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May 28, 2008 Wednesday Jamadi-ul-Awwal 22, 1429 Bike prices Raised further KARACHI, May 27: Japanese and Chinese bike assemblers have further increased the prices in the wake of losing strength of the rupee against various currencies coupled with rising rates of sheet metal and other parts.... Exporters urged to take benefit of global inflation FAISALABAD, May 27: President of Habib Bank Ltd Zakir Mehmood has said that the local industry was in a better position to compete in the international market as production cost has increased by 30 per cent in China and India.... Venezuelans shielded from rising gas prices CARACAS, May 27: Rising oil prices are causing grief to motorists across the world, except in Venezuela, where domestic supply and state subsidies mean filling up the tank costs less than a bottle of mineral water.... IMF names Blanchard chief economist WASHINGTON, May 27: International Monetary Fund chief Dominique Strauss-Kahn on Tuesday named a new chief economist and three others to top directors position.... Call for tax cut as fuel protests spread in Europe PARIS, May 27: French President Nicolas Sarkozy on Tuesday called for a cut in European oil taxes to help consumers as fishermen and truck drivers across the continent staged protests against soaring prices.... Oil prices sink LONDON, May 27: Oil prices tumbled further from recent record peaks on Tuesday as traders took profits amid growing fears about energy demand from key consumer the United States, analysts said.... Rupee weaker KARACHI, May 27: The rupee was marginally weaker on Tuesday but dealers said they expected it to remain stable in the short-term on fresh inflows in coming days.... Stocks recover on waiver of CFS limit KARACHI, May 27: After a massive fall during the last three sessions, stocks on Tuesday staged a partial rally on strong short-covering at the lower levels after the State Bank deferred... Traders seek subsidy on wheat import KARACHI, May 27: The Wheat Traders Association of Pakistan has urged the government to allow subsidy on import of wheat to make it viable.... Health ministry moves to maintain drug prices ISLAMABAD, May 27: The Ministry of Health has requested the Federal Board of Revenue (FBR) to withdraw custom duties and sales tax on raw and packing material used for pharmaceuticals to maintain drug prices in the country.... EU farm chief outlines reform policy BRDO (Slovenia), May 27: Europe’s farm chief outlined her vision for future agricultural policy until 2013 to EU ministers on Tuesday, hinting at some leeway to compromise but also asking countries to be constructive towards reform.... Income Tax Bar to cooperate with Smeda KARACHI, May 26: Small and Medium Enterprises Development Authority (Smeda) and Income Tax Bar Association Karachi (ITBAK) on Tuesday signed a memorandum of understanding (MoU) to cooperate in compliance of tax laws applicable to the SMEs.... Corporate events attracting investors KARACHI, May 27: Regardless of the market downturn, which appeared to have bottomed out with a recovery of 237.47 points in the KSE-100 index on Tuesday, happenings on the corporate sector continue to attract investor attention.... US team visits KSE KARACHI, May 27: A US delegation led by Senator Robert Casey Jr, Consul General Kay Anske and their aides visited the Karachi Stock Exchange on Tuesday, a KSE press release said.... Bursa Malaysia offers cooperation ISLAMABAD, May 27: The Bursa Malaysia has agreed to forge cooperation in areas like Islamic corporate market, information sharing and dual-listing.... US consumer confidence hits 16-year low WASHINGTON, May 27: US consumer confidence plunged to a 16-year low in May amid a stuttering economy and as surging oil prices pushed inflation expectations to an all-time high, The Conference Board reported on Tuesday.... WTO to hold meeting next month GENEVA, May 27: The World Trade Organisation said on Tuesday that ministers will hold an informal meeting on the Doha liberalisation talks in Paris next month.... Taiwan hikes fuel prices TAIPEI, May 27: Taiwan’s premier unexpectedly announced on Tuesday fuel price hikes of up to 16 per cent by the island’s key state-owned petrol firm to combat hoarders, as Asia grapples with soaring crude prices.... Dairy farms RAHIM YAR KHAN, May 27: Kissan Day was observed here on Tuesday under the aegis of Pakistan Dairy Development Company (PDDC).... Karachi Port operations KARACHI, May 27: Eight ships including three cement loaders to load 51,000 tons of cement and clinkers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, May 27: Two ships carrying palm oil and crude oil arrived at the outer anchorage during the last 24 hours, said a PQA press release on Tuesday.... New home sales rise in US WASHINGTON, May 27: Sales of new homes across the United States rose an unexpected 3.3 per cent in April from the prior month, to a seasonally adjusted annual pace of 526,000 homes, a government report showed on Tuesday.... Supply, demand factors dominate cotton trading KARACHI, May 27: Supply and demand factors dominated trading on the cotton market on Tuesday as ginners held on to their unsold positions and did not lower their asking prices despite reports of higher imports.... Germany teases EC with new VW draft law FRANKFURT, May 27: Germany has decided to back a new bill that would retain state influence over Europe’s biggest car maker, Volkswagen, despite staunch opposition from the European Commission.... Industry automation software ISLAMABAD, May 27: Autoplus software, developed under Pakistan Software Export Board’s industry automation programme, was operated successfully at a private manufacturing concern on Tuesday, said a PSEB spokesman on Tuesday.... Dollar gains despite weak US data LONDON, May 27: The dollar held on to early gains against the euro here on Tuesday, drawing strength from lower oil prices and as the market shrugged off a weak reading on US consumer confidence.... Roadshow KARACHI, May 27: The Central Depository Company (CDC), in collaboration with the Securities Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (KSE), is organising an investment and capital market roadshow in Gujranwala on Saturday.... Treasury bills KARACHI, May 27: The SBP bought back Rs18.3bn of Treasury bills on Tuesday under 4-day reverse-repo contracts at 11.2 per cent to inject liquidity into a tight money market.—Reuters... Asian shares up on bargain hunting HONG KONG, May 27: Asian shares closed mostly up on Tuesday as investors hunted for bargains in the wake of steep falls triggered by worries about soaring oil prices and rising inflation.... Palm oil futures gain 1.6pc KUALA LUMPUR, May 27: Malaysian crude palm oil futures rose 1.6 per cent on Tuesday, extending five days of gains as soyoil markets started to rally on a mix of weather concerns and strong crude oil prices....

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