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| August 28, 2008 | Thursday | Sha'aban 25, 1429 |
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ADB sets poverty line afresh at $1.35
RAWALPINDI, Aug 27: The Asian Development Bank has carried out for the first time a thorough sensitivity analysis of internationally comparable poverty estimates, and says the new poverty line, called the ‘Asian Poverty Line’, is roughly $1.35... 
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KSE 100-share index loses 392 points
KARACHI, Aug 27: The share market on Wednesday ran into deeper recession on panic-selling spurred by reports of margin calls on some of the leading brokers who reportedly failed to meet...
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Thailand hikes key interest rates
BANGKOK, Aug 27: The Bank of Thailand raised interest rates 25 basis points to 3.75 per cent on Wednesday in a bid to tame soaring inflation, despite government concern about the impact on slowing economic growth....
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Euro gains against dollar
LONDON, Aug 27: The euro was holding onto some of its early gains on Wednesday, having recovered from a six-month low against the dollar seen after weak German business and consumer confidence data the previous day....
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Oil prices spike above $118
LONDON, Aug 27: Oil prices jumped above $118 on Wednesday as Tropical Storm Gustav posed a risk to US energy facilities and after a surprise drop to crude inventories in the United States, analysts said....
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German industry fears anti-Russia backlash by West
BERLIN, Aug 27: German industry groups have stepped up their warnings about isolating Russia in a sign of mounting concern that Moscow’s diplomatic showdown with the West over Georgia could damage business relations....
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World mobile phone sales growth slowing
PARIS, Aug 27: Growth in worldwide sales of mobile telephones will slow sharply in 2008 as consumers face increased economic difficulties, a report by Gartner research institute showed on Wednesday....
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‘Anti-Nano protests may hurt business’
MUMBAI, Aug 27: India’s most powerful businessman Mukesh Ambani on Wednesday condemned protests against a plant building the world’s cheapest car, saying they hurt the country’s ability to attract needed investment....
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JPMorgan, IFC to help boost trade activities
ISLAMABAD, Aug 27: IFC, a member of the World Bank group, and JPMorgan, jointly launched an innovative trade finance structure in Asia and the Pacific to help facilitate and boost trade activities in the region....
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Textile to suffer most from falling rupee, inflation
KARACHI, Aug 27: The devaluation of rupee and high infaltion will hit the textile sector along with other export-oriented and local industiress, said analysts....
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World energy subsidies touch $300bn a year
RAWALPINDI, Aug 27: While the government in Pakistan was gradually withdrawing subsidy on energy and raising power rates to put additional burden on the inflation-hit people, worldwide energy subsidies was touching the figure of $300 billion per year, or around 0.7...
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Karachi Port operations
KARACHI, Aug 27: Four vessels carrying containers are expected to arrive at the outer anchorage on Thursday, according to KPT sources....
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Port Qasim
KARACHI, Aug 27: Four ships scheduled to load/offload containers, cement, wheat, chemicals and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.Meanwhile,...
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Robust trading on cotton market
KARACHI, Aug 27: Cotton market on Wednesday witnessed brisk trading for second day in a row as spinners were not inclined to take even a technical breather despite the fact the...
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Wage-price spiral may force rates up
BUENOS AIRES, Aug 27: Further interest rate tightening could be needed if stubbornly high inflation sparks a wage-price spiral in the euro zone, European Central Bank Vice President Lucas Papademos said on Wednesday....
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Dutch utilities offer rare buying opportunity
AMSTERDAM, Aug 27: The two largest power utilities in the Netherlands are looking for foreign partners and present an increasingly rare opportunity for a wide range of potential suitors in a consolidating European market....
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Saarc chamber workshop
KARACHI, Aug 27: The Saarc Chamber of Commerce and Industry conducted a two-day strategy workshop in Colombo for capacity building of its office-bearers and to enhance their role in institutional development....
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Dividends
KARACHI, Aug 27: Nishat Mills posted a net profit of Rs6.132 billion during the financial year ended June 30, 2008 and declared a 25 per cent final cash dividend....
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Manila okays mining project
MANILA, Aug 27: The Philippines’ Department of Environment and Natural Resources has approved an application by a company controlled by the president of food and drinks giant San Miguel for a large-scale mining permit, a senior official said on Wednesday....
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Urea shortage
LARKANA, Aug 27: Growers from various areas of Larkana, Kamber and Shahdadkot districts protesting over the artificial shortage of urea fertiliser and demonstrated outside the office of Mukhtiarkaars in Shahdadkot and Ratodero town of Larkana.—APP...
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Gold rises in Europe
LONDON, Aug 27: Gold prices rose in Europe on Wednesday, tracking gains in oil, as the dollar retreated from the six-month high it hit in the previous session....
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Asian stocks close mostly higher
HONG KONG, Aug 27: Asian shares closed mostly up on Wednesday, with Hong Kong jumping nearly two percent after strong results from China Mobile, but investors remained cautious about the slowing global economy....
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Palm oil futures up
JAKARTA, Aug 27: Malaysian crude palm oil futures rose 3.8 per cent on Wednesday, recovering some of this week’s losses due to improved demand and rebounding crude oil prices, dealers said....
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Karachi market rates
KARACHI, Aug 27: The following were Wednesday commodity market rates in rupees....
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