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March 19, 2008 Wednesday Rabi-ul-Awwal 10, 1429 Aptma’s initiative to conserve energy LAHORE, March 18: The All Pakistan Textile Mills Association has launched an initiative for conservation of energy. The National Productivity Organisation (NPO), GTZ and National Energy Conservation Centre (Enercon) have joined... Wages of bank executives jump by 55pc: Spending up by 27pc in 2007 KARACHI, March 18: The banks administrative expenses shot up by average 27 per cent during the year ended on December 31, 2007....   KSE 100-share index plunges by 317 points KARACHI, March 18: The KSE 100-share index on Tuesday virtually crashed from the recent highs by 317 points or 2.11 per cent on panic selling triggered by a massive plunge on... New govt urged to evolve policies afresh LAHORE, March 18: The President of Lahore Chamber of Commerce and Industry, Mohammad Ali Mian, has called upon the members of the National Assembly to use their expertise and wisdom to... Global stocks rebound NEW YORK, March 18: Global stocks rebounded on Tuesday on relief over better-than-expected profit reports by two Wall Street banks, but the dollar weakened ahead of a Federal Reserve meeting where US interest rates were likely to be slashed.... Rs1bn released for 4 industrial estates KARACHI, March 18: The Sindh government has released Rs one billion for development of infrastructure in four industrial estates of Karachi, namely Korangi, Landhi, F B Area and North Karachi.... Ghee prices of 16-kg tin fall KARACHI, March 18: The prices of 16-kg ghee tin have fallen to Rs1,850 in Punjab and NWFP from the highest peak level of Rs2,150 in the first week of March owing to falling prices of palm olien in Malaysia.... Dollar dips against euro LONDON, March 18: The dollar wobbled close to record low points against the euro on Tuesday as traders eagerly awaited an interest rate decision from the US Federal Reserve, analysts said.... UK inflation rises LONDON, March 18: British inflation rose to an annual rate of 2.5 per cent in February, the highest level since May 2007, official data showed on Tuesday.... Americans believe US economy in recession NEW YORK, March 18: Majority of Americans think the country is in a recession, a USA Today/Gallup Poll said on Tuesday after the stock market crisis which was triggered by the collapse of Bear Stearns financial group.... Fed cuts benchmark rate by 3/4 point WASHINGTON, March 18: The US Federal Reserve slashed key interest rates three-quarters of a point Tuesday, bringing the federal funds rate to 2.25 per cent, to fight a mushrooming credit crisis.The... Oil prices climb LONDON, March 18: Oil prices advanced on Tuesday, in line with rebounding world equity markets, but remained some way off the record high of nearly $112 that was hit the previous day.... Karachi ort operations KARACHI, March 18: Four ships carrying container, tallow and to load clinkers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, March 18: Two ships carrying containers and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.... Physical activity on cotton market falls KARACHI, March 18: Physical activity on the cotton market fell to low ebb on Tuesday as spinners and mills kept to the sidelines, anticipating a fall in local prices in sympathy with the New York cotton futures.... Inflation top concern for China BEIJING, March 18: China’s central bank said on Tuesday it would increase the amount of money commercial banks must keep in reserve, just hours after Premier Wen Jiabao warned inflation was a top concern.... Jewellery designing QUETTA, March 18: Pakistan Gems and Jewellery Development Company has organised a computer-aided jewellery designing course at the computer lab of National Institute of Design and Analysis, Takatu Campus, here.... Goldman, Lehman profits slump NEW YORK, March 18: Goldman Sachs and Lehman Brothers, two of Wall Street’s biggest investment banks, both announced sharp declines in quarterly profits on Tuesday as a credit squeeze ravages US financial markets.... Agreement signed KARACHI, March 18: KalSoft Limited, a leading integrated IT solution provider, and Bank Alfalah, one of the most progressive institutions in the country with more than 200 branches in 74 cities,... Nafa Income Fund KARACHI, March 18: The National Fullerton Asset Management Limited will launch Nafa Income Fund (NIF) in the last week of this month.... Record prices reduce Dubai gold sales DUBAI, March 18: Record high gold prices dampened Dubai’s gold sales in February, depressing volume by about 15 per cent from a year-ago, a top industry executive said on Tuesday.... Asian stocks rebound ahead of US rate call HONG KONG, March 18: World markets were on tenterhooks on Tuesday ahead of a key US interest rate decision, with investors expecting bold action by the Federal Reserve to try to ease the credit crisis rocking Wall Street.... Company news NEW YORK, March 18: The 2008 South Asian Excellence Awards (SAEA), to be hosted by Sony Entertainment Television Asia, are created to recognise and honour South Asian achievers in the fields... Global grains lose ground SYDNEY/PARIS, March 18: Global wheat prices slid on Tuesday after Chicago Board of Trade soybean futures fell by their maximum limit as speculative funds ditched commodities on deepening worries over the crisis in financial markets.... No BoJ candidate selected yet TOKYO, March 18: Japan’s government failed on Tuesday in a last-ditch attempt to avert a leadership vacuum at the country’s central bank amid a global credit crisis, as the opposition rejected its second candidate....

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