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| May 23, 2008 | Friday | Jamadi-ul-Awwal 17, 1429 |
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Plan to float GDRs, bonds dropped
LAHORE, May 22: The government has finally dropped its plan to rake up debt of around $2 billion before the end of this fiscal year from the global financial markets by... 
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Move to tackle bad construction practices
LONDON, May 22: A global partnership scheme to tackle corruption in the construction industry aimed at saving billions of dollars of taxpayers’ dollars per year and millions from shoddy and unsafe infrastructure was launched on Thursday...
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Stocks plunge on exposure problems
KARACH, May 22: Stocks on Thursday suffered a sharp fall on panic selling triggered by reports of margin calls owing to over-exposure problems in which some investors were trapped and faced a possible default....
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Oil eases after rising above $135
NEW YORK, May 22: Oil prices pulled back from a record $135 a barrel on Thursday as dealers took profits from a dazzling rally and a recovering US dollar dampened all commodities markets....
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‘Opec Unhappy with price surge’
QUITO, May 22: Opec chief Abdala El Badri on Thursday said members were unhappy with surging prices he blamed on speculators and a weak US dollar....
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CCoP to approve HBL block sale today
ISLAMABAD, May 22: The Cabinet Committee on Privatisation (CCoP) will meet here on Friday under the chairmanship of the prime minister to approve the block sale of Habib Bank Limited (HBL)....
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India rejects new WTO texts: Industrial goods
NEW DELHI, May 22: New draft texts on industrial goods aimed at clinching an elusive deal in global trade talks will have to be “completely revised,” India’s commerce minister said on Thursday....
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Water flow to Sindh canals may improve
KARACHI, May 22: Water flow to major Sindh canals may improve after a week as water discharge in Tarbela and other dams increased by 20,000 cusecs this week, sources at the irrigation department said on Thursday....
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Dollar moves higher
LONDON, May 22: The dollar moved higher against the euro on Thursday on news that eurozone industrial orders fell in March and as the US Federal Reserve signalled a pause in its rate-cutting cycle....
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SECP inks accord with MCB Bank
ISLAMABAD, May 22: The Securities and Exchange Commission of Pakistan (SECP) has signed an agreement with the MCB Bank for payment collection services....
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Wheat import Tender withdrawn
KARACHI, May 22: The Trading Corporation of Pakistan said on Thursday it had withdrawn a tender to import 75,000 metric tons of white wheat issued last week while increasing by the same quantity the amount sought in another tender....
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Transfers of tax officials banned till June 30
ISLAMABAD, May 22: The government has imposed ban on posting and transfers of tax officials till June 30 in the wake of preparations for the budget 2008-09....
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Basmati growers plea accepted
LAHORE, May 22: The Basmati Growers Association’s plea for registration of Basmati as a geographical indication has been accepted by the Registrar of Trade Marks....
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Reserves fall
KARACHI, May 22: The foreign exchange reserves fell by $322 million to $11.885 billion in the week ended on May 17, the central bank said on Thursday....
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New CCBL chief
KARACHI, May 22: Sajjad Razvi, Chairman, Board of Directors of Crescent Commercial Bank Limited (CCBL), has announced the appointment of Tawfiq A Husain as new President and CEO of CCBL, a subsidiary of Samba Financial Group (Samba) of Saudi Arabia....
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Karachi Port operations
KARACHI, May 22: Six ships carrying containers, general cargo and coal are expected to arrive at the outer anchorage on Friday, according to KPT sources....
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Port Qasim
KARACHI, May 22: Three ships carrying containers and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Thursday....
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Cotton market remains firm
KARACHI, May 22: Cotton market on Thursday maintained a firm trend as both spinners and ginners remained locked in price war but the latter were in a commanding position owing to a modest unsold stock of lint held by them....
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Company news
KARACHI, May 22: Teradata has conferred the nationally acclaimed 8th Teradata IT Award for Excellence in Business Intelligence to Atif Ahmad, Director Strategy, Innovation and Budgeting, Mobilink Pakistan....
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Asian stocks close mostly down
HONG KONG, May 22: Asian stocks closed mostly down on Thursday as crude oil rocketed past $135 per barrel for the first time, stoking concerns that rising prices will hit consumers and squeeze business profits....
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Gold drops on profit-taking
LONDON, May 22: Gold dropped on Thursday as investors booked profits after pushing up the price to its highest level in more than a month above $930, but more gains may be in store with oil hitting another record....
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Malaysian palm oil rises
BANGKOK, May 22: Malaysian crude palm oil futures ended 1.4 per cent higher on Thursday, supported by record crude oil prices....
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Karachi market rates
KARACHI, May 22: The following were Thursday commodity market rates in rupees....
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