DAWN - Business; July 10, 2008

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July 10, 2008	Thursday	Rajab 6, 1429

Wheat price up on minister’s remark KARACHI, July 9: Wheat price in the open market again climbed to Rs2,400 on Wednesday from Rs2,200 per 100kg a few days back, shattering the hopes of a fall in the prices of various flour varieties....		Rupee bounces back against dollar KARACHI, July 9: The falling rupee bounced back on Wednesday as it gained 3.2 per cent against the US dollar which was the direct outcome of a series of measures taken by the State Bank of Pakistan on Tuesday....

Banks oppose intervention by CCP KARACHI, July 9: Bankers told Finance Minister Naveed Qamar on Wednesday that they didn’t want intervention by the Competition Commission of Pakistan in banking affairs....		Oil price rebounds LONDON, July 9: Oil prices recovered some lost ground on Wednesday on fresh fears about possible supply disruptions after crude producer Iran tested a long-range missile capable of hitting Israel, analysts said....

Private sector facilitated to export bulk cement KARACHI, July 9: The Karachi Port Trust, as part of its landlord port strategy, has facilitated the private sector to export bulk cement....		Govt to Facilitate foreign investors KUALA LUMPUR, July 9: Prime Minister Yousuf Raza Gilani has invited private sector investors, particularly from the friendly countries, to invest in the power and agriculture sectors to enable Pakistan overcome the shortage of electricity and food....

Textile industry may get Rs4bn relief ISLAMABAD, July 9: The government has decided in principle to provide Rs4 billion relief to the textile industry through reduction in recently announced gas price increase for industrial and captive power plants, it is learnt....		Consensus NFC formula likely in next meeting KARACHI, July 9: Sindh Chief Minister Syed Qaim Ali Shah and senior minister Pir Mazharul Haq are expected to represent their province in the next National Finance Commission whenever it is constituted....

10 chambers endorse strike call LAHORE, July 9: Ten chambers of commerce and industry from Punjab, Sindh and the NWFP have endorsed the July 11 strike call given by the Faisalabad Chamber of Commerce....		G8 hopes breaking of WTO impasse TOYAKO, July 9: World leaders at a summit of the Group of Eight industrialised powers voiced hope on Wednesday of a breakthrough in stalled talks to tear down global trade barriers....

Sugar tender KARACHI, July 9: The Trading Corporation of Pakistan (TCP) has floated a tender for the purchase of 50,000 metric tons of refined sugar from local mills....		Stock market takes recovery path KARACHI, July 9: The stock market showed signs of recovery on Wednesday as some of the leading oil and banking shares came in for modest short-covering followed by central bank moves...

Dollar falls LONDON, July 9: The dollar fell against the euro on Wednesday amid heightened geopolitical tension and ongoing concern about the US economy, traders said....		Cotton prices quoted higher by Rs50 KARACHI, July 9: Cotton market showed a firm trend on Wednesday as spinners and mills remained active buyers at the current levels amid fears about the size of the new crop....

Karachi Port operations KARACHI, July 9: Six ships carrying containers, coal and to load cement and molasses are due to arrive at the outer anchorage on Thursday, according to KPT sources....		Port Qasim KARACHI, July 9: Two ships scheduled to load/offload containers and palm oil were berthed during the last 24 hours, said a PQA press release on Wednesday....

Finance minister visits NBP KARACHI, July 9: Finance Minister Naveed Qamar visited the head office of National Bank of Pakistan (NBP) here on Wednesday....		Meezan Bank joins IFC system KARACHI, July 9: The International Finance Corporation (IFC), a member of the World Bank Group, on Wednesday announced that Meezan Bank Limited has become the first Islamic bank in Pakistan to...

Japan’s petrol hits record high TOKYO, July 9: Japan’s average petrol price at the pump has hit a record high of 181.50 yen ($1.68) per litre due to surges in global crude oil prices, an industry group said on Wednesday....		Asian stocks close mostly up after oil falls back HONG KONG, July 9: Asian stocks closed mostly up on Wednesday after a drop in oil prices boosted sentiment, but the G8 industrial powers issued fresh warnings about threats to the global economy....

Palm oil recovers KUALA LUMPUR, July 9: Malaysian crude palm oil futures rose 1.8 per cent on Wednesday, snapping a four-day losing streak as resurgent crude oil prices brightened global vegetable oil markets....		Indian rupee rises MUMBAI, July 9: The Indian rupee climbed on Wednesday as signs of political stability, a 4.6 per cent surge in the share market and lower crude prices offered some respite to worries about fund outflows and a widening trade deficit....

Gold climbs on Iran-Israel tension LONDON, July 9: Gold firmed in Europe on Wednesday as reports Iran had test-fired missiles lifted oil prices and sparked buying of bullion as a safe haven.

The DAWN Media Group