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April 23, 2008 Wednesday Rabi-us-Sani 16, 1429 Credit to agriculture rises by 25pc KARACHI, April 22: Penetration of commercial banks into agriculture sector has rapidly increased as their share in credit to agriculture sector has reached 70 per cent.... IEF expresses ‘concern’ over high oil prices ROME, April 22: Ministers from 74 countries attending the International Energy Forum here expressed “concern” on Tuesday at high oil prices, which topped a record $119.... Late wheat harvest delays cotton sowing KARACHI, April 22: Cotton sowing has been delayed for one-and-a-half months, partly due to shortage of water in Sindh and incomplete wheat harvests in Punjab.... Rupee inches up KARACHI, April 22: The rupee inched up on Tuesday following some dollar inflows in the market but dealers said persistent demand for the US currency could mean that the rupee’s gains are short-lived.... KSE 100-share index loses 111 points KARACHI, April 22: The stock market remained in a consolidation phase for the second session in a row on Tuesday as investors continued to shed an extra weight at the inflated... Italy keen to invest in infrastructure: 44 projects worth $1.4bn identified ISLAMABAD, April 22: Infrastructure Project Development Facility (IPDF) of the Ministry of Finance has identified 44 projects worth $1.4 billion in the fields of airports, seaports, railways, bridges, roads, mass transit system, municipal services and hydro projects.... Govt advised against building Keti Bunder port KARACHI, April 22: Ports and shipping experts have cautioned the government not to rush for building a port at Keti Bunder without carrying out prior studies related to geological history of... Plan to create rice reserves being discussed ISLAMABAD, April 22: With the flour crisis worsening by the day, the economic wizards of the coalition government are working on modalities for creating strategic reserves of rice for at least one year to avert food riots, Dawn has learnt.... Passco directed to stop gram supply MULTAN, April 22: The government on Tuesday directed the Pakistan Agricultural Storage and Supplies Corporation (Passco) to immediately stop supply of gram to the open market as its production is expected to fall below the target of 761,000 tons this year.... PSO net profit rises by 293pc KARACHI, April 22: The Pakistan State Oil (PSO) reported on Tuesday a 293 per cent rise in its net profit for the first nine months of the 2007-08 financial year, as high international prices boosted the value of its inventory.... World sugar output may hit record high KARACHI, April 22: World sugar production is expected to hit a record high of 170.308 million metric tons in 2007-08, an increase of three per cent as compared to 2006-07.... Dollar hits record low vs euro LONDON, April 22: The dollar plunged to a record low on Tuesday against the euro, which broke through the $1.60-barrier, as the unit was hit by dismal US housing news and fresh fears over the health of the US economy.The... Oil rises above $118 LONDON, April 22: Oil prices rocketed to historic highs above $118 on Tuesday, lifted by the tumbling dollar, unrest in Nigeria and Opec’s reluctance to increase output, traders said.... New cotton crop fetches record price of Rs3,700 KARACHI, April 22: A forward deal of 200 bales in Sindh new crop was reported at a record high price of Rs3,700 per maund, indicating that lint may not be cheaper during the next cropping season also.... Karachi Port operations KARACHI, April 22: Six ships including Placid Sea, carrying 42,306 tons of imported wheat are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, April 22: Seven ships to load/offload containers, cement, palm oil, diesel oil and chemicals arrived at the outer anchorage during the last 24 hours, said a PQA a press release on Tuesday.... Idea of ‘gas-Opec’ gains currency ROME, April 22: Moves are afoot to set up an Opec-style cartel for gas but even though the proposal seems a long way from reality just yet, consumers are concerned that exporters will gain a free-hand to set prices.... Lufthansa to resume flights from Lahore LAHORE, April 22: Lufthansa airline has decided to resume its operations from Lahore in the near future.... Apparel exporters KARACHI, April 22: Leaders of four major value-added apparel exporters associations have taken strong exception to the decision of not inviting them to a crucial meeting related to export of textile... Company news KARACHI, April 22: The Board of Directors of HBL Asset Management Limited, the management company of HBL Income Fund in its meeting held recently, announced interim bonus units for A and... Asian stocks close mostly down HONG KONG, April 22: Asian stocks closed mostly down on Tuesday after oil prices hit yet another record high and investors reassessed the view that the worst phase of the global financial crisis had passed.... Gold rises on weaker dollar LONDON, April 22 : Gold rose on Tuesday on a weaker dollar and firm oil prices, and analysts said the metal was looking for a reason to break up through its recent trading range and towards record highs.... Appointments in FBR ISLAMABAD, April 22: Federal Board of Revenue (FBR) has appointed Maj Gen (Retd) Muhammad Yasin member administration as chief coordinator for the revenue budget-2008.... Palm oil futures fall KUALA LUMPUR, April 22: Malaysian crude palm oil futures fell on Tuesday as fears of a slowdown in export momentum offset the strength in vegetable oil prices in Asian trade.... Karachi market rates KARACHI, April 22: The following were Tuesday commodity market rates in rupees....

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