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| July 29, 2008 | Tuesday | Rajab 25, 1429 |
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SBP asks banks to lower Kibor
KARACHI, July 28: The State Bank of Pakistan has warned banks to bring down the Karachi Inter-Bank Offered Rate (Kibor) up to 13 to 13.5 per cent or face action against this undesirable inter-bank rate.... 
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50-100bps rate hike expected today
KARACHI, July 28: The State Bank of Pakistan, which is going to announce its monetary decisions on Tuesday, is expected to increase the discount rate from 50 to 100 basis points....
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Sindh asserts control over mineral wealth
KARACHI, July 28: The Sindh chief minister, who holds responsibilities of finance, planning and development, is also looking after mines and mineral development in the province and is heading the recently constituted Thar Coal and Energy Board....
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Body to study new fishing ban period
KARACHI, July 28: The ministry of food and agriculture has set up a committee of fisheries experts to decide about the fishing ban period on the basis of information about changing...
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UBL, HBL show mixed results
KARACHI, July 28: Two major banks, United Bank Limited and Habib Bank Limited unveiled financial figures for the second quarter (April-June) and the six months (Jan-June) 2008, on Monday....
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FBR to introduce new audit system
KARACHI, July 28: The Federal Board of Revenue (FBR) would introduce a composite audit system for sales tax, income tax, customs duty and federal excise duty within a year....
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Sugar import duty exemption notified
ISLAMABAD, July 28: The government has notified exemption of 25 per cent duty on import of sugar....
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Treasury bills auction
KARACHI, July 28: The State Bank of Pakistan said on Monday it would auction Rs50 billion worth of 3-, 6-, and 12-month Treasury bills this week....
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‘Wheat being transported despite ban’
KARACHI, July 28: A former chairman of Pakistan Flour Mills Association, Sindh Circle, has alleged that wheat flour and maida is being openly transported by National Logistic Cell (NLC) trailers and...
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Oil prices inch up
LONDON, July 28: Oil prices rose on Monday as Anglo-Dutch energy giant Royal Dutch Shell cut output in Nigeria after militants sabotaged at least one of its pipelines supplying crude....
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Money rates rise
KARACHI, July 28: Short-term money rates rose on Monday, reflecting expectations of a rate rise in a central bank monetary policy that was due to be announced on Tuesday....
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Dollar dips on US banking woes
LONDON, July 28: The dollar dipped against the euro on Monday on fresh concerns for the US banking sector and renewed signs of inflation in the eurozone....
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US forecasts $490bn budget deficit
WASHINGTON, July 28: The White House has revised up its estimate of the budget deficit for next fiscal year to a record $490 billion, a senior administration official said on Monday....
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KSE 100-share index loses 453.8 points
KARACHI, July 28: The KSE 100-share index again took a massive plunge of 453.88 points or 4.11 per cent at 10,578.49 on nervous foreign selling in oil and banking shares triggered...
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Cotton prices shoot up on supply fears
KARACHI, July 28: Trading on the cotton market on Monday resumed on a bullish note followed by reports of drying up of arrivals of phutti into the ginneries leading to pressure on ready stocks....
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Karachi Port operations
KARACHI, July 28: Six vessels carrying containers and to load naphtha are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Port Qasim
KARACHI, July 28: Two ships carrying palm oil and chemicals were berthed during the last 24 hours, said a PQA press release on Monday....
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Exporters denied R&D payment
KARACHI, July 28: Readymade garment exporters have been denied payment of research and development (R&D) support although they submitted claims before June 25, the last date fixed by the State Bank....
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Best corporate report awards distributed
KARACHI July 28: Dr Ishrat Husain, Dean and Director Institute of Business Administration (IBA), has urged the Securities and Exchange Commission of Pakistan (SECP) to develop code of corporate governance in...
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Teli’s plea to State Bank
KARACHI, July 28: Siraj Kassam Teli, a former president of Karachi Chamber of Commerce and Industry and a leader of Businessmen Group, has asserted that high bank interest rates have proved ineffective in controlling energy and food prices....
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Karachi market rates
KARACHI, July 28: The following were Monday commodity market rates in rupees....
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Asian stocks close mostly up but investors still cautious
HONG KONG, July 28: Asian shares closed mostly up Monday following better news about the ailing US economy, but investors were cautious over worries about the credit crunch and corporate profits data due this week....
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Indian rupee down
MUMBAI, July 28:The Indian rupee weakened on Monday, after having risen in early trade, as oil refiners bought dollars in the local currency market to meet month-end import commitments....
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Palm oil prices lower
JAKARTA, July 28: Malaysian crude palm oil futures fell 2.2 per cent to the lowest level in more than eight months on Monday as worries about a build-up in supply weighed on the market, dealers said....
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