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News for Wednesday, 2 Feb 2011

Cold shoulder adds to Pakistan’s debt woes

KARACHI - The excruciatingly slow transfer of around $5.3 billion, pledged by the Friends of Democratic Pakistan (FoDP) in Tokyo some two year ago, has compelled Pakistan to default on...

Government running out of options on petrol pricing

KARACHI - Given the sharp rise in international crude oil prices escalating to $101 per barrel due to instability in Egypt and Tunisia, the government is fast running out of...

Egypt fears keep oil above $100

HONG KONG - Oil stayed above $100 a barrel Tuesday on lingering concerns over the political unrest in Egypt. The price of Brent North Sea crude broke the $100 mark...

Economic issues put under the scope at LCCI

LAHORE - Speakers at the economic dialogue arranged by the Lahore Chamber of Commerce and Industry were united in calling for good governance, strong institutions and sound macroeconomic management as...

ECC assured car import policy will not hinder production

ISLAMABAD - The Economic Coordination Committee of the Cabinet (ECC) was informed that there would be no negative impact of the recent decision on the manufacture of local cars permitting...

Husain appointed as head of FPCCI tax body

KARACHI - Pakistan Federation of Chambers of Commerce and Industry (FPCCI) President Haji Ghulam Ali has appointed Mian Zahid Husain as FPCCI Standing Committee Chairman on Sales Tax. Husain, a...

4B sets up new franchise network

LAHORE - Four Brothers Group (4B) Pakistan Biologic AG has started its new franchise network "Bio Traders". The inauguration ceremony of Bio Traders Franchise was organised in a local hotel...

Highnoon inks deal with Acino

KARACHI - Acino Pharma of Switzerland, a company specialising in the development of advanced pharmaceutical formulations in the fields of oncology, acute pain management and palliative care, has concluded an...

Wheat purchase deals settled

LAHORE - Punjab Food Minister Chaudhry Abdul Ghafoor has said that agreements for the sale of 1.478 million tonnes of wheat have been finalised out of which the food department...

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