December 7, 2005	Wednesday	Ziqa’ad 4, 1426

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NIT to be split into six parts for sell-off KARACHI, Dec 6: The National Investment Trust (NIT) -— Pakistan’s largest mutual fund that holds Rs75 billion under management — would be split into six parts, three would be distributed to...		Vehicles surpass all import items: Machinery import bill KARACHI, Dec 6: Contrary to the general perception it was not textile machinery but the cost of vehicles that topped the category of machinery import in terms of value over the last two years, the break-up of the import bill revealed....
Move to revise Companies Ordinance ISLAMABAD, Dec 6: The Corporate Law Review Committee (CLRC) here on Monday agreed to set up a sub-committee that would meet public representatives in various cities to assess the adequacy of...		Increase in gold price continues KARACHI, Dec 6: Domestic gold prices continuing their upward trend rose to Rs9,957 on Tuesday from Rs9,865 per 10 grams a day earlier owing to persistent increase in gold prices at the global level....
PM calls for new cotton vision ISLAMABAD, Dec 6: Prime Minister Shaukat Aziz on Tuesday directed the ministry of food, agriculture and livestock (Minfal) to prepare a cotton vision for the country in consultation with all stakeholders....		NTC begins dumping probe into tinplate ISLAMABAD, Dec 6: The National Tariff Commission (NTC) has initiated an anti-dumping investigation against alleged dumping of tinplate into Pakistan by the exporters from France, Germany, Italy, the United Kingdom and the United States....
KSE 100-share index gains another 52.63 points KARACHI, Dec 6: Stocks on Tuesday finished with an extended gain under the lead of bank and cement sectors despite late selling in some of the pivotals amid a briskly traded session....		Official spot rates revised upward KARACHI, Dec 6: The cotton market on Tuesday showed a firm trend as official spot rates were modestly revised upward in line with those at which most of the transactions were done....
Oil prices climb on US cold weather forecast LONDON, Dec 6: Oil prices climbed on Tuesday owing to a cold snap in the United States. New York’s main contract, light sweet crude for delivery in January, rose 24 cents to 60.15...		Performance of EDB reviewed ISLAMABAD, Dec 6: Federal Minister for Industries, Production and Special Initiatives, Jehangir Khan Tareen reviewed the performance of the Engineering Development Board (EDB) in a meeting here on Tuesday....
KSE to seek legal opinion on SECP directive KARACHI, Dec 6: The Board of Directors of the Karachi Stock Exchange made a unanimous decision to seek a legal opinion on the issue of election of chairman out of non-member directors....		Indian shipping team due tomorrow KARACHI, Dec 6: A six-member Indian delegation headed by Joint Secretary, Department of Shipping, Susheel Kumar, is visiting Pakistan from December 8 to 10 to hold talks with his Pakistani counterpart....
Asean forging ahead on economic front SINGAPORE, Dec 6: Asean may be hobbled politically but the group is forging ahead on the economic front, crafting free-trade and integration deals that analysts say are a bid to counter the growing power of China and India....		Reforms boost economy: PM ISLAMABAD, Dec 6: Prime Minister Shaukat Aziz on Tuesday said government’s policy of liberalization, deregulation and privatization as well as reforms over the past six years had turned around the country’s...
Karachi Port operations KARACHI, Dec 6: Four ships carrying containers and general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity at the wharves was relatively...		Investment KARACHI, Dec 6: DHL has reaffirmed its commitment to Pakistan with plans to upgrade its business activities and investment. This was stated by Scott Price, chief executive officer of DHL Express, Asia Pacific, at a press conference here on Tuesday....
IT moot KARACHI, Dec 6: Organizers of the exhibition and conference on connectivity and IT, Pegasus Consultancy, has confirmed the participation of leading international companies from over 12 countries at the three-day event....		Asian stocks mostly lower HONG KONG, Dec 6: Asian stocks closed mostly lower on Tuesday with investors continuing to consolidate after falls on Wall Street overnight in response to a rise in oil prices, dealers said....
Palm oil prices up SINGAPORE, Dec 6: Malaysia’s crude palm oil futures extended gains in active trade on Tuesday on technical buying and expectations of better exports in December. The third-month February contract on Bursa Malaysia Derivatives ended 11 ringgit higher at 1,413 ringgit ($373.81)...		London sugar LONDON, Dec 6: London’s white sugar market stepped back from the previous session’s eight-year high as the short covering that has helped drive the recent surge higher abated, traders said....
Terminals KARACHI, Dec 6: The Karachi Port Trust has deepened the draught of terminals up to 11 metres of the Pakistan International Container Terminal (PICT), allowing bigger vessels to take berth from December 1, 2005....		Rice prices KARACHI, Dec 6: Pakistani rice prices were steady over the past week, but dealers said prices could come down in coming weeks because of low exports and rising stocks....