DAWN - Business; March 09, 2008

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March 09, 2008	Sunday	Safar 30, 1429

Punjab, NWFP traders buying Sindh wheat KARACHI, March 8: While merchants from Punjab and the NWFP are negotiating purchase of wheat from fresh crop in Mirpurkhas and other places of lower Sindh at Rs550 to Rs580 for...		Pakistanis invited to explore business in Philippines LAHORE, March 8: With a sizeable consumer market and strategic location in a vast free-trade area, Philippines has unlimited business opportunities for Pakistan....

Plea for revoking NCEL’s rice export licence LAHORE, March 8: The Rice Exporters Association of Pakistan (Reap) has said that Pakistan will suffer a loss of around Rs2 billion per annum, if the National Commodity Exchange Limited (NCEL) was allowed to purchase and export Pakistani rice worldwide.“It’s...		Trade pins high hopes on new budget KARACHI, March 8: Business community pins high hopes on the new government for announcing incentives in its first budget despite tough tasks lying ahead. These include controlling rising food prices, tackling...

CFS rates rise KARACHI, March 8: The CFS rates on the Karachi Stock Exchange last week showed a modest rise of 20 basis points at 11.9 per cent as demand for fresh credit line remained on the higher side....		Inflation up by 14.53pc ISLAMABAD, March 8: The weekly inflation, measured through the Sensitive Price Index (SPI), increased by the highest-ever 14.53 per cent during the week ended on March 7, over the corresponding period last year, according to the Statistics Division data on Saturday....

Fertiliser industry helps farmers with Rs41bn KARACHI, March 8: The fertiliser industry bears the burden of Rs41 billion of the total benefit of Rs55 billion provided to the farming community through lower domestic urea prices, a senior official of one of the major manufactures said....		Car prices raised ISLAMABAD, March 8: Indus Motors Company (IMC) has enhanced the prices of all the models of Cuore and Corolla diesel by Rs10,000 and Rs20,000, respectively, despite the withdrawal of 2.5...

US ‘real’ interest rates set to go negative CHICAGO, March 8: A job creation drought in the United States has almost guaranteed that the Federal Reserve will push benchmark interest rates down to negative real levels this year in an attempt to regenerate economic growth....		Textile show KARACHI, March 8: Almurtaza Machinery Company Limited (AMCL) will display latest embroidery machines in the fifth Textile Asia International Exhibition scheduled to be held from April 4 to 7 at the Karachi Expo Centre....

Conversion rates KARACHI: The following are March 10 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....		Cotton trading gets dull after panic buying KARACHI, March 8: Physical activity on the cotton market on Saturday remained at low ebb as spinners were conspicuous by their absence after having made panic buying during the last couple of sessions....

Diamond grading KARACHI, March 8: A diamond grading training workshop, organised by the Pakistan Gems and Jewellery Development Company (PGJDC), started in Karachi on Saturday....		Restructuring cell for sick units KARACHI, March 8: The Union of Small and Medium Enterprises (Unisame) has urged the Small and Medium Enterprises Development Authority (Smeda) to set up a restructuring cell for sick units....

BD expects $1bn loss on oil imports DHAKA, March 8: Bangladesh’s state-owned oil company will post a record net loss of nearly $1 billion in the current fiscal year due to sky-rocketing global crude oil prices, its chairman said on Saturday....		Karachi Port operations KARACHI, March 8: Four ships carrying containers and to load cement are due to arrive at the outer anchorage on Sunday, according to KPT sources....

Turkish GDP ANKARA, March 8: Turkey has changed its method of calculating its gross domestic product, switching to the system used in the European Union which it is hoping to join, the country’s statistics office said on Saturday....		Commodity prices spike to record peaks LONDON, March 8: Oil, gold, platinum and copper prices rocketed to record highs this week, boosted by weak supplies and fervent demand stemming from the weak dollar and the darkening US economic outlook, traders said....

Dollar inches higher after new low against euro NEW YORK, March 8: The dollar sank to a new low against euro Friday on dismal US jobs data but later clawed back losses after the Federal Reserve said it would pump more liquidity into the cash-strapped banking system....		NY cotton stays limit-down NEW YORK, March 8: NYcotton futures remained at their daily 4-cent downside limit for most of the session and into the close for a second day in a row on Friday,...

Wall Street gripped by recession fears NEW YORK, March 8: With economic news getting bleaker by the day and worries growing about credit markets seizing up, Wall Street investors have been scurrying for cover....		Credit crisis to last until after summer: KBC CEO BRUSSELS, March 8: The global credit crisis stemming from the US subprime mortgage woes may last until after summer holidays in Europe, longer than previously thought,...