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| June 21, 2008 | Saturday | Jamadi-us-Sani 16, 1429 |
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Cut in direct transfers to hit Sindh, Balochistan hard
KARACHI, June 20: The federal government is cutting down straight transfers to provinces to Rs62.63 billion in 2008-09 from Rs65.88 billion in 2007-08, which is hitting hard the oil and gas producing provinces of Sindh and Balochistan.... 
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Exports grow by 14.47pc in May
ISLAMABAD, June 20: Exports from Pakistan during May 2008 amounted to Rs131,572 million as against Rs114,943 million in April 2008 showing an increase of 14.47 per cent....
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Current account deficit near $13bn
KARACHI, June 20: The current account deficit of the country has broken all records as it hit almost $13 billion in 11 months, indicating that more is to come at the end of the current fiscal....
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Textile, clothing exports fall 2.5pc
ISLAMABAD, June 20: Textile and clothing exports declined by 2.5 per cent to $9.591 billion during the first 11 months (July-May) of the current fiscal year from $9.837...
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Sindh receives $2.5bn investment offer: Thar coal project
KARACHI, June 20: Sindh has received $2.5 billion investment offer for a mining project in Thar coalfield from reputed national and international investors....
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Weekly SPI inflation up 26.7pc
ISLAMABAD, June 20: The weekly inflation surged by 26.79pc during the week ended on June 19 over the corresponding week of last year....
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Credit to private sector up by 15.5pc
KARACHI, June 20: The Private Sector Credit Advisory Committee (PSCAC) of the State Bank is holding a meeting on Saturday to review credit expansion to the private sector during the first 11 months of current fiscal year, which stands at Rs384.4...
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Diesel being smuggled to Kabul
KARACHI, June 19: Pakistani diesel, which is priced at Rs50.14 a litre, is being smuggled out to Afghanistan, and it is reportedly being sold at Rs75 a litre in the neighboring country....
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Japan Power to convert loan into equity
KARACHI, June 20: Japan Power Generation Limited, a stock market listed company, would convert interest-free loan amounting to Rs84 million advanced by four parties into equity....
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TCP scraps tenders for purchase of sugar
LAHORE, June 20: Pakistan Sugar Mills Association, Punjab zone, on Thursday said that the Trading Corporation of Pakistan (TCP) cancelled two tenders for purchase of sugar from mills....
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KSE index sheds another 215.67 points
KARACHI, June 20: Panic selling again dominated trading on the Karachi Stock Exchange on Friday as institutional efforts to put the market back on the rails after injecting a fresh liquidity...
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EU divided over oil price spike response
BRUSSELS, June 20: EU leaders failed at a summit on Friday to overcome divisions over how to ease the pain of high oil prices, with France finding little support for proposed tax breaks on fuel....
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FED on cell phones to fetch Rs15bn
LAHORE, June 20: With the imposition of 21 per cent federal excise duty (FED) on telecom services in the 2008-09 budget, cell phone users will have to pay an additional amount of at least Rs15 billion during the next fiscal year....
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E-banking: scope for IT sector
The computerisation of banking systems technically termed as e-banking, on one hand has brought drastic changes in banking industry and consumers’ lives, it has on the other hand, opened new doors of opportunities for IT industry in Pakistan....
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SBP gives relief under export finance scheme
KARACHI, June 20: The State Bank of Pakistan (SBP) has decided to provide the following relief in respect of refinance availed by exporters under the export finance scheme for fiscal year 2007-08 to address the problems facing the exporters....
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Cotton market lacks lustre
KARACHI, June 20: Physical activity on the cotton market remained insipid as there were no selling offers from the Punjab ginners who observe Friday as weekly holiday....
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Oil prices rebound
LONDON, June 20: Oil prices stormed higher on Friday as Opec members hit out at consumer demands for more crude ahead of a high-level weekend meeting in the Saudi city of Jeddah to discuss rocketing fuel costs....
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Karachi Port operations
KARACHI, June 20: Five ships carrying containers, phosphate and to load clinker are expected to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, June 20: Four ships scheduled to load/offload containers, cement, acetic acid and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Friday....
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Karachi market rates
KARACHI, June 20: The following were Friday commodity market rates in rupees....
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Palm oil drops 2.1pc
KUALA LUMPUR, June 20: Malaysian crude palm oil futures slipped as much as 2.1 per cent to a one-week low on Friday as dismal export data from cargo surveyors prompted investors to book profits amid weaker crude oil markets....
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Asian stocks close mostly down
HONG KONG, June 20: Asian stocks closed mostly down on Friday with India tumbling over three per cent after its inflation rate surged, but China rallied following a sudden government fuel price hike....
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India’s inflation rate surges to 11.05pc, 13-year peak
NEW DELHI, June 20: Indian inflation raced to its highest level in 13 years, accelerating to over 11 percent after a fuel price hike, according to data Friday that piled pressure on the government as general elections loom....
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