March, 17 2005	Thursday	06 Safar 1426

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Oil hits $56 despite output hike by Opec LONDON, March 16: World oil prices soared on Wednesday to a new record high point above $56 in New York after falls to US crude stockpiles, and despite a move by...		US investment likely to rise further ISLAMABAD, March 16: US business mission leader on Wednesday said Pakistan’s solid economic prospects and friendly policies had given confidence to the investors. Mr Amet Bozer, also the Chairman of US-Pakistan...
Oil import to put Rs100bn extra burden ISLAMABAD, March 16: The Rs100 billion additional burden, as a result of higher oil imports bill during the current fiscal year, would affect the poverty situation and growth rates besides the...		‘Misperception mars business prospects’ ISLAMABAD, March 16: A 15-member delegation of top American companies on Wednesday said Pakistan faced an image problem abroad, which was contrary to the reality but it would have to improve...
CNG-fitted cars demand goes up by 30-40pc KARACHI, March 16: Rising petrol prices has increased the demand of CNG cars by 30-40 per cent in the last one year, and assemblers have geared up their efforts to meet...		IDBP writes off Rs3.417bn NPLs of six companies KARACHI, March 16: The Industrial Development Bank of Pakistan (IDBP) has written off Rs3.417 billion non-performing loans (NPLs) of six companies against whom an outstanding liability as per the books of...
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ECO for setting up of textile business forum ISLAMABAD, March 16: The second meeting of Economic Cooperation Organization experts here on Wednesday called for effective use of water reservoirs in the member countries, setting up of a textile business...		Yields on 3-month, 1-year TBs rise KARACHI, March 16: The State Bank on Wednesday sold treasury bills worth Rs79.8 billion against the target of Rs50 billion, increasing the interest rates up to 24 basis points. The central...
Deletion: Pakistan’s application deferred ISLAMABAD, March 16: The World Trade Organization (WTO) Council for Trade in Goods (CTG) has deferred Pakistan’s application seeking extension for the continuation of deletion programme for the local auto-manufacturers. Officials...		Karachi Port operations KARACHI, March 16: Eight ships carrying sugar and to load rice are expected to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves was...
Stocks undergo massive technical correction KARACHI, March 16: The KSE 100-share index on Wednesday received massive battering followed by heavy selling in the leading base shares under the lead of OGDC and PTCL but managed to...		Prices ease on cotton market KARACHI, March 16: Cotton prices on Wednesday eased modestly from the overnight higher levels as spinners kept to the sidelines rather than making fresh commitments at current prices. However, some of...