January 3, 2006	Tuesday	Zilhaj 2, 1426

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Inoperative Safta victim of sour ties KARACHI, Jan 2: Political considerations have outweighed the benefits of economic and trade cooperation again when it has come to relationship between Pakistan and India, bilaterally and also within the framework...		IPPs given relaxation for new plants: Power shortages ISLAMABAD, Jan 2: The federal government has decided to relax rules for existing Independent Power Producers (IPPs) to add new power plants in a speedy manner owing to looming power shortages in the country....
Fertilizer prices raised by Rs16 per bag KARACHI, Jan 2: Fertilizer companies have increased prices by Rs16 per bag, which pushed up price of urea fertilizer from Rs479 to Rs495 per bag of 50 kg....		Increased Chinese investment sought KARACHI, Jan 2: Although during the last three years, investment from China has registered a significant increase, still there is ample scope for raising its volume....
Stocks resume new year with 115.86-point gains KARACHI, Jan 2: The KSE 100-share index on Monday resumed the new year trading on an optimistic note amid hopes that the legacy of the previous bullish year may be sustained...		Cotton market lacks lustre KARACHI, Jan 2: New year’s trading on the cotton market started on an insipid note as spinners and mills kept to the sidelines most of the time apparently haunted by delivery problems....
Govt to get Rs87bn as equity in 8 Discos ISLAMABAD, Jan 2: The federal government has decided to take over Rs87 billion worth of direct shareholding in eight distribution companies of Wapda as equity to improve their financial health and make them fully independent from Wapda control....		Gas supply to 118 power units cut LAHORE, Jan 2: The Sui Northern Gas Pipelines Limited (SNGPL) has again stopped supply of gas to 118 captive power plants (CPPs) in Lahore-Sheikhupura, Bhai Phero and Gujranwala regions, forcing the...
Quake may hit wheat output in NWFP KARACHI, Jan 2: The earthquake, which rocked the northern parts of Pakistan, may hit the wheat production capacity of NWFP this year. The State Bank’s first quarterly report pointed out that...		CNG price revised upward KARACHI, Jan 2: The CNG station owners and dealers, after creating a confusion last week by announcing Rs 1.25 per kg increase in CNG price, have now come out with a new enhanced price ranging from Rs2-2.40...
India cuts base prices of palm oils NEW DELHI, Jan 2: India, the world’s largest edible oil importer, on Monday reduced base import prices of palm and soyabean oils. But traders said the reduction in base import prices was below market expectations....		China’s economy grew faster than forecast in 2005 SHANGHAI, Jan 2: China’s economy grew 9.8 per cent in 2005, a senior Chinese official was quoted as saying Monday, faster-than-expected after a major revision upwards last month of the size of the economy in 2004....
AAML, ALL ratings LAHORE, Jan 2: The Pakistan Credit Rating Agency (Pacra) has upgraded asset management rating of Atlas Asset Management Limited (AAML) to “AM3+”, says a press announcement....		Saudis get record fine for stock scam RIYADH, Jan 2: Saudi Arabia has fined three stock traders a record 169 million riyals ($45 million) for market manipulation and banned them for three years over the latest scandal to hit booming Gulf Arab bourses....
Indian rupee MUMBAI, Jan 2: The rupee dipped on Monday, dragged down by concerns that the latest spike in international oil prices could further expand widening trade and current account deficits....		Karachi Port operations KARACHI, Jan 2: Seven vessels carrying general cargo and containers are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....