Raby` al-awal 24, 1431 Hijri March 11, 2010

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ISTANBUL: President Asif Ali Zardari shakes hand with Turkish President Abdullah Gul before a meeting at Istanbul. APP
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PSO needs Rs57 billion to avoid default

ISLAMABAD: With its receivables rising beyond Rs105 billion, Pakistan State Oil (PSO) needs at least Rs57 billion between now and April 28 to avoid default on international payments for oil imports and ensure smooth oil supplies in the country.
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TOP STORIES
Inflation increases 36.3pc in two years [+]
‘Rice import to Malaysia to quadruple this year’ [+]
Sugar prices decline in wholesale and retail markets [+]
Govt likely to allocate Rs 560bn for PSDP 2010-11 [+]
TCP awards 3rd contract for sugar supply [+]
Car sales increase 32 percent in 8-month FY 2009-10 [+]
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Business & Economy
NBP’s PAT rises, bonus shares for employees
MCB AMC willing to merge with AHIL
First ever women branch of Allied Bank opens
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Stocks & Bonds
Range-bound KSE ends 2 points lower
LSE down
ISE gains 3.46 points
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General News
Gold holds around Rs36,000 a tola on stable dollar
IMF to start sales of 191.3 tonnes of gold soon
Gold prices slip, copper bounces from 2-week low
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Editorials
Poor governance results in battle for the turf
Freedoms curtailed but for how long?
Elections versus democracy
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Articles & Letters
Global warming threatens to devastate the Mediterranean
A case for stronger consumer protection legislation
New openings for increasing trade with China
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Cotton & Textiles
Insufficient stocks to hit textile sector
Pak textile industry has only 20pc share in domestic market
Domestic cotton inches up to Rs5775/maund
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Agriculture & Allied
‘Banks to revamp lending mechanism for agri financing’
Sindh allocates Rs2.4bn for fisheries, agriculture
Banks disburse Rs 124 billion agri credit in 1st 7MFY10
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Fuel & Energy
Oil hovers below $82 after monthlong run-up
Oil rises above $77 on recovery hopes
Oil below $72 in Asia
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Taxation
FTO pledges to improve tax administration
NA body suggests directory of taxpayers
Auditors’ strike affects tax refund: SCCI
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Company News
Telenor Pakistan launches Social Services IVR
Nokia-Siemens, LG achieve record LTE data speed
Nokia introduces the new Nokia 2710 navigation edition
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Market at Close
BRIndex-30 13,340.84
KSE-30 Index 15,164.23
KSE-100 Index 12,235.19
LSE-25 Index 4,545.84
ISE-10 Index 2,718.13
Gold Per 10gm 13,373.00
KCA Spot Rate 2,700.00
Libor Rate 5.29750
THE RUPEE
Interbank closing rates for dollar on Sunday.
BuyingRs 60.65
SellingRs 60.67
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