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| May 02, 2008 | Friday | Rabi-us-Sani 25, 1429 |
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Income tax on financing declared unlawful
LAHORE, May 1: A division bench of the Lahore High Court has restrained the federal government from collecting income tax on financing after declaring the practice unlawful.... 
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Flour, rice, vegetable, red chilli, ghee prices go up
KARACHI, May 1: Prices of flour, rice, gram pulse, vegetables, red chilli, tetra milk and 16-kg ghee tin have gone up in April, while chicken rates fell slightly....
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Work on collapsed berths starts
KARACHI, May 1: A South Korean company has taken up work for construction of the collapsed berths and three jetties at the Karachi Port....
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Meezan Bank records 31pc growth in Q1 profit
KARACHI, May 1: Meezan Bank, one of the Islamic banks of Pakistan, has posted 31 per cent growth in its post-tax profit for the first quarter ended on March 31, 2008....
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Automation fails to speed up refunds
ISLAMABAD, May 1: The Federal Board of Revenue (FBR) has failed to speed up the clearance of sales tax refund claims despite having spent billions on automation of payment system....
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Dollar gains against major currencies
NEW YORK, May 1: The dollar climbed to a five-week peak against the euro and a seven-week high versus a major currency basket on Thursday as data indicated a generally stable economy, suggesting the Federal Reserve’s monetary easing could slow....
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US consumer spending rises
WASHINGTON, May 1: US consumers spent more in March than in February, but much of the gain was due to higher-priced food, energy and services, government data showed on Thursday....
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Oil prices tumble
LONDON, May 1: World oil prices slipped to $111 a barrel on Thursday after a strike ended in key crude producer Nigeria, and in line with the strengthening dollar, traders said....
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Shortages boost food inflation to 10.3pc: ADB
ISLAMABAD, May 1: The Asian Development Bank (ADB) has said that Pakistan’s imports are increasing in 2007-08 because of higher international oil prices and rising demand for raw material for industrial use....
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