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April 26, 2008 Saturday Rabi-us-Sani 19, 1429 State Bank acts to stabilise rupee KARACHI, April 25: Weightlessness of rupee finally invoked the heavy hand of the central bank which tightened rope around the currency dealers with strict conditions and promised to provide dollars for stabilising the rupee-dollar parity in the open market.... China tightens business visa rules KARACHI, April 25: China has tightened business visa rules for security reasons ahead of Olympics and according to importers and traders it has suspended issuing visas to businessmen till September 2008.... Dollar rally pauses LONDON, April 25: A dollar rally against the euro on Friday lost momentum in late trade as investors took profits ahead of the weekend but analysts said more gains could come... Eurozone money supply falls sharply FRANKFURT, April 25: Eurozone money supply growth, a leading indicator of inflation, slowed sharply in March, provisional data from the European Central Bank showed on Friday.... Stock market stages snap recovery KARACHI, April 25: Stocks were back on the rails and staged a strong snap recovery on Friday, allying fears of an extended bearish week, apparently on the strength of higher corporate earnings, notably from the Mansha group of companies, analysts said.... PQA takes up scrapped tender issue today KARACHI, April 25: The board of Port Qasim Authority (PQA) in its meeting on Saturday will take up the issue of hiring of one tug and a pilot boat, official sources said on Friday.... Japan pledges more aid, investment ISLAMABAD, April 25: Japan has assured to increase investment and further raise the level of its annual assistance to Pakistan.... TCP fails to take action against wheat suppliers MULTAN, April 25: The Trading Corporation of Pakistan has failed to take action against defaulting suppliers for delayed delivery of imported wheat.... New NIT chief takes charge for 3 months KARACHI, April 25: Mr Muhammad Nawaz Tishna took over the charge of chairman/managing director of National Investment Trust (NIT) on Friday, following a notification by the Finance Division of the government.A... MCB Bank earnings jump 11pc KARACHI, Apirl 25: MCB Bank announced on Friday that its first quarter (January-March) earnings grew by 11 per cent to Rs4.1 billion as compared to Rs3.7... JSIL profit up 52pc KARACHI, April 25: JS Investments Limited or JSIL (formerly JS Abamco Limited) which holds Rs43 billion worth of assets under management, has reported an operating profit of Rs504.55... Oil prices move higher LONDON, April 25: Oil prices climbed towards this week’s record peaks on Friday as traders fretted over threats to global energy supplies in Britain and Nigeria, analysts said.... More queries received at German fair RAWALPINDI, April 25: The Pakistan Pavilion at the ‘Hannover Messe’ — a leading technology exhibition in Germany — concluded on Friday.... Cotton prices revised upward by Rs50 KARACHI, April 25: Cotton prices on the Karachi Cotton Exchange on Friday were revised upward by Rs50 per maund for an average quality, but spinners did not show any reaction and kept to the sidelines.... Landhi industrial area suffers from poor roads KARACHI, April 25: The infrastructure in the Landhi industrial area is in a miserable state, and particularly the road network is not motorable due to heavy excavations carried out over the last two years for laying sewerage and water lines.... British economic growth contracts LONDON, April 25: Britain’s economy got off to a poor start to 2008, as official data showed on Friday that first-quarter growth stumbled to a three-year low amid a housing market slowdown and the global credit crunch.... Karachi Port operations KARACHI, April 25: Ten ships including three cement loaders are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, April 25: Two ships carrying containers and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Friday.... Indian inflation hits 3-year high NEW DELHI, April 25: India’s annual inflation rate jumped to a more than three-year high on Friday, piling pressure on central bankers to keep a hawkish stance at a key policy meeting next week.... Walk today KARACHI, April 25: Ali and Associates has arranged a walk on Saturday to mark the World Intellectual Property Day in order to create awareness about the intellectual property right.... TCP fails to take action shipment, and the prime minister had extended the date for shipment, so there was no justification of forfeiture of performance bond.... Gold prices steady LONDON, April 25: Gold steadied after hitting three-week lows on Friday as the dollar cut early gains against the euro and oil prices rose after slipping, analysts said.... Asian stocks close mostly down HONG KONG, April 25: Asian stocks closed mostly down on Friday but Japan bucked the trend by rising more than two per cent, aided by slightly better news about the struggling US economy.... Palm oil futures fall KUALA LUMPUR, April 25: Malaysian crude palm oil futures fell 1.2 pc on Friday as dismal export data from cargo surveyors heightened fears of a slowdown in demand amid worries of a possible cut in Indonesian export taxes.... Karachi market rates KARACHI, April 25: The following were Friday commodity market rates in rupees....

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