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| November 13, 2008 | Thursday | Ziqa'ad 14, 1429 |
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Panel suggests cuts in PSDP, subsidies and defence outlay
KARACHI, Nov. 12: A straight two per cent increase in one go in discount rate of State Bank of Pakistan was the monetary measure prescription given by a panel of more... 
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19 items exempted from LC margin condition
KARACHI, Nov 12: The State Bank of Pakistan has waived the cash margin requirement on opening of letters of credit (LCs) for importing of 19 products mostly related to textile industry....
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PS reduces prices of its products
KARACHI, Nov 12: The Pakistan Steel (PS) has slashed the prices of its various products by Rs4,500-12,000 per ton following decline in raw material prices in world markets....
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$26.3tr investment in energy by 2030
LONDON, Nov 12: Latest trends in the world energy-consumption call for energy-supply investment of $26.3 trillion up to 2030, or over $1 trillion per year, “yet the credit squeeze could delay...
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KFHA to adopt EU’s standards from Saturday
KARACHI, Nov 12: The Karachi Fish Harbour Authority (KFHA) is going to implement European Union’s specified standard operating procedures (SOP) for marketing of fish catch from Saturday....
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Industry asks for cut in gas tariff
KARACHI, Nov 12: While strongly opposing further increase in gas tariff, the representatives of industry have called upon the government to take steps it had agreed for rationalisation of natural gas pricing regime involving cross subsidies....
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32 foreign firms plan to wind up business
KARACHI, Nov 12: At least 32 foreign companies are planning to wind up their businesses in Pakistan and 122 others may limit their future investment plans because of persisting law and order situation in the country....
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PSO buys 0.1m tons of fuel oil
SINGAPORE, Nov 12: Pakistan State Oil (PSO) has bought 100,000 tons of low-sulphur fuel oil for December, a fifth of their tender requirements, adding to the demand gloom in the market, traders said on Wednesday....
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Rating agencies under fire
BRUSSELS, Nov 12: The European Commission called on Wednesday for a clampdown on credit rating agencies, proposing new rules for them in hopes of helping restore confidence in shell-shocked financial markets....
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G20 summit
PARIS, Nov 12: The upcoming Group of 20 summit of the world’s leading economic powers is only the starting point for reform of the financial markets and practices at the heart of the current crisis, analysts say....
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Stock market stays flat despite discount rate hike
KARACHI, Nov 12: The frozen share market on Wednesday did not show any reaction to the two per cent hike in the interest rate to 15 per cent as investors stayed...
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Oil drops 4pc
NEW YORK, Nov 12: Oil fell 4 per cent to below $57 a barrel on Wednesday as the US government hacked its global demand growth forecast again due to the slumping global economy....
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Circular debt affects POL imports
ISLAMABAD, Nov 12: The import flow of crude and finished petroleum products to Pakistan has been hit hard by circular debt, which has now crossed Rs192 billion....
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Karachi Port operations
KARACHI, Nov 12: Two ships carrying general cargo and containers are due to arrive at the outer anchorage on Thursday, according to KPT sources....
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Cotton prices continue downward slide on panic selling
KARACHI, Nov 12: Cotton prices on Wednesday maintained their downward drift for the third session in a row as ginners indulged in panic selling apparently in sympathy with the current turmoil on the world markets....
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Pakistan’s investment counsellor for UK
LONDON, Nov 12: The Ministry of Investment has appointed Mr Vince Harris OBE, Business Adviser, International Power PLC, as Pakistan’s Honorary Investment Counsellor (HIC) for UK....
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Bad news piles up for Indian economy
NEW DELHI, Nov 12: Bad news is piling up for India’s economy with exports slumping, car sales tumbling and economists cutting growth forecasts amid job losses as the global financial downturn takes hold....
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Port Qasim
KARACHI, Nov 12: Shipping activity remained brisk at the port where four ships scheduled to load, offload containers, palm oil and diesel were berthed at Qasim International Container Terminal (QICT), Multipurpose Terminal (MPT) and Fotco oil terminal, respectively, on Tuesday....
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Delay in rice procurement by Passco harms farmers
MULTAN, Nov 12: The farming community has complained about not getting fair price of their produce despite the government’s directive to Passco to procure one million tons of rice....
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Assurance to business community
KARACHI, Nov 12: Sindh Industries and Commerce Minister Rauf Siddiqui has assured the business community of giving all respect to honour and dignity of the businessmen while dealing with them in legal and other issues....
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Appointed
KARACHI, Nov 12: The board of directors of Orascom Telecom has appointed Rashid Khan as president and CEO of Mobilink (effective from December 1, 2008) in place of Zouhair Khaliq who...
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South Asia has little scope for economic stimulus: WB
TOKYO, Nov 12: South Asian economies, still reeling from food and energy crises, have little scope to boost their economies in the face of the global financial turmoil, a World Bank official said on Wednesday....
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Gold dips in line with oil
LONDON, Nov 12: Gold dipped a touch in Europe on Wednesday as easing oil and industrial metals prices weighed on prices, but the softer dollar limited losses....
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Asian stock markets lower
HONG KONG, Nov 12: Fears over the corporate sector and global economic slowdown saw Asian markets finish down on Wednesday as traders chose to stay on the sidelines....
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Palm oil prices fall
JAKARTA, Nov 12: Malaysian palm oil futures closed nearly 3 per cent lower on Wednesday after recouping some early losses on short-covering, traders said....
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Karachi market rates
KARACHI, Nov 12: The following were Wednesday commodity market rates in rupees....
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