Friday March 12, 2010 
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 Business & Economy[1-3 of 3 stories]  
 Pakistan   |   World  

TIP demands re-promulgation of CCP Ordinance by March 27
KARACHI (March 12, 2010): Transparency International Pakistan has demanded that the Competition Commission of Pakistan Ordinance, 2007 be re-promulgated in its original form before 27th March 2010 and the Prime Minister of Pakistan shall play his role in CCP case in befitting manner.




Pak-Afghan trade to be enhanced to $5 billion by 2015: joint declaration signed
ISLAMABAD (March 12, 2010): Pakistan and Afghanistan on Thursday signed a joint declaration to strengthen road, rail and air connectivity as well as upgrade existing facilities linking the two countries to enhance bilateral trade to $5billion by 2015.




Billionaire from Pakistan: Mian Mansha
NEW YORK (March 12, 2010): Mexican tycoon Carlos Slim is the world''s richest person, knocking Microsoft founder Bill Gates into second spot, as the wealth of the world''s billionaires grew by 50 percent over the last year, Forbes magazine said on Wednesday.




FoDP Tokyo conference: money pledged was never earmarked for budgetary support: German envoy
ISLAMABAD (March 11, 2010): German Ambassador to Pakistan Dr Michael Koch clarified on Wednesday that money pledged at Friends of Democratic Pakistan(FoDP)during the Tokyo conference in April 2009 was never earmarked for budgetary support and will not materialise till projects submitted by Pakistan have been approved by the German government.




Prime Minister to visit finance ministry on March 13
ISLAMABAD (March 11, 2010): Prime Minister Yousaf Raza will visit Ministry of Finance on March 13 to have a detailed briefing on current economic situation. Sources said Prime Minister's visit to the Ministry of Finance and briefing on the economic situation may be an indicator that he intends to keep to himself the portfolio, at least till the next budget.



Pak-US Business Matching Service initiative
ISLAMABAD (March 11, 2010): The embassy of United States on Wednesday announced a new programme allowing Pakistani businesses to register and receive certification from the US Commercial Service, to establish their bonafides for the US corporations interested in partnering with Pakistani companies.



July-February 2009-10: trade deficit narrows by 19.45 percent
ISLAMABAD (March 11, 2010): The country's trade deficit has narrowed by 19.45 percent in the first eight months of the current fiscal year with reduced imports and increased exports compared to the same period of last year. The trade deficit during July-February 2009-10 stood at US $9.422 billion against the deficit of US $11.698 billion recorded during July-February 2008-09.



TOO 2007 termed 'black and draconian law'
LAHORE (March 11, 2010): The business community has termed the new Trade Organisations Ordinance 2007 as a black and draconian law that was promulgated by former President of Pakistan, Pervez Musharraf.



Business community launches campaign against TOO-2007
PESHAWAR (March 11, 2010): Chambers of trade organisations and trade associations from all around the country unanimously rejected the Trade Organisations Ordinance (TOO-2007) on Wednesday and attributed it to a black law promulgated during the previous dictatorial government.



Pakistan and Turkey agree to enhance bilateral trade volume to $5 billion
ISLAMABAD (March 11, 2010): Pakistan and Turkey have agreed to enhance the economic and trade ties between the two countries so as to raise the bilateral trade volume to 5 billion dollar during the current fiscal year, said Babur Hizlan, Ambassador of Turkey here on Wednesday.


  

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The Rupee
Interbank closing rates for dollar on Thursday.
BuyingRs 84.25
SellingRs 84.30
Dollar dips
8669.55  11.21
Sectoral Indices 
Market at Close
BRIndex-30 8,658.34
KSE-30 Index 10,361.72
KSE-100 Index 9,879.70
LSE-25 Index 3,120.79
ISE-10 Index 2,419.27
Gold Per 10gm 30,428.00
KCA Spot Rate 5,650.00
Libor Rate 0.39344
World Indices
Index Closing Chg%
DJIA 10,611.84 0.42
Nasdaq 2,368.46 0.40
S&P 1,150.24 0.40
FTSE 5,617.26 0.40
DAX 5,928.63 0.14
CAC-40 3,928.95 0.37
Nikkei 10,644.95 1.00
H.Seng 21,228.20 0.09
Sensex 17,207.61 0.64
NY Closing
Euro 0.731
Sterling 0.6636
Swiss Franc 1.0686
Yen 90.625
Gold 1108.20
Cotton 78.770
Oil 82.11
Economic Indicators
Annual2008/09
Foreign Debt $50.1bn
Per Cap Income $1046
GDP Growth 2.0%
Average CPI 20.77%
MonthlyJanuary
Trade Balance $-1.62 bln
Exports $1.7 bln
Imports $3.32 bln
WeeklyMarch 04, 2010
Reserves $14.80 bln
 











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