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| August 09, 2008 | Saturday | Sha’aban 6, 1429 |
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Suspension akin to defaulter cos bailout
KARACHI, Aug 8: Since January this year, the Karachi Stock Exchange has suspended more than 20 companies, which many investors see as a bailout of delinquent companies.... 
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Study on Reko Diqminerals by May
SANTIAGO, Aug 8: Chile’s Antofagasta Minerals, a London-listed copper miner, expects to complete a feasibility study of its Reko Diq copper property in Pakistan by May next year, company President Marcelo Awad said on Thursday....
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NBFCs bodies oppose central bank’s regulatory role
ISLAMABAD, Aug 8: Investment banks, leasing companies and mutual funds have asked the finance ministry not to act over a proposal that seeks transfer of powers to the State Bank to regulate some of the non-banking finance companies (NBFCs)....
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KSE 100-share index gains another 202 points
KARACHI, Aug 8: The share market staged a snap but decisive recovery on Friday on active short-covering by equity market support fund and other investors on the relatively safe oil and...
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Peasants to set up cattle farms in Sindh
KARACHI, Aug 8: The Livestock Dairy Development Board under its meat development programme launched in Sindh distributed over Rs16.3 million as grant to 583 farmers to set up model farms in June 2008....
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Oil prices fall to $114
LONDON, Aug 8: Crude prices continued their dizzying spiral down on Friday, shedding nearly four dollars to trade below 114 dollars a barrel as the US currency strengthened amid concerns about energy demand, dealers said....
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Pakistan to import 300,000 tons urea
ISLAMABAD, Aug 8: Pakistan will import 300,000 tons of urea from Saudi Arabia and provide maximum subsidy on fertiliser for maintaining prices at the current level so as to avoid the...
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Banks’ capital limit to be raised to $300m
KARACHI, Aug 8: The Minimum Capital Requirement (MCR) will be increased to $300 million for both conventional and Islamic banks, said banking sources....
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Canadian trade team to visit Pakistan
KARACHI, Aug 8: Canadian investment mission is expected to visit Pakistan this year to explore possibilities of investment....
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OMV gets 2 more oil licences
VIENNA, Aug 8: Austrian oil and gas giant OMV said on Friday it had acquired stakes in two licences to explore for oil in Pakistan....
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TCP floats tender for wheat
ISLAMABAD, Aug 8: The Trading Corporation of Pakistan (TCP) has issued a tender to import 250,000 metric tons of wheat in bulk, according to a document on its website seen on Friday....
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Poland asked to invest in coal power
ISLAMABAD, Aug 8: Federal Minister for Water and Power Raja Pervez Ashraf on Friday invited Poland to invest in the coal power generation and coal mining sector in Pakistan to benefit the country with the Polish expertise and technology....
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Maybank raises stake in MCB Bank
KUALA LUMPUR, Aug 8: Malaysia’s Maybank has bought another 5 per cent of MCB Bank for about 703 million ringgit ($213 million), raising its stake in Pakistan’s biggest lender to 20 per cent, it said on Friday....
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Slow buying despite low cotton prices
KARACHI, Aug 8: Cotton market maintained a firm trend on Friday but physical activity remained on the lower side despite the fact that some of the Sindh ginners reduced their asking prices to Rs4,175 per maund....
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New system to trace rebate claims
KARACHI, Aug 8: A delegation of the Pakistan Leather Garment Manufacturers and Exporters Association (Plgmea) met Ms. Rubina Wasti, Collector of Customs (Export), to discuss problems faced by the exporters....
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Euro plummets against dollar
LONDON, Aug 8: The euro skidded lower against the dollar on Friday on fears of a recession in the single currency area after Italy reported a contraction in the second quarter, dealers said....
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Canada loses 55,200 jobs
OTTAWA, Aug 8: Canada’s economy lost 55,200 jobs in July, the highest monthly figure in 17 years, the government said on Friday....
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Karachi Port operations
KARACHI, Aug 8: Nine ships carrying containers, coal and general cargo are expected to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, Aug 8: Two ships scheduled to load/offload containers were allotted berths during the last 24 hours, said a PQA press release on Friday....
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Citi-PPAF awards
KARACHI, Aug 8: The 2008 Citi Micro-entrepreneurship Awards programme was launched via media conference at a local hotel....
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Asian stocks close mixed
HONG KONG, Aug 8: Asian shares close mixed on Friday with a near 4.5 per cent plunge in Shanghai damaging hopes that the Beijing Games will help to boost the ailing Chinese stock market....
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Malaysian palm oil slides
JAKARTA, Aug 8: Malaysian crude palm oil futures tumbled more than 2 per cent on Friday as faltering crude oil dimmed prospects for vegetable oil-based biofuels, heightening concerns about slowing demand, dealers said....
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Karachi market rates
KARACHI, Aug 8: The following were Friday commodity market rates in rupees....
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