31 August 2015

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Traders’ announce strike on Aug 5

KARACHI: The trader's association has announced a strike tomorrow to protest the 0.3 percent withholding tax that the government has imposed on all banking transaction of over Rs50,000, Businessmen will not go to work, and shopkeepers will keep their shops closed. The protest will cause a loss of a hundred billion rupees.Leaders of traders' association said that if the government takes back orders of the with holding tax they were ready to peacefully resolve the issue. Otherwise they were not

Oil prices rebound in Asian trade

SINGAPORE  Oil prices rebounded in Asia Tuesday after falling steeply in the previous session owing to weak Chinese and US manufacturing and continued worries about the global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for September delivery rose 31 cents to $45.48 while Brent crude for September was up 32 cents to $49.84 in mid-morning trade.WTI plummeted $1.95 while Brent tumbled $2.69 on Monday, extending sharp losses of more

Oil prices mixed in Asia, WTI stays below $50

Oil prices mixed in Asia, WTI stays below $50Singapore: Oil prices were mixed in Asia Thursday, with WTI stuck below $50 a barrel after a rise in US stockpiles added to concerns over a supply glut, analysts said.The US Department of Energy on Wednesday said the country´s commercial crude stockpiles rose 2.5 million barrels last week, while supplies at the closely watched Cushing, Oklahoma, hub were up 800,000 barrels.The report also showed US production staying at near-record levels of about 9.6 million barrels per day, bad news

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