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February 29, 2008 Friday Safar 21, 1429 Freight margin on oil products may be changed ISLAMABAD, Feb 28: The government is likely to change the variable mode of inland freight equalisation margin (IFEM) on oil products to a fixed charge to make it more transparent and... Oil prices firmer on strong demand LONDON, Feb 28: Oil prices shot higher again on Thursday to test record highs on the back of continued strong demand and further troubles for the dollar, which plumbed historic lows against the euro....   Banks asked to provide ample credit to SMEs KARACHI, Feb 28: The State Bank of Pakistan has asked banks to provide ample credit to the Small and Medium Enterprises (SME).... Stock market recovers from overnight lows KARACHI, Feb 28: The Karachi Stock Exchange (KSE) 100-share index recovered on Thursday from the overnight lows and settled well above the barrier at 15,078.19, up 58.50... Structure for divesting SME Bank approved ISLAMABAD, Feb 28: The Board of Privatisation Commission on Thursday approved the transaction structure for divesting 93.88 per cent shares of SME Bank with the management control on ‘as is where is basis’.... Poultry feed import ban withdrawn ISLAMABAD, Feb 28: The government has withdrawn ban on import of poultry feed ingredients from European countries, including the United Kingdom, Ireland, Belgium, Denmark, Falkland, France, Germany, Italy, Luxembourg, Holland and Spain.... Decision on banks cartel likely in a month ISLAMABAD, Feb 28: The Chairman Competition Commission of Pakistan (CCP) Khalid A. Mirza, said on Thursday that banks were operating like a cartel to charge unfair fees and paying less profit to their depositors.... Dollar hits record low against euro LONDON, Feb 28: The dollar plunged to another record low against the euro on Thursday on fresh comments from the Federal Reserve chief on the plight of the US economy and another set of weak growth data.... Nepal for boosting trade via land ISLAMABAD, Feb 28: Ambassador of Nepal to Pakistan Bala Bahadar Kunwar has called for exploring ways for enhancing bilateral trade through land route.... Exporters urge TDAP to help repair rail track: Cement export to India KARACHI, Feb 28: Exporters of cement have urged the Trade Development Authority of Pakistan (TDAP) to resolve logistics problems hurting shipments to India by land.... Proposal on ROZs makes headway KARACHI, Feb 28: The US government’s long pending proposal of setting up Reconstruction Opportunity Zones (ROZs) in Pakistan’s north-western tribal areas is making some headway as the officials of Pakistan and... Reserves rise KARACHI, Feb 28; The country’s foreign exchange reserves rose by $57 million to $14.137 billion in the week that ended on Feb. 23, the central bank said on Thursday.... Trade with Kazakhstan ISLAMABAD, Feb 28: A two-member official delegation of the Embassy of Kazakhstan visited Islamabad Chamber of Commerce and Industry here on Thursday and discussed matters of bilateral trade between the two countries.... Port Qasim KARACHI, Feb 28: Three ships carrying containers, wheat and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Thursday.... Karachi Port operations KARACHI, Feb 28: Eight ships carrying imported wheat and to load cement and clinkers are due to arrive at the outer anchorage on Friday, according to KPT sources.... S. Asia to use 58pc of global fertiliser stocks RAWALPINDI, Feb 28: Pakistan beset with problem of population growth with limited reserves of good farm land, remains one of the main fertiliser consuming countries in the sub-region of South Asia,... US economy far from stagflation: Bernanke WASHINGTON, Feb 28: Despite rising inflation and soft economic conditions, the US economy is nowhere near the “stagflation” scenario of the 1970s, Federal Reserve chairman Ben Bernanke said on Thursday.... 2.5bn euros pledged to create jobs in Africa CAPE TOWN, Feb 28: French President Nicolas Sarkozy announced a 2.5 billion euro ($3.8bn) initiative on Thursday to finance nearly 2,000 companies and create 300,000 jobs in Africa over the next five years.... Active trading on cotton market KARACHI, Feb 28: Active trading was witnessed on the cotton market on Thursday as spinners and mills resumed their normal covering operations fearing a further increase in prices.... European shares ease LONDON, Feb 28: Europe''s main stock markets closed lower on Thursday, hit by weaker-than-expected US growth figures that added to concerns the US economy was at serious risk of recession, dealers said.... Karachi market rates KARACHI, Feb 28: The following were Thursday’s commodity market rates in rupees.... Company news KARACHI, Feb 28: UBL Fund Management and its parent company, United Bank, announced on Thursday the launch of their first joint investment product, The UBL Capital Protected Fund-1.... Gold softens but stays near record LONDON, Feb 28: Gold fell on light profit-taking on Thursday, but analysts said the metal remained within sight of record highs and was likely to head towards $1,000 an ounce on bullish sentiment.... Asian stock markets close mixed HONG KONG, Feb 28: Asian stocks closed mixed on Thursday with investors focusing on domestic political and economic issues for a lead after a lacklustre performance by Wall Street overnight.... Palm oil prices lower KUALA LUMPUR, Feb 28: Malaysian palm oil futures fell on Thursday as investors took profits after U.S. soy mostly declined in Asian trading from record highs.... Borse Dubai reports completion of mega deal with Nasdaq DUBAI, Feb 28: Borse Dubai said on Thursday it had completed a multi-billion dollar deal with the US exchange Nasdaq in which the Emirates-based firm sold its recently-acquired subsidiary, the Nordic and Baltic stock exchange operator OMX, to Nasdaq....

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