Friday, September 25, 2009 KARACHI: Pakistan foreign exchange reserves swelling up process continues, as it was seen recording a significant increase by 1156 million during one week.State Bank of Pakistan (SBP) data showed that foreign exchange reserves in the country has shot up to $14.47 billion, recording significant increase of $1156 million during the week ending September 19. State Bank reserves amounted to $10.94 billion, while those with the commercial banks $3.53 billion.Analysts said that following Pakistan’s international credit rating improvement, foreign investors have went into action in the stock market, which has resulted in the pouring in of forex in the country. Besides, the shrinking trade deficit was also positively impacting on the forex reserves, said the analyst.
Sunday, February 28, 2010 HAVANA: Hundreds of wealthy merchants and cigar aficionados from all parts of the world gathered in Havana this week to bid high stakes for humidors full of premium cigars. Cuba's annual Habanos festival ended on Friday night with an auction of ornate humidors of cedar and mahogany stacked with hand-rolled stogies that raised 800,000 euros ($1.09 million dollars). Habanos S.A. executives this month said cigar sales fell 8 percent to $360 million in 2009, so they have created the Julieta, a smaller, milder version of the Romeo y Julieta cigar, aimed specifically at female smokers. Women now make up only 5 to 10 percent of customers for Habanos. But even with the creation of the Julieta, Garcia said Habanos has only modest hopes for 2010 sales, due largely to a weak economy in Spain, the biggest market for Cuban cigars. The flavor of premium tobacco relies on the soil and climate in which it is grown. The western province of Pinar Del Rio, famous fo...
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