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March 08, 2008 Saturday Safar 29, 1429 Businesses want peace for industrial growth KARACHI, March 7: If the future coalition government succeeds in bringing a lasting ethnic harmony and peace, the metropolis is all set to reappear on the country’s business map as a hub of industrial and trading activities.... Big markets close to protest blasphemy KARACHI, March 7: The Alliance of Market Associations (AMA) has claimed complete closure of all leading markets and bazaars to protest the outrageous publication of cartoons in Danish newspapers depicting the Holy Prophet (Peace Be Upon Him)....   Sabzi Mandi stays open KARACHI, March 7: The new Sabzi Mandi (wholesale vegetable market) did not observe strike on Friday called by the Alliance of Market Associations to protest against the publication of blasphemous cartoons in Denmark.... Stocks finish weekend session on easy note KARACHI, March 7: Stocks finished the weekend session on an easy note as investors played on both sides of the fence and took profits at the inflated levels, but the underlying sentiment remained uppishly inclined.... Oil sets fresh record LONDON, March 7: Oil prices hit a record high $106.54 per barrel on Friday as investment funds ploughed into the market following fresh economic evidence pointing towards a US recession, traders said.... Delay in operations by PSAI questioned: Gwadar Port KARACHI, March 7: Port and shipping experts have questioned the delay in operations of the Gwadar Port by the Port of Singapore Authority International (PSAI). The port was officially inaugurated on... Credit falls by 60pc KARACHI, March 7: Growth in banks advances fell by 60 per cent in 2007 compared to average growth of last four years reflecting slowdown in economy.... Borse Dubai eyes 40pc KSE stake DUBAI, March 7: Borse Dubai could seek a 40 per cent stake in the Karachi Stock Exchange (KSE), when Pakistan’s biggest bourse becomes a shareholder firm, a newspaper reported on Friday.... ADB to lend $75m for water project MANILA, March 7: The Asian Development Bank (ADB) will lend $75 million to improve the water system across the Potohar Plateau near Islamabad, the Manila-based lender said on Friday.... Sindh govt abandons plan to sell silos KARACHI, March 7: The Sindh government has abandoned plans to privatise its 11 grain silos built on the Super Highway at a cost of Rs228 million as it did not receive the reserve price.... Money rates fall sharply KARACHI, March 7: Short-term money rates fell sharply on Friday after inflows of around Rs12 billion into the inter-bank market, but dealers said rates were expected to rise again soon.... EADS protection plan BERLIN, March 7: Germany and France have not yet agreed on a way to prevent foreign investors acquiring major stakes in European aerospace group EADS, a government spokesman in Berlin said Friday.... Karachi Port operations KARACHI, March 7: Eight ships carrying containers, coal and to load ethanol, molasses and clinkers are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, March 7: Four ships carrying containers, diesel oil and iron ore arrived at the outer anchorage during the last 24 hours, said a PQA press release on Friday.... Upward trend halts on cotton market KARACHI, March 7: An imminent flare-up in local cotton prices was halted on Friday following reports of above-limit-loss in New York cotton futures on heavy selling by the fund traders.... US loses 63,000 jobs in Feb WASHINGTON, March 7: A stumbling US economy lost 63,000 jobs in February, according to a shockingly weak report on Friday that prompted the Federal Reserve to take fresh steps to pump liquidity into the stressed banking system.... Dollar bounces from new low LONDON, March 7: The dollar plunged to a record low against the euro on Friday on dismal US jobs data but later clawed back losses after the Federal Reserve said it would pump $200 billion into the cash-strapped banking system.... Global stocks fall LONDON, March 7: US employment data sent world stock markets sliding on Friday, with sharp losses in Europe and Asia, but traders on Wall Street later recovered their composure to lift US shares from their lows.... Indian inflation above 5pc NEW DELHI, March 7: India’s inflation rate crossed five per cent to hit a nearly 10-month high, according to official data on Friday, dealing a blow to the government and reducing chances of an early interest rate cut.... Don’t expect a rapid US rate cut: Fed PARIS, March 7: A senior US Federal Reserve official issued a warning here Friday against expectations the central bank might soon approve another cut in US interest rates aimed at shoring up stock market sentiment.... Asian stocks slide on US subprime mess HONG KONG, March 7: Asian shares tumbled on Friday after more bad news out of the ailing US economy about the subprime mortgage crisis, capping a difficult week for regional bourses.... Gold prices higher LONDON, March 7: Gold drifted higher towards the key $1,000 level on Friday after slipping from record highs in the previous session, with investors awaiting U.S. jobs data for near-term direction.... Karachi market rates KARACHI, March 7: The following were Friday’s commodity market rates in rupees....

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