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| September 27, 2008 | Saturday | Ramazan 26, 1429 |
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500 units face gas supply suspension
LAHORE, Sept 26: Gas supply to about 500 industries, mostly in the Punjab and some in the NWFP, would be suspended for more than two-and-a-half weeks due to closure of two... 
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Illegal transfers of dollars continue
KARACHI, Sept 26: Many currency dealers, it is believed, indulge in illegal currency business and are sending millions of dollars daily out of the country....
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Indians lead world in millionaires growth
MUMBAI, Sept 26: India is minting new millionaires at a faster pace than anywhere else in the world, buoyed by a fast-growing economy, according to a new study.There...
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Talks on trade with India hailed
KARACHI, Sept 26: Leaders of Saarc Chamber of Commerce and Industry have hailed the meeting between President Asif Zardari and Indian Premier Manmohan Singh in New York on the sidelines of UN General Assembly session....
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Bank holidays
KARACHI, Sept 26: The State Bank and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed on Oct 1, 2 and 3 due to Eidul Fitr.—APP...
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China’s help sought to calm storm in finance
SHANGHAI, Sept 26: European Union Trade Commissioner Peter Mandelson on Friday encouraged China to use its economic power to help calm the storm in the financial world....
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Major firms in US financial crisis
WASHINGTON, Sept 26: Here are the major companies to fail or undergo major changes resulting from the US financial crisis this year....
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HSBC to cut 1,100 jobs worldwide
HONG KONG, Sept 26: Banking giant HSBC is to cut 1,100 jobs worldwide because of the volatile global financial environment, a spokesman said on Friday....
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Returns date extended
ISLAMABAD, Sept 26: The Federal Board of Revenue (FBR) has further extended the date for submission of sales tax, federal excise and special sales tax returns for production and supplies for the tax period August 2008, up to Sept 30....
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IT rules amended to detect evasion
ISLAMABAD, Sept 26: The Federal Board of Revenue (FBR) has amended the income tax rules to seek more information about salaried taxpayers’ sources of income in a bid to unearth evasion of taxes....
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Oil prices shed over $2
LONDON, Sept 26: Oil prices fell on Friday, reversing recent gains after hopes were dashed that the US Congress was about to pass a massive financial bailout package, dealers said....
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Danish bank extends lending facilities
COPENHAGEN, Sept 26: Denmark’s central bank on Friday said it had extended lending facilities for banks and mortgage finance groups to ease the pressure on tight liquidity....
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German rail
BERLIN, Sept 26: Germany’s rail operator announced on Friday the timetable for its long-awaited stock market listing next month, one of the biggest in Europe in 2008, despite a “tense” situation on financial markets....
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Japanese consumer prices rise
TOKYO, Sept 26: Japan’s core inflation rate stayed at a decade high of 2.4 per cent in August as soaring energy costs continued to pressure Asia’s largest economy, official figures showed on Friday....
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Nigerian directive to oil firms
ABUJA, Sept 26: Nigeria has ordered oil firms to produce detailed gas production plans within weeks as the oil and gas rich country battled to ease shortages, officials said....
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Karachi Port operations
KARACHI, Sept 26: Six ships carrying imported wheat, urea and containers are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, Sept 26: Two ships scheduled to load/offload containers and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Friday....
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Sluggish trading on cotton market
KARACHI, Sept 26: Trading activity on the cotton market remained slow as both buyers and sellers observed Jumatul Wida with religious fervour being the last Friday of the holy month of Ramazan....
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S. Korea to inject $10 billion
SEOUL, Sept 26: South Korea announced plans on Friday to pump at least 10 billion dollars into the foreign exchange swap market to ease dollar shortages, its largest intervention in the market for a decade....
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ZTBL targets Rs72 billion disbursement
ISLAMABAD, Sept 26: Zarai Taraqiati Bank President Mohammad Zaka Ashraf has said that the bank will disburse Rs72 billion among the farmers during the current financial year....
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Venezuela, Russian firms to form energy consortium
ORENBURG (Russia), Sept 26: Russian and Venezuelan energy companies are to form a consortium to invest tens of billions of dollars in oil and gas projects in the South American country, Russia’s energy minister said on Friday....
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IMF loan for Burundi
BUJUMBURA, Sept 26: The International Monetary Fund (IMF) said on Friday it would give $17.9 million in a concessionary loan to boost Burundi’s central bank foreign exchange reserves for imports....
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Financial storm ravages French growth
PARIS, Sept 26: France abandoned on Friday a promise to wipe out its public deficit by 2012, as the global financial crisis sapped growth, hit the job market and forced the government to unveil a gloomy annual budget....
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Gold, platinum prices lower in Europe
LONDON, Sept 26: Gold drifted lower on Friday, marking its fourth day of losses, but remained range-bound as uncertainty over the US bailout plan to rescue the banking system kept investors on the sidelines....
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Malaysian palm oil gains
KUALA LUMPUR, Sept 26: Malaysian crude palm oil futures rose 1.5 per cent on Friday as investors took up positions ahead of the holidays next week, but traders said the outlook for the tropical oil remained cloudy....
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ADB loan for Vietnam to build highway
HANOI, Sept 26: The Asian Development Bank (ADB) and Vietnam on Friday signed the bank’s biggest single loan project, for a four-lane highway linking Hanoi with southern China....
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New Zealand falls into recession
WELLINGTON, Sept 26: New Zealand fell into its first recession for a decade during the first half of this year as the global credit crunch took hold, official figures showed on Friday....
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ECB sees easier bank demand for $30bn of 3-day funds
FRANKFURT, Sept 26: The European Central Bank said on Friday it saw less demand for $30 billion (20.5 billion euros) offered in 3-day funds to eurozone banks....
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Asia’s banking sector sound
SINGAPORE, Sept 26: Asia’s banking sector is fundamentally sound, despite the US financial crisis, but the region will see slower economic growth, a top Barclays economist told reporters in Singapore Friday....
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Kazakhstan growth forecasts
ALMATY, Sept 26: The International Monetary Fund (IMF) has cut its 2008 economic growth forecast for Kazakhstan to 4.5 per cent from the previous estimate of 5.0...
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