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April 02, 2008 Wednesday Rabi-ul-Awwal 24, 1429 Saudi-Pak Bank acquisition deal completed KARACHI, April 1: The takeover deal of majority stake in Saudi-Pak Commercial Bank (SPCB) — a stock market listed company — by a consortium of International Finance Corporation (IFC), Bank Muscat,... Branchless banking rules issued KARACHI, April 1: The State Bank of Pakistan issued on Tuesday branchless banking regulations applicable to all banks, including Islamic and microfinance banks, with immediate effect to encourage innovation and increase outreach of the banking system.... ‘Monetary policy fails to check inflation’ KARACHI, April 1: President of the Federation of Pakistan Chambers of Commerce and Industry Tanvir A Sheikh has said the projection of inflation at 8 per cent instead of 6 per... Copper project to be functional in 2009 BEIJING, April 1: China’s state-backed mining and metals firm MCC Group said on Tuesday that its Pakistani Dapua copper project would start production in the first quarter of 2009.... KSE 100-share index recovers 85 points KARACHI, April 1: The Karachi Stock Exchange showed an improved performance on Tuesday followed by active short-covering in banking and insurance shares at lower levels, but the oil sector remained depressed despite reports of presence of foreign support.... Pakistan may issue exchangeable bonds KARACHI, April 1: Pakistan is likely to issue exchangeable bonds in the international market before the fiscal year ends on June 30, instead of planned conventional dollar or Islamic bonds, official and banking sources said on Tuesday.... WB to help Achieve economic stability ISLAMABAD, April 1: The World Bank will continue to work with Pakistan to reduce poverty and achieve economic stability and welfare of the people.... Wheat flour, milk prices shoot up KARACHI, April 1: Consumers received a shock on the first day of new month when retailers demanded Rs185-190 for 10 kg bag of wheat flour No.... Ban on rice exports to India sought KARACHI, April 1: Indian rice importers are placing big orders with their Pakistani counterparts in order to replenish their depleting stocks to meet their international and domestic commitments.... World rice prices surge after Indian curbs NEW DELHI, April 1: Indian restrictions on rice exports will spur global prices and help fellow exporters like Pakistan and Thailand because overseas sales from India will fall to a fraction of last year’s, a trade body said.... Oil falls below $100 LONDON, April 1: World oil prices slid under $100 per barrel on Tuesday, extending recent sharp losses on mounting concerns that slowing global growth could dampen energy demand, traders said.... Tajikistan seeks joint ventures FAISALABAD, April 1: Both Pakistan and Tajikistan have incredible potential in the field of textile, and joint ventures would improve the situation further.... Sluggish trading on cotton market KARACHI, April 1: Trading activity on the cotton market on Tuesday remained light as spinners kept to the sidelines most of the time awaiting sympathetic negative impact of falling world markets on the local prices, floor brokers said.... Karachi Port operations KARACHI, April 1: Five ships carrying imported wheat, palm oil and containers are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, April 1: Three ships scheduled to load/offload containers and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.... EDB readies budget proposals RAWALPINDI, April 1: The Engineering Development Board’s Committee on Competitiveness and Efficiency Improvement in Steel Sector has finalised its recommendations for incorporation in the federal budget for 2008-09.... Towel makers concerned KARACHI, April 1: The Towel Manufacturers’ Association of Pakistan (TMA) has taken strong exception to the notices being issued by the income tax authorities to its members for the recovery of Workers Welfare Fund (WWF).... Short-term money rates fall KARACHI, April 1: Short-term money rates fell on Tuesday but dealers expect them to remain range-bound for the rest of the week amid lack of inflows.... Exchange migration KARACHI, April 1: KalSoft Limited has successfully concluded Dubai Islamic Bank Pakistan’s migration of Exchange Server 2003 to Exchange Server 2007, along with Disaster Recovery and Unified Messaging.... Malaysian palm oil lower JAKARTA, April 1: Indonesian palm oil prices fell sharply on Tuesday, jolted by a big drop in Malaysian crude palm oil futures, as traders turned cautious after recent volatility.Crude... Asian stocks higher HONG KONG, April 1: Asian stocks closed mostly higher Tuesday but gains were capped amid mixed sentiment in the international economy, and after further subprime related losses were announced.... Gold falls LONDON, April 1: Gold tumbled to a two-month low below the key $900-an-ounce level on Tuesday as a jump in the dollar against the euro dampened the metal’s appeal as an alternative investment and triggered bullion selling.... Karachi market rates KARACHI, April 1: The following were Tuesday commodity market rates in rupees....

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