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December 26, 2007 Wednesday Zilhaj 15, 1428 BD wants Saarc food bank made functional DHAKA, Dec 25: The food and disaster management adviser of Bangladesh believes that delay in the process of setting up of a Saarc Food Bank has deprived the country of accessing... Dollar stays Firm in Asia TOKYO, Dec 25: The dollar stayed firm in Asian trade on Tuesday as investors welcomed a large cash infusion into Merrill Lynch amid the subprime mortgage woes, dealers said....   Russia to raise oil export duty by 21pc MOSCOW, Dec 25: Russia will raise duties on oil exports to around 333 dollars per ton from February 1, a 21 per cent hike, a finance ministry official was quoted as saying on Tuesday.“The... China plans to import 500,000 tons of diesel BEIJING, Dec 25: China’s Sinopec Corp. plans record diesel imports of 500,000 tons in January to help cover domestic shortages, after Beijing scrapped a key import tariff, a company-owned paper reported on Tuesday.... FPCCI chief for free, fair elections LAHORE, Dec 25: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday urged the government to ensure free, fair, and impartial general elections for political stability, promotion of democracy and economic development in the country.... Turkish trade deficit increases ISTANBUL, Dec 25: Turkey’s November foreign trade deficit is seen increasing 22 per cent annually due to high fuel prices and high imports offsetting a rise in exports, a Reuters poll showed on Tuesday.... Japan to spend $2bn to ease oil price impact TOKYO, Dec 25: Japan will spend 215 billion yen ($1.9 billion) on a package of measures to ease the pain felt by the public from high oil prices, which includes cutting expressway tolls and boosting financing help for small firms.... Chinese banks’ strength yet to be tested BEIJING, Dec 25: China’s state lenders have reported impressive growth in earnings but harder times may be on the way, testing their ability to withstand a downturn, a top banking regulator cautioned on Tuesday.... Kazakhstan seeks stake in oil field ASTANA, Dec 25: Kazakh Energy Minister Sauat Mynbayev said on Tuesday his country was seeking a 16.8 per cent stake in the giant Kashagan oilfield, confirming earlier plans to get a stake equal to those of the projects’ largest participants.... Pakistan Exports 32,500 tons of kinno LAHORE, Dec 25: Pakistan exported 32,500 tons of kinno till Dec 17 when the Eid festivities and holidays temporarily suspended the process.... Russian bank investing in London property MOSCOW, Dec 25: Russia’s second largest bank is investing some $260 million in a residential development project in London, the RBK business daily reported on Tuesday, citing lawyers.... Singapore firm buys big stake in US bank WASHINGTON, Dec 25: US investment bank and brokerage Merrill Lynch said on Monday it had raised a potential $6.2 billion, mostly from a Singapore state-owned investment fund that will buy $4.4... $210 million Egyptian bonds CAIRO, Dec 25: Egypt’s Orascom Construction Industries said on Tuesday it will redeem all of its outstanding third issue bonds, with a total value of 1.16 billion Egyptian pounds ($210.36 million).... Russia to keep oil wealth in bonds MOSCOW, Dec 25: Russia will keep its $151 billion oil and gas fund entirely in sovereign bonds next year and will not invest a $19 billion sub-fund in corporate debt or stock, a top Finance Ministry official told Reuters on Tuesday.... Japan stocks higher TOKYO, Dec 25: A rally on Wall Street and a soft yen will likely boost Japanese stocks across the board on Tuesday, particularly benefiting exporters such as Canon Inc, while financial... TCP floats Tender for sugar purchase KARACHI, Dec 25: The Trading Corporation of Pakistan (TCP) has floated a tender for the purchase of 50,000 metric tons of refined sugar from local mills.... China central bank auctions $2.7bn bills SHANGHAI, Dec 25: China’s yield flattened on Tuesday as most bill yields through one year rose in response to a high-than-expected yield at a central bank auction, but medium-and longer-term debt continued to range-trade.... Oil prices hurting corporate sentiment TOKYO, Dec 25: Big Japanese firms were less confident about conditions in the three months to December than in the previous quarter, a government survey showed on Tuesday, suggesting rising oil prices and financial market volatility were hurting corporate sentiment.The... Vietnamese inflation to hit 12.6pc HANOI, Dec 25: Vietnam estimated on Tuesday its consumer prices in December would be 12.63 per cent higher than a year earlier, rising at the fastest rate in a decade due to rising cost of housing, food and fuel prices.... Plan to issue $8.2bn bonds SHANGHAI, Dec 25: Huaneng Power International Inc said on Tuesday it would issue 60 billion yuan ($8.2 billion) of corporate bonds this week.... Ukraine raises gas price ceiling KIEV, Dec 25: Ukraine’s government has raised the gas price ceiling for industrial consumers by 30 per cent for next year following a price increase for imported gas likely to intensify pressure on local producers and fuel inflation.... US retailers holiday sales up NEW YORK, Dec 25: US specialty apparel retailers saw sales rise 3.6 per cent in holiday shopping, at the lower-end of expectations, according to data released on Tuesday by SpendingPulse.... Japanese bonds slide on equities rally TOKYO, Dec 25: Japanese government bond futures fell sharply on Tuesday in thin trade ahead of the year-end, hurt by a rise in Tokyo share prices and the previous day’s falls in US Treasuries.... Company news TOKYO: Japanese electronic makers Matsushita, Canon and Hitachi said on Tuesday they will form an alliance in liquid crystal panels in the latest tie-up in the lucrative but cutthroat sector....

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