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| October 16, 2008 | Thursday | Shawwal 16, 1429 |
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Cooking oil, ghee prices reduced: Fall in palm oil rates
KARACHI, Oct 15: Ghee and cooking oil manufacturers have finally decided to revise down rates in the local market following a decline in palm olien rates in international market.... 
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Duty on HSD, kerosene export cut by 48pc
ISLAMABAD, Oct 15: The government has scaled down regulatory duty by over 48 per cent on export of high-speed diesel (HSD) and superior kerosene respectively to accelerate export of oil to Afghanistan....
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Oil Pier Closure causes port congestion
KARACHI, Oct 15: Importers and exporters are paying heavy demurrage due to delays in berthing of liquid bulk carriers on Oil Pier II, which is closed for dredging for 15 days from October 8, shipping sources said on Wednesday....
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Economic zones soon with 10-year tax holiday
ISLAMABAD, Oct 15: The government will establish a powerful body headed by the prime minister, which will grant special economic zone (SEZ) status to all new and existing zones....
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KSE 100-share index stays unchanged
KARACHI, Oct 15: Trading on the stock market on Wednesday failed to pick up as investors again kept to the sidelines despite the fact that their major demand about the removal...
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Rupee sinks to new low
KARACHI, Oct 15: The rupee sank further on Wednesday to cross another psychological barrier of 80 against the US dollar....
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JSIL declares dividend for income funds
KARACHI, Oct 15: The board of directors of JS Investments Limited (JSIL), the oldest and the largest private sector asset management company with around Rs38.9 billion under management (as of June...
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Banks still facing liquidity shortage
KARACHI, Oct 15: A black hole seems to have appeared in the banking system as billions of rupees are drained every day while banks struggle to maintain the required liquidity....
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Rice market may remain tight: IRRI
MANILA, Oct 15: World rice markets are likely to remain tight next year despite an expected record harvest after key producers clamped down on exports, the International Rice Research Institute (IRRI) said on Wednesday....
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G8 vows unity on crisis
WASHINGTON, Oct 15: Leaders of the Group of Eight (G8) major economies pledged on Wednesday to hold a global financial crisis summit “in the near future” with other key countries....
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Global share markets tumble
LONDON, Oct 15: Mounting fears that global financial turmoil will now spark a recession in Europe and the United States rattled investors and sent share prices plunging on Wednesday....
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India cuts banks’ CRR to boost liquidity
MUMBAI, Oct 15: India’s central bank said on Wednesday it was injecting a further 400 billion rupees ($8.25 billion) into the financial system by cutting the cash reserve commercial banks must hold to 6.5...
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Yen gains against dollar, euro
LONDON, Oct 15: The yen emerged the winner against the dollar and euro on Wednesday, with Japan seen as a relative safe haven in the financial storm amid fears of a sharp and potentially deep recession....
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Karachi Port operations
KARACHI, Oct 15: Eight ships including three cement loaders are expected to arrive at the outer anchorage on Thursday, according to KPT sources....
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Port Qasim
KARACHI, Oct 15: Four ships carrying containers, palm oil, chemicals and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Wednesday....
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Cotton prices rise on slow phutti arrivals
KARACHI, Oct 15: Cotton market on Wednesday maintained a firm trend as ginners further raised their asking prices after growers slowed down phutti sales seeking better rates, floor brokers said....
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BoI to hold investment moots in S. Arabia
ISLAMABAD, Oct 15: The Investment Division and Board of Investment in collaboration with Saudi Ministry of Finance and Consul of Saudi Chamber of Commerce and Industry will be organising investor conferences in Riyadh and Jeddah on October 20 and 21, respectively....
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Dubai group to set up retail hypermarkets
ISLAMABAD, Oct 15: A Dubai-based group will generate 5,000 direct job opportunities in Pakistan by opening the first-ever chain of hypermarkets in 10 cities in the next five years....
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China recalls all dairy items amid health scandal
BEIJING, Oct 15: China was pulling all dairy products more than a month old from shops across the country on Wednesday in one of the biggest steps by authorities to end a deadly scandal over contaminated milk....
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GSM-3G congress
ISLAMABAD, Oct 15: The annual GSM-3G congress and exhibition would take place in Dubai on December 15-16 and is expected to attract interest from telecommunication firms in a wide variety of markets across the region.—APP...
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Company news
KARACHI, Oct 15: Oracle Asia Pacific and Japan has reported 34 per cent increase in new software licence revenues during Q1FY09 compared to same period last year....
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Asian stocks fall on recession fears
HONG KONG, Oct 15: Asian stock markets slid on Wednesday as a global rally eased amid continued fears of recession in the world’s biggest economies....
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Gold prices higher
SINGAPORE, Oct 15: Gold gained more than 1 per cent on Wednesday after declines in stock markets and renewed fears the global economy could be tilting into recession prompted speculators to buy the metal as an alternative investment....
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Palm oil futures lower
JAKARTA, Oct 15: Malaysian palm oil futures ended down nearly 6 per cent on Wednesday on fears that a decline in exports would lead to a build-up of stocks of palm oil products, traders said....
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Karachi market rates
KARACHI, Oct 15: The following were Wednesday commodity market rates in rupees....
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