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April 25, 2008 Friday Rabi-us-Sani 18, 1429 Adamjee Ins books claims of Rs1.4bn KARACHI, April 24: Adamjee Insurance booked claims in the staggering sum of Rs1.4bn during the first quarter (Jan-March) of 2008.... Investment pact with Germany by year-end LAHORE, April 24: German Commercial Attaché Patrick Heinz has said that the final decision on bilateral investment protection agreement with Pakistan is expected by the end of this year.... Cheaper rupee to push food prices further up KARACHI, April 24: Consumers already groaning under rising food inflation would further suffer as the falling rupee against the dollar will push up the prices of imported food items to new highs.... Bureau revived to check prices KARACHI, April 24: The Sindh government has revived the Bureau of Supply and Prices to check the ever-increasing prices of essential commodities, such as milk, meat, ghee, flour, fruits and vegetable, and poultry, etc.... Rupee hits new low vs dollar KARACHI, April 24: The rupee ended at a record closing low on Thursday, breaching a previous low set days after Pakistan was pitched into the centre of a global storm by Al Qaeda’s attacks on the United States in September 2001.... ‘Thar coal only answer to energy crisis’ KARACHI, April 24: Experts at a seminar on Thursday expressed concern over very low power generation during the last nine years, and emphasised that huge deposits of Thar coal are the only answer to energy crisis in the country.... State Bank to ensure adequate financing: Wheat procurement KARACHI, April 24: The State Bank of Pakistan has dispelled the impression created by certain quarters that its recent decision to restrict bank financing to functional flour mills only may deprive the farmers in getting appropriate price for their wheat.... Brazil halts rice exports BRASILIA, April 24: Brazil has temporarily halted its exports of rice to deal with a sharp price increase that is hitting domestic consumers hard, officials said.... Concern over falling foreign investment KARACHI, April 24: Acting President of Federation of Pakistan Chambers of Commerce and Industry Muhammad Farooq Dadabhoy has expressed concern over the drastic decline in foreign investment in Pakistan.... Small traders seek PSM dealership LAHORE, April 24: The All Pakistan Cottage Industry and Small Traders Welfare Association urged the government on Thursday to give dealership of Pakistan Steel Mills products to small traders.... Oil prices slip LONDON, April 24: Oil prices fell on Thursday as traders took profits after this week’s record-breaking run on the back of the strengthening dollar and rising US crude stockpiles.... Dollar gains LONDON, April 24: The dollar gained on the euro Thursday on speculation the US Federal Reserve might soon call a halt to interest rate cuts and following a disappointing report on German business confidence.... Reserves dip KARACHI, April 24: The country’s foreign exchange reserves fell by $392 million to $12.652 billion in the week that ended on April 19, the State Bank of Pakistan said on Thursday.... Stock market suffers widespread decline KARACHI, April 24: The share market on Thursday showed fresh widespread decline on hasty selling by most of the investors thriving on the leveraged money after an alarm bell rang for the rollover positions on the forward counter.... Thai expo begins today KARACHI, April 24: The Thailand Exhibition, 2008, will be organised at a local hotel from April 25 to 27.... Cotton market lacks normal trading zeal KARACHI, April 24: Cotton market on Thursday lacked normal trading interest as price ideas of sellers and buyers failed to find a meeting ground.... Karachi Port operations KARACHI, April 24: Six ships carrying chemicals, containers and to load cement are due to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, April 24: Five ships carrying containers, wheat, palm oil, furnace oil and chemicals were berthed during the last 24 hours, said a PQA press release on Thursday.... Alitalia rescue plan hits EU turbulence BRUSSELS, April 24: The European Commission voiced concern on Thursday about Italian plans for a bailout of Alitalia, raising the prospect that EU regulators might block a vital state loan to the ailing airline.... Platinum to hit new peaks LONDON, April 24: The price of platinum will set more record highs in 2008 on the back of flagging output in South Africa, the independent precious metals consultancy GFMS forecast on Thursday.... Nafa’s interim bonus KARACHI, April 24: National Fullerton Asset Management Limited (Nafa) has announced interim distribution on its four funds for Jan-March 2008, says a press release issued here on Thursday.... Gems expo KARACHI, April 24: Pakistan Gems and Jewellery Development Company is planning to organise single country Gems and Jewellery Exhibition in Houston in collaboration with Pakistan Chamber of Commerce, USA.... Karachi market rates KARACHI, April 24: The following were Thursday commodity market rates in rupees.... Asian stocks close mixed HONG KONG, April 24: Asian stocks closed mixed on Thursday but China shone as the Shanghai market rocketed nearly 10 per cent after the government slashed stamp duty to shore up share prices.... Palm oil futures fall KUALA LUMPUR, April 24: Malaysian crude palm oil futures fell 2.5 per cent on Thursday on expectations Indonesia would slash its export tax on the vegetable oil amid growing fears demand was struggling to gain momentum.... US new home sales fall to 16-year low WASHINGTON, April 24: Sales of new US homes plunged to their lowest level in over 16 years in March despite hefty home price declines in response to a glut of unsold homes, Commerce Department data showed on Thursday....

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