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Print - 2010-03-16
Rabi-us-Sani moon not to be sighted today

Rabi-us-Sani moon not to be sighted today

The new Rabi-us-Sani moon will not be sighted today (Tuesday), according to astronomical parameters. Therefore, Rabi-us-Sani One, 1431 AH will fall on Thursday, (March 18). The moon crossed the conjunction line today (Tuesday) at 0201 Pakistan Standard Ti
Published 16 Mar, 2010 12:00am
Rabi-us-Sani moon not to be sighted today

Rabi-us-Sani moon not to be sighted today

The new Rabi-us-Sani moon will not be sighted today (Tuesday), according to astronomical parameters. Therefore, Rabi-us-Sani One, 1431 AH will fall on Thursday, (March 18). The moon crossed the conjunction line today (Tuesday) at 0201 Pakistan Standard Ti
Published 16 Mar, 2010 12:00am
PSO warns of magnifying 'circular debt' problem

PSO warns of magnifying 'circular debt' problem

The Pakistan State Oil (PSO) on Monday warned that if the problem of circular debt was not taken care of at this stage, it would magnify, making it difficult for all concerned to pay huge amount, mainly accumulated by subsidising POL products, which would
Published 16 Mar, 2010 12:00am
Setting up SRS: FBR advises Sindh government to seek help from MoF

Setting up SRS: FBR advises Sindh government to seek help from MoF

The Federal Board of Revenue (FBR) has asked the Sindh government to directly approach the Ministry of Finance for obtaining assistance for creation of the Sindh Revenue Services (SRS) for collection of value added tax (VAT) on services from next fiscal y
Published 16 Mar, 2010 12:00am
Setting up SRS: FBR advises Sindh government to seek help from MoF

Setting up SRS: FBR advises Sindh government to seek help from MoF

The Federal Board of Revenue (FBR) has asked the Sindh government to directly approach the Ministry of Finance for obtaining assistance for creation of the Sindh Revenue Services (SRS) for collection of value added tax (VAT) on services from next fiscal y
Published 16 Mar, 2010 12:00am
Setting up SRS: FBR advises Sindh government to seek help from MoF

Setting up SRS: FBR advises Sindh government to seek help from MoF

The Federal Board of Revenue (FBR) has asked the Sindh government to directly approach the Ministry of Finance for obtaining assistance for creation of the Sindh Revenue Services (SRS) for collection of value added tax (VAT) on services from next fiscal y
Published 16 Mar, 2010 12:00am
Consumers hit hard by load shedding

Consumers hit hard by load shedding

The load shedding phenomenon has hit back the city both on domestic and commercial connections, with the rise in mercury. The load shedding schedule has started widening with every passing day, as a total of five to six hours at domestic front and six to
Published 16 Mar, 2010 12:00am
Consumers hit hard by load shedding

Consumers hit hard by load shedding

The load shedding phenomenon has hit back the city both on domestic and commercial connections, with the rise in mercury. The load shedding schedule has started widening with every passing day, as a total of five to six hours at domestic front and six to
Published 16 Mar, 2010 12:00am
Consumers hit hard by load shedding

Consumers hit hard by load shedding

The load shedding phenomenon has hit back the city both on domestic and commercial connections, with the rise in mercury. The load shedding schedule has started widening with every passing day, as a total of five to six hours at domestic front and six to
Published 16 Mar, 2010 12:00am
People to pay more for less power this year

People to pay more for less power this year

Pakistanis will pay more for less power during this year again as the Pakistan Electric Power Company (Pepco) has formally communicated to the federal government that power shortage may touch 3000 mw during the coming scorching summer months, according to
Published 16 Mar, 2010 12:00am
People to pay more for less power this year

People to pay more for less power this year

Pakistanis will pay more for less power during this year again as the Pakistan Electric Power Company (Pepco) has formally communicated to the federal government that power shortage may touch 3000 mw during the coming scorching summer months, according to
Published 16 Mar, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 15, 2010).

Published 16 Mar, 2010 12:00am
People to pay more for less power this year

People to pay more for less power this year

Pakistanis will pay more for less power during this year again as the Pakistan Electric Power Company (Pepco) has formally communicated to the federal government that power shortage may touch 3000 mw during the coming scorching summer months, according to
Published 16 Mar, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 15, 2010).
Published 16 Mar, 2010 12:00am
BRIndex30 up 78.24 points

BRIndex30 up 78.24 points

On Monday, the BRIndex 30 opened at 8,770.07 points and remained in positive for whole of the market time. It touched intra-day high of 8,889.45 and low of 8,770.07 points and closed at 8,848.31 points, with a positive change of 78.24 points or 0.89 perce
Published 16 Mar, 2010 12:00am
BRIndex30 up 78.24 points

BRIndex30 up 78.24 points

On Monday, the BRIndex 30 opened at 8,770.07 points and remained in positive for whole of the market time. It touched intra-day high of 8,889.45 and low of 8,770.07 points and closed at 8,848.31 points, with a positive change of 78.24 points or 0.89 perce
Published 16 Mar, 2010 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (March 15, 2010).

Published 16 Mar, 2010 12:00am
62.46 points rise in KSE index

62.46 points rise in KSE index

Positive trend was observed at Karachi share market on Monday and the KSE-100 index rose by 62.46 points to 10,088.45 points level on the back of continuing interest of foreign investors. After positive opening, the index hit 10,131.22 points intra-day hi
Published 16 Mar, 2010 12:00am
62.46 points rise in KSE index

62.46 points rise in KSE index

Positive trend was observed at Karachi share market on Monday and the KSE-100 index rose by 62.46 points to 10,088.45 points level on the back of continuing interest of foreign investors. After positive opening, the index hit 10,131.22 points intra-day hi
Published 16 Mar, 2010 12:00am
62.46 points rise in KSE index

62.46 points rise in KSE index

Positive trend was observed at Karachi share market on Monday and the KSE-100 index rose by 62.46 points to 10,088.45 points level on the back of continuing interest of foreign investors. After positive opening, the index hit 10,131.22 points intra-day hi
Published 16 Mar, 2010 12:00am
VAT only solution for increasing tax to GDP ratio: FBR

VAT only solution for increasing tax to GDP ratio: FBR

The proposed Value Added Tax (VAT) will not be implemented without the approval of all legislative bodies including national and provincial assemblies. For broadening the tax to GDP ratio or improving the tax collection, the VAT is the only solution.
Published 16 Mar, 2010 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (March 15, 2010).

Published 16 Mar, 2010 12:00am
VAT only solution for increasing tax to GDP ratio: FBR

VAT only solution for increasing tax to GDP ratio: FBR

The proposed Value Added Tax (VAT) will not be implemented without the approval of all legislative bodies including national and provincial assemblies. For broadening the tax to GDP ratio or improving the tax collection, the VAT is the only solution.
Published 16 Mar, 2010 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (March 15, 2010).

Published 16 Mar, 2010 12:00am
VAT only solution for increasing tax to GDP ratio: FBR

VAT only solution for increasing tax to GDP ratio: FBR

The proposed Value Added Tax (VAT) will not be implemented without the approval of all legislative bodies including national and provincial assemblies. For broadening the tax to GDP ratio or improving the tax collection, the VAT is the only solution.
Published 16 Mar, 2010 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 15, 2010).

Published 16 Mar, 2010 12:00am
SBP to launch two major initiatives on Friday

SBP to launch two major initiatives on Friday

The State Bank of Pakistan is going to launch two important initiatives, which include Special Refinance Facility for small, and medium enterprises (SMEs) of terror war affected and neglected areas of NWFP, FATA and Gilgit-Baltistan, and Credit Guarantee
Published 16 Mar, 2010 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 16 Mar, 2010 12:00am
SBP to launch two major initiatives on Friday

SBP to launch two major initiatives on Friday

The State Bank of Pakistan is going to launch two important initiatives, which include Special Refinance Facility for small, and medium enterprises (SMEs) of terror war affected and neglected areas of NWFP, FATA and Gilgit-Baltistan, and Credit Guarantee
Published 16 Mar, 2010 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 16 Mar, 2010 12:00am
SBP to launch two major initiatives on Friday

SBP to launch two major initiatives on Friday

The State Bank of Pakistan is going to launch two important initiatives, which include Special Refinance Facility for small, and medium enterprises (SMEs) of terror war affected and neglected areas of NWFP, FATA and Gilgit-Baltistan, and Credit Guarantee
Published 16 Mar, 2010 12:00am
52.8 percent decline in July-February FDI

52.8 percent decline in July-February FDI

There has been a decline of $1.475 billion, or 52.8 percent, in foreign direct investment (FDI) during eight months of the current fiscal year mainly due to poor law and order situation. The State Bank of Pakistan (SBP) on Monday said that FDI posted a de
Published 16 Mar, 2010 12:00am
52.8 percent decline in July-February FDI

52.8 percent decline in July-February FDI

There has been a decline of $1.475 billion, or 52.8 percent, in foreign direct investment (FDI) during eight months of the current fiscal year mainly due to poor law and order situation. The State Bank of Pakistan (SBP) on Monday said that FDI posted a de
Published 16 Mar, 2010 12:00am
Poor weather hits Ukraine's winter grain crops

Poor weather hits Ukraine's winter grain crops

Frost and ice have killed 1.6 percent of Ukrainian winter grain area as of March 11 compared to 0.3 percent a week earlier, Interfax Ukraine news agency quoted official data as showing on Monday. The data also showed the area under ice crust rose to 9.1 p
Published 16 Mar, 2010 12:00am
52.8 percent decline in July-February FDI

52.8 percent decline in July-February FDI

There has been a decline of $1.475 billion, or 52.8 percent, in foreign direct investment (FDI) during eight months of the current fiscal year mainly due to poor law and order situation. The State Bank of Pakistan (SBP) on Monday said that FDI posted a de
Published 16 Mar, 2010 12:00am
Oil cake market rates

Oil cake market rates

Bullish trend was seen on the forward cottonseed oilcake market on Monday in the process of trading, dealers said. The March contract which ended at Rs 981.90 on Saturday last opened with a rise of Rs 2.00 at Rs 983.90, dealers said. The May vaida that cl
Published 16 Mar, 2010 12:00am
PSDP projects: Finance asked to release funds

PSDP projects: Finance asked to release funds

Prime Minister Yousuf Raza Gilani has expressed disappointment over the poor releases of funds for Public Sector Development Programme (PSDP), and directed the Ministry of Finance to expedite the process to ensure optimum releases by next month, sources t
Published 16 Mar, 2010 12:00am
Cotton market seen in wait-and-see mood

Cotton market seen in wait-and-see mood

Wait-and-see mood prevailed on the cotton market on Monday as both buyers and sellers opted for sideline due to rising uncertainties following the issue of ceiling on exports of cotton yarn, dealers said. The Karachi Cotton Association (KCA) official spot
Published 16 Mar, 2010 12:00am
PSDP projects: Finance asked to release funds

PSDP projects: Finance asked to release funds

Prime Minister Yousuf Raza Gilani has expressed disappointment over the poor releases of funds for Public Sector Development Programme (PSDP), and directed the Ministry of Finance to expedite the process to ensure optimum releases by next month, sources t
Published 16 Mar, 2010 12:00am
PSDP projects: Finance asked to release funds

PSDP projects: Finance asked to release funds

Prime Minister Yousuf Raza Gilani has expressed disappointment over the poor releases of funds for Public Sector Development Programme (PSDP), and directed the Ministry of Finance to expedite the process to ensure optimum releases by next month, sources t
Published 16 Mar, 2010 12:00am
Prices fluctuate both ways on seed, grain market

Prices fluctuate both ways on seed, grain market

Slight rise in prices was seen on the wholesale grain and seed market on Monday in process of trading, dealers said. On the cereals side, wheat new (government Bardana) was quoted higher at Rs 2450-2460. Gur best type shed Rs 400 to Rs 5800 and low type w
Published 16 Mar, 2010 12:00am
Russia to raise April oil export duty

Russia to raise April oil export duty

Russia will increase its oil export duty in April by around 6 percent to $268.9 per tonne to mirror a rise in oil prices, according to Finance Ministry figures and Reuters calculations. East Siberian fields are expected to be exempt from the duty again ne
Published 16 Mar, 2010 12:00am
Shanghai copper hits two-week low

Shanghai copper hits two-week low

Shanghai copper prices fell nearly 2 percent on Monday as investors worried about China's inflation woes, and shrugged off a widespread power outage in Chile that halted output at several mines. The blackout was caused by a problem at a transformer and be
Published 16 Mar, 2010 12:00am
PPP core group meeting held

PPP core group meeting held

A meeting of the core group of PPP was held in the Presidency on Monday night under the chairmanship of President Asif Ali Zardari and Prime Minister Syed Yusuf Raza Gilani.
Published 16 Mar, 2010 12:00am
Malaysian palm oil slips at 2.2 percent

Malaysian palm oil slips at 2.2 percent

Malaysian palm oil futures closed 2.2 percent lower on Monday to hit a near three-week low on weaker crude oil and soyoil markets. Palm oil prices have been treading down on concerns of the incoming bumper soybean crop from South America and some profit-t
Published 16 Mar, 2010 12:00am
Asia Products Outlook: diesel seen strong, fuel oil weak

Asia Products Outlook: diesel seen strong, fuel oil weak

Demand for naphtha and distillates could remain firm this week, but fuel oil remains weak on heavy supplies. Cracks and prices could firm this week, buoyed by South Korean demand, but sentiment could be tempered by an uncertain demand outlook from Japan f
Published 16 Mar, 2010 12:00am
President grants special remission in sentence

President grants special remission in sentence

The President, in exercise of powers under Article 45 of the Constitution has granted special remission in sentences of convicted prisoners on the occasion of Pakistan Day on March 23.
Published 16 Mar, 2010 12:00am
Kazakh copper output sinks

Kazakh copper output sinks

Kazakhstan produced 26,308 tonnes of refined copper in February, a 7.4 percent decrease on the previous month, official data showed on Monday. London-listed miners Kazakhmys, ENRCand Glencore-controlled Kazzinc account for the bulk of Kazakh metals output
Published 16 Mar, 2010 12:00am
Equities moves both ways on ISE

Equities moves both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 05.19 points as the ISE Ten Index moved from 2,479.09
Published 16 Mar, 2010 12:00am
Oil eases below $81 in Asia

Oil eases below $81 in Asia

Oil fell below $81 a barrel on Monday, extending Friday's losses, pressured by a stronger dollar and weak US consumer confidence data that fanned worries about flagging demand in the world's top energy user. The dollar rose broadly on Monday as investors
Published 16 Mar, 2010 12:00am
Equities moves both ways on ISE

Equities moves both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 05.19 points as the ISE Ten Index moved from 2,479.09
Published 16 Mar, 2010 12:00am
Indian February vegetable oil imports falls eight percent

Indian February vegetable oil imports falls eight percent

India's February vegetable oil imports fell 8 percent to 700,769 tonnes from a year ago as higher purchases in the previous months pushed up port stocks, a leading trade body said on Monday. Imports - which were at 762,544 tonnes in February last year - w
Published 16 Mar, 2010 12:00am
Shahbaz meets Kayani

Shahbaz meets Kayani

Punjab Chief Minster Shahbaz Sharif met Army Chief General Ashfaq Pervez Kayani at the Army House on Monday, sources told Business Recorder. They exchanged views regarding the on-going terrorist activities across the country particularly recent sui
Published 16 Mar, 2010 12:00am
Tokyo rubber futures drop

Tokyo rubber futures drop

Key Tokyo rubber futures fell on Monday to settle at their lowest level in more than a month, as sentiment was weighed down by a drop in oil prices, offsetting the positive impact from a weaker yen. The key Tokyo Commodity Exchange rubber contract for Aug
Published 16 Mar, 2010 12:00am
Shahbaz meets Kayani

Shahbaz meets Kayani

Punjab Chief Minster Shahbaz Sharif met Army Chief General Ashfaq Pervez Kayani at the Army House on Monday, sources told Business Recorder. They exchanged views regarding the on-going terrorist activities across the country particularly recent sui
Published 16 Mar, 2010 12:00am
US wheat dips on profit-taking; corn and soya tick lower

US wheat dips on profit-taking; corn and soya tick lower

US wheat futures slid half a percent on Monday, while corn and soyabeans ticked lower as a firm dollar weighed on the grain markets amid profit-taking in wheat after gains in the previous session. The market's attention is turning towards the weather in t
Published 16 Mar, 2010 12:00am
Sufism can help defeat terrorism: Zardari

Sufism can help defeat terrorism: Zardari

President Asif Ali Zardari said on Monday that entire free world was responsible for extremism in the region as once the objectives were achieved the militants were abandoned to their fate. The President said this while addressing an International Confere
Published 16 Mar, 2010 12:00am
French wheat exports down

French wheat exports down

France exported 1.4 million tonnes of soft wheat in January, bringing the total since the start of the 2009/10 season on July 1 to 9.0 million tonnes, French customs data showed on Monday. The wheat exports continued to run behind 2008/09 levels, showing
Published 16 Mar, 2010 12:00am
Sufism can help defeat terrorism: Zardari

Sufism can help defeat terrorism: Zardari

President Asif Ali Zardari said on Monday that entire free world was responsible for extremism in the region as once the objectives were achieved the militants were abandoned to their fate. The President said this while addressing an International Confere
Published 16 Mar, 2010 12:00am
Drought may hurt Thai sugarcane crop

Drought may hurt Thai sugarcane crop

Severe drought could cause the 2010/11 sugar cane crop in Thailand to be 10 percent lower than previously forecast at 71-72 million tonnes and lead to a drop in sugar production in 2011, a senior industry official said on Monday. Cane for the 2010-11 crop
Published 16 Mar, 2010 12:00am
PAF launches High Mark-2010

PAF launches High Mark-2010

Pakistan Air Force launched countrywide Exercise "High Mark-2010" here on Monday. Air Chief Marshal Rao Qamar Suleman, Chief of the Air Staff, Pakistan Air Force disseminated the Air Tasking Orders (ATO) to all Pakistan Air Force units. The High Mark-2010
Published 16 Mar, 2010 12:00am
Gold prices rebound

Gold prices rebound

Gold prices rebounded on Monday from a two-week low hit late last week, but remained pressured by wariness over speculation European authorities may use their vast gold reserves to help euro zone states facing fiscal problems. Gold prices fell below $1,10
Published 16 Mar, 2010 12:00am
Calvin Klein owner buys Tommy Hilfiger brand

Calvin Klein owner buys Tommy Hilfiger brand

The company behind Calvin Klein has bought fellow US fashion brand Tommy Hilfiger for 2.2 billion euros (3.0 billion dollars), Hilfiger's current owner said in a statement on Monday. "Funds advised by Apax Partners today announced a definitive agreement t
Published 16 Mar, 2010 12:00am
US government finds no problems with runaway Prius

US government finds no problems with runaway Prius

US safety regulators said Monday they were unable to find any problems with a Toyota Prius that could explain why it reportedly sped uncontrollably down a California highway last week. The tests have cast doubt upon the March 8 incident in which James Sik
Published 16 Mar, 2010 12:00am
Opec has little wiggle room at upcoming meeting

Opec has little wiggle room at upcoming meeting

With US demand for oil lacklustre, even traditional Opec price hawks like Iran and Venezuela are happy with present prices near $80 a barrel as they head into Tuesday's meeting of the 12-nation organisation. These two countries traditionally are the great
Published 16 Mar, 2010 12:00am
PPP NWFP MPAs threaten to resign

PPP NWFP MPAs threaten to resign

The MPAs belonging to Pakistan People's Party (PPP) in NWFP Assembly on Monday have warned that they will tender resignations if the formula of power sharing with ANP was not implemented in the province. The warning was issued after a meeting of parliamen
Published 16 Mar, 2010 12:00am
Japan may ease visa rules for nurses, dentists

Japan may ease visa rules for nurses, dentists

Japan may lift work visa restrictions for foreign nurses and dentists, to help care for its fast-ageing and shrinking population, the government said Monday. The immigration bureau is considering a plan to abolish visa limits for hundreds of nurses from t
Published 16 Mar, 2010 12:00am
Fata legislators join PPP

Fata legislators join PPP

Two Senators and one member of National Assembly have joined Pakistan People's Party (PPP) during a meeting with Prime Minister Syed Yousuf Raza Gilani. Sources told Business Recorder that after their meeting with the Prime Minister three parliamen
Published 16 Mar, 2010 12:00am
Libya warns Europe over energy interests

Libya warns Europe over energy interests

European countries locked in a diplomatic row with Libya should remember that their energy firms have interests in the North African country, Libya's top energy official said in an interview. Libya has stopped issuing entry visas to citizens of most Europ
Published 16 Mar, 2010 12:00am
Fata legislators join PPP

Fata legislators join PPP

Two Senators and one member of National Assembly have joined Pakistan People's Party (PPP) during a meeting with Prime Minister Syed Yousuf Raza Gilani. Sources told Business Recorder that after their meeting with the Prime Minister three parliamen
Published 16 Mar, 2010 12:00am
US suffers net capital outflow

US suffers net capital outflow

Foreign investors, led by central banks, were net sellers of all US securities in January but continued to buy US Treasuries, the Treasury Department said on Monday. China remained the largest single holder of US government debt, with $889 billion in hand
Published 16 Mar, 2010 12:00am
Snowstorms curb US industrial output

Snowstorms curb US industrial output

US industrial production braked sharply in February, held back by severe winter storms that slammed parts of the country, while manufacturing activity in New York state stalled this month. Analysts said Monday's data did not alter their views that the fac
Published 16 Mar, 2010 12:00am
Darling refuses to rule out future tax rises

Darling refuses to rule out future tax rises

British finance minister Alistair Darling refused on Sunday to rule out future tax rises to cut a gaping budget deficit. Darling is due to publish the budget for the next financial year on March 24, the last major economic showpiece before an election wid
Published 16 Mar, 2010 12:00am
Former New York bank president accused of defrauding TARP

Former New York bank president accused of defrauding TARP

The former president of privately-held Park Avenue Bank was arrested on allegations of fraud on Monday, including charges of making false statements in the failed bank's application for US government bailout funds. A criminal complaint filed in Manhattan
Published 16 Mar, 2010 12:00am
Japan ups view but keeps deflation warning

Japan ups view but keeps deflation warning

Japan's government upgraded its assessment of the economy on Monday for the first time in eight months, but reiterated that deflation posed a risk and called on the Bank of Japan for further economic support. The government has said since July last year t
Published 16 Mar, 2010 12:00am
Indian inflation nears double figures

Indian inflation nears double figures

India said Monday inflation rose to near double figures as roaring economic growth sent prices higher, fuelling expectations that the central bank will raise rates next month. Prices of fuel, rubber, plastic and cement all jumped during February, as the e
Published 16 Mar, 2010 12:00am
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