KARACHI (November 02, 2008): The State Bank of Pakistan's liquidity package worth Rs 270 billion for banks to provide additional liquidity completed on Saturday as the central bank further reduced the Cash Reserves Requirement (CRR) by 100 bps to 5 percent.

ISLAMABAD (November 02, 2008): President Asif Ali Zardari on Saturday said that more attention will be given to increase the cotton production and directed the concerned ministry to pump in all available resources for achieving the production target. Zardari stated this while chairing a meeting pertaining to issues related to cotton crop.

ISLAMABAD (November 02, 2008): Pakistan has decided not to accept stringent International Monetary Fund (IMF) conditions for economic bailout package, but a final decision would be taken on the conclusion of President Asif Ali Zardari's visit to Saudi Arabia and 'Friends of Pakistan' meeting in Abu Dhabi. This was agreed in a meeting between the President and Prime Minister Yousuf Raza Gilani in Aiwan-e-Sadr on Saturday.

KARACHI (November 02, 2008): A fresh inflow of over $0.56 million of foreign investors' portfolio investment (FIPI) in the country's equity market was observed in October, 2008, out of which $0.349 million came in the last week of the month. The market had been witnessing a declining trend in foreign investment during the last few months, as an outflow of $6.010 million was seen only in September 2008.

ISLAMABAD (November 02, 2008): The Federal Board of Revenue (FBR) has provisionally collected Rs 349.8 billion during July-October period of 2008-09 against target of Rs 329.3 billion, showing an increase of over Rs 20 billion. According to FBR data issued on Saturday, the board collected Rs 349.8 billion during July-October 2008-09 against Rs 271 billion of the same period of last fiscal reflecting a growth of Rs 78.8 billion.

ISLAMABAD (November 02, 2008): Prime Minister Yousuf Raza Gilani said on Saturday that Pakistan is seriously considering Iranian offer for acquiring oil on deferred payment. Briefing media on his return from the five-day visit to Turkey, he said why should Pakistan refuse such an offer, if Iran is ready to give oil on deferred payment.

ISLAMABAD (November 02, 2008): Affirming its commitment to the proposed Iran-Pakistan-India (IPI) gas pipeline project, New Delhi on Saturday said it was working with Islamabad to resolve the outstanding issues, and insisted that the $7.4 billion project could be finalised through co-operation of all the three countries.

ISLAMABAD (November 02, 2008): The Competition Commission of Pakistan (CCP) has been empowered to remove any person from the hearing who obstructs proceedings or misbehaves with the Commission officials. The Commission on Saturday issued guidelines on conduct of proceedings before it.

NEW YORK (November 02, 2008): Two Asian powerhouse economies felt the sting of the global financial crisis on Saturday as India cut its main short-term lending rate and China said it was bracing for a slowdown. British Prime Minister Gordon Brown travelled to the Gulf in an appeal to oil-rich states to pour money into stabilising the world financial system and help afflicted countries.

EVANSVILLE (November 02, 2008): Republican vice presidential nominee Sarah Palin is said to be upbeat, optimistic and fun. According to an LA Times report, she has painted Barack Obama as a pretty scary creature for Halloween: a tax-and-spend liberal whose policies would devastate the nation.