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February 10, 2008 Sunday Safar 02, 1429 Trade deficit swells to $2.053 billion ISLAMABAD, Feb 9: Pakistan’s trade deficit increased by 77.84 per cent in January and swelled to $2.053 billion against $1.154 billion last year, mainly due to surging crude oil prices.... SECP auditors plan irks ICAP members KARACHI, Feb 9: The proposal of Securities and Exchange Commission of Pakistan (SECP) to develop a panel of auditors out of members of Institute of Chartered Accountants of Pakistan (ICAP) for...   India in no rush to import wheat BANGALORE, Feb 9: India will not need to import wheat in the next three months as the new crop harvest nears, but New Delhi will keep its options open, a senior government official said on Saturday.... G7 sees growing risks to world economy TOKYO, Feb 9: Top world finance ministers warned on Saturday that the global economy faces growing threats from a US housing slump and credit crunch and said they were ready to take remedial action if needed.... Inflation jumps to 12.04pc ISLAMABAD, Feb 9: The weekly inflation measured through the Sensitive Price Index (SPI) increased by 12.04 per cent during the week ending on February 8 over the corresponding period last year,... Investment activity declines sharply: Pre-election uncertainty KARACHI, Feb 9: Banking activity has dropped sharply as up to 40 per cent accounts remain idle reflecting the unfriendly investment environment.... Yahoo to reject Microsoft bid WASHINGTON, Feb 9: Yahoo’s board has decided to reject Microsoft’s unsolicited 44.6 billion dollar bid to take over the Internet giant, the Wall Street Journal reported Saturday, citing “a person familiar with the situation.”... Sindh NIP internees not paid stipends KARACHI, Feb 9: The Sindh province has received 5th batch of 200 internees under the National Internship Programme (NIP) this week, while about 4,468 internees, who are already placed in various... Stringent laws urged to check IPR violations KARACHI, Feb 9: The Intellectual Property Enforcement Coordination Committee has stressed the need for creating awareness among importers, wholesalers and retailers about the disadvantages of trade in counterfeit and pirated products.... Next BoJ chief TOKYO, Feb 9: The Japanese government is planning to nominate Bank of Japan deputy governor Toshiro Muto as the next head of the central bank, the Yomiuri Shimbun daily said on Saturday.... Efficient household appliances to mitigate energy crisis RAWALPINDI, Feb 9: The federal government has entrusted Engineering Development Board (EDB) the task of adopting strategies in collaboration with relevant private sector industries to enhance the efficiencies of different energy consuming household products being produced in the country.... Karachi Port operations KARACHI, Feb 9: Nine ships carrying containers, imported wheat and to load ethanol and naphtha are due to arrive at the outer anchorage on Sunday, according to KPT sources.... Port Qasim KARACHI, Feb 9: Three ships carrying containers, chemicals and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Saturday.... Dullness prevails on cotton market KARACHI, Feb 9: Quieter conditions were again witnessed on the cotton market on Saturday as both the sellers and the buyers kept to the sidelines.... China given nod on yuan de-pegging TOKYO, Feb 9: Group of Seven finance ministers and central bankers gave China a slight nod on its efforts to unshackle the yuan and allow more appreciation, even as European officials kept up their pressure on Beijing for more action.... French ban on US strain of GM corn PARIS, Feb 9: France officially imposed on Saturday a ban on a strain of genetically modified (GM) corn produced by the US agribusiness giant Monsanto, with the publication of an agriculture ministry order in the state’s official journal.... SocGen employee released PARIS, Feb 9: A Societe Generale bank employee was released without charge on Saturday after two days of questioning about the case of jailed trader Jerome Kerviel.... Wall Street tumbles NEW YORK, Feb 9: US stock markets tumbled heavily in the week to Friday, giving Wall Street a fresh battering, despite Congress granting a green light to a giant economic stimulus package sought by the White House.... Platinum, wheat prices strike record peaks LONDON, Feb 9: This week, precious metal platinum forged yet another record high on the back of flagging output from leading producer South Africa.... Stimulus may have short-term impact on US economy WASHINGTON, Feb 9: A $150bn economic stimulus plan approved by the US Congress will give a shot in the arm to a lagging US economy, possibly mitigating the current downturn, analysts say.... Abu Dhabi gold sales recovering ABU DHBAI, Feb 9: Abu Dhabi’s gold sales, hit by last year’s record prices, are slowly recovering as buyers adjust to current high prices, the Gulf emirate’s Gold and Jewellery Group chairman said on Saturday.... Karachi market rates KARACHI, Feb 9: The following were Saturday’s commodity market rates in rupees.... Dollar drifts lower NEW YORK, Feb 9: The dollar eased slightly against other major currencies on Friday as markets braced for a weekend meeting of top finance officials from major industrialized nations....

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