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| August 13, 2008 | Wednesday | Sha'aban 10, 1429 |
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CCP opposes move to fix cement prices
ISLAMABAD, Aug 12: The Competition Commission of Pakistan (CCP) has raised objections over the new move of the ministry of industries and production to help fix the prices of cement as it amounted to promoting cartelisation.... 
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Fundamentals of oil market easing: IEA
LONDON, Aug 12: The International Energy Agency (IEA) in its latest report issued on Tuesday said the fundamentals of the oil market are easing because the world demand for the crude...
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Financial results of oil marketing companies
KARACHI, Aug 12: Pakistan State Oil (PSO) reported strong growth in earnings, quite in line with market expectations, but investors were slightly disappointed at the board’s announcement of the final cash dividend at Rs12.50...
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Global prices fall to 7-month low
LONDON, Aug 12: The price of gold hit the lowest point for seven and a half months on Tuesday as the precious metal was rocked by the strong US currency and weakening crude oil prices, analysts said....
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TCP buys 418,000 tons of wheat
ISLAMABAD, Aug 12: The Trading Corporation of Pakistan (TCP) has bought an additional 418,000 metric tons of wheat at $379.71 a ton, cost and freight included, in a tender opened last week, an official said on Tuesday....
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Steel cities in different zones proposed
RAWALPINDI, Aug 12: The first meeting of the committee on development of steel industry formed by Engineering Development Board (EDB) to firm up recommendations for the steel policy was held in Islamabad on Tuesday....
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Gold loses Rs1,071 in a single day
KARACHI, Aug 12: Gold registered a decline of Rs1,071 per 10 grams in a single day on Tuesday. The prices of yellow metal fell to Rs19,714 from Monday’s rate of Rs20,785 in the local market....
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Sri Lanka invites textile investment
KARACHI, Aug 12: Pakistani investors have been offered to set up textile units in Sri Lanka where there is no load-shedding and an easy access is available to markets in the USA and EU....
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KSE 100-share index again falls below 10,000
KARACHI, Aug 12: The Karachi Stock Exchange (KSE) 100-share index again fell below the base level of 10,000 points at 9,963.58 on Tuesday as investors took profits at higher rates owing...
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Overseas Pakistanis remit $627m in July
KARACHI, Aug 12: The first month of the current fiscal year carried good news that remittances sent by the overseas Pakistanis increased by over 26 per cent compared to the same month of last year....
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Rupee hits Another record low vs dollar
KARACHI, Aug 12: The rupee fell to a record low on Tuesday, hurt by the political turmoil and ailing economy, but the State Bank of Pakistan will find it hard to defend the currency because of dwindling foreign reserves....
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Euro plunges vs dollar
LONDON, Aug 12: The euro dived to a fresh six-month low point against the dollar on Tuesday as traders focused on the deteriorating economic health of the eurozone, dealers said....
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Hectic trading on cotton market
KARACHI, Aug 12: Active trading was witnessed on the cotton market on Tuesday as the post-strike session witnessed a flurry of buying orders by the spinners and the mills at the lower prices....
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Karachi Port operations
KARACHI, Aug 12: Six ships carrying chemicals, containers and to load cement and molasses are due to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Port Qasim
KARACHI, Aug 12: Five ships carrying containers, wheat, chemicals and furnace oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday....
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Oil prices drop
LONDON, Aug 12: Crude prices slid further on Tuesday, as traders took their cue from the stronger dollar and Russia, which ordered a halt to its military offensive against Georgia.Oil...
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US trade deficit shrinks
WASHINGTON, Aug 12: The US trade deficit shrank unexpectedly in June as a weak dollar stoked exports, offsetting record-high crude oil imports and a growing shortfall with China, official data showed on Tuesday....
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Pakistan delays some palm oil purchases
KUALA LUMPUR, Aug 12: Pakistan has delayed some palm oil purchases for the holy month of Ramazan, covering about 75 per cent of its requirements as traders pause to see where...
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Returns date extended
ISLAMABAD, Aug 12: The Federal Board of Revenue has extended the last date from August 15 to 25 for filing of sales tax/federal excise returns for tax period July 2008 to facilitate taxpayers....
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Treasury bills
KARACHI, Aug 12: The State Bank of Pakistan bought back Rs18.6 billion of Treasury bills on Tuesday under four-day reverse-repo contracts at...
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Asian stocks close mostly down
HONG KONG, Aug 12: Asian shares closed mostly down on Tuesday as investors took profits following gains in the previous session, with Japan sliding nearly one percent ahead of the release of key economic data....
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Palm oil prices hit 10-month low
KUALA LUMPUR, Aug 12: Malaysian crude palm oil futures fell as much as 4.1 per cent on Tuesday to hit a fresh 10-month low as faltering crude oil prices and expectations of higher global stocks pressured vegetable oil prices....
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ECB inflation
BERLIN, Aug 12: Inflation in the euro zone is not likely to drop back to the European Central Bank’s target of just below two per cent either this year or next,...
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Karachi market rates
KARACHI, Aug 12: The following were Tuesday commodity market rates in rupees....
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