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June 14, 2006 Wednesday Jumadi-ul-Awwal 17, 1427 Precipitous fall in KSE market capital KARACHI, June 13: Share prices fell further on the Karachi Stock Exchange on Tuesday, where the KSE-100 index plunged by a massive 418 points to close at the year’s lowest level of 9,315 points.... Govt vows to overcome energy crisis KARACHI, June 13: The government will resort to stringent controls on energy saving and its conservation which may even affect the economy in case international oil prices touch $80-100 a barrel,... Smuggling of rice to Iran hits official trade KARACHI, June 13: High import duty on rice by Iranian government is encouraging smuggling and a large number of trucks loaded with ‘Super Kernal’ rice daily cross Pak-Iran boarder to avoid 40pc duty.... 3 IT officers suspended ISLAMABAD, June 13: The Chairman CBR Abdullah Yousuf on Tuesday suspended three senior income tax officials posted at Zone-A, Southern Region, Karachi. According to the CBR notifications issued here the officers,... Importers want their sugar stock lifted KARACHI, June 13: Sugar scene in Pakistan is becoming murkier with about two dozen importers are desperate to dispose of their about 200,000 tons stock on discount to the government because... Pakistan may lose ownership rights of basmati rice ISLAMABAD, June 13: Red-tapism could deprive Pakistan of losing its ownership rights of ‘super basmati’ rice as India looks set to include the commodity on its Seed Act, which will ultimately... Oil prices drop to $68.95 LONDON, June 13: World oil prices fell on Tuesday on news that the first tropical storm of the US Atlantic hurricane season, Alberto, would miss energy infrastructures in the Gulf Coast, dealers said.... Body to promote growth of debt market ISLAMABAD, June 13: The Securities and Exchange Commission of Pakistan (SECP) has constituted a high-powered committee of bankers headed by its chairman, Razi ur Rehman Khan to identify hurdles in the... 40pc market hit by 50pc decline in sales KARACHI, June 13: As many as 40 per cent markets in the city are witnessing a 50 per cent decline in their daily sales because of closure of shops at 8pm from June 9.... Procedure for subsidy disbursement KARACHI, June 13: The State Bank has announced the procedure for disbursing subsidy on the import of whole black gram. The central bank in a circular issued here on Tuesday said... Panic-selling wipes out 417 points as rescuers leave arena KARACHI, June 13: The KSE 100-share index on Tuesday received another massive battering on renewed selling in most of the leading base shares under the lead of bank and oil sectors... Slow trading on cotton market KARACHI, June 13: Physical activity on the cotton market on Tuesday was relatively slow as spinners and mills awaited the outcome of their bids against the TCP tender for the sale of 30,000 bales.... Islamic banking service in Britain LONDON, June 13: Lloyds TSB, the fifth-biggest British bank, began on Wednesday to roll-out its Islamic financial services across the country following a successful pilot scheme, an official statement said.... Govt bodies hold differing views: Tax-to-GDP ratio ISLAMABAD, June 13: Three major government''s institutions have differed with each other over the finalization of country’s tax-to-GDP ratio, making the whole process of determining this ratio `dubious''.... SBP conducts two OMOs in single day KARACHI, June 13: The State Bank conducted open market operations (OMO) twice on Tuesday, as it rejected first and picked up liquidity second time at a lower rate.... Donors’ assistance sought to cut poverty ISLAMABAD, June 13: The government is seeking sizable additional foreign assistance from the World Bank and the Asian Development Bank (ADB) to alleviate poverty especially in the rural areas during 2006-07.... Offering of KESC shares to workers approved ISLAMABAD, June 13: The Privatisation Commission Board (PCB) here on Tuesday approved a proposal to offer shares of the Karachi Electric Supply Company (KESC) to its employees.... Karachi Port operations KARACHI, June 13: Six ships carrying containers, general cargo and to load rice are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Clarification KARACHI, June 13: Shaheen Air International has clarified that it was designated as the second national carrier of Pakistan on October 25, 1994 by the then prime minister.... Asian stocks in trouble HONG KONG, June 13: Asian stocks were in deep trouble again Tuesday, led down by Tokyo, with nervous investors bracing for key US price data as the US central bank warned anew of the dangers of inflation.... Gold prices LONDON, June 13: Gold prices fell to a two-month low below $600 per ounce on Tuesday as investors continued to turn away from the precious metals market.... European stocks nosedive LONDON, June 13: European shares nosedived on Tuesday, after a bloodbath in the Tokyo stock market, sparked by renewed concerns over prospects for rising inflation and interest rates in the United States, dealers said....

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