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| February 06, 2008 | Wednesday | Muharram 27, 1429 |
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Weak service sector raises recession fears in US
WASHINGTON, Feb 5: A dismal survey released on Tuesday of the services sector of the US economy showed a contraction for the first time in nearly five years in January, raising the odds that a recession is at hand, analysts said.... 
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Concern voiced over paper prices
LAHORE, Feb 5: Lahore Chamber of Commerce and Industry President Mohammad Ali Mian has assured the paper merchants that he would take up the issue of rising paper prices with the authorities concerned....
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External debt hits$40.322bn in 4 years
KARACHI, Feb 5: How much the government added to the external debt is much more important than the build-up of a heap of new record domestic debt, adding a trillion rupees to the total....
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Cooking oil, ghee prices set to rise
ISLAMABAD, Feb 5: Consumers are set to receive another shock as leading packer will increase the rates of cooking oil and ghee by at least Rs5 per kg in the next...
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Eximbank to finance public sector projects
ISLAMABAD, Feb 5: The United States’ Eximbank will provide grants, technical training, support for preparation of feasibilities and debt financing and project loans for the public sector of Pakistan....
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No panic buying ahead of polls
KARACHI, Feb 5: Consumers have shown no signs of panic buying ahead of Feb 18 elections, although they had an experience of paying more than the original price of edible items during Dec 27-30 violence owing to scarcity of items....
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US shares dip
NEW YORK, Feb 5: Wall Street shares took a nosedive on Tuesday after a surprisingly weak reading on US service sector activity intensified fears about a recession in the world’s biggest economy....
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Higher ethanol exports likely this season
KARACHI, Feb 5: The expected bumper sugarcane crop of over 60 million tons this season may allow distilleries to produce a record 280,000 to 300,000 tons of ethanol which could fetch...
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Banks told to explain charging high rates: High-ups summoned on 12th
ISLAMABAD, Feb 5: Top executives of 42 banks have been asked to appear before the Competition Commission in Karachi on Feb 12 to disprove the suspicion that they had been fleecing depositors as a “cartel”....
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Euro slides
NEW YORK, Feb 5: The euro fell against the dollar and the yen on Tuesday after weak eurozone service sector data fed expectations that the European Central Bank might have to cut interest rates to shore up growth....
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Poultry sector faces Rs1bn loss
MULTAN, Feb 5: Poultry farming sector has suffered a loss of over Rs20 million in one week as a result of reduction in prices as well as low consumption of poultry meat due to bird flu scare....
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Ukraine signs WTO entry pact
GENEVA, Feb 5: Ukrainian President Viktor Yushschenko on Tuesday signed an agreement here that will enable Ukraine to join the WTO after nearly 15 years of often torturous negotiations....
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Albaraka eyes $40m share sale in Pakistan
MANAMA, Feb 5: Bahrain Islamic lender Albaraka Banking Group said on Tuesday it was eyeing a $40 million share sale in Pakistan and an Indonesian acquisition of about $60 million to expand the industry’s largest branch network....
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Oil prices tumble
LONDON, Feb 5: Oil prices fell below $90 per barrel on Tuesday and accelerated losses after fresh disappointing data stoked concerns over energy demand from the United States, a key consumer, analysts said....
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$77bn ‘City of Silk’
KUWAIT CITY, Feb 5: The oil-rich Gulf state of Kuwait plans to build a major new city inspired by the Silk Road that it hopes will become a global trade and tourist attraction, an executive said on Tuesday....
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