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| November 26, 2008 | Wednesday | Ziqa'ad 27, 1429 |
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SBP moves to avert banks’ collapse
KARACHI, Nov 25: In a major move, the State Bank on Tuesday cut the Capital Adequacy Ratio (CAR) to nine per cent, enabling banks to adjust under the prevailing credit crunch and low deposit mobilisation situation.... 
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Brands are vital for economic progress, says PM
KARACHI, Nov 25: Prime Minister Yousuf Raza Gilani on Tuesday said that the 9-point economic agenda of the government would help regain the momentum of economic growth in a reasonable period of time by keeping inflation rate on the lower side....
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Rupee firms against dollar
KARACHI, Nov 25: The rupee firmed on Tuesday a day after the International Monetary Fund (IMF) approved a $7.6 billion loan to avert a balance of payments crisis....
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Changes sought in SBP circular on R&D
KARACHI, Nov 25: Exporters have taken strong exception to State Bank’s decision to only allow Research and Development (R&D) support for shipments made between June 26 and 30, 2008....
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KASB funds clarification
KARACHI, Nov 25: Regarding a news item published on Nov 11, “Two brokers default, two funds stop redemption,” The KASB Funds observes that the KASB Liquid Fund (KLF) and the KASB...
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End to stock stalemate not in sight
KARACHI, Nov 25: The end to a stalemate at the Karachi Stock Exchange was not in sight as the KSE 100-share index remained glued to the old level of 9,187.10...
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Tyres still selling at higher prices
KARACHI, Nov 25: The international prices of rubber and butyl rubber, raw materials used in tyre and tube making, have fallen sharply in the last few months, but its impact has yet to be seen in the local tyre market....
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Fed offers $800bn to revive credit markets
WASHINGTON, Nov 25: US authorities launched fresh efforts on Tuesday to unfreeze credit and limit the economic downturn with programmes to buy up to $800 billion in mortgage- and asset-backed securities....
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India may review export tax on basmati
NEW DELHI, Nov 25: India may review its export tax on basmati rice and allow overseas sales at a lower price as it is losing market share to Pakistan, a trade official said on Tuesday....
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Fresh fall in cotton prices
KARACHI, Nov 25: In the absence of buying interest from mills, the local cotton market recorded a fresh fall in prices when trading resumed on Tuesday....
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Karachi Port operation
KARACHI, Nov 25: Seven ships, Ratna Urvi, Al-Marwah, Sterlin, Madre, carrying oil, chemicals, palm oil, general cargo and DD Master, to load cement, and container vessels, Mol Ability and Kanivu, berthed at the Karachi Port during the last 24 hours....
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Port Qasim
KARACHI, Nov 25: Brisk shipping was witnessed at the Port Qasim where four ships scheduled to load, offload containers, palm oil, crude oil and chemicals were accommodated berths at the Qasim...
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World stocks narrowly mixed
LONDON, Nov 25: Global stock markets were narrowly mixed on Tuesday as investors took quick profits on some of the massive gains made over the past two days following the bailout of US banking giant Citigroup....
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Greece fines 2 firms for price-fixing
ATHENS, Nov 25: Greece’s state competition watchdog has fined British energy giant BP and Anglo-Dutch counterpart Royal Dutch Shell nearly 50 million euros ($63 million) for price-fixing, the body said on Tuesday....
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Lasbela chamber
KARACHI, Nov 25: Dr Muhammad Aslam had been elected president and Ismail Suttar, vice-president, of the Lasbela Chamber of Commerce and Industry (LCCI) for the year 2008-09, says a press release....
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Oil prices slide
LONDON, Nov 25: Oil prices slid on Tuesday as traders banked profits following sharp gains won a day earlier, analysts said....
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Modaraba Association
KARACHI, Nov 25: Muhammad Shoaib of First Habib Modaraba was elected chairman and Murtaza Ahmed Ali of Allied Rental Modaraba, vice-chairman of Modaraba Association of Pakistan for the year 2008-09....
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Election
KARACHI, Nov 25: Khalil Sattar and Mohammad Javed Aslam have been elected as chairman and vice-chairman of Pakistan Poultry Association (PPA), southern zone, respectively, for the year 2008-09, says a press release....
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Asian stocks soar on Citigroup bailout
HONG KONG, Nov 25: Asian markets surged on Tuesday following a rally on Wall Street after the US government agreed a massive support package for banking giant Citigroup....
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Gold lower in Europe
LONDON, Nov 25: Gold fell 2 per cent in Europe on Tuesday as a firmer dollar and softer oil prices prompted profit taking after the previous session’s near six-week highs....
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Palm oil prices recover
KUALA LUMPUR, Nov 25: Malaysia said on Tuesday it was confident crude palm oil prices will recover from a dramatic slump, thanks to an increase in demand from the world’s top consumers, India and China....
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Karachi market rates
KARACHI, Nov 25: The following were Tuesday commodity market rates in rupees....
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