DAWN - Business; October 26, 2008

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October 26, 2008	Sunday	Shawwal 26, 1429

Businessmen urge govt to avoid IMF: Number of poor rises to 44pc KARACHI, Oct 25: Poor are now well over 44 per cent of Pakistan’s population who include 28 per cent living in abject poverty, Shaukat Tareen, the prime minister’s adviser on finance,...		Ginners suspend trade activities MULTAN, Oct 25: The Pakistan Cotton Ginners’ Association (PCGA) announced on Saturday to stop all kinds of trade activities in cotton and lint till Oct 30 in protest against unscheduled and hours-long loadshedding....

Property prices drop by 15-30pc since Jan KARACHI, Oct 25: Property prices have further declined by at least 15-30 per cent this year as investors have been on the sidelines since 2005 owing to uncertain political and economic conditions in the country....		OICCI asked to invest $3-4bn in Pakistan KARACHI, Oct 25: Adviser to the Prime Minister on Finance Shaukat Tareen on Saturday asked the Overseas Investors Chamber of Commerce and Industry (OICCI) to increase its annual investment to $3 to $4 billion in Pakistan....

Zardari assures review of utility rates KARACHI, Oct 25: President Asif Ali Zardari has said the government will do all in its means to facilitate growth of businesses in the country. He acknowledged that the cost of...		Expo Pakistan to attract 350 foreign buyers KARACHI, Oct 25: Expo Pakistan 2008 is expected to attract around 350 foreign buyers and visitors form 45 countries, including US, UK, Canada, Japan and Middle East....

Decision on gas, power tariffs in two days: KCCI team meets president KARACHI, Oct 25: A delegation of Karachi businessmen in their meeting with President Asif Ali Zardari in Islamabad on Saturday sought immediate withdrawal of recent increase in power tariff for domestic,...		Licence issued to microfinance bank KARACHI, Oct 25: The State Bank of Pakistan on Saturday issued licence to Kashf Microfinance Bank Limited which will commence its operations from Oct 27....

CFS rates stay firm KARACHI, Oct 25: The CFS rates on the Karachi Stock Exchange last week posted a fresh rise of 62 basis points at 60.05 per cent as pressure on money supply did...		Industrial output declines by 5pc ISLAMABAD, Oct 25: Pakistan’s industrial output declined by around five per cent in the first two months of the current fiscal year in the wake of international financial crisis, sending fears...

Vietnam inflation falls HANOI, Oct 25: Vietnam’s consumer prices rose by 26.7 per cent in October against the same month last year, the state-run General Statistics Office (GSO) said in inflation data released on Saturday....		Cotton prices fall below Rs2,800 KARACHI, Oct 25: Cotton prices on Saturday crashed from the current higher levels on ginner panic-selling triggered by disturbing news from the textile export front amid reports of falling world demand....

Assurance to investors ISLAMABAD, Oct 25: Minister for Water and Power Raja Pervez Ashraf on Saturday said the government will facilitate and provide investor-friendly environment to the Chinese and all the foreign investors to attract investment in water and power sector in the country....		Gulf countries for joint response to global crisis RIYADH, Oct 25: Gulf Arab finance ministers and central bank governors held an emergency meeting on Saturday to hammer out a coordinated response to the global financial crisis that threatens to brake their region’s six-year economic boom....

Karachi Port operations KARACHI, Oct 25: Six ships carrying containers, imported wheat and to load cement are expected to arrive at the outer anchorage on Sunday, according to KPT sources....		Port Qasim KARACHI, Oct 25: Three ships carrying edible oil and wheat arrived at the outer anchorage, while one vessel with chemicals was accommodated berth during the last 24 hours, said a PQA press release on Saturday....

‘Slow Food’ seen best solution to crisis TURIN (Italy), Oct 25: The best response to the global financial crisis is to “slow down” and return to local economies that offer better food and help protect the environment, said the founder of the Slow Food movement....		London commodity prices tumble as recession threat shatters confidence LONDON, Oct 25: Commodity markets dived this week, with oil hurtling towards $60 per barrel and gold ducking $700 an ounce as investors eyed a global recession that could hurt demand for raw materials....

Dollar, yen bounce higher NEW YORK, Oct 25: The dollar and the yen bounced higher on Friday in a flight to safety, lifted by mounting fears of a global recession that has pushed the Japanese currency to fresh highs....		Wall Street sees rocky road as Fed meeting looms NEW YORK, Oct 25: Bruised and battered Wall Street faces another test in the coming week with more data to highlight dire economic conditions and a Federal Reserve meeting expected to offer a fresh rate cut....

‘EBRD boss warns bank could make a loss’ LONDON, Oct 25: The European Bank for Reconstruction and Development (EBRD) could register a loss this year due to the effects of global economic turmoil, its president said in an interview published on Saturday....		Slide in crude prices despite output cut RIYADH, Oct 25: The tsunami--that began with the credit crunch in the US housing market-- is now getting furious. After having sent tremors through the global banking and financial sectors it is now out to derail the energy markets....

NY cotton closes weak as recession worries rule NEW YORK, Oct 25: Cotton futures settled lower Friday on renewed investment fund sales sparked by sinking equity and commodity markets and a rallying dollar as players were plummeted by global recession jitters, brokers said....		US rice futures slide CHICAGO, Oct 25: US rough rice futures on the Chicago Board of Trade plunged on Friday, falling in tandem with other financial and commodity markets amid fears of a global recession, traders said....

Karachi market rates KARACHI, Oct 25: The following were Saturday commodity market rates in rupees....

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