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| August 30, 2008 | Saturday | Sha'aban 27, 1429 |
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ADB agrees to release $500m tranche: $1.3bn programme
ISLAMABAD, Aug 29: The Asian Development Bank (ADB) has agreed to release the first tranche of a programme loan worth $500 million to Pakistan for accelerating economic transformation that enables the government to regroup recent economic initiatives.... 
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RTO plans to collect 1m tax returns
KARACHI, Aug 29: The Regional Tax Office (RTO), Karachi, has made elaborate arrangements to receive a record number of over one million income tax returns by September 30, as against 0.73...
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Senate body thrashes SECP for bourses’ plunge
ISLAMABAD, Aug 29: The Senate Standing Committee on Finance has asked the Securities and Exchange Commission of Pakistan (SECP) to start checking the “puzzling” post-April volatility in the stock exchanges that...
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Banks perform well in six months
KARACHI, Aug 29: Despite political turmoil in the country and an apparently weakening economy, banks’ advances grew by 11 per cent pushing profits higher during the first half of the current calendar year, 2008....
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Oil prices rally
LONDON, Aug 29: Oil prices rebounded on Friday as Tropical Storm Gustav risked becoming a hurricane once more, threatening key US energy production and refinery facilities in the Gulf of Mexico, traders said....
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US Chamber chief assures early BIT
KARACHI, Aug 29: The US business representatives have assured to pursue the case of closer economic cooperation and early conclusion of Bilateral Investment Treaty (BIT) with Pakistan for a more conducive business environment for private sector of both the countries....
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KCCI resents US travel advisories
KARACHI, Aug 29: Karachi Chamber of Commerce and Industry on Friday questioned US commitment to Pakistan when it issues frequent travel advisories and when the US private sector is not ready...
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New model of Toyota Corolla
KARACHI, Aug 29: The Indus Motor Company (IMC) has claimed that the new Toyota Corolla is totally a new shape, not only in its light but the entire structure and interior....
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Auto sales may fall by 30pc
KARACHI, Aug 29: The sales of automobile, both imported and locally assembled, is expected to decline by 30 per cent in 2008-2009 as government is harmonising its policies with its dislike for luxury spending, coupled with inflationary pressures in the economy....
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Equities remain subdued
KARACHI, Aug 29: Stocks on Friday lacked normal trading interest as investors were not inclined to go beyond price freeze level despite higher corporate announcements and some positive developments on the political front, including smooth sailing on the presidential election front....
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Prices stay firm on cotton market
KARACHI, Aug 29: Cotton prices on Friday remained stable at the previous levels amid an actively traded session for third session in a row as spinners are not inclined to take even a technical breather....
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Accord to produce world class buses
KARACHI, Aug 29: The Daewoo Bus Corporation (DBC) of Korea has decided to share hands with the Afzal Motors Private Limited (AMPL) by establishing a joint venture company (JVC), namely Daewoo...
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FBR list of luxury items
ISLAMABAD: The following is the remaining part of the list of 379 luxury items on which the government has imposed 15 to 50 per cent additional customs duty, partly reported in...
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Commissioners get powers to unearth tax-evasion
ISLAMABAD, Aug 29: The government on Friday gave powers to the commissioners of income tax to seek information from big retailers and wholesalers about their real transactions to unearth the possible tax-evasion....
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Karachi Port operations
KARACHI, Aug 29: Five ships carrying containers and to load cement are expected to arrive at the outer anchorage on Saturday, according to KPT sources....
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Asian stocks close up, buoyed by US figures
HONG KONG, Aug 29: Asian shares closed up on Friday on unexpectedly strong US economic growth figures, with Japan rallying over two percent ahead of the announcement of an economic stimulus package....
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Palm oil futures leap
KUALA LUMPUR, Aug 29: Malaysian crude palm oil futures soared 6.1 per cent on Friday, clawing back heavy losses earlier in the week, as strength in crude oil markets boosted global vegetable oil prices, traders said....
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Company news
KARACHI, Aug 29: Tufail Chemical has signed an agreement with Desmet Ballestra of Italy for setting up a 40,000 tons per annum sulphonic acid plant at Port Qasim....
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Karachi market rates
KARACHI, Aug 29: The following were Friday commodity market rates in rupees....
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