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| October 12, 2008 | Sunday | Shawwal 12, 1429 |
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Tareen’s nod awaited to close market till 27th
KARACHI, Oct 11: A meeting between the representatives of the Securities and Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (KSE) at the residence of chief regulator, Razi-ur-Rehman Khan... 
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Farmers start getting DAP at old rates
MULTAN, Oct 11: The farming community has started purchasing DAP on a large-scale after the government restored its old price and because they said they were not sure about the future market....
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PBA expects mild impact of global crisis
KARACHI, Oct 11: The financial crisis in the US and European countries will also hit the local banking industry, but its intensity will be much less than some other countries, said Pakistan Banks’ Association on Saturday....
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SBP amends clearance policy
KARACHI, Oct 11: The State Bank of Pakistan has decided that the requirement of reconciliation/clearance within 30 days will not be applicable to the premium on Crop Loan Insurance Scheme (CLIS) receivable from Government of Pakistan (GoP)....
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Gold price dips
KARACHI, Oct 11: Gold dipped by Rs944 to Rs22,370 per 10 grams in the local market on Saturday on low demand, as its international price also dropped by $68 to $854 per ounce, market sources said....
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Recession to have great impact on oil markets
RIYADH, Oct 11: Global financial markets are in turmoil. The talk of fear, panic, and meltdown is all around. With worst type of recession just round the corner, question marks about the future of global crude markets seem real....
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Inflation at 24.2pc in first quarter
ISLAMABAD, Oct 11: Inflation edged up to 24.25 per cent during the first quarter of the current fiscal year compared with 7.07 percent over the corresponding period last year, official data compiled by the Federal Bureau of Statistics revealed on Saturday....
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Bureaucrats set to create confusion: Tenure of NFC
KARACHI, Oct 11: Bureaucrats are set to torpedo the deliberations of elected representatives of the federal and provincial governments on National Finance Commission (NFC) from the word go as the notification...
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Industry threatens not to pay inflated power bills
KARACHI, Oct 11: Trade and industry leaders on Saturday decided not to pay power bills on enhanced tariffs and said they will instead make payments through bank drafts or pay orders at previous rates through their respective trade bodies....
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July-Sept car sales dropped by 51pc
KARACHI, Oct 11: Auto assemblers have expressed concern over the lingering slowdown in car sales, which further plummeted by 51 per cent during July-Sept 2008-09 to 19,066 units as compared to 39,297 units in the same period last year....
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CFS rates at new highs
KARACHI, Oct 11: The CFS rates on the Karachi Stock Exchange last week soared to a record high of 90 per cent owing to pressure on liquidity and higher risk perceptions, analyst Romessa Mirza said....
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Prices stay firm on cotton market
KARACHI, Oct 11: Cotton prices on Saturday remained stable around the overnight levels despite reports of fresh limit-fall in the New York cotton futures, analysts said....
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Saudi shares down
RIYADH, Oct 11: The Saudi stock market, the largest in the Arab world, opened the week’s trading on Saturday down seven per cent, diving below the 6,000-point mark....
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Aptma urges withdrawal of hike in power tariff
KARACHI, Oct 11: All Pakistan Textile Mills Association (Aptma) has shown its resentment over the proposed 50 per cent increase in electricity rate with respect to B-3 industrial tariff....
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Karachi Port operations
KARACHI, Oct 11: Nine ships, including Royal Success carrying imported wheat and to load cement and ethanol are due to arrive at the outer anchorage on Sunday, according to KPT sources....
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SBP offers relief to earthquake victims
KARACHI, Oct 11: The State Bank of Pakistan has facilitated the earthquake affected citizens in Kashmir who are unable to maintain minimum amount required to keep their accounts operative in commercial banks....
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Saudi Pak Bank’s CEO
KARACHI, Oct 11: The board of directors of Saudi Pak Commercial Bank has appointed Azmat Tareen as acting chief executive officer with immediate effect....
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Irate investors rally in Singapore
SINGAPORE, Oct 11: About 600 angry investors who lost their savings because of the global financial turmoil gathered in Singapore on Saturday, urging the central bank to help them recover their money....
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Oil prices plunge, gold shines
LONDON, Oct 11: Oil prices sank below $80 per barrel this week as commodities were knocked by plunging world stock markets, but gold benefited from its status as a safe bet in times of economic turmoil....
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New York cotton ends down
NEW YORK, Oct 11: Cotton futures closed near a 1-1/2 year low on Friday as the selling spree from the global financial crisis and a very bearish government crop report deflated the market, brokers said....
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Ford to dump shares in Mazda
TOKYO, Oct 11: US giant Ford Motor Co. plans to sell most of its shares in Japan’s Mazda to raise badly needed cash amid the current global financial crisis, press reports said on Saturday....
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‘Rich nations must help Africa’
BERLIN, Oct 11: Developed countries should do more to help Africa in the turbulent economic climate and not just “look after themselves,” Germany’s executive director at the World Bank said on Saturday....
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