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| December 31, 2008 | Wednesday | Muharram 02,1430 |
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ECC calls for plan to avert sugar crisis
ISLAMABAD, Dec 30: The Economic Coordination Committee of the Cabinet has asked the Ministry of Industries and Production to prepare an action plan for import of raw sugar to avoid looming sugar crisis.... 
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Traders demand 10pc cash margin on bank loans: Bumper wheat crop likely
KARACHI, Dec 30: While no official word is available on expected wheat production next spring, market operators, traders and millers are confident of getting a 24 million to 25 million tons...
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Stocks shrug off positive economic outlook
KARACHI, Dec 30: Stocks on Tuesday suffered fresh widespread fall across-the-board on near-panic selling followed by reports of margin calls by the banks on some of the brokers who failed to settle their outstanding dues on some of the counters....
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Pakistani stocks worst performer in region
KARACHI, Dec 30: Pakistani stock market lost 55 per cent of its value (in rupee terms) in the year ended December 2008, placing it at the bottom of the table of all the regional bear markets....
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90-day waiver to exporters with overdue bills: Export finance scheme
KARACHI, Dec 30: The State Bank has provided 90 days waiver for the purpose of availing financing under export finance scheme (EFS) to all exporters, whose export proceeds are overdue till date of issuance of the mew circular issued on Tuesday....
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Banking sector remains strong: SBP
KARACHI, Dec 30: The banking sector has remained remarkably strong and resilient during the last 18 months but the excessive dependence of economy on banking system is quite stark in comparison...
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Bank holiday
KARACHI, Dec 30: The State Bank of Pakistan and all offices of SBP Banking Services Corporation, inclusive of Public Debt Offices, will remain closed for public dealing on Thursday, January 1, 2009, which has been declared as bank holiday....
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Oil prices drop under $40
LONDON, Dec 30: Oil futures dropped back below 40 dollars a barrel on Tuesday as the market focused once more on weak energy demand after hefty price gains a day earlier amid the Israeli-Hamas conflict....
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US consumer confidence hits bottom
WASHINGTON, Dec 30: US consumer confidence plunged to a historic low in December amid the rapidly deepening recession and the outlook for the next six months is “quite dismal,” the Conference Board said on Tuesday....
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New SBP governor hopeful of economic prospects
KARACHI, Dec 30: The new governor of the State Bank of Pakistan is hopeful about economic prospects after tough measures taken to avert an economic crisis, including agreeing to an International Monetary Fund (IMF) lending programme....
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Banks to Reclassify investment in HTM
KARACHI, Dec 30: The State Bank of Pakistan has allowed banks to reclassify their investments in equities, Term Finance Certificates (TFCs) and sukuk categorised as held-for-trading (HFT) to available for sale for held-to-maturity (HTM) as per the guidelines issued earlier.In...
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Restoration of gas pressure to ghee units urged
ISLAMABAD, Dec 30: The Pakistan Vanaspati Manufacturers Association (PVMA) has urged the government to restore supply of gas with adequate pressure to the ghee manufacturing units to avert any shortage of the commodity in the market....
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IMO honours Pakistani mariner
KARACHI, Dec 30: The Secretary General of International Maritime Organisation (IMO) has extended the tenure of Capt Anwar Shah, the governor World Maritime University for another two years from January 19, 2009 to January 18, 2011....
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Cotton prices maintain upward drive
KARACHI, Dec 30: Cotton prices maintained their upward drive for the second consecutive session on Tuesday as spinners and mills continued to make panic buying amid fears of pressure on future supplies of lint....
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Karachi Port operations
KARACHI, Dec 30: Eight ships carrying imported wheat, jute bags and to load cement and containers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Port Qasim
KARACHI, Dec 30:Oil tanker MT Stella carrying 66,611 tons furnace oil arrived at the outer anchorage of Port Qasim while a total of seven ships, MV Orient-II, MV Eastern Sun, MV...
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TCP buys 543,200 bales
KARACHI, Dec 30: The Trading Corporation of Pakistan (TCP) has so far contracted the purchase of 543,200 bales of lint cotton all over the country....
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US big-city home prices slide
NEW YORK, Dec 30: US home prices in the nation’s top 20 cities slumped to March 2004 levels after more record declines through October, according to a Standard & Poor’s/Case-Shiller survey...
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French jobless
PARIS, Dec 30: France’s jobless rate rose 3.2 per cent in November compared to the previous month, and 8.5 per cent year on year, with just over two million out of work, the employment ministry announced on Tuesday.—AFP...
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Asian stock markets close mixed
HONG KONG, Dec 30: Asia’s stock markets closed mixed on Tuesday as investors stayed away ahead of the new year holiday while some of the region’s indexes brought the curtain down on a punishing year....
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Gold slips in London
LONDON, Dec 30: Gold slipped 1 percent on Tuesday as traders took profits after the previous session’s 11-week high and oil prices slid back below $40 a barrel....
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Malaysian palm oil up
JAKARTA, Dec 30: Malaysian palm futures rose more than 5 per cent on Tuesday to finish at a 10-week high on expectations of stronger December palm oil exports, traders said....
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Karachi market rates
KARACHI, Dec 30: The following were Tuesday’s commodity market rates in rupees....
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