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February 23, 2008 Saturday Safar 15, 1429 Current account deficit up by 47pc KARACHI, Feb 22: Pakistan’s current account deficit increased by 47 per cent in the first seven months of the current fiscal year, making external payments more difficult for the country, especially... Tax on Finished pesticides waived ISLAMABAD, Feb 22: The Federal Board of Revenue (FBR) has exempted commercial importers of finished pesticides from the levy of two per cent additional tax....   Opec still sticking to ‘low output’ strategy RIYADH, Feb 22: With crude prices hovering around $100 a barrel mark, the Organisation of Petroleum Exporting Countries (Opec), due to meet to decide its output quotas on March 5, says... KESC warns of power crisis in summer KARACHI, Feb 22: The Karachi Electric Supply Company has warned industrial and domestic consumers of worst power breakdowns in summer.... Indus Motors declares 40pc interim dividend KARACHI, Feb 22: The Indus Motor Company has declared an interim dividend at the rate of 40 per cent or Rs4 per share for the half year ended on December 31,... ADB discovers delays in project implementation RAWALPINDI, Feb 22: The Asian Development Bank, in a new report, says Pakistan has long delays in implementation of ADB-assisted projects and programme as well as average delays in loan closings.... SECP opens facilitation centre ISLAMABAD, Feb 22: The Securities and Exchange Commission of Pakistan (SECP) here on Friday inaugurated the facilitation centre at its company registration office (CRO).... Oil rises near $99 on Iraq, US weather NEW YORK, Feb 22: Oil rose to near $99 a barrel on Friday as an incursion into Iraq by Turkish troops and cold weather in the US Northeast outweighed concerns about mounting problems in the US economy.... Nine customs officials transferred ISLAMABAD, Feb 22: Federal Board of Revenue chairman M Abdullah Yousuf in a major reshuffle on Friday transferred nine senior customs officials, just a few days before the formation of new government.... Indian inflation NEW DELHI, Feb 22: India’s annual inflation rate accelerated to a six-month high, driven by rising food prices, data showed on Friday, with prices expected to increase further due to a fuel hike.... Stock market ends week with 8.69-point gain KARACHI, Feb 22: Stocks on Friday maintained a firm outlook followed by strong selective support but the afternoon session witnessed a lot of profit-selling at the higher levels, which pushed some of the leading shares modestly lower.... Rice prices shoot up KARACHI, Feb 22: Influenced by soaring world prices all rice varieties in the domestic market have registered a rise of 12 to 25 per cent in one month.... Panic-buying sends lint prices to new peak KARACHI, Feb 22: Cotton prices on Friday soared to new seasonal peak level of Rs3,400 per maund followed by panic buying by the mills and spinners amid reports of delay in imported consignments from India.... Karachi Port operations KARACHI, Feb 22: Six ships carrying containers, coal and DAP fertiliser are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Feb 22: Six ships carrying containers, edible oil, wheat and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Friday.... Company news KARACHI, Feb 22: Tariq Kirmani has been elected unopposed as director of National Bank of Pakistan. According to a press release the Extraordinary General Meeting for election of one director from... Poultry rates KARACHI, Feb 22: The following are Saturday’s poultry market rates:... Dollar falls against euro LONDON, Feb 22: The dollar continued weaker on Friday after a series of poor US data reinforced expectations that the US Federal Reserve will have to cut interest rates sharply again in March to keep the economy on track.... Packaging exhibition ISLAMABAD, Feb 22: The 3rd Plastic, Packaging and Print Asia 2008 International Exhibition will be held in Karachi from March 25-27 at Karachi Expo Centre.... Asian shares mostly down HONG KONG, Feb 22: Asian shares closed mostly down on Friday after disappointing economic news rattled investors by fanning fears that the US economy is tipping into recession.... Palm oil at new peak KUALA LUMPUR, Feb 22: Malaysian palm oil futures surged to record highs for the seventh consecutive session on Friday on hopes China will buy more palm oil to replenish its vegetable oil reserves.... Platinum hits historic high LONDON, Feb 22: Platinum powered to an historic high near $2,200 an ounce on Friday as supply problems in top producer South Africa triggered speculative buying, but slipped later on profit-taking....

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