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| September 23, 2008 | Tuesday | Ramazan 22, 1429 |
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Import of raw cotton to cost $1.5 billion
KARACHI, Sept 22: While the foreign exchange is running out, it may be difficult for the country to spend a huge sum of about $1.5 billion on import of raw cotton.... 
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Petroleum import bill increases 88 per cent
ISLAMABAD, Sept 22: Pakistan’s import bill of petroleum products reached $2.532 billion during the first two months of the current fiscal year, which is up by over 88 per cent from last year’s figure of $1.344...
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Hotels may suffer huge losses
KARACHI, Sept 22: The hotel industry in the metropolitan is expected to suffer Rs5 to Rs7 million per day loss following en masse cancellation of corporate and family functions and huge...
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KSE seeks SBP help to lift market out of impasse
KARACHI, Sept 22: The representatives of Karachi Stock Exchange met the Governor of State Bank of Pakistan (SBP), Dr Shamshad Akhtar, on Monday and presented certain proposals, which could help lift the market out of the current unhappy situation....
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Export of non-textile goods up by 57pc: July-Aug
ISLAMABAD, Sept 22: The export of non-textile products soared by 57.2 per cent to $1.73 billion during the first two months (July-August) of the current fiscal year against $1.1...
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PTA asked to set cellphone business rules
KARACHI, Sept 22: The Pakistan Telecommunications Authority (PTA) has been asked to draw up a comprehensive standard operating procedure for cellular telephone business in Pakistan that should safeguard the privacy right...
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Rupee hits new low vs dollar
KARACHI, Sept 22: The rupee traded at record lows on Monday following a suicide attack that killed 53 people in the capital on Saturday and dealers said the outlook was bleak due to economic and security worries....
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G7 vows to help US fight financial crisis
WASHINGTON, Sept 22: The Group of Seven industrialised nations pledged on Monday to help the United States address a global credit crisis, saying they will “take whatever actions may be necessary.”...
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Short-selling
THE HAGUE, Sept 22: The Netherlands said it would introduce a three-month ban on short-selling in financial shares....
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Stocks stay flat after Islamabad carnage
KARACHI, Sept 22: Trading on the stock market on Monday resumed on a cheerless note amid fears of more suicide attacks in the backdrop of Saturday’s Islamabad blasts....
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Karachi Port operations
KARACHI, Sept 22: Ten ships carrying chemicals and to load molasses and cement are due to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Port Qasim
KARACHI, Sept 22: Three ships carrying containers and palm oil were accommodated berths during the last 24 hours, said a PQA press release on Monday....
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Hectic buying on cotton market
KARACHI, Sept 22: Trading on the cotton market on Monday resumed on a higher note as spinners and mills were not inclined to take even a technical breather fearing further increase in prices....
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Deal for Lehman’s Asia operations
TOKYO, Sept 22: Top Japanese brokerage group Nomura Holdings has won a deal to buy the entire Asian operations of failed US investment firm Lehman Brothers Holdings, two sources said on Monday....
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ABL settles dispute with workers
KARACHI, Sept 22: The Allied Bank announced on Monday that it had reached a settlement with the ABL Workers Federation....
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Oil surges past $110
NEW YORK, Sept 22: Crude oil prices surged above $110 a barrel in New York on Monday, lifted by a declining dollar amid a US government financial bailout and supply worries in Nigeria and the Gulf of Mexico....
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Growers suggest Rs84 cane support price
KARACHI, Sept 22: Growers have suggested Rs84 per 40kg as minimum procurement price for sugarcane for the next crushing season due to start from October next....
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Asian stocks close up as traders welcome US rescue plan
HONG KONG, Sept 22: Shares in Asia mostly rose on Monday as dealers reacted positively to the US government’s rescue package for the financial sector, while some markets were also boosted by domestic regulatory measures....
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Tanners assured of support
KARACHI, Sept 22: The Trade Development Authority of Pakistan (TDAP) has assured of extending all support to Pakistan Tanners Association in upgrading of National Institute of Leather Technology (NILT) for skill development and improvement of the leather industry....
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Palm oil prices higher
JAKARTA, Sept 22: Malaysian crude palm oil futures rose more than 3 per cent on Monday as a crude oil rally helped allay fears of slowing demand....
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Karachi market rates
KARACHI, Sept 22: The following were Monday commodity market rates in rupees....
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