December 14, 2005	Wednesday	Ziqa’ad 11, 1426

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7pc GDP growth may not be achieved ISLAMABAD, Dec 13: The government is unlikely to achieve its 7 per cent GDP growth rate in 2005-06 due to a decline in cotton and sugarcane crops and is banking more...		New Delhi to support Islamabad’s proposal: Tariff cut on industrial goods HONG KONG, Dec 13: India will support Pakistan’s proposal for seeking a deeper cut in tariffs on industrial goods of rich countries in the current round of negotiations at the ministerial conference....
G-20 demands big cut in export, farm subsidies HONG KONG, Dec 13: The G-20 representing 21 developing countries has demanded a substantial reduction in domestic agriculture and export subsidies given by developed countries. They feel that these subsides are...		G-33 seeks relief in tariffs HONG KONG, Dec 13: G-33 states in a declaration issued here on Tuesday stated that placing development at the centre of the round for agriculture must be understood as ensuring real...
Low inflation diminishes hopes for high return: Treasury bills KARACHI, Dec 13: The ‘unexpected decline’ in inflation below 8 per cent has wiped out banks’ hopes to get higher return on T-bills. Despite outflow of Rs4.2...		EoIs for SNGPL shares invited ISLAMABAD, Dec 13: The Privatization Commission (PC) has invited Expressions of Interest (EoI) from strategic investors to divest 51 per cent shareholding in Sui Northern Gas Company Ltd (SNGPL), a statement issued here on Tuesday said....
Stocks undergo mild correction amid profit-selling KARACHI, Dec 13: Stocks on Tuesday suffered a mild correction as some of the leading base shares came in for active profit-selling at the higher levels and fell under the lead of National Bank and PTCL....		Prices move up on cotton market KARACHI, Dec 13: Cotton prices on Tuesday tended further higher by Rs25 per maund as spinners and mills covered positions against their forward sales of cotton yarn and cloth....
World economy at risk from $70 oil: study LONDON, Dec 13: Global economic growth would be threatened if oil prices average $70 per barrel next year, according to a study by Merrill Lynch. “Investors expect the global economy to...		Tata Daewoo to assemble trucks in Pakistan KARACHI, Dec 13: Tata Daewoo Commercial Vehicle Company (TDCV) of Korea here on Monday signed a technical assistance agreement (TAA) with a local company for assembling Korean trucks in Pakistan....
Sugar price rises by Rs5.50 in one week KARACHI, Dec 13: Taking advantage of the city government’s negligence, retailers and wholesalers have further raised the price of sugar by Rs1.5 per kg during the last three days, setting the commodity price at Rs32 per kg as compared to Rs26.50...		Oil prices steady LONDON, Dec 13: Oil held steady above $61 on Tuesday after Opec paved the way for a production cut early next year and forecasters predicted more cold weather in the northeast United States, the world’s biggest heating oil market....
Record SR390bn Saudi budget RIYADH, Dec 13: Unveiling a surplus 2006 budget, the largest in its history, Saudi Arabia has projected revenues for the next year at a record SR390 ($105.33)...		Karachi Port operations KARACHI, Dec 13: Seven ships carrying cars, imported wheat, and to load naphtha are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
Rice prices firm KARACHI, Dec 13: Pakistani rice prices firmed over the past week as exporters covered their positions, but dealers said on Tuesday prices could steady in weeks ahead because of healthy arrivals....		BD tea prices CHITTAGONG, Dec 13: The average price of Bangladesh teas fell 1.1 per cent to 81.77 taka per kg on lower overseas demand at a weekly auction on Tuesday, brokers said....
Asian stocks close mixed HONG KONG, Dec 13: Asian stocks closed narrowly mixed on Tuesday with investors sidelined ahead of a widely anticipated interest rate hike in the United States later in the day, dealers said....		Gold prices higher LONDON, Dec 13: Heavy demand for gold from Russia, China, India, the Middle East and possibly the United States is likely to push the price up to a record high of...
Palm oil lower KUALA LUMPUR, Dec 13: Malaysian crude palm oil futures closed down on Tuesday, surrendering early gains, after official data showed stocks of oil in the physical market had reached their highest level last month....		Karachi market rates KARACHI, Dec 13: The following were Tuesday’s commodity market rates in rupees....