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Iraq is buying unmanned drones from the United States to help protect its southern oil platforms as the OPEC nation ramps up production after the withdrawal of the last American troops, US and Iraqi officials said on Monday. Protecting the vital infrastructure around its oil reserves, the world's fourth largest, is crucial as Iraq rebuilds an industry battered by years of war and sanctions against former dictator Saddam Hussein.
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European Union countries agreed on Monday to press for new controls on credit ratings agencies, with a law to challenge the power of the debt raters whose downgrades of countries angered politicians as they struggle with an economic crisis.
The Sindh government has finally stepped in to save the multi-billion Thar Coal Underground Coal Gasification (UCG) and has asked the federal government to increase allocations for the project. The project's fate is hanging in balance due to lack of funds.
Agricultural credit disbursement by banks surged by 15.29 percent on year-on-year basis to Rs 223.845 billion in the first ten months (July-April) of the current fiscal year (2011-12). In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 29.688 billion in July-April, 2012 when compared with total disbursement of Rs 194.157 billion in the same period of the last fiscal year.
Iran plans a new oil terminal outside the Strait of Hormuz to protect its exports against potential problems in the Gulf and to boost shipments of Caspian oil, the oil ministry news website said on Monday. Tehran had threatened to block the vital Gulf oil shipping route during its long standoff with the West over its nuclear programme.
Following the directives of the Economic Coordination Committee of the Cabinet (ECC), the Trading Corporation of Pakistan (TCP) has issued tender for the procurement of 0.2 million tons of sugar from local mills.
The country's NBFI and Modaraba sector has posted net profit of Rs 779 million in the year ended on June 30, 2011 as compared to a cumulative loss of Rs 261 million in the previous year. Total assets of the sector stood at Rs 70,804 million and the total equity at Rs 18,391 million.
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Budget 2011-12



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