December 16, 2005	Friday	Ziqa’ad 13, 1426

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WTO states fail to break deadlock in farm talks HONG KONG, Dec 15: The 149-member WTO on Thursday apparently failed to break the deadlock in farm negotiation and industrial goods despite the United States offer of duty-free market access to the African cotton farmers....		Higher payments push dollar rates KARACHI, Dec 15: Heavy buying of greenback by the State Bank of Pakistan (SBP) and banks for making payment of oil bills, profits and dividends of companies pushed the US dollar rate in the interbank market....
World Bank calls for urgent action: Doha Round agenda HONG KONG, Dec 15: The developing countries are being short changed by the global trading system and the current talks in Hong Kong are falling far short of fixing the core problems....		Industry needs fair tariff protection HONG KONG, Dec 15: Pakistani representatives have been asked to ensure a just and fair tariff protection for a sustainable development of the country’s manufacturing sector while negotiating with developed and developing countries at the sixth ministerial conference....
Oil prices forcing Pakistan to rely on loans ISLAMABAD, Dec 15: Pakistan will have to rely on foreign resources if domestic fiscal effort remains muted due to the likely impact of high oil prices on inflation, an official report says....		Halt in gas supply hits textile units LAHORE, Dec 15: Sui Northern Gas Pipelines Limited (SNGPL) stopped supply to about 40-42 captive power plants (CPP) for an indefinite period in Sheikhupura and on Sheikhupura-Faisalabad and Gujranwala roads on Thursday, forcing closure of industrial units in the area....
G-20 wants export subsidies eliminated by 2010 HONG KONG, Dec 15: The G-20 trade ministers on Thursday urged the rich countries, including the European Union, to announce specific end date for complete elimination of all kinds of export subsidies and movement in the cotton issue....		Stocks stage snap rally, up by 84.72 points KARACHI, Dec 15: Shares on Thursday staged a snap rally on active short-covering on selected counters aided by reports of higher earnings and predictions of enhanced dividend and bonus shares....
Ginners increase asking prices KARACHI, Dec 15: Trading activity on the cotton market on Thursday considerably slowed down as ginners again raised their asking prices amid rumours of fall in arrivals of phutti into ginneries....		Knitwear exporters call for cut in export refinance rate LAHORE, Dec 15: Knitwear exporters have called for a major cut in export refinance rate to bolster exports, which dropped by 11.22 per cent in the first four months of the current fiscal year....
TRIPS agreement review HONG KONG, Dec 15: Speakers at a seminar urged the Trade Related Intellectual Property Rights (TRIPs) Council to consider the proposals of the developing countries in the review process....		27pc growth in Indus Motor profit KARACHI, Dec 15: Indus Motor Company reported 27 per cent growth in its 1QFY06 profit after-tax (PAT) of Rs466 million, compared to Rs368 million earned in the same quarter last year....
Oil prices mixed LONDON, Dec 15: World oil prices were mixed on Thursday amid rising crude stocks in the United States and forecasts of cold weather across the country’s fuel-hungry northeastern region, dealers said....		Minister assures no gas shedding by next year ISLAMABAD, Dec 15: Federal Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon has said that steps were underway to ensure no load-shedding of gas by next year in any part of the country....
Karachi Port operations KARACHI, Dec 15: Seven ships, including Taisetsu, to load 1,500 tons of fresh fruits and naphtha, are expected to arrive at the outer anchorage on Friday, according to KPT sources....		EU budget deal BRUSSELS, Dec 15: A deal on the European Union’s long term budget on Thursday is vital to the bloc’s economic development as it struggles with the challenges of an ageing population and global competition, a senior EU official said....
Asian stocks close mixed HONG KONG, Dec 15: Asian stocks closed mixed on Thursday with gains stemming from another positive performance on Wall Street limited by fears of inflation and a second straight fall in Tokyo....		Commodity investment set to rise sharply LONDON, Dec 15: Investors plan to raise their exposure to commodities over the next three years, viewing direct investment in commodities as a long-term strategy designed to diversify their portfolios, according to a survey by Barclays Capital....
Palm oil ends lower KUALA LUMPUR, Dec 15: Malaysian crude palm oil futures extended losses on Thursday after disappointing exports data for the first half of December. Societe Generale de Surveillance, a cargo surveyor closely...		European stocks drop amid LSE takeover news LONDON, Dec 15: European stock markets dipped on Thursday against the background of a formal bid by Macquarie Bank of Australia for the London Stock Exchange....