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| October 08, 2008 | Wednesday | Shawwal 8, 1429 |
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Urea prices up by Rs2,500 per bag
MULTAN, Oct 7: As fertiliser companies on Tuesday increased the DAP prices per bag by more than Rs2,000, the farming community lashed out at the companies, saying the current raise will demoralise farmers and cause harm to agriculture.... 
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Bumper cotton crop likely
KARACHI, Oct 7: Higher phutti (seed-cotton) arrival in Sindh and Punjab during the first month of the new harvesting season (September) has poised the country to produce a bumper cotton crop....
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Rupee at record low vs dollar
KARACHI, Oct 7: The rupee edged to a record low to the dollar during the last few minutes of inter-bank trade on Tuesday, weighed down by worsening economic fundamentals and unrelenting demand for dollars to cover imports....
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NOC to Siemens not withdrawn: HEC bidding
ISLAMABAD, Oct 7: The Competition Commission has decided not to withdraw an NOC issued to the Siemens for participating in the bidding for the Heavy Electrical Complex being held on Oct 13....
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Light train project to be discussed today
KARACHI, Oct 7: The first meeting of the Public Private Partnership Policy board, Sindh, to be held on Wednesday at the Chief Minister House is expected to consider light rail train for Karachi....
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Gold price rises to Rs22,242
KARACHI, Oct 7: The increase in world gold prices by $50 per ounce pushed the local rate up by Rs1,028 per 10 grams and Rs1,200 per tola on Tuesday....
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Euro up sharply
LONDON, Oct 7: The euro rebounded sharply against the dollar on Tuesday, one day after plumbing fresh 13-month lows, as central banks unveiled a series of measures to reassure nervous markets....
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Stocks show modest rise on limited short-covering
KARACHI, Oct 7: After several lean sessions stray activity was witnessed on the stock market on Tuesday as some of the leading shares came in for modest short-covering followed by reports of positive developments on the official funding perceptions.Investors...
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Fed opens coffers to firms hit by crunch
WASHINGTON, Oct 7: The US Federal Reserve opened up its coffers on Tuesday to companies hit by the credit crunch with a new programme that will buy up commercial paper, short-term debt critical for many corporate operations....
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Oil price rebounds
LONDON, Oct 7: Oil prices rebounded on Tuesday after Libya called on crude producers to cut output to protect their incomes if the market continued trading at current levels....
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Financial crisis starts to bite in Germany
FRANKFURT, Oct 7: Signs multiplied on Tuesday that the financial crisis is biting in Europe’s biggest economy with German firms having more difficulty getting loans and carmakers cutting or suspending production....
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Cotton prices ease further on panic selling
KARACHI, Oct 7: Cotton prices on Tuesday eased further on near-panic selling by the ginners amid fears that global financial crisis could have negative fallout on the local cotton exports....
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FPCCI’s concern over liquidity crunch
KARACHI, Oct 7: President of the Federation of Pakistan Chambers of Commerce and Industry Tanvir Ahmad Sheikh has demanded lowering of cash reserve ratio of the banks by State Bank of Pakistan to improve liquidity in the market....
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Delay in funds affects projects
KARACHI, Oct 7: The delay in release of funds for agribusiness development projects in livestock sector in Sindh by Minfal has rendered these projects ineffective due to escalation in cost....
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World food imports to touch $1,035bn in 2008
RAWALPINDI, Oct 7: While commodity prices have always risen and fallen with fluctuation in supply and demand, the world agriculture now appears to be undergoing a structural shift towards a higher...
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Company news
KARACHI, Oct 7: Bank Al-Falah has signed an agreement with Microsoft to apply its technology solutions to areas of IT infrastructure and business productivity, communication and collaboration and infrastructure optimization for the bank....
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Gold up in Europe
LONDON, Oct 7: Gold rose more than 3 per cent and silver was up by 5 per cent on Tuesday as European stock markets turned lower, sparking a flight to safety....
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Asian stock markets mixed
HONG KONG, Oct 7: Asian shares ended mixed on Tuesday as they clawed back heavy losses on optimism for a round of interest rate cuts following a slash in the official figure in Australia....
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Palm oil rises nearly 3 pc
JAKARTA, Oct 7: Malaysian palm oil futures rose nearly 3 per cent on Tuesday, supported by short-covering after the biggest one-day fall in 23 years a day earlier, but traders said sentiment remained weak given poor fundamentals....
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Karachi market rates
KARACHI, Oct 7: The following were Tuesday commodity market rates in rupees....
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