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| October 09, 2008 | Thursday | Shawwal 9, 1429 |
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Default reports termed mere speculations
LAHORE, Oct 8: Federal finance ministry officials shrug off reports of the country’s possible default on its foreign obligations over the next several months as mere rumours.... 
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10-gram gold price hits record at Rs23,142
KARACHI, Oct 8: The local gold price hit the record peak at Rs23,142 per 10 grams on Wednesday, from Rs22,242 on Tuesday after the yellow metal rates on the international markets surged to $911 from $887 per ounce....
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Pakistan’s rich invest $100m in Dubai show
KARACHI, Oct 8: More than 100 Pakistan’s super rich persons — stock brokers, bankers, textile tycoons, cement barons, builders and developers, retired civil and military bureaucrats and practicing professionals (doctors, chartered...
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No relief in petrol prices likely
ISLAMABAD, Oct 8: Though crude oil price in the international market has dropped to below $80 a barrel from $100, the government has no intention to pass on this relief to...
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Joint shipping firm with Iran proposed
ISLAMABAD, Oct 8: Pakistan and Iran agreed to enhance bilateral economic cooperation in various sectors, including energy, railways, roads and trade, besides exploring the need for establishing a joint shipping company to boost maritime cooperation and mutual trade....
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Oil prices fall
LONDON, Oct 8: Oil prices sank on Wednesday as rising American crude reserves signalled weaker demand in the United States, the world’s biggest consumer of energy....
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Ship with gantry cranes arrives at PICT
KARACHI, Oct 8: A special project ship — Zhenhua 5 — carrying two ship-to- shore gantry cranes and eight rubber tire gantries (RTGs) worth $25 million was given a berth at the Pakistan International Container Terminal (PICT) on Wednesday....
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Mutual fund freeze not to impact money funds
KARACHI, Oct 8: The freeze on pricing, issuance and redemption of units of open-end mutual funds with direct exposure to equity market imposed by the Securities and Exchange Commission of Pakistan...
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BMA to launch shares of CDC
KARACHI, Oct 8: Central Depository Company of Pakistan (CDC) has awarded a mandate to BMA Capital to act as lead manager for the listing and Initial Public Offering (IPO) of shares in the company, said a release issued on Wednesday....
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Stocks shed overnight gains as support turns shy
KARACHI, Oct 8: The share market on Wednesday lacked normal support as investors were not inclined to take new positions owing to the falling value of the rupee, which hit a new low around Rs80 to a dollar....
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Minfal’s advice Replace cane crop with sugar beet
ISLAMABAD, Oct 8: The federal food ministry of food, agriculture and livestock (Minfal) has asked Sindh and Punjab to replace half of their sugarcane crop area with sugar beet in order...
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New WTO envoy to be named soon
ISLAMABAD, Oct 8: Chief Collector North Shahid Rahim Shaikh is likely to be appointed Pakistan’s Permanent Representative to the WTO....
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Lint prices fall on depressed trading
KARACHI, Oct 8: Cotton market on Wednesday remained under pressure on renewed selling triggered by reports of higher phutti arrivals into the ginneries and the weakness of the New York cotton futures owing to crisis on the US financial markets....
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Spanish bank fund for mortgages
MADRID, Oct 8: Spain’s new 30-billion-euro bank rescue fund is aimed at acquiring top-rated mortgages in exchange for injecting essential liquidity into the credit market, a government spokesman said on Wednesday....
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400 foreigners to attend Expo Pakistan
KARACHI, Oct 8: The Trade Development Authority of Pakistan (TDAP) is expecting arrival of over 400 foreign buyers from 34 countries in the Expo Pakistan 2008 being held on Oct 27 to 30....
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Asian stock markets battered
HONG KONG, Oct 8: Stocks in Asia were battered on Wednesday, with Tokyo losing more than nine per cent, despite government measures to pump money into the market as investors grew more concerned for the global economy....
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IMF sees major global downturn
WASHINGTON, Oct 8: In its bleakest forecast in years, the International Monetary Fund said on Wednesday the world economy was set for a major downturn with the United States and Europe either in or on the brink of recession....
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Palm oil slides 5.1 per cent
KUALA LUMPUR, Oct 8: Malaysian crude palm oil futures dived 5.1 per cent on Wednesday, dragged down by faltering crude oil and soyaoil markets, traders said....
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Karachi market rates
KARACHI, Oct 8: The following were Wednesday commodity market rates in rupees....
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