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March 16, 2008 Sunday Rabi-ul-Awwal 7, 1429 Overall inflation touches new height ISLAMABAD, March 15: The weekly inflation, measured through the Sensitive Price Index (SPI), increased by 15.67 per cent during the week ended on March 14, over the corresponding period last year, according to the Statistics Division data on Saturday.... Indian business waiting for new govt in Pakistan NEW DELHI, March 15: Indian tycoons and medium businesses are eagerly waiting for the elected political government in Pakistan to settle down so that they could explore the market....   Dollar may finally be due for a bounce NEW YORK, March 15: After plunging to another lifetime low against the euro, the US dollar may finally be due for a bounce.... Prices of essentials set for takeoff: Caretakers raise oil rates twice in a month KARACHI, March 15: The seven per cent hike in petroleum prices on Saturday, the second increase by the caretaker government in a month, is expected to turn prices of commodities, particularly food items, costlier.... Bank of China eyes expansion in Asia, ME BEIJING, March 15: Bank of China on Saturday ruled out swooping on Western financial institutions, felled by the still-spreading global credit crisis.... Fed acted to avert a domino-like disaster NEW YORK, March 15: The US Federal Reserve Bank strongly intervened to avert a disaster at Bear Sterns Banking firm in order to quell a “domino theory” like downfall of many... Crowded credit trade may risk mass unwind NEW YORK, March 15: Credit derivative traders have been piling into certain structured credit trades designed to generate high premium income while also taking a hedge against extreme deterioration of the economy.... Industrial estate in Thar near completion KARACHI, March 15: The Sindh Small Industries Corporation (SSIC) is constructing an industrial estate at Mitthi in Thar district at a cost of Rs156 million which is expected to be completed by the end of June.... Effective price control measures urged KARACHI, March 15: The Consumers Association of Pakistan (CAP) has sought immediate enforcement of Consumer Protection Ordinance in Sindh and setting up of consumers’ courts.... US wheat futures fall on credit woes CHICAGO, March 15: US wheat futures on all the three exchanges plunged, pressured by profit-taking as worries about tightening credit sparked some commodity funds to liquidate long positions, traders said.... BD to buy eight Boeing planes DHAKA, March 15: Biman Bangladesh Airlines signed a deal on Saturday to buy eight aircraft from Boeing Company worth $1.265 billion, a company official said.... China, Fed policies forcing retail prices up NEW YORK, March 15: At a time when US consumers are feeling pinched and looking for bargains, policies of the US Federal Reserve and the Chinese government will make it hard for US retailers to keep a lid on their prices.... FBR launches online HR management system ISLAMABAD, March 15: The Federal Board of Revenue (FBR) has launched online modules of indigenously developed human resource management system of the tax machinery.... Cotton market witnesses active trading KARACHI, March 15: Active trading was witnessed on the cotton market on Saturday as a section of leading spinners resumed normal trading to cover their forward positions against foreign sales of textiles.... Karachi Port operations KARACHI, March 15: Nine ships carrying wheat, trucks and to load naphtha are due to arrive at the outer anchorage on Sunday, according to KPT sources.... Port Qasim KARACHI, March 15: Three ships carrying containers and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Saturday.... Break-up of UK airport operator sought LONDON, March 15: An influential committee of politicians has joined a group of airlines in demanding the break-up of British airport operator BAA, arguing its dominance in London and Scotland has stifled competition.... UAE for clarity, transparency in wealth funds BRUSSELS, March 15: Rich countries calling for more openness from powerful foreign state-owned investment funds need to provide more clarity themselves, a minister from an oil-rich Gulf state said on Saturday.... Bush urges Congress to make tax cuts permanent WASHINGTON, March 15: US President George W. Bush on Saturday renewed his push for making tax cuts adopted earlier in his administration permanent, arguing they are important to help the ailing US economy.... ‘US perhaps frustrated by dollar slump too’ BRUSSELS, March 15: US authorities are perhaps frustrated like their European counterparts at the slump of the US dollar, Dutch finance minister Wouter Bos said, straying from an official European Union line on foreign exchange.... MCB Dynamic Allocation Fund KARACHI, March 15: MCB Asset Management Company has launched MCB Dynamic Allocation Fund.... Gold, oil prices forge historic heights LONDON, March 15: Gold prices topped $1,000 for the first time and oil futures rocketed to a record high $111 this week as the dollar plunged to all-time lows against the euro.... BD garment exports show strong recovery DHAKA, March 15: Bangladesh’s garment exports grew strongly on the back of hefty exports to major markets in Europe and the United States, signalling a recovery by the vital industry, officials said on Saturday.... Dollar lower against euro NEW YORK, March 15: The dollar skidded below 100 yen and marked fresh lows against the euro Friday as more US economic woes roiled the markets after news of an emergency loan to prop up Wall Street firm Bear Stearns.... New York cotton ends sharply lower NEW YORK, March 15: Cotton futures closed with steep losses on Friday, when news that investment bank Bear Stearns had indirectly tapped the Federal Reserve for a emergency cash, slammed many commodity markets, traders said.... Wall Street persists as Fed rate meeting looms NEW YORK, March 15: Unable to shake off credit market angst, Wall Street turns its attention to an upcoming Federal Reserve meeting where policymakers will attempt to restore market confidence.... IMF restores Liberia’s status WASHINGTON, March 15: The International Monetary Fund on Friday fully restored Liberia’s IMF status and approved $900 million in immediate financial support to the impoverished African country....

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