DAWN - Business; March 12, 2008

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March 12, 2008	Wednesday	Rabi-ul-Awwal 3, 1429

Eligible wheat traders to get loans: Cash margin raised KARACHI, March 11: The State Bank of Pakistan has allowed banks to finance wheat procurement by the private sector but restricted them to finance only “eligible borrowers.”...		Banks warned of action KARACHI, March 11: The State Bank of Pakistan has warned banks to stop irregularities regarding the lodging of Income Tax and Sates Refund Orders or face punitive action....

Loss declared profit: a mere oversight? KARACHI, March 11: After years in business, companies listed on the Karachi Stock Exchange have learnt that when the regulators get in touch, it is rarely to deliver good news....		Banks fail to disprove cartel charge ISLAMABAD, March 11: Banks have failed to satisfy Competition Commission of Pakistan (CCP) against their alleged involvement in fleecing the depositors by working as a cartel....

Sale of generators up with power outages KARACHI, March 11: The sale of power generators has picked up momentum as the load-shedding has become a daily routine with the start of the summer season....		Dollar hits new low LONDON, March 11: The dollar hit an all-time low against the euro here on Tuesday but later drew support from joint action by the US Federal Reserve and four other central banks to restore credit flows in the global financial system....

0.5m tons mango shortfall feared MULTAN, March 11: As inflorescence of mango trees has started, experts are apprehending a 0.5 million tons shortfall in mango production this year....		Blue chips help KSE sustain shocks with gains KARACHI, March 11: Stocks showed a mixed trend on Tuesday as investors played on both sides of the fence after reports of bomb blasts in Lahore triggered fresh selling from the weak holders and jobbers....

February inflation climbs by 11.2pc ISLAMABAD, March 11: Inflation spiked in February to its highest level since July 2007 on higher food and fuel prices, data showed on Tuesday....		Oil pricesnear $110 LONDON, March 11: Oil prices charted fresh record territory close to $110 on Tuesday after the dollar hit fresh historic lows against the euro amid persistent supply concerns....

Large ship not allowed at Gwadar KARACHI, March 11: A Panamax class vessel, laden with 72,900 tons of wheat, arrived from Canada early on Monday morning, but was not allowed to berth at the country’s first deep-sea Gwadar Port....		Karachi Port operations KARACHI, March 11: Three ships carrying containers, general cargo and to load cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....

Port Qasim KARACHI, March 11: Three ships to load and offload containers and fertiliser were berthed during the last 24 hours, said a Port Qasim Authority press release on Tuesday....		Firm trend maintained on cotton market KARACHI, March 11: The cotton market maintained a firm trend on Tuesday despite a fresh sharp fall in the New York cotton futures as ginners seem to be in no mood to follow the lead of global trend....

US trade gap widens WASHINGTON, March 11: The US trade deficit widened slightly in January as America’s voracious hunger for energy, especially crude oil, and Chinese imports showed few signs of abating....		Ex-CM allotted land for mosques, madressahs KARACHI, March 11: Former chief minister Dr Arbab Rahim provided land to four applicants for construction of mosques and madressahs under the new land policy, the rules for which were framed...

China’s inflation BEIJING, March 11: Inflation in China hit a near 12-year high of 8.7 per cent in February, the government said on Tuesday as it called for a “cool-headed” response to one of the nation’s most pressing economic concerns....		Asian stocks close mostly higher HONG KONG, March 11: Asian stocks closed mostly up after a late rally on Tuesday as bargain hunters emerged despite earlier US share price falls sparked by growing worries over a global credit crunch....