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May 08, 2008 Thursday Jamadi-ul-Awwal 2, 1429 Growers condemn wheat import decision MULTAN, May 7: Growers of the southern Punjab have condemned the government decision to import wheat while harvesting and thrashing of the crop are still in progress.... $2.5bn inflow by June 30 may stabilise rupee KARACHI, May 7: The country expects an inflow of $2.5 billion by June 30, which will help stabilise rupee falling freely since the beginning of this year.... ‘Excessivesecurity’ for US envoy atMAP today KARACHI, May 7: Local corporate leaders and media persons are uncomfortable over what they consider ‘excessive security demands’ being made by US Consulate for American Ambassador Ms Anne W.... Arif Habib Securities to trade in Sri Lanka COLOMBO, May 7: Sri Lanka on Wednesday approved the first Pakistani brokerage and only foreign securities dealer to trade on the Colombo Stock Exchange, the securities watchdog said.... 6-month T-bill yield rises KARACHI, May 7: The cut-off yield on benchmark six-month Treasury bills rose at an auction on Wednesday to 9.9570 per cent from 9.8686 per cent previously, the State Bank of Pakistan said.... Early harvest pact with BD sought ISLAMABAD, May 7: Pakistan has urged Bangladesh to conclude an early harvest agreement, as a fast-track prelude to a free trade agreement.... Oil price improves record to $122.81 LONDON, May 7: The price of oil struck a record high $122.81 on Wednesday amid concerns over tight supplies, traders said.New York crude reached the new high beating Tuesday’s record of $122.73... WTO sees no meeting this month GENEVA, May 7: The World Trade Organisation said on Wednesday it is highly unlikely that a ministerial meeting will be held this month given the scant progress in talks on liberalising agriculture and other thorny issues.... Stocks break bearish spell with 46-point gain KARACH, May 7: Stocks on Wednesday recovered from the previous lows as a section of investors covered positions on selected counters under the lead of financial institutions but the rally appears... PM vows to develop dairy sector: Only 5pc of milk processed ISLAMABAD, May 7: Prime Minister Syed Yusuf Raza Gilani said on Wednesday that the government would provide all necessary resources to bring a white revolution in the country.... Apparel industry wants setting up of task force KARACHI, May 7: The textile apparel industry has urged the government to constitute a task force to determine issues and problems being confronted by the industry and then to suggest measures to ensure its viability and competitiveness in the world market.... Two local firms added to MSCI Index KARACHI, May 7: Two Pakistani companies, Pakistan Telecommunication Company Ltd (PTCL) and JS Capital, found their way into the MSCI Global Standard Index, which increased the weight of the country within the index by 2bps to 0.18... Draft law to be tabled in parliament: Demutualisation ISLAMABAD, May 7: The Securities and Exchange Commission of Pakistan (SECP) has started negotiations with stock markets to find ways to remove any legal barriers that may emerge once the draft Demutualisation Law is tabled in the parliament for approval.... Maybank, IDB plan Takaful business KUALA LUMPUR, May 7: Malaysia’s top lender Malayan Banking and the commercial arm of the Jeddah-based Islamic Development Bank plan to start a global Takaful (Islamic insurance business), the Malaysian bank said on Wednesday.... Cheerless trading on cotton market KARACHI, May 7: Physical activity on the cotton market on Wednesday was cheerless as buyers and sellers adhered to their respective positions on the price front.... ‘Canadians hoarding cash, not investing’ OTTAWA, May 7: Nervous Canadians are sitting on a record $45 billion in cash instead of investing it, fearing volatility in stock markets, a Canadian bank said on Wednesday.... India offers best growth openings MUMBAI, May 7: India offers one of most rewarding opportunities for growth in spite of recessionary conditions in the United States, wealth management group Merrill Lynch chief executive John Thain said on Wednesday.... Karachi Port operations KARACHI, May 7: Four ships carrying containers, tallow and rock phosphate are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, May 7: Five ships carrying containers, wheat, general cargo, chemical and iron ore and coal were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Singapore banks’ profit falls on global panic SINGAPORE, May 7: Two Singapore banks on Wednesday reported falls in first-quarter net profit as trading activities took a hit from global financial turmoil.... Dollar rises against euro LONDON, May 7: The dollar climbed strongly against the euro and yen on Wednesday, supported by hopes that the worst of the credit crunch is over and that the US economy will hold up better than expected, dealers said.... Allied Bank profit jumps to Rs2.4bn LAHORE, May 7: The operating profit of Allied Bank Limited increased to Rs2.4 billion for the first quarter of 2008 ended on March 31. This translates into a growth of 12 per cent over the corresponding period of last year.... CCP chief visits OICCI KARACHI, May 7: Competition Commission of Pakistan Chairman Khalid Mirza along with his team visited the Overseas Investors Chamber of Commerce & Industry, says a press release issued by the OICCI here on Wednesday.... Asian stocks close mixed HONG KONG, May 7: Asian stocks closed mixed on Wednesday after the oil price soared to a fresh all-time high, with the Chinese market tumbling more than four per cent on fears of surging share supply.... Palm oil prices lower KUALA LUMPUR, May 7: Malaysian crude palm oil futures fell nearly 1 per cent on Wednesday as rising supplies and a slowdown in buying weighed on the market, dealers said.... Gold weakens LONDON, May 7: Gold eased on Wednesday as a rise in the dollar against the euro lowered the metal’s appeal as an alternative investment, but strong oil prices limited declines.... Karachi market rates KARACHI, May 7: The following were Wednesday commodity market rates in rupees....

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