DAWN - Business; May 01, 2008

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May 01, 2008	Thursday	Rabi-us-Sani 24, 1429

FBR collects Rs755bn, may miss target ISLAMABAD, April 30: The Federal Board of Revenue (FBR) has collected Rs755 billion during the first 10 months (July-April) of the current fiscal year raising fears of missing the downward revised target of Rs990 billion for 2007-08....		Judicial crisis mars business activities KARACHI, April 30: The business community has expressed sense of despair over the lingering political uncertainty even after the formation of the new coalition government. They regretted the fact that the...

Sindh’s PF, pension liabilities increase KARACHI, April 30 The Sindh government would have at its disposal an accumulated amount of Rs25 billion by June next to offset the mounting burden of liabilities of the provident fund...		UAE to set up refinery, bank ISLAMABAD, April 30: The United Arab Emirates will set up an oil refinery in Pakistan and would further invest by participating in privatisation of public sector entities....

FA to be appointed for Kapco divestment ISLAMABAD, April 30: The reconstituted Board of the Privatisation Commission has given green signal for the appointment of financial adviser (FA) for the divestment of Kot Addu Power Company (Kapco) shares...		Oil prices plunge as US stocks climb LONDON, April 30: Oil prices tumbled lower on Wednesday as traders reacted to buoyant US crude inventories and awaited an interest rate decision from the Federal Reserve, analysts said....

Undertakings sought from two fertiliser firms: Transparent business practices ISLAMABAD, April 30: The Competition Commission of Pakistan (CCP) on Tuesday directed the Fauji Fertiliser Company Limited (FFC) and Fauji Fertiliser Bin Qasim Limited (FFBL) to submit undertakings within three weeks,...		Balochistan wants overdraft converted into soft loan QUETTA, April 30: The Balochistan government has requested the State Bank of Pakistan to convert its overdraft into a soft loan to overcome the financial crisis being faced by the province.The...

Rupee extends losses KARACHI, April 30: The rupee eased against the dollar on Wednesday, as dealers forecast further weakness because of the prevailing high demand from importers....		SBP chief gets award KARACHI, April 30: Senior Editor, The Banker Magazine, Ms Karina Robinson presented the ‘Central Bank Governor of the Year in Asia 2008 Award’ to State Bank of Pakistan Governor Dr Shamshad...

Stocks suffer fresh widespread fall KARACHI, April 30: Stocks posted a fresh widespread fall on Wednesday on hasty selling by all and sundry on the perception that the deadlock on judges issue between the PPP and PLM-N could again lead to political uncertainty....		Fed cuts key rate WASHINGTON, April 30: The Federal Reserve on Wednesday cut its federal funds rate by a quarter point to 2.0 per cent in the latest in a series of moves to fire up a lagging US economy....

T-bills sold KARACHI, April 30: The State Bank of Pakistan sold Rs8.5 billion of Treasury bills on Wednesday under three-day repo contracts at 8.8 per cent to mop up funds from the money market.—Reuters...		Clarification KARACHI, April 30: The Port Qasim Authority clarified on Wednesday that the PQA board members had offered resignations on the plea that it is the prerogative of the new government to...

Trading remains slow on cotton market KARACHI, April 30: Physical activity on the cotton market on Wednesday remained slow as spinners lifted only those lots, which conformed to their export parity levels and were of good quality, floor brokers said....		Karachi Port operations KARACHI, April 30: Four ships carrying DAP fertiliser, chemicals and containers are due to arrive at the outer anchorage on Thursday, according to KPT sources....

Port Qasim KARACHI, April 30: Two ships carrying containers and canola seeds were accommodated berths during the last 24 hours, said a PQA press release on Wednesday....		DTO rejects new FCCI renewal fee rates FAISALABAD, April 30: The government has barred the Faisalabad Chamber of Commerce and Industry (FCCI) from charging renewals fee according to a new schedule approved by the general body, sources told Dawn on Wednesday....

Asian stocks close mostly down HONG KONG, April 30: Asian stocks closed mostly down on Wednesday ahead of an expected cut in US borrowing costs, but China surged nearly five per cent fuelled by optimism over corporate earnings....		Gold dips in London LONDON, April 30: Gold fell to a three-month low on Wednesday as investors squared positions and took profits ahead of a decision on U.S. interest rates by the Federal Reserve later in the day....

Malaysian palm oil rises KUALA LUMPUR, April 30: Malaysian crude palm oil futures rose 1.4 per cent on Wednesday, after diving to a near three-week low, on higher vegetable oils and short-covering before a holiday....