January 14, 2006	Saturday	Zilhaj 13, 1426

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Pakistan to seek early finalization of BIT: PM’s visit to US ISLAMABAD, Jan 13: Pakistan will urge the United States for early finalization of the much-awaited Bilateral Investment Treaty (BIT), which will lead to initiation of a dialogue on signing of a free trade agreement (FTA) between the two countries....		Cut in software piracy to generate 2.4m jobs KARACHI, Jan 13: Reducing the present 35 per cent global software piracy rate by only 10 per cent over the next four years could generate 2.4...
Vigilance needed on inflation: ECB VALLENDAR (Germany), Jan 13: The European Central Bank must be vigilant and ensure inflationary expectations stay under control, President Jean-Claude Trichet said on Friday, underlining the bank’s readiness to raise interest rates again....		Thailand, US to waive some duties BANGKOK, Jan 13: The latest round of free trade talks between Thailand and the United States, briefly halted by anti-free trade rallies, ended on Friday agreeing to waive duties on farm and industrial goods, trade negotiators said....
Facilities to exporters of readymade garments sought ISLAMABAD, Jan 13: The Federation of Pakistan Chambers of Commerce and Industry has urged the government to extend more facilities to exporters of readymade garments....		PSO buys 3 cargoes of fuel oil SINGAPORE, Jan 13: Pakistan State Oil (PSO) has bought up to three fuel oil cargoes totalling 165,000 tons for January and February delivery from Middle East trader Bakri Trading, industry sources said on Friday....
Oil prices decline LONDON, Jan 13: World oil futures fell on Friday, mirroring price declines made by US natural gas, while markets remained concerned by the threat of supply disruptions in Iran and Nigeria, traders and analysts said....		Dollar falls on poor US data LONDON, Jan 13: The dollar fell against the euro at the end of the European trading week on Friday, after disappointing US retail sales and wholesale prices and expectations that the US Federal Reserve would shortly cease interest rate hikes....
Indian state seeks ban on iron ore exports RAIPUR (India), Jan 13: The head of a mineral-rich eastern Indian state said on Friday he had asked the federal government to ban iron ore exports because of shortages faced by the local industry....		US wholesale prices shoot up by 0.9pc WASHINGTON, Jan 13: A surge in energy costs pushed wholesale prices up 0.9 per cent in December, the government reported Friday. The rise in the producer price index (PPI), an indicator...
State Bank injects Rs20.2bn KARACHI, Jan 13: The State Bank on Friday injected Rs20.2 billion into the market to bring down money rates because of scarcity of liquidity....		Shift of reserves not to hit US markets WASHINGTON, Jan 13: US Treasury Secretary John Snow said on Friday some countries’ movement of reserves out of dollar-denominated assets would have only a small effect on US markets and that investors would continue to find US investments attractive....
Indo-Pak trade ISLAMABAD, Jan 13: The bilateral trade between Pakistan and India is likely to touch $1 billion during the current financial year (2005-06), a top Indian business group said on Friday....		BoJ upbeat on rise in machinery orders TOKYO, Jan 13: Japanese machinery orders grew less than forecast in November but increased for a second straight month, supporting expectations that capital spending would fuel a steady economic recovery in the coming months....
Audit shows flaws in Nigeria oil accounts ABUJA, Jan 13: The first independent audit of Nigeria’s oil and gas industry has revealed serious weaknesses in the way government accounts for the industry’s multi-billion-dollar profits, officials said on Thursday....		Tokyo bourse to raise daily trading volume TOKYO, Jan 13: The Tokyo Stock Exchange (TSE) will increase its daily trading capacity by about 70 per cent by early June to cope with volumes that have more than doubled over the past year, a report said Friday....
Dawood Bank ratings maintained LAHORE, Jan 13: The Pakistan Credit Rating Agency (Pacra) has maintained the long-term rating at “A+” (single A plus) and the short-term rating at “A1” (single A one) of the First Dawood Investment Bank Limited (FDIB)....		EU clears 3 GM maize types for market BRUSSELS, Jan 13: The European Commission gave the green light Friday for three genetically modified maize lines to be brought to market in the European Union....
GM hopes to cut costs by $4bn DETROIT, Jan 13: General Motors said on Friday it expects improved financial performance in 2006 as the struggling automaker progresses on its plan to reduce overall operating costs....		Tyco to split into three firms NEW YORK, Jan 13: Industrial giant Tyco International said on Friday it was splitting into three separate companies — in health products, electronics, and fire protection and security....
UK’s trade minister to visit India, Sri Lanka LONDON, Jan 13: Britain’s trade minister announced Friday he would lead a delegation of businessmen to India and Sri Lanka next week to boost Britain’s bilateral business relationship with the South Asian countries....		US business inventory rises WASHINGTON, Jan 13: The US business inventories rose by 0.5 per cent in November, slightly higher than forecast, with much of the increase fuelled by a rise in automotive stocks, a commerce department report revealed on Friday....
Oil shortages re-emerge in China SHANGHAI, Jan 13: Diesel oil shortages have re-emerged in China’s Guangdong province with Sinopec beginning to ship diesel to alleviate shortages in the southern manufacturing hub, state press reported on Friday....		Honda to boost output in India NEW DELHI, Jan 13: Japanese auto giant Honda Motor announced plans on Friday to invest 3.2 billion rupees ($75m) to boost production in India, a report said....
FDI in China falls by 0.5 per cent BEIJING, Jan 13: Actual foreign direct investment in China (FDI) last year slid 0.5 per cent to $60.33 billion from 2004, the government said on Friday....		Japan firms get 333 foreign assets TOKYO, Jan 13: Japanese companies’ acquisitions of foreign assets last year hit their highest level since 1990, as they switched gears away from restructuring towards growth, investment bank Nomura said in a semi-annual report on deal-making....
French economy PARIS, Jan 13: France’s economy is expected to grow 1.9 per cent this year, with the computer and aviation construction industries faring well but a cloud hanging over the automobile and farm sectors, Frenchbank Credit Lyonnais (LCL) said on Friday....		Poultry rates KARACHI, Jan 13: The following were announced by Pakistan Poultry Association on Friday. EGGS: Rs1,340 to Rs1,345 per crate of 30 dozens, Broiler (Live): Rs64 per kilo; Culled Bird (Live): Rs42 per kilo....
Asian stocks lower as Wall Street, Iran undercut sentiment HONG KONG, Jan 13: Asian stocks closed lower on Friday after losses on Wall Street sparked by the crisis over Iran’s nuclear programme hit sentiment and raised the prospect of a sharp spike in oil prices, dealers said....		Platinum 26-year high on active fund buying LONDON, Jan 13: Platinum spiked to its highest in almost 26-years on active fund buying and positive fundamentals, while gold is likely to test peaks last seen 25 years ago....