DAWN - Business; June 17, 2008

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June 17, 2008	Tuesday	Jamadi-us-Sani 12, 1429

Sindh budget 2008-09: Rs89.3 billion allocated for development KARACHI, June 16: Sindh has allocated Rs67 billion for its Annual Development Plan (ADP) in the budget 2008-09, which is 23 per cent higher than the revised development budget for 2007-08....		Farmers to get 137,000 acres KARACHI, June 16: The Sindh government proposes to distribute about 137,000 acres of barrage land among the landless farmers preferably to a lady member of the family, Sindh chief minister Syed...

Duty on shares transfer goes KARACHI, June 16: The Sindh government has withdrawn stamp duty of 0.1 per cent on the par value of each electronically transferred share in the stock exchange, Chief Minister Syed Qaim Ali Shah announced in his budget speech on Monday....		Punjab sets record Rs160bn ADP LAHORE, June 16: The Punjab government has set aside a record sum of Rs160 billion for the Annual Development Plan (ADP) for 2008-09 which would mainly be financed through surpluses accruing from revenue and capital accounts of the provincial government.The...

Stamp duty coverage to be expanded LAHORE, June 16: The Punjab government, in a major move to boost its own revenues, proposes to expand coverage of stamp duty to all forms of transfer of immovable property in the province....		Tax on real estate dealers likely KARACHI, June 16: The Sindh government has sought comments from taxation experts and stakeholders on the possibility of imposing sales tax on real estate agents, and the finance department has already...

Karzai threat sends shares down by 4pc KARACHI, June 16: The Karachi Stock Exchange (KSE) 100-share index on Monday plunged by about four per cent on panic selling triggered by Afghan president�s threat to send troops to Pakistan to haunt Al-Qaeda militants....		$6 billion remitted in eleven months KARACHI, June 16: Overseas Pakistanis remitted about $6 billion during the first eleven months (July-May) of the current fiscal year, showing an increase of 18.3 per cent over the same period last year....

Discounting in tight money market KARACHI, June 16: Short-term money rates ended at top levels on Monday amid a lack of cash inflows and banks had to borrow from the central bank�s discount window....		Govt reassures investors over withdrawals KARACHI, June 16: The federal government has assured investors that it will not take any step that could affect the available liquidity of the banking sector....

Banking, Financial Tech Expo opens today KARACHI, June 16: A two-day exhibition and conference under the umbrella titled Asia Finance Conferences Series IV-�Banking and Financial Technology Expo� is opening here on Tuesday....		TCP receives wheat supply offers PARIS, June 16: The Trading Corporation of Pakistan has received offers of between $399.45 and $520.83 per ton, cost and freight included, in its tender to buy 250,000 tons of wheat over the weekend, European traders said on Monday....

PSO buys gas oil SINGAPORE, June 16: Pakistan State Oil (PSO) bought via tender at least 300,000 tons of gas oil for June to October delivery at premiums of $7.60...		Saudi Arabia hints at oil output hike next month RIYADH, June 16: Saudi Arabia may increase oil production by 200,000 barrels a day next month. Oil minister Ali al-Naimi told the visiting UN Secretary General that the kingdom would increase production from June to July....

US sees no commitment WASHINGTON, June 16: The White House said on Monday it does not expect a Saudi-hosted meeting between major oil producers and consumers this weekend to result in any commitments to increased production....		Active trading on cotton market KARACHI, June 16: Active trading was witnessed on the cotton market on Monday as some of the ginners opted to clearing the backlog of their unsold odd lots after spinners raised their asking prices to grab the floating stock....

Euro firms on rate hike expectations LONDON, June 16: The euro firmed against the dollar on Monday as record high eurozone inflation boosted expectations the European Central Bank would raise interest rates next month....		Meezan Tijarah launched KARACHI, June 16: Meezan Bank Limited has launched a new finished goods Islamic financing facility called Meezan Tijarah. The facility is available to SME/commercial/corporate customers seeking Shariah-compliant working capital financing solutions....

Karachi Port operations KARACHI, June 16: Seven ships carrying containers and to load cement and ethanol are due to arrive at the outer anchorage on Tuesday, according to KPT sources....		Port Qasim KARACHI, June 16: Four ships scheduled to load/offload containers, palm oil and coke were allotted berths during the last 24 hours, said a PQA press release on Monday....

Federal budget discussed KARACHI, June 16: The Karachi Iron Steel Merchants Association has appreciated the government announcement of reducing advance income tax on commercial imports....		Asian stock markets gain ground HONG KONG, June 16: Asian stocks gained ground on Monday as the markets welcomed a cooldown in oil prices as well as last week�s bounceback on Wall Street, with bargain-hunters driving many of the rallies....

Palm oil edges higher KUALA LUMPUR, June 16: Malaysian crude palm oil futures rose 1 per cent on Monday as soyaoil markets from the United States to China gained on weather worries, but slowing demand for tropical vegetable oil weighed on the market....		Karachi market rates KARACHI, June 16: The following were Monday commodity market rates in rupees....

Gold rises LONDON, June 16: Gold rose in Europe on Monday as the dollar weakened against the euro and as oil prices steadied after earlier losses, with traders expecting rising fears over inflation to give the precious metal its next leg up....		Conversion rates KARACHI: The following are June 17 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....

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