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April 22, 2008 Tuesday Rabi-us-Sani 15, 1429 High oil prices here to stay, energy forum hears ROME, April 21: High oil prices are here to stay, but they cannot be blamed for the current global food crisis, an international forum heard on Monday.... US help in power sector sought ISLAMABAD, April 21: In a bid to support its sinking power sector, Pakistan has requested the US to use its influence by facilitating investment that could help utilise the country’s over 180 billion tons of coal deposits at Thar for power-generation.... FDI dips 21pc in nine months: Services sector gets lion share KARACHI, April 21: Foreign investment fell by 21 per cent in the last nine months, but the most important factor was the dominance of services sector which remained over 60 per... Core inflation up 9.5pc in March ISLAMABAD, April 21: Core inflation non-food and non-energy ballooned to 9.5 per cent in March, the highest in the past couple of years as against 5.3... Commercial activities in industrial areas thrive KARACHI, April 21: The setting up of commercial units in Site and Korangi industrial areas is gaining momentum as owners are either renting out their existing units or selling them out for trading activities.... PQA hires tugs, boats on ‘scrapped’ tender KARACHI, April 21: Ports and shipping experts have raised serious objection over the procedures adopted by the Port Qasim Authority (PQA) for hiring tugs and pilot boats.... Dollar under pressure LONDON, April 21: The dollar was back under pressure Monday as disappointing results from Bank of America raised fresh questions about the outlook for the US economy in the wake of the sub-prime home loan crisis.... Pakistan largest ADB borrower in 2007 ISLAMABAD, April 21: Pakistan was the largest borrower of Asian Development Bank in 2007 with $2 billion, or 20 per cent of the total loans the bank extended last year, says ADB’s annual report for 2007 released on Monday.... Five firms announce results Karachi, April 21: A few of the companies on Monday declared their financial results for the current reporting season.... Relief for carpet exporters KARACHI, April 21: The State Bank of Pakistan has decided to facilitate exporters of hand-knotted carpets by easing conditions for availing concessional loans under the Export Finance Scheme (EFS).... Stocks fail to sustain gains above 15,700-level KARACHI, April 21: The KSE 100-share index on Monday briefly crossed the barrier of 15,700 at 15,740 points but failed to sustain it and finished with a modest decline of 21.55... T-bills KARACHI, April 21: The State Bank said on Monday it would auction Rs53 billion worth of 3-, 6- and 12-month Treasury bills this week.... ECB warns of ‘uncertain’ outlook for food prices FRANKFURT, April 21: The European Central Bank is concerned about sharp food price increases which it said on Monday were hard to predict but would likely keep pushing higher.... Trading remains slow on cotton market KARACHI, April 21: Trading on the cotton market on Monday remained slow as ginners and spinners were locked in a price war but there was no blinking on the part of the former as was widely expected by the latter.... Karachi Port operations KARACHI, April 21: Eight ships carrying containers and to load cement and clinkers are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, April 21: Four ships carrying containers, coal, diesel oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Monday.... Britain unveils $100bn credit crunch package LONDON, April 21: The Bank of England unveiled a 100-billion-dollar plan on Monday to get Britain’s home loan market moving again in the latest attempt to combat the global credit crunch.... Solar silicon boom wanes LOS ANGELES/NEW YORK, April 21: The mad dash to build polysilicon plants for the solar industry is beginning to slow as prices for the raw material start to retreat from their 20-fold increase in recent years.... Karachi market rates KARACHI, April 21: The following were Monday commodity market rates in rupees.... Palm oil prices decline KUALA LUMPUR, April 21: Malaysian crude palm oil futures fell as much as 3.3 per cent on Monday to a one-week low as profit-taking spread through vegetable oil markets and data... Asian stocks close mostly up HONG KONG, April 21: Asian stocks closed mostly up on Monday despite near-record-high oil prices as hopes grew that the worst of the global financial crisis may be over.... Gold prices lower LONDON, April 21: Gold miners cut their hedging positions by 8 per cent to 26.86 million ounces in the fourth quarter of 2007 from the previous three months, with the full year decline setting a record of 14.34... ECB has room to cut lending rates FRANKFURT, April 21: The European Central Bank has room to cut its main lending rate later this year, a director of the International Monetary Fund said Monday....

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