DAWN - Business; May 15, 2008

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May 15, 2008	Thursday	Jamadi-ul-Awwal 9, 1429

Banks raise dollar margin for exporters KARACHI, May 14: Banks have increased by almost four times the difference in rates being given by them on dollars received as export proceeds and on opening letters of credit for...		Tuwairqi Steel to be ready by early 2009 KARACHI, May 14: Sindh minister of industries and commerce Abdul Rauf Siddiqui laid on Wednesday the foundation stone of induction furnace project of the upcoming first private sector steel project -- Tuwairqi Steel Mills -- near Port Qasim....

Islamic finance urged to align standards AMMAN, May 14: The biggest challenge facing the Islamic finance industry’s integration into the global financial system was harmonising standards to sustain its continued rapid growth, central bankers and executives said on Wednesday....		R&D support for garment exporters likely to stay KARACHI, May 14: The textile ministry has assured readymade garment exporters that it would fully back their demand for continuation of Research and Development (R&D) support which is coming to an end on June 30....

Buying slows down, but KSE extends gain KARACHI, May 14: The overnight buying euphoria slightly slowed down on Wednesday as leading investors had an overview of the developing political situation before opting for fresh covering purchases....		Industrial output grows by 4.84pc: Annual target may not be achieved ISLAMABAD, May 14: Industrial production grew by a paltry 4.84 per cent in the first nine months of the current fiscal year, and it is feared that the annual industrial growth target of 10.5...

Post-BB killing unrest still haunts insurance sector KARACHI, May 14: The impact of unrest which erupted after the assassination of Benazir Bhutto is still being felt by the non-life insurance companies which have been paying huge claims to their insured clients.The...		Retailers being fined on fake receipts KARACHI, May 14: Without issuing an updated price list, the city government officials have been on a campaign to fine retailers on the spot for overcharging....

New policy to boost SMEs assured LAHORE, May 14: Punjab Excise and Taxation Minister Mujtaba Shujaur Rehman said here on Wednesday that a new policy was being evolved for creating a mechanism for achieving higher economic growth based on small and medium enterprises-led private sector development....		Punjab Procures less wheat MULTAN, May 14: The Punjab Food Department has managed to purchase only 11,60,925 tons of wheat against last year’s 12,24,654 tons till May 13....

Lucky Cement wins Kuwait deal KARACHI, May 14: Lucky Cement, the country’s biggest cement maker and exporter, said on Wednesday it had won a major long-term deal to sell clinker to a Kuwaiti investment firm....		Oil prices drop LONDON, May 14: The price of oil fell on Wednesday as traders digested rising US crude inventories and as profit-taking set in one day after striking a record high point $126.98...

Trading picks up on cotton market KARACHI, May 14: After several lean sessions during the last fortnight, the cotton market witnessed active trading on Wednesday as both ginners and spinners resumed normal business....		Karachi Port operations KARACHI, May 14: Over a dozen ships carrying palm oil, containers and to load cement are expected to arrive at the outer anchorage on Thursday, according to KPT sources....

Port Qasim KARACHI, May 14: Two ships carrying containers and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Wednesday....		Sahiwal chamber gets licence SAHIWAL, May 14: The ministry of commerce has granted a licence to the Sahiwal Chamber of Commerce & Industry (SCCI) to work as an independent trade body under section 3 (2)(b) of the Trade Organisations Ordinance, 2007....

IGI Funds, Pak Brunei Company sign MoU KARACHI, May 14: IGI Funds Limited, a part of the IGI Financial Services Group, signed a memorandum of understanding (MoU) with Pak Brunei Investment Company to set up a ‘Hybrid Portfolio...		Company news KARACHI, May 14: Habib Metropolitan Bank (HMB) and Citibank N.A. Pakistan (Citi) announced the signing of an Asia Letter of Credit Relay Programme Agreement that will allow the HMB to access...

Asian stocks close mostly higher HONG KONG, May 14: Asian stocks closed mostly up on Wednesday as investors set aside jitters about the US economy, with the Chinese market rallying despite shock at the devastation caused by the Sichuan earthquake....		Gold steady in London LONDON, May 14: Gld steadied on Wednesday after the dollar reversed gains against the euro, with demand from jewellers in Asia and the Middle East also helping the metal rebound from a one-week trough....

Malaysian palm oil up KUALA LUMPUR, May 14: Malaysian crude palm oil futures closed 0.74 per cent higher on Wednesday, lifted by strengthening crude oil prices and concerns over global edible oil supplies....		Karachi market rates KARACHI, May 14: The following were Wednesday commodity market rates in rupees....