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April 18, 2008 Friday Rabi-us-Sani 11, 1429 Oil price climbs to record high of $115.5 LONDON, April 17: The price of New York oil hit a record high $115.54 per barrel on Thursday, boosted by falling US energy reserves and a weak dollar, which attracts investors into commodities, analysts said.... Inter-bank, market rates gulf widens KARACHI, April 17: For the first time after five years, attraction for the US dollar has widened gulf between inter-bank and open market rates to Re1 per dollar, a dangerous trend... Dollar falls to new low against euro LONDON, April 17: The dollar fell to a new record trough against the euro here on Thursday on diminishing prospects for a cut in eurozone interest rates before regaining some lost ground on euro profit-taking.... Sindh to have centralised automated tax system KARACHI, April 17: Tax rates will not be raised as new government believes in providing relief to taxpayers through facilitation.... SBP buys Rs21.8bn of T-bills KARACHI, April 17: The State Bank of Pakistan bought back Rs21.80 billion of Treasury bills on Thursday at 10 per cent under two-day reverse-repo contracts to inject liquidity into a tight money market.—Reuters... Forex reserves KARACHI, April 17: The total liquid foreign exchange reserves held by the country stood at $13,044.1 million on April 12.... Consortium to develop Kalabagh iron ore deposits RAWALPINDI, April 17: A consortium of eight local steel manufacturers has offered to develop iron ore deposits of Kalabagh and establish a steel mill of one million ton per annum capacity.... ADB offers $800m for water, power projects ISLAMABAD, April 17: The Asian Development Bank offered investment to the extent of $800 million on Thursday in water and power sectors in the coming years. ... Separate policies urged for textile sub-sectors LAHORE, April 17: The value-added textile exporters want the federal government to formulate separate policies for various sub-sectors of the textile industry in order to resolve their sector-specific issues and problems.... Stocks remain bullish on strong corporate earnings KARACHI, April 17: The stock market on Thursday remained in a bullish frame of mind as investors were not inclined to take a bearish view of the unfolding economic scenario partly... India ramps up inflation fight NEW DELHI, April 17: India’s central bank ramped up its fight against inflation on Thursday, moving to cool demand by reducing money available for commercial loans, while leaving short-term borrowing rates unchanged.... FPCCI calls for steps to avert food shortage KARACHI, April 17: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed serious concern over the World Food Programme (WFP) report on food shortage in developing countries, including Pakistan.... NTC to expand IP services circle KARACHI, April 17: The National TelecommunicationCorporation (NTC) has signed an IP Core Network Rollout Contract to expand its current IP services circle from three to 21 cities across the country.... Fine lint prices soar to Rs3,600 KARACHI, April 17: Prices of fine lint soared to Rs3,600 per maund on the cotton market on Thursday as a leading spinner group tried to grab the floating stock, apparently fearing further pressure on supplies.... G8 business chiefs spar over climate measures TOKYO, April 17: World business chiefs gathered here on Thursday to discuss ways to tackle global warming as trans-Atlantic tensions emerged over how far industry should go to reduce emissions.... Nokia posts strong results HELSINKI, April 17: Nokia, the world’s leading mobile phone maker, on Thursday posted strong first quarter results but saw its market share slip and missed market forecasts, sending its share price tumbling.... Karachi Port operations KARACHI, April 17: Eight ships carrying containers and crude oil are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, April 17: Shipping activity remained brisk at the port where four ships scheduled to load, unload containers, rice, palm oil and diesel were berthed at Qasim International Container Terminal, Multipurpose Terminal and Fotco oil terminal, respectively, on Wednesday.... Nokia regional office KARACHI, April 17: Nokia, the global leader in mobile communications, formally inaugurated its regional office in Karachi on Thursday.... Gold hits 3-week peak above $950 LONDON, April 17: Gold climbed to a three-week high above $950 an ounce on Thursday on record high oil prices and a struggling dollar, but the bullion market needed an extra push to move substantially higher, analysts said.... Asian stocks close mostly up HONG KONG, April 17: Asian stocks closed mostly up on Thursday after a Wall Street rally triggered by lifting gloom about US corporate profits and as resources shares rallied on another record for oil prices.... Palm oil prices lower KUALA LUMPUR, April 17: Malaysian crude palm oil futures fell from three-week high on Thursday as investors booked profit following a surge in supplies due to higher output.... Karachi market rates KARACHI, April 17: The following were Thursday commodity market rates in rupees....

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