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March 25, 2008 Tuesday Rabi-ul-Awwal 16, 1429 Caretakers make life more miserable: Two oil hikes in a month KARACHI, March 24: The caretaker government, not only failed to safeguard the interests of the general public, but added to their woes during its tenure of over four months, trade sources said on Monday.... LPG prices cut by Rs10-15 LAHORE, March 24: The liquefied petroleum gas (LPG) marketing companies on Monday announced reduction of Rs10 to 15 in the price of 11.8 kg domestic cylinder with promise of further reduction...   Asian bankers worry about global slowdown SEOUL, March 24: Asian central banks are concerned about a slowing global economy and rising inflationary pressures caused by a US economic slowdown, South Korea’s central bank said on Monday.... Tenders invited for T-bills KARACHI, March 24: The State Bank of Pakistan, through its primary dealers, has invited tenders for sale of Market Treasury Bills (MTBs) from March 25 to 26, till 1115 hours.... IFSB Council meeting ISLAMABAD, March 24: State Bank of Pakistan Governor Dr Shamshad Akhtar has left for Jeddah to preside over the 12th annual meeting of the Islamic Financial Services Board Council, beginning on March 26.... Wrong policies blamed for sugar crisis LAHORE, March 24: Pakistan Sugar Mills Association (Punjab chapter) claimed on Monday that the market has crashed because of wrong policies of the federal government.“A serious crisis has developed in sugar... Non-textile exports grow by 21pc ISLAMABAD, March 24: Pakistan’s export of non-textile products recorded over 21 per cent growth during the first eight months of the current fiscal year as it stood at $4.872... Seminar on FTAs KARACHI, March 24: The Karachi Chamber of Commerce and Industry has arranged a seminar on “Exploring Pakistan’s export potential in China and Malaysia in the context of Free Trade Agreements” on Tuesday here KCCI Secretariat. ... Govt urged to revisit economic policies KARACHI, March 24: Speakers at a pre-budget seminar on Monday were unanimous in their views that the new government would confront difficulties in preparing the federal budget 2008-09 “as economy is... SBP, ICAP join hands for implementation: Islamic Financial Accounting Standards KARACHI, March 24: The State Bank of Pakistan, with the help of Institute of Chartered Accountants of Pakistan (ICAP), would make the implementation of Islamic Financial Accounting Standards (IFAS-2) possible to develop Islamic banking in the country.... Investment fund ABU DHABI, March 24: The United Arab Emirates and Qatar signed an accord on Monday creating a common investment fund, the official UAE news agency WAM reported.... Stocks gain 188 points seeing end to political uncertainty KARACHI, March 24: The stock market on Monday welcomed the nomination of much-delayed prime minister on the perception that the political uncertainty will end as the new set-up will be in place after the swearing-in of Yusuf Raza Gilani on Tuesday.... Afghanistan importing 90pc paints from Pakistan ISLAMABAD, March 24: Pakistan has started export of paints to Afghanistan, and over 90 per cent of paint requirements of Afghanistan are being met from Pakistan.... Short-term money rates end at top levels KARACHI, March 24: Short-term money rates ended at top levels on Monday amid a lack of cash inflows and banks had to borrow from the central bank’s discount window.... Iraq urged to let in Russian oil companies MOSCOW, March 24: Russian President Vladimir Putin has written to Iraqi Prime Minister Nuri al-Maliki asking him to support Russian investment in Iraq’s oil industry, the Kremlin said on Monday.... Body formed for furniture sector KARACHI, 24 March: A meeting was held in Trade Development Authority of Pakistan (TDAP) with the Furniture Manufacturing Association under the chairmanship of Chief Executive of Trade Development Authority of Pakistan Tariq Ikram.... Cotton trading fails to pick up KARACHI, March 24: Trading activity on the cotton market failed to pick up as spinners remained conspicuous by their absence leaving ginners guessing about their disinterestedness.... China unveils board rules for start-up companies SHANGHAI, March 24: China’s securities regulator has unveiled draft rules for a long-awaited Nasdaq-style secondary board for start-up companies with a lower threshold for listings, state media reported on Monday.... Limiting foreign stakes in EADS PARIS, March 24: Key shareholders in European aerospace giant EADS are to consider a move that would prevent foreign investors from acquiring more than a 15 per cent stake, the EADS... Karachi Port operations KARACHI, March 24: Eight ships carrying containers and RBD palm oil and to load naphtha are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, March 24: Three ships with containers, palm oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Monday.... New firm to buy up US home loans NEW YORK, March 24: A group of US financial market and mortgage industry veterans said on Monday they had formed a new investment company to buy up distressed mortgage loans.... Inflation in Gulf states seen rising to 7pc MANAMA, March 24: Inflation in the oil-rich Gulf Cooperation Council is set to rise to about seven per cent in 2008, compared with an earlier forecast of six per cent, the International Monetary Fund said on Monday.... Offer for Bear Stearns quintupled NEW YORK, March 24: JPMorgan Chase hiked its offer on Monday for Bear Stearns to $10 per share, or over $1 billion, quintupling a fire-sale price agreed on a week earlier for the distressed investment bank.... Palm oil prices up KUALA LUMPUR, March 24: Malaysian crude palm oil futures rose 6.3 per cent on Monday as funds piled back into commodity markets after a sell-off last week, dealers said.... Asian stocks close mostly higher HONG KONG, March 24: Asian stocks closed mostly higher on Monday with bargain hunters dominating trade, however, broader fears over the state of the United States economy continued to weigh on sentiment.... Indian sugar futures rise MUMBAI, March 24: Indian sugar futures rose on Monday, bolstered by strong demand in the physical market from makers of beverages and ice-creams and rising exports.... Karachi market rates KARACHI, March 24: The following were Monday’s commodity market rates in rupees....

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