DAWN - Business; April 29, 2008

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April 29, 2008	Tuesday	Rabi-us-Sani 22, 1429

Toyota to acquire 9.8m more shares in Indus Motors KARACHI, April 28: Toyota Motor Corporation of Japan announced its decision to acquire an additional 9.83 million shares in Pakistan’s Indus Motor Company by taking over stock from overseas investors and general public at the purchase price of Rs370 per share....		NIP plans more clusters to expand auto industry KARACHI, April 28: The National Industrial Park and Development Company (NIP) has planned more auto clusters in the country....

14,235 cars fetch Rs4.811bn duty KARACHI, April 28: The customs authorities collected Rs4.811 billion towards duty on 14,235 vehicles of various categories, including luxurious cars, imported during the first nine months (July-March) of the current fiscal year....		Stakeholders to be consulted, says minister: New trade policy ISLAMABAD, April 28: Federal Minister for Commerce Shahid Khaqan Abbasi said here on Monday that all stakeholders would be consulted before framing the new trade policy....

Escap shows concern over rising food prices RAWALPINDI, April 28: The Asia and Pacific region is facing daunting challenges in achieving the Millennium Development Goals (MDGs) as the rapidly rising food prices in several countries of the region...		Politics of steel grips BoP KARACHI, April 28: A big loan to a steel competitor is the real reason for the sudden dissolution of board of directors of the Bank of Punjab and removal of its president, well-informed sources said on Monday....

CCP moves to check cement cartel ISLAMABAD, April 28: Cement prices are likely to increase by Rs15 to Rs20 per bag in sympathy with the increase in petroleum prices, Dawn learnt on Monday....		Stocks gain 44 points on higher dividends KARACHI, April 28: Stocks finished on Monday with an extended gain on active follow-up support aided partly by higher dividend and partly by active foreign buying in the leading oil shares,...

US accounts for 27.7pc of July-March remittances WASHINGTON, April 28: The United States continues to be the largest source of workers’ remittances accounting for 27.7 per cent of the total of almost $4,728.3...		OGDCL profit up 4.7pc KARACHI, April 28: Oil and Gas Development Co Ltd (OGDCL) on Monday reported a 4.7 per cent rise in earnings for the first nine months (July-March) of 2007-08, thanks to strong volumes and better prices....

Tax rebates WASHINGTON, April 28: The US government began giving out tax rebates on Monday in hopes the instant cash will spark consumer spending to revive an economy many analysts believe is in recession....		Oil hovers near $120 on supply problems LONDON, April 28: Oil hit a fresh peak near $120 a barrel on Monday as worker strikes in Nigeria and Britain shut down a big chunk of crude production, further tightening global supply....

Rupee ends lower KARACHI, April 28: The rupee ended lower on Monday, but remained under pressure from sustained high dollar demand, dealers said, adding that there was speculation that the central bank will increase interest rates soon....		China losing charm for US investors BEIJING, April 28: China is losing some of its attractiveness to foreign investors as rising costs are forcing some US manufacturing firms to leave the country, the American Chamber of Commerce (AmCham) said on Monday....

India faces inflation, slow economy NEW DELHI, April 28: India’s central bank faces a tough dilemma this week as it decides whether to ramp up its inflation fight amid warnings that too harsh credit conditions could damage an already slowing economy....		French govt maintains growth forecast PARIS, April 28: The French government said on Monday it was maintaining its 2008 and 2009 growth and public deficit forecasts, which are much more optimistic than those of the European Union....

Karachi Port operations KARACHI, April 28: Eight ships carrying containers and a rice loader to load 25,000 tons of the commodity are expected to arrive at the outer anchorage on Monday, according to KPT sources....		Euro rises vs dollar LONDON, April 28: The euro edged higher against the dollar in late trade here on Monday, regaining some ground lost earlier on expectations the US Federal Reserve is about to signal an end to its rate-cutting cycle....

Port Qasim KARACHI, April 28: Two ships carrying containers and palm oil were accommodated berths during the last 24 hours, said a PQA press release on Monday....		Progas test KARACHI, April 28: Progas Pakistan Limited has tested compression and pumping facilities for exporting LPG during the recent visit of MV Rio Garcia, an LPG carrier at the Progas LPG Terminal....

Telecon KARACHI, April 28: The two-day telecommunication congress, TeleCON2008, is starting here on Tuesday, says a press release....		Walk held KARACHI, April 28: A walk to mark the World Intellectual Property Day was held here on Saturday....

Cotton market remains firm KARACHI, April 28: Cotton market maintained a firm trend on Monday as leading spinners resumed their normal covering operations amid fears that prices are heading towards new peak levels....		Karachi market rates KARACHI, April 28: The following were Monday commodity market rates in rupees....

Asian stocks close mostly higher HONG KONG, April 28: Asian stocks closed mostly higher on Monday, buoyed by optimism ahead of an expected US interest rate cut later in the week and the belief that the worst leg of the global financial crisis has passed....		Gold gains on record high oil LONDON, April 28: Gold rose on Monday as oil roared to a record high near $120 a barrel, but investors were cautious ahead of this week’s meeting of the US Federal Reserve on interest rates....

Palm oil prices up JAKARTA, April 28: Indonesian palm oil prices rose on Monday, lifted by Malaysian crude palm oil futures and demand from local refiners....		EU ratchets up inflation forecast to 3.2pc BRUSSELS, April 28: The European Commission hiked on Monday its 2008 inflation forecast to 3.2 per cent from 2.6 previously in the face of record oil and food prices but predicted that growth would suffer only slightly....