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| August 17, 2008 | Sunday | Sha'aban 14, 1429 |
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Govt to cut borrowing, expenditures: minister
ISLAMABAD, Aug 16: The government is trying to deal with the serious problem of inflation by reducing government borrowing as well as development and non-development expenditures, according to Minister for Finance and Privatisation Syed Naveed Qamar.... 
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LPG prices go up; CNG rate fixation on Monday
KARACHI, Aug 16: Retailers have raised the rate of liquefied petroleum gas (LPG) to Rs85-86 per kg from Rs80-82 per kg following an increase in prices by marketing companies....
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Strategy on inflation, rupee soon: Naveed: $3.5bn forex inflow expected
KARACHI, Aug 16: The government expects about $3.5 billion foreign exchange inflow by end of this month, while a strategy to tackle inflation and ease pressure on the rupee will be...
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Delays in ships arrivals hurting exports
KARACHI, Aug 16: A long delay in arrival of ships at country’s ports is disturbing export trade because a number of consignments are not catching up with their delivery time agreed upon with foreign buyers....
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Govt eying $13bn foreign financing
ISLAMABAD, Aug 16: The government is eying to receive more than $13 billion external financing in various sectors in the wake of its new multi-pronged strategy aiming to bolster over all economic scene in the fiscal year 2008-09....
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SBP mulls consumer protection law
KARACHI, Aug 16: The State Bank of Pakistan is processing a draft consumer protection law to protect the banking consumers from losses. The draft law will be required to be passed...
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Tenders for sale of PIBs invited
KARACHI, Aug 16: The State Bank of Pakistan invited tenders for sale of Pakistan Investment Bonds (PIBs) for 3, 5, 7, 10, 15, 20 and 30 years (fresh issue) from primary dealers on August 29....
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Forward cover facility sought
KARACHI, Aug 16: Pakistan Leather Garment Manufacturers and Exporters Association chairman Fawad Ijaz Khan on Saturday urged the governor of State Bank of Pakistan to allow forward cover facility against imports by exporters....
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CFS rates show rise
KARACHI, Aug 16: CFS rates on the Karachi Stock Exchange posted a fresh modest rise of 30 basis points last week largely in sympathy with the weekly average increase in six-month Kibor rates, analyst Romessa Mirza said....
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Crude market sentiments turn bearish
RIYADH, Aug 16: Crude market sentiments have changed and changed drastically – from bullish to bearish – in a matter of weeks only....
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More time needed for Turkey-Iran gas deal
ANKARA, Aug 16: Turkey and Iran need more time to finalise a major natural gas deal, President Abdullah Gul said on Saturday, playing down reports that US pressure on Turkey to abandon the project is behind the delay....
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Cotton prices remain firm on weak rupee
KARACHI, Aug 16: The cotton prices closed the weekend session on a firm note owing to the weakness of the rupee and analysts attributed the price flare-up to strong presence of the private sector exporters in the market....
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Turkey raises wages
ANKARA, Aug 16: Turkey’s government is raising the salaries of civil servants by 8.4 per cent in a bid to protect them from rising prices, Prime Minister Tayyip Erdogan said on Saturday....
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SMEs urged to promote cooperation
KARACHI, Aug 16: The 6th meeting of the Organisation of Islamic Conference (OIC) task force on SMEs held in Bangkok on Friday....
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Siemens lax on anti-corruption
BERLIN, Aug 16: German engineering giant Siemens ignored its own anti-corruption procedures in a slush fund scandal that has brought down a number of former group executives, Spiegel magazine said....
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Karachi Port operations
KARACHI, Aug 16: Six ships carrying containers and to load molasses and ethanol are due to arrive at the outer anchorage on Sunday, according to KPT sources....
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Port Qasim
KARACHI, Aug 16: Five ships carrying containers, chemicals and wheat arrived at the outer anchorage during the last 24 hours, said a PQA press release on Saturday....
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Commodity markets slide on mounting demand worries
LONDON, Aug 16: Most commodity prices fell sharply this week, with gold under 800 dollars per ounce and crude oil slumping further, as weak economic growth heralded lower demand for raw materials, analysts said....
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NY cotton futures lower
NEW YORK, Aug 16: Cotton futures ended on Friday at an 11-month low on investment fund liquidation inspired by a broad sell-off across the commodity markets, and prices may slide further on follow-through pressure next week, brokers said....
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US stocks indexes narrowly mixed
NEW YORK, Aug 16: Wall Street investors ply the dog days of summer next week with few economic indicators on the calendar but stiff headwinds from volatile oil prices, rising inflation and slowing global growth....
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China refinery
KUWAIT, Aug 16: A planned refinery joint venture in southern China between state-owned Kuwait Petroleum Corp (KPC) and Sinopec Corp is expected to cost up to $4bn above initial estimates, state news agency KUNA cited KPC’s head as saying....
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Dollar hits 6-month high against euro
NEW YORK, Aug 16: The dollar surged to a six-month high against the euro Friday as traders fretted over eurozone economic momentum while some US indicators revealed better-than-expected economic activity....
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Karachi market rates
KARACHI, Aug 16: The following were Saturday commodity market rates in rupees....
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