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| December 21, 2008 | Sunday | Zilhaj 22, 1429 |
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Bostan-Zhob tracks sold at throwaway prices
QUETTA, Dec 20: Instead of implementing a proposed plan to link Balochistan with the NWFP via Zhob-Dera Ismail Khan railway line, the Pakistan Railways disposed of its property between Bostan-Zhob railway section worth billions of rupees at throw-away prices.... 
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Integration of South Asian economies urged
KARACHI, Dec 20: Dr Shamshad Akhtar, Governor, State Bank of Pakistan, said on Saturday that there was a need for sustained efforts to achieve a common platform for integration of South Asian economies to facilitate timely trade payments and remittances....
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Thar coal initiative losing vigour
KARACHI, Dec 20: As Punjab government sets stage to receive a team of Chinese investors shortly to discuss power generation project based on Mianwali coal reserves, nothing seems to be happening...
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Sliding oil markets shrug off Opec move
RIYADH, Dec 20: Amid ever-worsening economic news, rising stockpiles and forecast that US oil consumption will be virtually flat for 20 years, oil markets continued to tumble struggling in mid $30s despite Opec’s largest-ever single production cut of 2.2...
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Pakistan given VAT refund facility by Germany
ISLAMABAD, Dec 20: The German government has agreed to include Pakistan in the list of countries whose business entities can claim refund for Value Added Tax (VAT)....
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Cement export to India declines
KARACHI, Dec 20: Cement export to India has shown a declining trend, mainly owing to slowdown in construction and development works....
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Property rates fall 20-30pc this year
KARACHI, Dec 20: Real estate agents have offered mixed views on the impact of Mumbai attacks on the property prices. Some think that the prices of plots are intact, while others say these have declined by five to 15 per cent....
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New policy to expand tax net
SIALKOT, Dec 20: Chairman Federal Board of Revenue (FBR) Ahmad Waqar has said that the board will soon evolve a tax policy with the sole aim to bring maximum people under the tax net....
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Credit to farm sector rises to Rs74bn
KARACHI, Dec 20: The State Bank on Saturday reported that disbursement of credit to agriculture sector by commercial and specialised banks increased 7.80 per cent year-on-year to Rs74.504...
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Bush defends rescue of automakers
WASHINGTON, Dec 20: President George W. Bush defended on Saturday his decision to give financial aid to struggling US automakers, arguing that their uncontrolled bankruptcy could plunge the United States into a deeper recession....
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Mufap extends support to small brokers
KARACHI, Dec 20: The Mutual Fund Association of Pakistan (Mufap), known to be one of the few large financiers in the CFS MK-II (badla) market, showed willingness to provide Rs100 million in support to each of the 100 small brokers (financees)....
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Cotton contracts
KARACHI, Dec 20: The Trad-ing Corporation of Pakistan (TCP) has so far made contracts for procurement of 147,000 bales --91,000 bales from Punjab, 55,600 from Sindh and 400 from Balochistan....
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Algerian trade surplus grows
ALGIERS, Dec 20: Opec member Algeria’s trade surplus rose to $41.93 billion in the first 11 months of 2008 from $29.22 billion in the same period last year, official figures showed on Saturday....
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Cotton trading fails to pick up
KARACHI, Dec 20: Trading on the cotton market on Saturday failed to pick up as spinners and mills remained conspicuous by their absence owing to delivery problems....
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Karachi Port operations
KARACHI, Dec 20: Three ships carrying urea, containers and crude oil, are due to arrive at the outer anchorage on Sunday, according to KPT sources....
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Port Qasim
KARACHI, Dec 20: Three ships carrying containers, chemicals and iron ore were accommodated berths at the Qasim International Container Terminal, Engro Vopak Terminal and Iron ore and Coal Berth respectively during the last 24 hours....
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Karachi market rates
KARACHI, Dec 20: The following were Saturday’s commodity market rates in rupees....
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Oil prices decline as commodities reel in London
LONDON, Dec 20: Oil prices fell this week to their lowest levels since 2004, despite a record Opec output cut, while many commodities were dragged lower on fears of a looming global recession and weak demand....
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NY cotton closes higher
NEW YORK, Dec 20: Cotton futures settled higher on Friday in another choppy session, and erratic trading is likely to persist through the end of the year, brokers said....
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Dollar rallies as auto bailout eases worries
NEW YORK, Dec 20: The dollar stormed back on Friday from steep losses on the euro earlier in the week after a massive rescue announced for two of the Big Three US automakers eased worries about the world’s biggest economy....
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Wall Street mixed
NEW YORK, Dec 20: Wall Street ended mixed on Friday as an early rally sparked by a 13.4-billion-dollar US government rescue of General Motors and Chrysler ran out of gas....
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