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February 28, 2008 Thursday Safar 20, 1429 Tough decisions to improve ailing economy, Zardari tells traders ISLAMABAD, Feb 27: PPP Co-chairman Asif Ali Zardari told a 45-member business delegation on Wednesday that the new government will have to take tough decisions to improve the ailing economy.... Gold touches new peak of Rs19,200 KARACHI, Feb 27: Gold touched a new peak of Rs19,200 per 10 grams on Tuesday as compared to the previous highest record of Rs19,900 on Monday following continuous increase in world gold prices....   Hubco holds tariff talks with Nepra for new unit KARACHI, Feb 27: The Hub Power Company Limited (Hubco) has held talks with the National Electric Power Regulatory Authority (Nepra) in regard to tariff structure of the company’s new power plant,... Food import bill rises by 18pc in 7 months ISLAMABAD, Feb 27: The import bill of eatable items rises to the highest- ever level of $2.04 billion in the first seven months of the current fiscal year, up by 18.14... Wheat estimates a guess work KARACHI, Feb 27: There are doubts on wheat crop estimates this season mainly because of reduction in sowing area, drastic fall in phosphate fertiliser consumption and finally a change for worse... Oil above $102 LONDON, Feb 27: Oil prices hit record highs Wednesday above 102 dollars on trade driven by a sliding US dollar and growing supply nerves ahead of key Opec production meeting next week, traders said.... Banks told to submit info about Sukuk KARACHI, Feb 27: The State Bank of Pakistan has advised all Islamic banking institutions i.e. Islamic banks and conventional banks having Islamic banking branches to provide information regarding the issuance of... Stocks finish lower on poor corporate earnings KARACHI, Feb 27: The share market on Wednesday again turned lower after early higher opening as investors played on both sides of the fence apparently disappointed by below market expectations on corporate earnings by some of the leading companies.... PTCL reports net loss at Rs9.54bn in first half KARACHI, Feb 27: Pakistan Telecommunication Company Limited (PTCL) reported on Wednesday a net loss of Rs9.54 billion in the first half of current fiscal year.... Yield on six-month T-bills raised KARACHI, Feb 27: The State Bank of Pakistan raised cut-off yield on benchmark six-month treasury bills at an auction on Wednesday to 9.8024 per cent from 9.7269 per cent.... OGDCL announces 20pc interim dividend ISLAMABAD, Feb 27: The Oil and Gas Development Company Limited (OGDCL) on Wednesday announced an interim cash dividend of Rs2 per share (20 per cent) to the shareholders for first half... Gold surges to record high LONDON, Feb 27: Gold surged to a record high above $960 on Wednesday as investors poured money, spurred by a plummeting dollar and oil rising above $102 a barrel.... Karachi Port operations KARACHI, Feb 27: Eight ships carrying containers, dump trucks and to load ethanol are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Feb 27: Six ships scheduled to load/unload containers, rice, palm oil, wheat, diesel oil and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Cotton prices soar to 10-year peak KARACHI, Feb 27: Cotton prices soared to 10-year peak level of Rs3,500 per maund for quality lint on the Karachi Cotton Exchange on Wednesday as leading spinners opted to grab the... Selection of cases for IT audit flayed LARKANA, Feb 27: Income tax bar associations of Larkana and Sukkur have criticised the procedure for selection of tax cases pertaining to Sukkur zone for audit.... Govt, industry lock horns over mode of payment: 3-month salary to workers KARACHI, Feb 27: The Sindh government and trade bodies have locked horns on the mode of payment of compensation to those factory workers who lost jobs in the aftermath of violence... Malaysian palm oil up KUALA LUMPUR, Feb 27: Malaysian palm oil futures rose nearly 2 per cent on Wednesday on bullish price forecasts and news of strong demand, but gains were tempered by easing rival soybean oil, traders said.... Asian stock markets close higher HONG KONG, Feb 27: Asian shares closed higher on Wednesday as Wall Street continued its recent rally but broader regional gains were capped as the cost of crude struck a record high.... Si3, Faysal Bank sign agreement KARACHI, Feb 27: System Innovation (Si3) and Faysal Bank Limited have signed an agreement according to which Si3 would deploy global best practices Human Capital Management Application at Faysal Bank.... Karachi market rates KARACHI, Feb 27: The following were Wednesday’s commodity market rates in rupees....

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