DAWN - Business; April 11, 2008

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April 11, 2008	Friday	Rabi-us-Sani 4, 1429

PPP-MQM coalition ‘must’ for peace: Trade concerned over violence KARACHI, April 10: The business community has expressed grave concern over the violence that erupted in the city on Wednesday....		Pakistan, India agree to sort out tariff issues: Iran gas pipeline ISLAMABAD, April 10: Pakistan and India have agreed to finalise their much-delayed bilateral tariff and transit fee issues to pave the way for concluding higher level talks between the two countries on April 23 over Iran-Pakistan-India (IPI) gas pipeline project....

Politicians urged to check violence LAHORE, April 10: The Lahore Chamber of Commerce and Industry and Pakistan Industrial Associations Front have jointly appealed to the political leadership to check the incidence of violence posing a serious threat to the country’s economy....		Rupee off 6-1/2-year low KARACHI, April 10: The rupee edged up on Thursday after falling to a 6-1/2-year low a day earlier and dealers said higher demand from importers, particularly for oil payments, could keep the local unit range-bound for now....

Brown calls for action over global inflation LONDON, April 10: British Prime Minister Gordon Brown called on Thursday for action by the G8 main industrialised powers over the soaring inflation that has sparked mounting unrest around the globe....		Mybank may fall prey to mergers KARACHI, April 10: The process of consolidation is catching on in the financial sector as small banks find it harder to survive any longer in the country....

Euro weakens against dollar LONDON, April 10: The euro turned weaker against the dollar on Thursday, after earlier soaring to a record high against the greenback, on comments by the head of European Central Bank signalling no imminent hike in eurozone interest rates....		‘Rice export at low price causes $500m loss’ ISLAMABAD, April 10: Legislators drew the government attention on Thursday towards the export of basmati rice from Pakistan at much reduced unit price as compared to other countries, causing a loss of $500 million to the exchequer during 2007-08....

Oil slips from record NEW YORK, April 10: Oil slipped from record highs on Thursday as top exporter Saudi Arabia insisted markets were amply supplied despite falling US inventories....		Stocks limit losses on active short-coverings KARACHI, April 10: The KSE 100-share index on Thursday reacted violently to the Wednesday’s city violence and arson incidents as panicked investors indulged in hasty selling fearing further deterioration in the law and order situation....

Forex reserves decline to $13.1bn KARACHI, April 10: Pakistan’s foreign reserves fell by $141 million to $13.134 billion in the week that ended on April 5, the central bank said on Thursday....		ECB chief appeals for price, wage restraint FRANKFURT, April 10: The head of the European Central Bank appealed for price and wage restraint on Thursday, recalling “mass unemployment” after pay hikes years ago and signalling no change in ECB interest rates any time soon....

Britain cuts key interest rate to 5pc LONDON, April 10: The Bank of England cut its key interest rate by a quarter of a point on Thursday to 5.00 per cent, balancing the risks of rising near-term inflation and economic slowdown spread by the credit crisis....		UK trade deficit shrinks LONDON, April 10: Britain’s trade-in-goods deficit with the rest of the world fell to 7.5 billion pounds in February from 7.9 billion in January, official data showed on Thursday....

Active trading seen on cotton market KARACHI, April 10: Active trading was witnessed on the cotton market on Thursday as spinners made near-panic buying amid fears of an imminent price flare-up....		S. Arabia says oil market well-supplied PARIS, April 10: Saudi Oil Minister Ali al-Naimi said oil markets were well-supplied and the world would continue to have enough fuel for its needs....

Karachi Port operations KARACHI, April 10: Eight ships carrying containers, crude oil and rock phosphate are due to arrive at the outer anchorage on Friday, according to KPT sources....		Port Qasim KARACHI, April 10: Three ships scheduled to load/offload containers, diesel oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Thursday.Meanwhile,...

Gas projects MOSCOW, April 10: Russian energy giant Gazprom and Eni of Italy are in talks about working on joint gas projects in Libya....		Qatar to supply LNG to China BEIJING, April 10: China and Qatar on Thursday signed deals for the purchase of five million tons of liquefied natural gas (LNG) a year from the oil-rich Gulf state, the two sides said....

Khushhali Bank ISLAMABAD, April 10: Khushhali Bank has been converted into a public limited company and incorporated with the Securities & Exchange Commission of Pakistan....		Asian stocks mixed amid record oil HONG KONG, April 10: Asian stocks closed mixed on Thursday as investors digested a fresh record in oil prices and an IMF forecast of a US-led world economic slowdown following the global financial crisis....

Palm oil up 3.9pc KUALA LUMPUR, April 10: Malaysian crude palm oil futures jumped 3.9 per cent on Thursday as palm oil stocks eased from record levels, and a possible continuation of the Argentine soy farmers strike rekindled ideas of a vegoil supply squeeze....		Gold hits 10-day high LONDON, April 10: Gold firmed to a 10-day high on Thursday, as a weaker dollar and strong oil prices lifted the metal’s appeal and attracted investors into the market....