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| December 25, 2008 | Thursday | Zilhaj 26, 1429 |
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Eroding share value adds to banks’ woes
KARACHI, Dec 24: Eroding share prices on the stock market has pushed the banks in a tight corner which are already facing mounting pressure of global meltdown with serious liquidity crunch and poor deposit growth.... 
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Crisis widens appeal of Islamic finance
PARIS, Dec 24: France is becoming the latest country to woo Islamic banks, which avoided much of the damage from the subprime mortgage crisis by following strict principles laid out in...
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Committee proposesrevival of 199 units
ISLAMABAD, Dec 24: The National Assembly was informed on Wednesday that a committee constituted for the revival of sick industrial units has recommended revival of 199 units employing 52,000 workers....
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Task force on maritime industry constituted
ISLAMABAD, Dec 24: The Planning Commission constituted a task force on maritime industry on Wednesday to propose amendments to the Merchant Shipping Ordinance 2001 that would help reduce freight bill by average $4 billion annually....
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Dollar falls on weak US data
LONDON, Dec 24: The dollar dipped against the euro on Wednesday in lacklustre pre-holiday trading, weighed down by new data underlining weaknesses in the US economy....
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Car vendors forsee bleak 1st quarter on low demand
KARACHI, Dec 24: The first quarter of 2009 may prove to be challenging for the auto parts makers, who have received very low orders for parts and accessories from the local car assemblers....
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Low gas pressure affects production in Site area
KARACHI, Dec 24: The production activity at the country’s biggest industrial estate—Site, which houses more than 3,000 medium and large scale units is said to be suffering owing to low and inconsistent gas pressure over the last ten days....
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Stocks slide continues amid dearth of positive news
KARACHI, Dec 24: Stocks finished with an extended fall on Wednesday as leading investors continued to unload long positions at the falling prices in the absence of any positive news both from the political and economic front....
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Uniform rate of vehicle tax likely
KARACHI, Dec 24: All the four provinces have agreed to adopt a uniform rate for motor vehicle registration to prevent diversion of revenue from one province to the other where rates are cheaper....
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US banks to cut payouts
NEW YORK, Dec 24: Bank stocks yielding close to 10 per cent might tempt investors in a market where such income is rare, but the payouts are likely to plummet if not disappear....
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Oil prices drop to 4-year low
LONDON, Dec 24: World oil prices tumbled on Wednesday to strike a four-year low point in London in volatile pre-Christmas trade as economic gloom weighed on the market, analysts said....
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Bank holiday
KARACHI, Dec 24: The State Bank of Pakistan and all offices of the SBP Banking Services Corporation, including the Public Debt Offices, will remain closed on Dec 27 being a public...
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Deal for sale of oil firm
MOSCOW, Dec 24: Russia and Serbia on Wednesday signed a deal on the sale of a 51 per cent stake in the Balkan country’s oil monopoly NIS to Russian gas giant Gazprom.The...
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Cotton prices post fresh gains amid panic buying
KARACHI, Dec 24: Cotton prices on Wednesday posted fresh gains on panic mill buying amid fears of shortage of fine lint in the backdrop of aggressive procurement operations by the Trading Corporation of Pakistan (TCP) during the last couple of sessions....
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Libya buys six oil tankers
TRIPOLI, Dec 24: Libya’s national maritime transport company announced on Wednesday the purchase of six oil tankers valued at a total of $400 million....
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Karachi Port operations
KARACHI, Dec 24: Six ships including two cement loaders to load 32,000 tons of the commodity are expected to arrive at the outer anchorage on Thursday, according to KPT sources....
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Dire economic straits in 2009
MOSCOW, Dec 24: Russia and China issued stark warnings on Wednesday about the impact of the crisis on their recently booming economies in 2009, as stocks and oil prices took a hit from economic gloom over Christmas....
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Indonesia’s firm to clear $680m debt
JAKARTA, Dec 24: The troubled Indonesian business empire Bakrie Brothers has found buyers to settle 680 million dollars’ worth of debts, executives said on Wednesday....
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Asian markets mixed in Christmas lull
HONG KONG, Dec 24: Asian stocks were mixed in reduced Christmas Eve trading on Wednesday, with investors ducking out for the holidays and ever cautious over the grim outlook for the world economy, dealers said....
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Palm oil closes up
KUALA LUMPUR, Dec 24: Malaysian crude palm oil futures ended 1.9 per cent higher on Wednesday as traders closed their positions ahead of the Christmas holiday....
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Gold slips in thin holiday trade
LONDON, Dec 24: Gold slipped in thin holiday trade on Wednesday, shrugging off a weaker dollar, as crude oil prices fell over worries of deteriorating demand....
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Karachi market rates
KARACHI, Dec 24: The following were Wednesday’s commodity market rates in rupees....
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