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July 30, 2008 Wednesday Rajab 26, 1429 Probe into PSF dumping from China begins ISLAMABAD, July 29: The government on Tuesday launched an anti-dumping duty investigation against alleged dumping of polyester staple fibre (PSF) into Pakistan, originating in or exported from China.... ECC likely to approve textile package today ISLAMABAD, July 29: The textile tycoons succeeded in forcing the government to announce a hefty package of subsidies for exporters of textile and clothing. The package drawn on the taxpayers’ hard... Sindh Revenue Authority opposed KARACHI, July 29: The Sindh Board of Revenue (BoR) and the Ministry of Excise and Taxation have opposed the creation of the proposed Sindh Revenue Authority.... Kibor falls after SBP warning KARACHI, July 29: The banks traded money at a reduced rate on Tuesday as desired by the State Bank of Pakistan despite their reluctance to bring down the Karachi Inter-Bank Offered Rate (Kibor) with immediate effect.... India hikes key interest rate MUMBAI, July 29: India’s central bank raised its key short-term lending rate by half-a-percentage point on Tuesday in an aggressive bid to tame inflation riding at a 13-year high, prompting a major stock market sell-off.... Oil falls to near 3-month low NEW YORK, July 29: Oil fell to its lowest level in nearly three months on Tuesday, extending a steep slide since mid-July on mounting evidence high prices and a souring economy were cutting into world energy demand.The... Money rates flat, rupee weaker KARACHI, July 29: Short-term money rates ended flat on Tuesday as dealers said they were waiting for the central bank to announce the monetary policy later in the day.... TCP buys 100,000 tons of wheat at $374 ISLAMABAD, July 29: The Trading Corporation of Pakistan bought 100,000 metric tons of wheat at $374 a ton, cost and freight included, in a tender for 250,000 tons of wheat issued this month, a government official said on Tuesday.... Accord with Manila to set up JEC ISLAMABAD, July 29: Pakistan and Philippines on Tuesday signed an agreement to establish a Joint Economic Commission (JEC) for boosting cooperation in the areas of trade and investment.... Dollar surges vs euro, yen NEW YORK, July 29: The dollar surged to a one-month high on Tuesday as a sharp drop in crude oil prices and an unexpected rise in US consumer confidence in July... International Industries dominate day’s results KARACHI, July 29: International Industries Limited (INIL), which announced cash dividend, bonus shares and a right issue, dominated the financial results announced by 12 companies on Tuesday.... CFS MK-II implemented KARACHI, July 29: After the successful implementation of CFS MK-II with all eligible securities from Karachi location on July 14, the National Clearing Company of Pakistan Limited (NCCPL) implemented the centralised CFS MK-II on Monday from Lahore and Islamabad locations.... SECP increases period of account ISLAMABAD, July 29: The Securities and Exchange Commission of Pakistan (SECP) has clarified that the increase in period for holding Annual General Meeting (AGM) is also applicable to those companies whose financial year has ended on June 30.... KSE index sheds another 130 points KARACHI, July 29: Stocks remained under pressure ahead of the announcement of the monetary policy by the State Bank of Pakistan on Tuesday, but finished well above the session’s lows on... Active buying on cotton market KARACHI, July 29: Active trading was witnessed on the cotton market on Tuesday as spinners, after a brief pause, resumed covering operations amid conflicting reports about the damage to standing crop by the mealy bug.... Karachi Port operations KARACHI, July 29: Ten ships carrying containers and to load cement and clinker are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, July 29: Two ships scheduled to load/offload containers and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.... Opec chief says oil prices abnormal JAKARTA, July 29: Crude oil prices above 120 dollars a barrel are “abnormal” and could fall to around 78 dollars under the right circumstances, Opec President Chakib Khelil said here on Tuesday.... Ginners threaten strike from Aug 1 KARACHI, July 29: The Pakistan Cotton Ginners Association has announced a countrywide strike from August 1, 2008 if their demands were not accepted by the government.... Asian stocks slide as financial crisis deepens HONG KONG, July 29: Asian stocks fell around 2 per cent on Tuesday, after Merrill Lynch, the third-largest US investment bank, announced a $5.7 billion write-down related to bad debt, draining confidence in the shaky financial sector.... Palm oil prices lower KUALA LUMPUR, July 29: Malaysian crude palm oil futures dropped as much as 4.7 per cent to seven-and-a-half month lows on Tuesday, slipping below a key resistance level of 3,000 ringgit on signs of rising stocks of the vegetable oil.... Gold steady LONDON, July 29: Gold was steady in Europe on Tuesday as oil prices firmed and equities weakened, but the metal’s failure to spike higher after weekend attacks dampened enthusiasm, traders said.... Karachi market rates KARACHI, July 29: The following were Tuesday commodity market rates in rupees....

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