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August 31, 2007 Friday Sha'aban 17, 1428 Govt decides not to allow import of sugar: Record cane crop likely ISLAMABAD, Aug 30: With a record 58 million tons of estimated sugarcane crop, the government has decided not to allow import of sugar this season, it is learnt.Informed... Tender issued to import 18,000 tons of petrol KARACHI, Aug 30: Pakistan will now import petrol to meet the surging local demand after massive decline in smuggling of Iranian petrol, especially in Balochistan and other parts of the country....   Plan to set up textile machinery base: Policy being finalised KARACHI, Aug 30: The long-term textile policy proposes to set up a textile machinery manufacturing base in Pakistan to support and sustain textile industry that should attract investment from home and... New systems for SMEs being developed KARACHI, Aug 30: The Small and Medium Enterprises Development Authority (Smeda) will shortly develop systems for SMEs in areas of accounting, technology, production enhancement, packing, storage and logistics.... Release of Indian sugar by customs stayed LAHORE, Aug 30: The local sugar producers obtained a court order on Thursday barring customs authorities from releasing the Indian sugar for the domestic market.... Oil prices near $74 a barrel LONDON, Aug 30: World oil prices rose on Thursday, underpinned by a fall in US energy stockpiles and a partial recovery in equity prices after their recent plunge, analysts said.... Islamic banks earn Rs283m profits KARACHI, Aug 30: Collective profits of all Islamic banks operating in Pakistan could not reach even half a billion rupees last year while the conventional banking generated massive profit for the sector.... Rice, leather, sports goods exports drop ISLAMABAD, Aug 30: Pakistan’s export of traditional products—rice, sports, leather, and footwear have recorded more than 10 per cent decline during the first month of the current fiscal year over the same month of the last year.... 118,000 tons of mangoes exported LAHORE, Aug 30: Pakistan has so far exported 118,000 tons of mangoes, 18,000 tons more than its original target of 100,000 tons and only 2,000 tons less than enhanced target of 120,000 tons.... 5,912 file corporate tax returns ISLAMABAD, Aug 30: As many as 5,912 corporate taxpayers, of the total 6,000, enrolled themselves for filing of sales tax and federal excise returns through the web portal of the Federal Board of Revenue (FBR).... Stocks continue recovery drive with follow-up support KARACHI, Aug 30: The recovery tempo on the share market on Thursday was further accelerated aided by active follow-up support triggered partly by revival of foreign buying in leading banks and... India fears impact of US loan default New Delhi, Aug 30: The Reserve Bank of India cautioned on Thursday any further defaults in the US housing loan market — a crisis, which had caused domestic stock markets to... Reserves KARACHI, Aug 30: The total liquid foreign reserves held by the country stood at $15,818.2 million on Aug 25.... Agreement to provide grants to small farmers signed ISLAMABAD, Aug 30: The Agribusiness Development and Diversification Project and Livestock and Diary Development Board here on Thursday signed an agreement to provide grants to thousands of small farmers in various... Cotton prices fall on phutti arrivals KARACHI, Aug 30: Cotton prices on the Karachi Cotton Exchange on Thursday were quoted lower by Rs25 per maund following steady arrivals of phutti into the ginneries and fixing at the lower rates by the growers.... Modern research centre for tobacco farming ISLAMABAD, Aug 30: Minister for Commerce Humayun Akhtar Khan has said that tobacco is one of the major exports of Pakistan and all necessary steps will be taken to modernise tobacco farming in the country.... Cycle industry suffers from imports ISLAMABAD, Aug 30: The menace of under-invoicing was badly affecting the local manufacturing of bicycles.... Gold edges down LONDON, Aug 30 :Gold slipped on Thursday as caution over global credit conditions hurt sentiment again, with analysts looking to US economic growth data later in the day.... Malaysian palm oil up KUALA LUMPUR, Aug 30: Malaysian crude palm oil futures climbed 1.8 per cent in quiet trade on Thursday as prices of rival soybean oil lifted the market ahead of an independence day holiday.... Karachi Port operations KARACHI, Aug 30: Six ships including those whose arrivals were delayed for a day carrying containers, chemicals and to load cement are expected to arrive at the outer anchorage on Friday, according to KPT sources....

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