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| August 02, 2008 | Saturday | Rajab 29, 1429 |
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KESC’s new owner charges 11pc tax
KARACHI, Aug 1: Taking command of the power utility through cell phones the Abraj executives, with the consent of Aljamoiah, have levied 1 per cent General Sales Tax (GST) and 10... 
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Urea outlets to be set up at tehsil level
ISLAMABAD, Aug 1: The government decided on Friday to make arrangements for setting up urea distribution outlets at the tehsil level....
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RBS starts business in Pakistan
KARACHI, Aug 1: The Royal Bank of Scotland Group (RBS) has formally re-branded ABN AMRO Bank branches in Pakistan. Pakistan is among the first Asian markets to be re-branded to RBS....
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Special session to rescue trapped investors today
KARACHI, Aug 1: The Karachi Stock Exchange would hold a special trading session on Saturday (Aug 2) from 11am to 12.30pm “to provide support to the market and provide an exit...
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Inflation surges by 31.9pc
ISLAMABAD, Aug 1: Weekly inflation surged by 31.92 per cent during the week ended on July 31, over the corresponding week of last year, Statistics Division said on Friday....
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Pulses, rice, poultry prices go up
KARACHI, Aug 1: A rising trend in prices of vegetables, pulses, rice, poultry and other commodities was witnessed during the last one month, which has ultimately put a burden on the monthly budgets of people....
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Portfolio investment falls sharply
KARACHI, Aug 1: Flight of portfolio investment continued during the very first month of the new fiscal year 2008-09, reflecting the lack of confidence of investors in the market.The...
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Huge gas reserves found in Sukkur
ISLAMABAD, Aug 1: A significant gas discovery has been made by Sukkur Joint Venture (SJV) from Koonj Well No 1A in Sukkur exploration block....
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TCP tenders for 250,000 tons wheat
HAMBURG, Aug 1: The Trading Corporation of Pakistan has issued a new international tender to purchase 250,000 metric tons of wheat, European traders said on Friday....
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Oil prices spike
LONDON, Aug 1: Oil prices surged higher on Friday after Washington set the weekend as a deadline for key crude producer Iran to reply to an international offer of incentives for a freeze in its nuclear drive....
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Stocks fall 412.19 points on nervous selling
KARACHI, Aug 1: Stocks on Friday fell across the board, like house of cards, on nervous selling followed by rumours of margin calls on a couple of brokers who reportedly failed...
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PPL chief
KARACHI, Aug 1: Khalid Rehman, deputy managing director (finance and administration), of the Pakistan Petroleum Limited (PPL), has taken over as managing director of the organisation, according to a press release issued on Friday....
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Import of sugar unlikely this year
ISLAMABAD, Aug 1: The government is unlikely to import sugar this year even after it removed import duties last week, as the country has enough stock to meet domestic needs, millers and importers said on Friday....
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Dollar gains
LONDON, Aug 1: The dollar firmed against the euro on Friday on a report that US job losses in July were not as heavy as had been feared and as fresh data pointed to an economic downturn in the eurozone....
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US economy loses 51,000 jobs
WASHINGTON, Aug 1: US employers shed 51,000 non-farm jobs in July marking a seventh straight month of job cuts as the economy struggles for momentum, a Labour Department survey showed on Friday....
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Kurdistan Gas City
SHARJAH, Aug 1: The groundbreaking ceremony of the Kurdistan Gas City will take place on September 21 in the presence of the Prime Minister of the Kurdistan Regional Government of Iraq, His Excellency Nechirvan Barzani....
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Karachi Port operations
KARACHI, Aug 1: Five ships carrying general cargo, coal and to load ethanol are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, Aug 1: Three ships carrying containers and crude oil were accommodated berths on Thursday, said a PQA press release on Friday....
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Cotton trading slows down on stocktaking
KARACHI, Aug 1: Physical activity on the cotton market slowed down on Friday as leading spinners and mills curtailed their daily ready intake apparently to have an overview of the supply position....
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Indonesia wants Pakistan to cut palm oil duty
JAKARTA, Aug 1: Indonesia, the world’s top palm oil producer, will ask Pakistan to lower import tariffs for palm oil products to boost its palm oil exports, a senior government official said on Friday....
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Money rates rise
KARACHI, Aug 1: Short-term money rates rose on Friday after the central bank conducted a repo operation to mop up liquidity from the money market but dealers said rates were expected fall on Saturday....
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Karachi market rates
KARACHI, Aug 1: The following were Friday commodity market rates in rupees....
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Asian stocks close mostly down
HONG KONG, Aug 1: Asian shares closed mostly down on Friday after weaker than expected US data and disappointing corporate profit figures indicating firms are feeling the chill from a cooling world economy....
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Palm oil slides 3.8 per cent
KUALA LUMPUR, Aug 1: Malaysian crude palm oil futures tumbled as much as 3.8 per cent on Friday as profit-taking swept across agriculture markets following heavy losses in crude oil, traders said....
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India to review grain stocks
NEW DELHI, Aug 1: A panel of Indian ministers will meet next week to assess the country’s grain stocks and review export curbs on rice, the trade minister said on Friday....
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Gold lower in Europe
LONDON, Aug 1: Gold slipped in Europe on Friday as weaker oil prices and a slightly firmer dollar dampened buying interest, but trading was cautious ahead of key US non-farm payrolls data later in the session....
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