DAWN - Business; October 25, 2008

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October 25, 2008	Saturday	Shawwal 25, 1429

Special trading session shrouded in uncertainties KARACHI, Oct 24: Until at around mid-night on Friday, the special trading session supposed to be held on Saturday stood shrouded in uncertainties as no official word was heard from either...		French envoy asks govt to work for GSP+, FTA KARACHI, Oct 24: Danel Jouanneu, Ambassador-designate of France, has advised the government to take up the matter of Generalised System of Preferences (GSP) Plus with the European Union (EU) vigorously so...

Country has 990,000 tons of DAP stocks ISLAMABAD, Oct 24: Federal food and agriculture minister Nazar Mohammad Gondal said on Friday that there was no shortage of wheat and fertilisers in the country, but some profiteers and hoarders were creating their artificial shortage....		Weekly inflation surges by 30.38pc ISLAMABAD, Oct 24: Weekly inflation measured through the sensitive price index (SPI) surged by 30.38 per cent during the week ended on Oct 23 over the corresponding week of last year, Statistics Division said on Friday....

MCB, HBL show strong growth KARACHI, Oct 24: Both the Habib Bank and the MCB Bank showed strong growth in the first nine months of the calendar year, but their profit growths were slightly higher than the corresponding period of last year....		Sindh BoR collectsRs1.1bn in July-Sept KARACHI, Oct 24: The Sindh Board of Revenue (BoR) raised over Rs1.1 billion revenue from stamp duty and property transactions fee during the first quarter July-Sept 2008-09 compared to over Rs1 billion in the same quarter last year....

Euro, pound slump on economic slowdown LONDON, Oct 24: The euro fell to a two-year low under $1.25 on Friday and the British pound sank to a six-year trough against the US unit as evidence mounted of slowing economic growth in Europe....		Gilani invites Chinese firms BEIJING, Oct 24: Prime Minister Yousuf Raza Gilani on Friday urged the Chinese companies to invest in Pakistan in a big way, strengthening the bonds of ever-lasting Sino-Pak friendship through economic diplomacy....

Sugar tender KARACHI, Oct 24: The Trading Corporation of Pakistan (TCP) has floated a tender for the purchase of 50,000 tons of refined sugar from local mills....		Britain on brink of recession LONDON, Oct 24: The British economy is on the edge of a recession, according to official data on Friday which showed that it shrank by 0.5...

PSO records decline in profit KARACHI, Oct 24: Rise in retail prices of various products pushed up sales revenue of the Pakistan State Oil (PSO) to Rs222 billion in July-September 2008-09 as compared to Rs122 billion in the same period of 2007-08....		Stocks maintain easy trend KARACHI, Oct 24: The stock market finished the last session with downside capped on Friday on a dull note as investors kept to the sidelines awaiting the removal of the �floor�...

Crisis exposes emerging economies PARIS, Oct 24: Emerging market countries, their once vibrant economies now under increased strain in the global finance crisis, can no longer be counted on help prop up world stock markets....		PNC to become fifth largest US bank WASHINGTON, Oct 24: US regional bank PNC, tapping into a Treasury emergency fund, said on Friday it is buying National City in a $5.6 billion deal to create the nation�s fifth largest bank by deposits....

Car firms slash jobs, production worldwide PARIS, Oct 24: The global financial storm ravaged the motor industry on Friday, forcing car and truck firms on three continents to announce job losses, production cuts, temporary plant closures and plunging orders....		Karachi Port operations KARACHI, Oct 24: Ten ships carrying raw jute, containers and to load cement are due to arrive at the outer anchorage on Saturday, according to KPT sources....

Cotton prices ease on active selling KARACHI, Oct 24: Cotton market on Friday remained under pressure for the fourth session in a row as prices were quoted further lower by Rs50 per maund amid active ginner selling....		Port Qasim KARACHI, Oct 24: Four ships to load/offload containers, iron ore and phosphoric acid were accommodated berths during the last 24 hours, said a PQA press release on Friday....

Indian rupee slides to record low NEW DELHI, Oct 24: India�s currency plunged to a record low against the dollar on Friday, breaching the 50-rupee level, but the government called the dive an �aberration.�...		Stringent security for Expo-2008 KARACHI, Oct 24: Sindh Home Minister Dr Zulfikar Mirza has directed the Inspector General Police to ensure foolproof security arrangements for foreign participants of Expo Pakistan-2008, which will start here from October 27....

Kapco posts profit KARACHI, Oct 24: Kot Addu Power Company (Kapco) posted a profit-after-tax of more than Rs1.536 billion for the first quarter of 2008-09, but did not declare a dividend....		AH Securities report losses KARACHI, Oct 24: Arif Habib Securities has reported a loss-after-tax of Rs269.903 million for the first quarter of 2008 due to steep fall in stock market....

China to shed millions of jobs DONGGUAN, Oct 24: At least 2.7 million factory workers in southern China could lose their jobs as the global economic crisis hits demand for electronics, toys and clothes, according to industry estimates....		Gold slides in Europe LONDON, Oct 24: Gold fell nearly 5pc in Europe on Friday as a surge in the US dollar curbed interest in the precious metal as a currency hedge, and oil prices fell more than $2 a barrel....

Eurozone business activity slumps BRUSSELS, Oct 24: Business activity in the 15 nations that use the euro slumped to a record low in October as the credit crunch caused a demand slump, according to a survey released on Friday....		US existing home sales rise 5.5pc WASHINGTON, Oct 24: US existing home sales rose by an unexpected 5.5 per cent in September as buyers were attracted by falling prices, an industry survey showed on Friday....

Malaysian palm oil lower KUALA LUMPUR, Oct 24: Malaysian crude palm oil futures slumped by its daily 10 per cent trading limit on Friday as crude oil posted heavy losses amid fears of a build-up in supplies, traders said....		Karachi market rates KARACHI, Oct 24: The following were Friday commodity market rates in rupees....

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