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April 12, 2008 Saturday Rabi-us-Sani 5, 1429 Consensus NFC formula likely soon KARACHI, April 11: As Pakistan People’s Party has emerged as a common force at federal and provincial levels political activists are expressing the hope that a consensus National Finance Commission award... ADB unveils new strategy for Asia-Pacific economic uplift RAWALPINDI, April 11: The Asian Development Bank announced on Friday a new long-term strategic framework for 2008-2020 to move Asia and the Pacific to a higher level of economic development.... Only 0.25pc users avail MNP facility KARACHI, April 11: The facility of Mobile Number Portability (MNP), launched on March 23 last year, has failed as only 0.25 per cent of the cellphone users have availed it.... OECD foresees global slowdown PARIS, April 11: The world’s leading industrialised economies, along with emerging market powerhouses China and India, are headed for slower growth in the near term, the OECD warned here on Friday.... Trade deficit outpaces exports ISLAMABAD, April 11: Trade deficit hit an all-time high of $14.486 billion in the first nine months of the current fiscal year, up by 44.27 per cent from $10.041... Govt urged not to take back R&D facility FAISALABAD, April 11: Faisalabad Chamber of Commerce and Industry President Asim Khursheed has urged the government not to withdrew research and development (R&D) facility.... SBP reduces time for submission of forex data KARACHI, April 11: The State Bank of Pakistan has reduced the time span for sending details of foreign exchange transactions to 5 days from 10 days.... Dollar dips LONDON, April 11: The dollar dipped against the euro on Friday on news of a drop in US consumer confidence and on speculation that Group of Seven finance chiefs meeting later... RTO demands 20-year old tax arrears KARACHI, April 11: The city regional tax office has issued notices to taxpayers for the recovery of arrears pertaining to a period stretching to well over two decades.... Weekly inflation up by 20pc ISLAMABAD, April 11: The prices of 22 essential kitchen items witnessed an average seven per cent increase during the week ended on April 10, over the previous week.... Oil hike not included in March inflation KARACHI, April 11: The March inflation, which rose to a record 14.2 per cent, can go up further if impact of revised oil prices is also included.... KSE 100-share index recovers 125.97 points KARACHI, April 11: Stocks were back on the rails on strong local and foreign buying in leading oil shares on Friday on reports of higher production and owing to some other... Cotton prices ease by Rs50 per maund KARACHI, April 11: Cotton market on Friday eased from the recent highs by Rs50 per maund as some of the ginners cleared their backlog of unsold stocks at the lower prices.... Karachi Port operations KARACHI, April 11: Eight ships carrying containers, chemicals and to load cement are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, April 11: Three ships carrying containers, wheat and furnace oil, were accommodated berths during the last 24 hours, said a PQA press release on Friday.... ‘Energy crisis affects revenue collection’ RAWALPINDI, April 11: Federal Board of Revenue Chairman Abdullah Yusuf has said that shortages of electricity and gas, in addition to the law and order situation in the country, were hampering... China’s reserves hit $1.682trn BEIJING, April 11: China’s foreign exchange reserves, already the world’s largest, climbed to $1.682 trillion at the end of March, the central bank said on Friday.... Textile exports KARACHI, April 11: Federal Commerce Minister Shahid Khaqan Abbasi has assured the apparel industry of a level-playing field for increasing exports of value-added textile goods from $3.5 billion to $30 billion.... Nafa-Alico partnership KARACHI, April 11: National Fullerton Asset Management Ltd (Nafa) and American Life Insurance Company (Pakistan) Limited (Alico) have entered into a strategic business partnership whereby Alico’s unit-linked insurance plans will be... Elected KARACHI, April 11: CFA Association of Pakistan President Mohammad Shoaib has been elected CFA Institute’s Presidents’ Council Representative for the Asia-Pacific region for 2008-10, says a press release.... ‘Challenging year for Asia-Pacific’ WASHINGTON, April 11: The International Monetary Fund said on Friday the Asia-Pacific region faces a challenging year, having to cope with an expected global slowdown led by the United States and a sharp spike in inflation.... Asian stocks close mostly higher HONG KONG, April 11: Asian stocks closed mostly up on Friday with Japan rising nearly three per cent ahead of an international meeting of finance chiefs expected to discuss the global financial crisis.... Gold prices steady LONDON, April 11: Gold steadied on Friday despite positive factors such as a weaker dollar and a rise in oil, and analysts said the market was looking for price triggers to break the current trading range.... Palm oil stays firm KUALA LUMPUR, April 11: Malaysian crude palm oil futures held steady on Friday, with investors torn between support from a looming vegoil supply squeeze and lacklustre demand from major consumers, India and China.... Karachi market rates KARACHI, April 11: The following were Friday commodity market rates in rupees....

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