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February 26, 2008 Tuesday Safar 18, 1429 Competition to benefit cellphone users: Entry of China Mobile KARACHI, Feb 25: The cellphone operators are confident that the entry of China Mobile in the local market would not harm their business as they focus more on the sales volume rather than profit margin making them highly competitive.... Two MoUs signed for horticulture uplift ISLAMABAD, Feb 25: The Investment Division and Board of Investment (BoI) here on Monday signed two memorandums of understanding (MoUs) with Small and Medium Enterprise Development Authority (Smeda) and Punjab Agri Marketing Company (Pamco) to promote the agriculture sector....   Uncertainty looms large over Pakistan: Moody’s KARACHI, Feb 25: Political uncertainties still abound and a wider process of reconciliation faces deep chasms, said Aninda Mitra, Moody’s vice- president and lead analyst, said in a statement on Monday.... Lucky Cement to offer $150m GDR this year KARACHI, Feb 25: Lucky Cement Company Limited intends to offer its stalled GDR worth $150 million during the current financial year, the company’s Finance Director Muhammad Abid Ganatra said on Monday.... TDAP to issue ‘certificate of origin’ KARACHI, Feb 25: The Trade Development Authority of Pakistan (TDAP) will issue the “certificate of origin” for the export of long-grain basmati rice to Sri Lanka under zero-duty facility on first-come-first-served basis.... ‘FBR violating self-assessment scheme’ KARACHI, Feb 25: Tax practitioners and consultants have resented the Federal Board of Revenue (FBR) move to allow the field staff to widely use ominous clauses of the Income Tax Ordinance,... ‘LPG demand outpaces production’ KARACHI, Feb 25: The demand for liquefied petroleum gas (LPG) has increased by 14 per cent in the last eight years while its local production progressing at 10.8... Kinno enters Chinese market ISLAMABAD, Feb 25: Pakistani kinno has made its first ever presence in China as a container carrying 26 tons of the citrus finds its way into Chinese market during the current season under the Free Trade Agreement (FTA).... SBP asks banks to refund fines to exporters KARACHI, Feb 25: The State Bank of Pakistan has decided to refund fines totalling Rs2.354 million imposed on commercial banks for availing refinancing facilities under the defunct scheme of Long Term... KSE 100-index loses 33 points on political rumours KARACHI, Feb 25: Equity values on Monday failed to extend last week’s sustained run-up as a section of investors took profits at the higher levels in an overbought market but analysts... Meezan Bank announces 20pc bonus shares KARACHI, Feb 25: Meezan Bank has announced 20 per cent bonus shares for its shareholders.... Oil prices steady LONDON, Feb 25: Oil prices rose on Monday, with New York close to $99 a barrel, as Turkey’s offensive in Iraq and fears of a forthcoming Opec output cut sparked fresh supply worries, dealers said.... Visa to raise $18.8bn NEW YORK, Feb 25: Visa Inc., the world’s biggest electronic payment processing company, unveiled plans on Monday for what could be a record US initial public offering (IPO), saying it hoped to raise $18.8... Conversion rates KARACHI: The following are February 26 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds.... Prices of fine lint fall by Rs50 per maund KARACHI, Feb 25: Cotton market on Monday consolidated the previous gains as some of the spinners and mills remained active buyers around the current levels.... Karachi Port operations KARACHI, Feb 25: Nine ships carrying soyabean oil, containers and to load ethanol are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Feb 25: Three ships carrying containers, edible oil and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Monday.... Sovereign funds ABU DHABI, Feb 25: Former US Federal Reserve chairman Alan Greenspan said on Monday that opposition to investments by Gulf and Asian sovereign wealth funds (SWFs) in the United States did not serve US interests.... Asian stocks close mostly higher HONG KONG, Feb 25: Asian shares closed mostly higher on Monday with sentiment underpinned by a rally on Wall Street where investors were offered some relief from the latest bout of subprime jitters.... London gold prices up LONDON, Feb 25: Gold advanced on Monday to trade just below a recent historic high on investor buying, but pared gains later as the dollar rose against the euro, traders said.... Palm oil hits new high KUALA LUMPUR, Feb 25: Malaysian palm oil futures soared nearly 6 per cent to a new high on Monday, the biggest rise in a single day, as surging demand for vegetable oils and a possible global supply squeeze lifted prices.... Karachi market rates KARACHI, Feb 25: The following were Monday’s commodity market rates in rupees....

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