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April 03, 2008 Thursday Rabi-ul-Awwal 25, 1429 Callmate Telips is dead, long live shareholders! KARACHI, April 2: Market punters who fell over each other in a bid to be the first to buy shares in Callmate Telips Telecom Limited (CTTL) on the eve of the... Musharraf refuses to sign Ord to avoid controversy ISLAMABAD, April 2: President Pervez Musharraf has refused to sign an ordinance to avoid a fresh controversy.... Charges on gas generators levied KARACHI, April 2: Consumers using gas-based power generating units have been asked to deposit a minimum of Rs1,200 for a one kva unit for regularising their gas load.... ‘US economy heading towards recession’ WASHINGTON, April 2: US Federal Reserve Chairman Ben Bernanke conceded for the first time on Wednesday that the US economy may go into recession, endorsing a similar prediction by the International Monetary Fund.... Oil prices ease LONDON, April 2: World oil prices fell on Wednesday for the fourth trading day in a row after news of a sharp weekly rise in US crude reserves, analysts said.... FPCCI for end to capital gains tax exemption KARACHI, April 2: The Federation of Pakistan Chambers of Commerce and Industry has proposed withdrawal of exemption of capital gains tax and suggested levy of 10 per cent tax on a share that has been retained for less than six months.... RTO issues notices to non-filers of statements KARACHI, April 2: The city regional tax office (RTO) has issued notices to the taxpayers for non-filing quarterly and six-monthly statements in respect of tax deducted from payments made under division-II or division-III of part V of the Income Tax Ordinance.... Non-life insurance firms pay Rs13.2bn in claims KARACHI, April 2: The entire income of the non-life insurance industry from premium was wiped out on payment of claims against the vehicls and factories burned during violence erupted after the assassination of Benazir Bhutto.... ‘New govt inherited sound economy’ LAHORE, April 2: Dr Salman Shah, former adviser on finance to prime minister Shaukat Aziz, says the new coalition government has inherited a sound economy from its predecessors to build on further and achieve a higher growth next fiscal year.... BD firm makes yarn from cotton waste DHAKA, April 2: Bangladesh has begun producing environmentally friendly yarn from cotton waste to save foreign currency on imports, a local company said on Wednesday.... ‘Counterfeiting doesn’t exist in Balochistan’ KARACHI, April 2: There are no instances of counterfeiting of local brands in Balochistan despite the fact that its markets are attracting rush of buyers for cheaper copies or imitations of... Qatar to invest in Pakistan KARACHI, April 2: Sheikh Ali Bin Abdullah Al-Thani, a member of Qatar Royal Family and chairman Board of Directors of Pak-Qatar Family Takaful and Pak-Qatar General Takaful, has said that his... Stocks stage rally with 123 points gain KARACHI, April 2: The KSE 100-share index on Wednesday maintained its creeping rally and confidently crossed the so far an elusive goal of 15,333 points but investors seem to have decided... Spinners resume normal covering operations KARACHI, April 2: Spinners resumed normal covering operations on Wednesday against forward sale of yarn and cloth ahead of release of final crop figures by the Pakistan Cotton Ginners Association, possibly on Thursday.... Karachi Port operations KARACHI, April 2: Five ships carrying palm oil, containers and to load cement are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, April 2: Two container ships arrived at the outer anchorage and one vessel carrying palm oil was allotted berth during the last 24 hours, said a PQA press release on Wednesday.... Karachi Port breaks 15-year record KARACHI, April 2: The Karachi Port broke its 15-year-old record by handling 215 ships (arrivals) in March 2008.... Euro slips vs dollar LONDON, April 2: The euro gave up some early gains made after European Central Bank governor Axel Weber warned of continued financial market turmoil and inflation risks but it was still slightly higher against the dollar late Wednesday.... Company news KARACHI, April 2: The provision of microfinance in Pakistan has grown from 40,000 active borrowers in 1995 to 1.5 million in 2007. While this steady increase is encouraging, Pakistan’s overall penetration... Asian stocks rally HONG KONG, April 2: Asian stocks mounted a strong rally on Wednesday, tracking an overnight surge on Wall Street as investors hoped the worst of the global credit crisis was over.... Palm oil easy KUALA LUMPUR, April 2: Malaysian crude palm oil futures edged lower on Wednesday as vegetable oil markets struggled after Tuesday’s limit-down declines, although India’s move to remove import duties lent some support to prices.... Karachi market rates KARACHI, April 2: The following were Wednesday commodity market rates in rupees....

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