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March 14, 2008 Friday Rabi-ul-Awwal 5, 1429 Caretakers set fresh record of borrowing KARACHI, March 13: The caretaker government has set a new record of borrowing which has pushed inflation to a record high, ruining all the efforts made by the previous government for economic improvement.... Cement exporters scramble to fetch higher prices KARACHI, March 13: Pakistani cement producers are scrambling to load cement bags on ships sailing to Dubai in order to take advantage of 40 per cent jump in prices over the past eight months....   NIB Bank admits error, denies wrongdoing KARACHI, March 13: NIB Bank President Khawaja Iqbal Hassan has said that his bank regrets the error that had crept up in the reporting of consolidated financial figures on Feb 27,... Pakistan on provisional iTraxx indexes HONG KONG, March 13: Markit has included Pakistan in the new iTraxx credit default swap indexes that cover Asia excluding Japan, indicating increasing interest in the country from credit investors.... KSE index sheds 96 points on lack of support KARACHI, March 13: Stocks on Thursday again turned lower as follow-up support remained conspicuous by its absence even on the blue chips counters as investors played safe awaiting fresh positive developments... Overspending causes budget deficit ISLAMABAD, March 13: The overspending of public sector development allocations by the former ruling party just before elections caused a higher than expected budget deficit for the current fiscal year, Dawn has learnt.... Ogra for lifting ban on new CNG stations LAHORE, March 13: The ban on new CNG stations is a temporary one and should soon be lifted, said Oil and Gas Regulatory Authority (Ogra) Senior Executive Director Javed Nazir here on Thursday.... SBP chief for corporate governance in banking LAHORE, March 13: State Bank of Pakistan Governor Dr Shamshad Akhtar has said that corporate governance is necessary for ensuring transparency, fairness and accountability in the banking system.... UPS, battery prices surge on high demand KARACHI, March 13: Consumers have begun purchasing uninterrupted power supplier (UPS) early this year as the power failures are getting worse day-by-day. In view of the rising demand, the battery makers... Benefits of FBR reforms outlined KARACHI, March 13: Federal Board of Revenue Chairman Abdullah Yousuf has said that the automated system of goods clearance is necessary to ensure competitiveness of Pakistani goods in the international market.... Dollar, gold, oil hit life highs PARIS, March 13: The dollar sank to a record low against the euro, gold surged beyond the $1,000 level and oil pushed further into uncharted territory on another traumatic day for global markets on Thursday.... Reserves KARACHI, March 13: Pakistan’s foreign exchange reserves rose by $79 million to $14.142 billion in the week that ended on March 8, the central bank said on Thursday.... Plea to make Gwadar Port operational KARACHI, March 13: The incoming government has been urged to make the Gwadar Port operational and chalk out a policy and provide security to investors.... Modest activity on cotton market KARACHI, March 13: Physical activity picked up modestly on the cotton market on Thursday, as spinners covered their forward positions, but they are not inclined to go beyond their parity levels owing to highly competitive foreign textile market.... Soap raw material KARACHI, March 13: Pakistan Soap Manufacturers Association (PSMA) has sought a cut in the import duty on raw material used in soap making to five per cent from 10 per cent in the coming budget of 2008-2009.... Karachi Port operations KARACHI, March 13: Six vessels carrying steel, containers and to load cement are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, March 13: Berthing was slow as only one container vessel was berthed during the last 24 hours, said a PQA press release on Thursday.... Asian stocks slump on credit crisis HONG KONG, March 13: Asian stocks were battered by fresh credit woes and a slumping dollar on Thursday, with Tokyo hitting a 30-month low as initial euphoria over the Federal Reserve’s cash injection evaporated.... Malaysian palm oil up JAKARTA, March 13: Malaysian palm oil futures jumped nearly 3 per cent on Thursday as investors took their cue from a rebound in the soyaoil market and on Beijing’s plans to... Company news KARACHI, March 13: The UBL Fund Manager and Pak-Qatar Family Takaful on Thursday signed an agreement that will provide UBL Funds’ investors Islamic investment plans with Shariah compliant accidental and medical Takaful coverage.... Karachi market rates KARACHI, March 13: The following were Thursday’s commodity market rates in rupees....

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