connection KARACHI, Feb 4: The National Bank of Pakistan (NBP) has terminated its officers allegedly involved in money laundering in France and it has received a clean chit from the Central Bank of France.... Record $3.1 trillion US budget proposed WASHINGTON, Feb 4: US President George W. Bush proposed on Monday a record 3.1-trillion-dollar budget for fiscal 2009 that widens the government deficit with an economic stimulus and expenditures for the war in Iraq.... Oil climbs toward $91, fog slows US imports LONDON, Feb 4: Oil rebounded sharply toward $91 a barrel on Monday as dense sea fog slowed crude imports into the Houston Ship Channel, the waterway to the busiest US petrochemical port.... Stock market resumes trading on higher note KARACHI, Feb 4: Trading on the stock market on Monday resumed on a higher note, followed by active early short-covering on selected counters, but late profit-selling at the higher levels allowed it to close with clipped gains.... Conversion rates KARACHI: The following are February 6 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds.... Karachi Port operations KARACHI, Feb 4: Seven ships, carrying chemicals, coal and vehicles, are expected to arrive at the outer anchorage on Tuesday, KPT sources said on Monday.... Port Qasim KARACHI, Feb 4: A wheat ship was berthed at multipurpose terminal on Sunday. Three vessels sailed out during the last 24 hours. One more ship carrying containers also arrived at outer anchorage of the port during the same period.... Steady trading on cotton market KARACHI, Feb 4: Trading resumed on a quietly steady note on the cotton market on Monday as spinners remained busy assessing the impact of latest arrival figures on the future price outlook.... EU to boost ties with energy-rich Azerbaijan BAKU, Feb 4: The European Union wants to boost ties with energy-rich Azerbaijan and supports plans to ship gas from Central Asia across the Caspian Sea for delivery to Europe, senior EU officials said Monday.... Poultry rates KARACHI, Feb 4: The following are Tuesday’s poultry market rates:... UAE may revalue its currency DUBAI, Feb 4: The United Arab Emirates is likely to revalue its currency against the flagging dollar in a bid to bring down inflation and meet criteria for a single Gulf currency, an industry report said on Monday.... IMF warns India over capital controls WASHINGTON, Feb 4: The IMF warned rapidly growing India Monday against using capital controls to curb swelling financial investment inflows.... World stocks lifted by Wall Street rally LONDON, Feb 4: Asian and European stock markets rose on Monday, supported by a pre-weekend rally for Wall Street on hopes that the US economy may avoid a recession after US interest rates were slashed.... Asian shares close sharply higher HONG KONG, Feb 4: Asian stocks posted strong gains on Monday in the wake of a Wall Street rally, with Shanghai surging more than eight per cent, providing investors with some much-needed cheer after a dire start to 2008.... Malaysian palm oil up KUALA LUMPUR, Feb 4: Malaysian crude palm oil futures jumped 3.7 per cent on Monday to stand just a whisker from all-time highs following the rival US soyaoil market’s rally to record peaks last week....

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