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February 15, 2008 Friday Safar 07, 1429 New system to end bogus motor insurance ISLAMABAD, Feb 14: The Securities and Exchange Commission of Pakistan (SECP) has decided to eliminate issuance of bogus third-party motor-vehicle insurance certificates by unauthorised persons and entities.The... Tea, ghee, cooking oil prices raised KARACHI, Feb 14: The consumers have received a pre-election setback as leading producers of ghee, cooking oil and branded tea pushed up rates on Thursday....   Consortium to disburse Rs15bn to PSO: Price differential claim KARACHI, Feb 14: Consortium of six banks would begin disbursement of Rs15 billion to Pakistan State Oil (PSO), raised by them for paying price differential claim (PDC) to the company, following... Profits of two large banks fall sharply KARACHI, Feb 14: After three years of booming record profits, two large privatised banks’ profits fell sharply for the year 2007.... SECP to set up capital markets institute ISLAMABAD, Feb 14: The Securities & Exchange Commission of Pakistan (SECP) on Thursday announced its initiative for setting up a capital markets institute — the Pakistan Institute of Capital Markets (PICM).... Gas restored to 1,250 units LAHORE, Feb 14: With weather easing a little bit, the Sui Northern Gas Pipelines Limited on Thursday restored supply to 1,250 industrial units and ordered restoration to another 100 units.... Hike in toys valuation rates slated KARACHI, Feb 14: Importers of plastic toys have criticised the customs for suddenly enhancing valuation rates for determining customs duty on all categories of toys.... Withholding tax likely on vehicles ISLAMABAD, Feb 14: The government is considering certain tax adjustments to overcome revenue shortfall estimated to have occurred owing to law and order situation following the assassination of Benazir Bhutto in December.... CFS Mk-II to go live on April 7 ISLAMABAD, Feb 14: The revised version of the Continuous Funding System, the CFS Mk-II, will go live on April 7, said the Securities and Exchange Commission of Pakistan (SECP) here on Thursday.The... Bank holiday KARACHI, FEB 14: The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the public debt offices, will remain closed on February 18, being public holiday as declared by the government on account of general elections.—APP... Oil prices above $95 LONDON, Feb 14: Oil prices soared above $95 on Thursday owing to the ongoing dispute between Venezuela and US energy major ExxonMobil and after an unexpectedly weak rise in US crude stockpiles, traders said.... ADB calls for new industrial policy ISLAMABAB, Feb 14: Expressing concerns over Pakistan’s falling exports, the Asian Development Bank (ADB) has urged the policymakers to develop a new industrial policy, which should ensure “strategic collaboration” between public... Corporate results KARACHI, Feb 14: ICI Pakistan, Al-Ghazi Tractors and Tri-Pack Films announced the corporate results for the year ended on December 31, 2007.... KSE 100-share index finishes at session’s peak level KARACHI, Feb 14: The dividend-linked rally on Thursday manifested itself in a big way as a section of leading investors opted for index-heavyweights under the lead of National Bank, OGDC and PTCL amid an actively traded session.... Cotton prices resist fresh decline KARACHI, Feb 14: After persistent decline of the last two sessions, cotton market on Thursday resisted fresh fall as ginners did not indulge in renewed selling and firmly held on to their unsold positions.... Giga Group celebrates golden jubilee KARACHI, Feb 14: Giga Group celebrated golden jubilee of its establishment.... Karachi Port operations KARACHI, Feb 14: Six ships carrying containers and to load molasses and cement are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, Feb 14: Berthing was slow at the wharves where only two container vessels were accommodated berths during the last 24 hours, said a PQA press release on Thursday.... ‘Ifad operations in Pakistan far from perfect’ RAWALPINDI, Feb 14: Pakistan has expressed its dissatisfaction over the performance of International Fund for Agriculture Development (Ifad), a specialised agency of the United Nations, saying that “the Fund’s operations and its targeting in Pakistan are far from perfect”.... SBP mops up Rs15.5bn KARACHI, Feb 14: The State Bank of Pakistan moped up Rs15.5 billion under its open market operation in treasury bills on Thursday.... PTCL slated KARACHI, Feb 14: Site Association of Industry Chairman Nisar Shekhani has slated the new PTCL management for not providing the improvised services.... Poultry rates KARACHI, Feb 14: The following are Friday’s poultry market rates:... Asian shares surge HONG KONG, Feb 14: Asian shares surged on Thursday as surprisingly good economic figures from Japan and the US sparked hopes that stock market prospects were less gloomy than feared....

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