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| October 22, 2008 | Wednesday | Shawwal 22, 1429 |
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Atlas, KASB, Mybank in queue for sale
KARACHI, Oct 21: A new wave of mergers and acquisitions has swallowed up three more small banks KASB Bank, Atlas Bank, Mybank – leaving no option for them but to change... 
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Banks remain unhurt of global turmoil
KARACHI, Oct 21: The banking system of Pakistan had escaped the ravaging effects of the recent financial turmoil emerging from the US and engulfing the developed European economies, said State Bank Governor Dr Shamshad Akhtar on Tuesday....
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LPG prices reduced by Rs20-35 per 11.8kg cylinder
LAHORE, Oct 21: Lub Gas and Mehran LPG, which together represent Pakistan’s largest marketing setup, on Tuesday reduced prices ranging between Rs20 to 35 per 11.8...
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Most banks run out of dollars
LAHORE, Oct 21: As Pakistan’s finance managers began crucial talks on its economic stabilisation programme with the International Monetary Fund (IMF) on Tuesday in Dubai, most commercial banks back home had already run out of dollars in hard cash....
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Pakistan set to join IMF programme?
KARACHI, Oct 21: Is Pakistan becoming a part of International Monetary Fund assistance programme? This question arises from a meeting of Pakistan’s team of negotiators led by Prime Minister’s Adviser on Finance Shaukat Tareen with IMF officials on Monday at Dubai....
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Foreign firm to set up project at PQ
LONDON, Oct 21: Pakistan High Commissioner to the UK Wajid Shamsul Hasan handed over a letter of intent (LoI) to the chairman of Trans Polymers Limited (TPL) for setting up a petrochemical complex costing $2 billion at Port Qasim....
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Parent raises stake in Unilever Pakistan
Karachi, Oct 21: Unilever Overseas Holdings Limited said on Tuesday that they had acquired 323,548 additional shares in Unilever Pakistan Limited, raising their holdings in the company to 9.68...
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Swelling ATT cargoes hitting local industry
KARACHI, Oct 21: The country’s containerised cargo imports have been registering fall against a rapid rise in imports of containerised cargo under Afghan Transit Trade (ATT) during last four fiscal years....
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Euro falls
LONDON, Oct 21: The euro hit a 19-month low against the dollar on Tuesday on lingering worries about a European economic slowdown as a fresh plan to bolster the US economy boosted the greenback, dealers said....
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Stocks manage modest gains in cautious trading
KARACHI, Oct 21: Stocks on Tuesday lacked normal trading interest as investors were still in two minds about the financial interpretation of the State Bank’s market support package and did not make fresh commitments even on the terribly low-priced blue chips....
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Oil prices slide
LONDON, Oct 21: World oil prices fell sharply on Tuesday on profit-taking, after recent gains made in the expectation that the Opec crude producers’ cartel will cut output later this week....
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Active trading on cotton market
KARACHI, Oct 21: Active trading was witnessed on the cotton market on Tuesday as spinners and mills lifted all the lots offered by the ginners for sale around the ruling prices....
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Poultry rates down in Multan
MULTAN, 21: Poultry prices crashed in southern Punjab to Rs77 per kg, about 25 per cent reduction in two weeks, as demand dipped to its new lows....
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Karachi Port
KARACHI, Oct 21: Eight ships carrying containers and general cargo are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Port Qasim
KARACHI, Oct 21: Three ships with containers, project cargo and crude oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday....
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‘Big gas troika’
TEHRAN, Oct 21: World gas powers Russia, Iran and Qatar moved on Tuesday to strengthen cooperation and Tehran said there was consensus to set up an Opec-style group which is likely to worry western consumer nations....
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Meeting to discuss electricity crisis today
KARACHI, Oct 21: Sindh Minister of Commerce and Industry Rauf Siddiqui apprised the prime minister of the unrest among industrialists over the problem of load-shedding and the tariff hike by the KESC....
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Asian share markets broadly higher
HONG KONG, Oct 21: Asian stocks were broadly higher on Tuesday, with Tokyo and Sydney leading a rally on hopes for a second stimulus package in the United States and a thawing in the credit markets....
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Palm oil loses 1.5pc on outlook, govt delay
KUALA LUMPUR, Oct 21: Malaysian crude palm oil futures ended 1.5 per cent lower on Tuesday after a leading industry analyst gave a bearish forecast amid losses in global vegetable oil markets....
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Money market squeeze could be easing: ECB
FRANKFURT, Oct 21: European Central Bank chief economist Juergen Stark noted on Tuesday some improvement in critical interbank money markets, but warned he could not rule out more banking sector accidents...
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Karachi market rates
KARACHI, Oct 21: The following were Tuesday commodity market rates in rupees....
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