FCA sets wheat target of 25 mn tonnes for 2008-09
ISLAMABAD: The Federal Committee on Agriculture (FCA),  reviewed food security in the country and set wheat target of 25 million tonnes for the year 2008-09. "The government has enhanced Wheat Support Price and provided subsidies on fertilizers with an aim to encourage >>>>>

Talks with IMF, other bodies: Pakistan seeks 10-15 billion dollars package
SINGAPORE:  Pakistan is in informal discussions with the International Monetary Fund and other bodies over a $10-$15 billion package designed to stabilise its economy and avoid a balance of payments crisis, the Financial Times reported. A little over half the total would come in the >>>>>

Pakistan's financial crisis may shake the world
WASHINGTON: The global financial crisis is close to knocking out its most important and potentially most dangerous victim yet: Pakistan needs a financial support package of $10 billion to $15 billion to avoid collapse. The stakes could not be higher: With a rapidly increasing population of >>>>>

Medium and long-term depositors: banks offering profits in advance
ISLAMABAD:  Some banks operating in Pakistan are aggressively seeking medium- and long-term deposits by offering profits, in advance, to customers. Analysts told that such offers by certain banks may be >>>>>

Oil prices fall to 16-month lows
Oil prices have fallen to 16-month lows on growing signs that a global economic slowdown is reducing demand. The declines came as official US data showed that US crude stocks rose by 3.2 million barrels in the week >>>>>

Gulf stock markets stay volatile
Trading on major Arab stock markets in the Gulf has remained volatile, with many of the indices falling sharply after two days of big gains. Shares dropped by 7% in Saudi Arabia and by 6% in Dubai. >>>>>

Russia may divert oil to affect price
One of the world's largest oil producing countries is considering storing crude to gain more influence over global prices.
MOSCOW (AP) -- Russia's top energy official said Wednesday that the nation may set aside an oil reserve to influence global prices - but won't cut output, news reports said.
Deputy Prime Minister Igor Sechin, who is in charge of the energy sector, said the government was considering creating an oil production reserve "which would allow it to work more efficiently with prices on the market."

Samsung drops offer for Sandisk
Samsung Electronics has withdrawn from a $26-a-share (£16) offer to buy US flash memory card maker Sandisk. But Samsung, which pulled out after six months of what it called "no meaningful progress", hinted it might still be interested in a lower purchase price. California-based Sandisk rejected the $5.9bn >>>>>

Number of mobile users in Pakistan exceeds 90 million
KARACHI: The number of mobile phone users in the country has crossed 90 million. According to Pakistan Telecommunication Authority (PTA), an increase of 29 per cent was recorded in mobile phone subscription during the month of September in comparison with the same period in the previous year whereas it increased by 0.7 per cent against August.

Dollar rallies against euro, pound
The greenback is at a 21-month high against the 15-nation currency as the global rebound appears slower than in the U.S. NEW YORK (CNNMoney.com) -- The dollar climbed to a nearly 2-year high against >>>>>

Indian airline sector 'to shrink'
Half of India's airlines could disappear during the current downturn, Air India boss Raghu Menon has told BBC News. The chairman of the country's flagship carrier, Air India, believes that no more than four or five >>>>>

Political Crisis, Inflation, Power Crisis Hurt Pakistan Economy
Political turmoil in Pakistan, rising inflation and power shortages could derail the country's strong economic performance of the past five years. VOA's Nancy-Amelia Collins reports from Islamabad. Men push a hand cart loaded with sacks of flour at a market in Lahore, Pakistan, 31 Dec 2007.
Pakistan has cut its economic growth forecast as its political crisis deepens following last month's assassination of former Prime Minister Benazir Bhutto. The central bank now expects the economy to grow by seven percent or less in the current fiscal year, instead of the earlier forecast of 7.2 percent.
Ms. Bhutto's assassination while campaigning for national elections sparked riots that forced thousands of businesses to shut until calm returned. The government estimates >>>>>

Dr. Mirza Ikhtiar Baig Appointed as Member of Board of Director of Pakistan Textile City
Mr. Yusuf Raza Gillani, Prime Minister of Pakistan has appointed Dr. Mirza Ikhtiar Baig, Chairman Baig Group, as member of Board of Directors of Pakistan Textile City Limited.
Dr. Mirza Ikhtiar Baig, Chairman & C.E.O, Baig Group of Industries, did MBA in Corporate Finance and Marketing from >>>>>

"WTO TRADE DEFENCE LAWS: LAWS AND PROCEDURES"
The Karachi Chamber of Commerce & Industry held a Seminar on the "WTO TRADE DEFENCE LAWS:
LAWS AND PROCEDURES", in collaboration with National Tariff Commission (NTC), Government of Pakistan, on October 15, 2008 at 2:45 p.m. at KCCI.
Mr. Mazhar Raza Bangash, Chief Legal Officer, NTC and Mr. Imran Zia, Director, NTC, spoke on the subject.

KCCI Condemns Recent Tariff Rise In Electricity
Mr. Anjum Nisar, President Karachi Chamber of Commerce & Industry,  Mr. Muhammad Jawed Bilwani, Senior Vice President KCCI & Mr. Mohammad Ali Vice President, KCCI in a press release strongly condemned the recent tariff rise in electricity by the KESC/NEPRA. >>>>>

Visit to KCCI by Saddar Alliance of Market Association
Alliance of Market Association under the lead of its Chairman Mr. Talat Mehmood and Senior Vice President Mr. Abdul Samad Khan visited KCCI and had a meeting with Mr. Anjum Nisar, President Karachi Chamber of Commerce & Industry to felicitate him and invitation to be the Chief Guest at their gathering >>>>>

Karachi Iron & Steel Merchants Association’s Delegation Visited KCCI
A delegation of Karachi Iron & Steel Merchants Association under the lead of Haji Ghulam Muhammad Chairman, Mr. Shamoon Bakir Ali President, Mr. Muhammad Ahmed Vice President and Muhammad Zubair Gheewala, General Secretary of the association met KCCI's President Mr. Anjum Nisar in respect of the issues being >>>>>

EID MILLAN DINNER
The Karachi Chamber of Commerce & Industry held its Eid Millan Dinner, on Thursday, the 16th October, 2008 at Union Club, Sirajauddaullah Road, Karachi.
Mr. Siraj Kassam Teli, leader of the Ruling Businessmen Group (BMG) and former President of KCCI were the Chief Guest and outgoing Office Bearers of KCCI Mr. Shamim Ahmed Shamsi, Mr. Iftikhar Ahmed Sheikh and Mr. Muhammad Haroon Agar, were Guests of honour.

MS. SHIRIN NIAZI ELECTED CHAIRPERSON PAKISTAN-MYANMAR TRADE & INDUSTRY COMMITTEE OF FPCCI
Mr. Tanvir Ahmad Sheikh, President FPCCI has nominated Ms. Shirin Niazi, CEO, M/s Niazi International Co. Karachi as Chairperson of Pakistan- Myanmar Trade & Industry Committee for the year 2008-2009. Ms. Shirin Niazi was elected unopposed on the Board of Directors of Pakistan- Myanmar Trade & Industry Committee.
The other Directors elected unopposed are Mr. Abdul Majid Agar, M/s Agar International (Pvt.) Ltd., Mr. Abdul Baqy Khan, M/s Merck (Pvt.) Ltd., Mr. M. Ali Haider, M/s Power Gas (Pvt.) Ltd., Mr. Tariq M. Rangoonwala, M/s Burma Oil Mills Ltd.

Prospects of solar water heating for textile industry in Pakistan
The affluent availability of local cotton has lead to a well-established textile sector in Pakistan. A large proportion of its cotton products go into export. Being a successful candidate in international textile market Pakistani textile industry is continuously seeking modern and high-tech facilities to improve quality of its products. >>>>>

The Mauritian Textile and Clothing Industry: Facing the Challenges Associated with Globalisation
These relate mainly to elimination of trade preferences, exchange rate fluctuations, relatively slow pace of restructuration and diversification, increased competition.
S. Rosunee, Department of Textile Technology, Faculty of Engineering, University of Mauritius Abstract. >>>>>

Estimating productivity and returns to scale in the US textile industry
In the light of the textile industry's growing foreign competition, trade deficit and job loss, we estimate its productivity and efficiency for the period 1975-93 utilizing a variable elasticity of substitution production function. The results indicate that, despite job losses, >>>>>

FBR withdraws Withholding Taxes
Federal Board of Revenue (FBR) has issued an official statement that notifies exemption from payment withholding taxes. This has been the major demand from export oriented industries of the country. The notification says in exercise of the powers >>>>>

Dr. Sohail Farooq  Magoon   (Interview)
A Pain Specialist in the Heath Care Hospital
BY: AMBREEN SHAIK
MB.   Would you like to comment on where are your branches are working?
Ans:  Well, our branches are working in Karachi, Lahore, Multan and Rawalpindi. In Rawalpindi Brigadier Dr. Saleem (a pioneer in Pakistan regarding pain) is servicing and managing the whole team in Pakistan.
BM.   Please, differentiate between the traditional and scientific way of treatment.
Ans: As far as the traditional way of treatment is concerned, is all about few medicines which are diagnosed the patient at a particular time. At the other hand scientific way of treatment all the parts of the body are handled through latest technology. Let me talk about pain as the pain is a multi disciplinary activity so there are many pain physician and pain specialist are involved to fulfill this process.
BM.   There are some such diseases for that treatment has not been discovered. How do you comment on that?
Ans:  The thing is that the Almighty Allah created many diseases among them some are treatable and some are not. We handle such patients who have already gone through treatment but the pain is still there, so to remove the pain take patients in our pain centre. As a result if we can't handle the disease but we handle the pain and for that purposes research is going on throughout the world.
BM.  Please tell us about the technology?
Ans:    It's a very simple technology. Let me tell you that pain conducts into centre nervous system from pedestal system or from skin and the flux of pain is handled through a particular part way till reaching to the central nervous system. >>>>>

Pakistan's banking sector marks decline in demand against high growth in deposits
KARACHI : Despite high growth of deposits the banks have to face difficult situation as the demand declined significantly in the first quarter of the current fiscal year, said the quarterly report of the State Bank, issued on Monday. Aggregate Banking sector deposits rose by an unprecedented 4.1 percent during Q-1 FY-03, in contrast to a decline of 0.6 percent in Q-1 FY-02. However, on the credit side, banks faced a substantial contraction in demand, despite falling lending rates.
The weighted average rate dropped from 14.4 percent in June 2001 to 11.9 percent >>>>>

Pakistan Banking Boom Continues Despite Events
Recent events have not dampened Pakistan's continued banking and financial sector expansion. The latest development follows a spate of purchases by overseas banks looking to expand in Pakistan. In the latest deal, Saudi Pak Commercial Bank (SPCB) is due to be bought in a $200m deal. Standard Chartered in 2006 became the first international bank >>>>>

Chinese banking giant eyes Pakistan
QUETTA, Pakistan - The Industrial and Commercial Bank of China (ICBC), the world's second-largest bank, is looking to start operations in Pakistan. It is exploring the possibility of establishing its presence in Pakistan to provide financial support to Chinese companies investing in the South Asian country and other development partners engaged in infrastructure >>>>>

Auto assemblers sector shows dismal performance
The net profit of auto assemblers (cars and light commercial vehicles only) has declined by 61 percent to Rs 828 million in the quarter ended June 30, 2008 as compared to Rs 2.1 billion in the same period in 2007. "In line with the economic slowdown >>>>>

Partnering in the global auto industry: the Fiat-GM strategic alliance
GM and Fiat have formed a strategic industrial alliance, creating an important partnership for the companies in two of the world's largest automotive markets Europe and Latin America. Observers think the alliance promises opportunities to create value >>>>>

The Pakistan Automotives Report
Independent 5 year Automotive industry forecasts for Pakistan. Original Automotive market research and Automotive sector trend analysis for the Pakistan Automotive industry. Competitive intelligence, Pakistani Automotive company rankings and SWOT analysis on international and domestic Automotive companies in Pakistan. >>>>>

BMI's Executive Summary
The low level of vehicle ownership suggests that there is scope for further sales growth, while a reasonably low number of incumbent producers means that the market is not yet saturated in terms of supply Strong new vehicle sales in the first four months of FY2007/08 (ending June 2008) have prompted BMI to raise its sales forecast for the year. BMI has raised its >>>>>