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News for Friday, 20 May 2011

New entrant policy shocks automakers

Automobile companies have voiced concern over the government’s decision to invite foreign Original Equipment Manufacturers (OEMs), offering preferential treatment against existing players in the Pakistani market, and expressed fears it...

Greek bond crisis heats up

The European Central Bank could stop accepting Greek bonds as collateral for loans if Athens restructures its debt and forces losses on investors, the ECB’s chief economist has said. A...

Zardari welcomes ICBC to Pakistan

President Asif Ali Zardari, on Friday, appreciated the Industrial and Commercial Bank of China’s (ICBC) initiative to open branches in Pakistan. This proposal, he felt, will mark a new era...

SAARC underlines need for trade liberalisation

Political freedom is a prerequisite for exploiting the economic potential of South Asia in true perspective and involvement of stake holders in policy making process is required for promotion of...

US Republicans say Obama betrayed Israel

Top Republican contenders for the White House in 2012 accused President Barack Obama on Thursday of betraying staunch US ally Israel in his new long-shot push for Middle East peace....

Saleh wants early presidential election

Embattled Yemeni President Ali Abdullah Saleh told thousands of supporters on Friday that he wants an early presidential election to end a political crisis after months of deadly anti-regime protests....

Malaysia to help boost halal product exports

Punjab Industrial Estate Development and Management Company (PIEDMC) and the Government of Malaysia have signed an MoU for the promotion of halal product projects, which will help Pakistan in boosting...

North accuses south of Abyei ambush

Sudan’s northern army accused the South’s forces on Friday of attacking a convoy in the contested Abyei region, and threatened to retaliate, escalating a dispute that looms over plans for...

Government unable to meet textile subsidy

The resource constrained government is unable to address Rs2 billion in claims of textile exporters under the mark up rate subsidy scheme. Funds released by the Ministry of Textile Industry...

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