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| October 21, 2008 | Tuesday | Shawwal 21, 1429 |
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Hussain Lawai consortium to buy Arif Habib Bank
KARACHI, Oct 20: Hussain Lawai, the erstwhile banker is back into banking. A consortium of foreign and local investors, led by Mr Lawai has expressed interest in acquisition of “substantial shareholding” in Arif Habib Bank Limited (AHBL).... 
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India bars Pakistani, Chinese, HK firms
KARACHI, Oct 20: India has banned investment in infrastructure projects of any company from Pakistan, China and Hong Kong....
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Falling cotton prices to affect wheat sowing
MULTAN, Oct 20: The rapid fall in cotton prices at the peak picking season has perturbed the farmers, who fear that the situation could affect the wheat sowing process on a large scale....
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Rupee recovers 2.2pc against dollar
KARACHI, Oct 20: The State Bank on Monday entered the exchange rate market with such strength that the rupee recovered 2.2 per cent against the dollar....
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Bristol-Myers Squibb leaving
KARACHI, Oct 20: Bristol-Myers Squibb (BMS), a multinational foreign pharmaceutical manufacturing company, is in the process of winding up its local operations, but the Pharma Bureau (PB) has not confirmed the packing up of the company....
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NIT earns profit in first quarter
KARACHI, Oct 20: National Investment Trust (NIT) has earned a net profit of Rs149 million and Rs142 million in respect of LOC Fund and non-LOC Fund....
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Exporters delegation to visit Russia
KARACHI, Oct. 20: The Trade Development Authority of Pakistan (TDAP) is sponsoring a trade delegation to Russia in the near future, the chief executive of TDAP Syed Mohibullah Shah informed a meeting of ten major buying houses....
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Oil prices rise by $2
LONDON, Oct 20: Oil prices rose $2 on Monday on growing signs that Opec will announce production cuts at a special meeting in Vienna this week in a bid to shore up the revenues of member countries, dealers said....
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FCA to set wheat crop target today
ISLAMABAD, Oct 20: The Federal Committee on Agriculture (FCA) will meet here on Tuesday to review food security in the country and set targets for Rabi crop production for the year 2008-09....
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Euro falls against dollar, yen
LONDON, Oct 20: The euro sank against the dollar and the yen on Monday as uncertainty gripped currency markets in spite of world leaders’ steps to tackle a financial crisis and looming recession, analysts said.In...
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Bernanke backs US stimulus plan
WASHINGTON, Oct 20: The chairman of the Federal Reserve, Ben Bernanke, endorsed the idea of a second US economic stimulus plan this year on Monday after warning of a possible “protracted slowdown.”“With...
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KSE 100-share index shows fractional rise
KARACHI, Oct 20: The stock market on Monday again resumed trading on a dull note as investors were not enthused by the weekend positive steps taken by the State Bank to...
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Unisame’s plea to Customs
KARACHI, Oct 20: The Union of Small and Medium Enterprises (Unisame) has urged the Customs to reopen the Care (Customs administrative reforms system) for rice exports as the minimum export price (MEP) condition has been waived....
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Multiple criteria for resource allocation urged
KARACHI, Oct. 20: A meeting of prominent citizens, economists and social activists on Monday rejected the present system of resources distribution among the provinces on the basis of single factor—population—and unanimously demanded multiple criteria for this purpose....
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Brisk buying on cotton market
KARACHI, Oct 20: Trading on the cotton market on Monday resumed on a steady note as spinners and mills continued to build-up long positions in the local stuff owing to unsettled conditions on the foreign trading centres....
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Financial crisis hits China’s growth
BEIJING, Oct 20: The worst financial crisis in decades is slowing China’s growth, the government said on Monday, as gloomy news from other nations deepened worries about a worldwide recession....
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India faces slowdown due to global turmoil: PM
NEW DELHI, Oct 20: India must brace itself for slower growth due to worldwide financial turmoil, Prime Minister Manmohan Singh warned on Monday, as the central bank cut a key lending rate to shore up the economy....
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Karachi Port operations
KARACHI, Oct 20: Five ships carrying containers and general cargo are due to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Port Qasim
Two container ships were accommodated berths during the last 24 hours, said a PQA press release on Monday....
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Kuwait stocks dive
KUWAIT CITY, Oct 20: Kuwaiti stocks dived to a 19-month low on Monday on fears about the future of troubled investment companies in the emirate, but most other Gulf markets finished higher....
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Asian share markets mostly higher
HONG KONG, Oct 20: Asian stocks were mostly up on Monday as bargain hunters stepped in following plunges in the previous session and on optimism after world leaders announced summits to reform global finance....
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Gold prices lower
LONDON, Oct 20: The gold to nickel price ratio, a key indicator of economic performance, could fall into single digits if the recession is as deep as that of the early 1980s, Deutsche Bank said....
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Karachi market rates
KARACHI, Oct 20: The following were Monday commodity market rates in rupees....
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