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| May 30, 2008 | Friday | Jamadi-ul-Awwal 24, 1429 |
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Govt to float bond to raise Rs300bn: Budgetary support
ISLAMABAD, May 29: The government has decided to float a new short-term bond to raise up to Rs300 billion for budgetary support in the next financial year.... 
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‘No decision yet to levy capital gains tax’
ISLAMABAD, May 29: Finance Minister Syed Naveed Qamar assured investors on Thursday that the government would continue to pursue its investor-friendly policies and it was determined to correct the macro-economic imbalances for the prosperity of the country....
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Oil prices plunge in volatile trading
LONDON, May 29: Oil prices fell sharply in volatile trade on Thursday after getting an initial boost on news of plunging energy stockpiles in key consumer the United States....
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Reserves fall to $11.512bn
KARACHI, May 29: Pakistan’s foreign reserves fell by $373 million to $11.512 billion in the week that ended on May 24, the central bank said on Thursday....
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Stocks recover from massive fall, lose 19.93 points
KARACHI, May 29: The Karachi Stock Exchange (KSE) 100-share index recouped a good part of initial losses on Thursday as some of the leading financial institutions moved in and launched a...
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Oil paint production suspended in Punjab: Acute shortage of kerosene
KARACHI, May 29: Around 125 paint manufacturers out of 300 in Punjab have suspended production of oil paints owing to severe shortage of kerosene....
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R&D subsidy for fruit, vegetable exports sought
ISLAMABAD, May 29: The All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association has submitted proposals to the finance ministry for 2008-09 budget....
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Number of cell phone users jumps to 85m
ISLAMABAD, May 29: The number of mobile phone users in Pakistan has increased phenomenally and this figure is expanding by almost one million every month....
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JS Global to begin online trading
KARACHI, May 29: JS Global Capital has finalised an agreement with Mubasher of Dubai, by virtue of which JS Global clients would have access to online trading options on the Karachi...
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WB assures support to Thar coal power plant
KARACHI, May 29: The World Bank has assured support both financial and technical for the proposed 1,000MW power plant based on Thar coal to be set up as public private joint venture....
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New SLIC chief
KARACHI, May 29: Ejaz Ahmad, executive director, State Life Insurance Corporation of Pakistan (SLIC), has been named new SLIC chairman. He replaces Kamal Afsar whose appointment contract has expired, says a press release.—Staff...
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Rice prices hit 2-month low
NEW YORK, May 29: Rice prices retreated further on Wednesday, hitting a two-month low on expectations that easing export bans in Asia and a robust crop in Vietnam will boost supplies of the staple food consumed by half the world’s population....
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LPG prices raised by Rs3 per kg
KARACHI, May 29: LPG Distributors Association Pakistan chairman Abdul Hadi Khan has said that after a gap of only five days marketing companies in connivance with the producers have raised the prices of liquefied petroleum gas by Rs3 per kg....
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Rules for PIFFA Members approved
KARACHI, May 29: The Ministry of Commerce has approved the accreditation rules framework for member bodies of Pakistan International Freight Forwarders Association (PIFFA)....
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Bear Stearns partners okay sale to JPMorgan
NEW YORK, May 29: Bear Stearns, the most high-profile victim of the US subprime property crisis, approved a deal on Thursday to sell itself to banking giant JPMorgan Chase, a spokeswoman for the Wall Street firm said....
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Removal of cash margin
LAHORE, May 29: The Pakistan Steel Re-Rolling Mills Association has demanded withdrawal of 35 per cent cash margin imposed on import of raw material to save the industry from closure....
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PTA asks customs to remove jammers
KARACHI, May 29: The Pakistan Telecommunication Authority (PTA) has served notice on customs authorities for illegally installing frequency jammers at Customs House, Karachi, as it had been causing interference to telecom users....
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Dollar gains
LONDON, May 29: The dollar was firmer on Thursday after US growth figures suggested there was some underlying strength in the economy despite the ravages of the subprime home loan crisis, dealers said....
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TDAP invites applications
KARACHI, May 29: The Trade Development Authority of Pakistan (TDAP) has invited applications from exporters of engineering goods for payment of 25 per cent inland freight subsidy....
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Karachi Port operations
KARACHI, May 29: A dozen ships carrying general cargo, tallow and to load clinkers and ethanol are expected to arrive at the outer anchorage on Friday, according to KPT sources....
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Port Qasim
KARACHI, May 29: Four ships carrying containers, chemicals and iron ore were allotted berths during the last 24 hours, said a PQA press release on Thursday....
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Cotton prices quoted further higher by Rs50
KARACHI, May 29: Cotton prices on Thursday were quoted further higher by Rs50 per maund for the second session in a row as a section of leading spinners tried to grab the unsold stock below Rs4,000....
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Asian stocks close up as Japan surges
HONG KONG, May 29: Asian stocks closed mostly up on Thursday after Japan surged over three per cent as investors looked on the bright side of recent data from the struggling US economy....
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Palm oil prices rise
KUALA LUMPUR, May 29: Malaysian crude palm oil futures rose on Thursday, recovering from sharp losses the day before as some investors were convinced that the sell-off in crude oil and other vegetable oil markets would be short-lived....
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Gold hedging falls 15pc
LONDON, May 29: Gold miners cut hedging positions by 15 per cent to 22.69 million ounces in the first quarter of 2008 from the previous three months, with the full year...
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Karachi market rates
KARACHI, May 29: The following were Thursday commodity market rates in rupees....
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