January 15, 2006	Sunday	Zilhaj 14, 1426

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IPPs plan to expand generation capacity KARACHI, Jan 14: Major Independent Power Producers (IPPs) have expressed their intentions to expand their generation capacity given the growing need for power within the country, analysts say....		FPCCI structure needs major changes: report KARACHI, Jan 14: The apex trade body of the country — the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) — functions without a well defined mandate and a vision....
Re1 FED imposed on edible oils ISLAMABAD, Jan 14: The Central Board of Revenue (CBR) has asked the customs collectorates to collect Re1 per kg as Federal Excise Duty (FED) at import stage on edible oil including crude oil and vegetable ghee and cooking oil....		Plea for protecting local auto industry LAHORE, Jan 14: Insisting that WTO is not against protecting local industry, a car assembler has called for “ensuring suitable protection to the local investment to safeguard and generate more employment in the country”....
Govt urged to sell Pakistan Steel to its employees ISLAMABAD, Jan 14: The Employees Management Group (EMG) has demanded of the government to sell Pakistan Steel Mills Corporation (PSMC) to its employees. It has also called upon the Privatization Commission...		Listless trading on cotton market KARACHI, Jan 14: The post-Eid session on the cotton market on Saturday remained insipid as spinners and mills kept to the sidelines apparently awaiting the return of normalcy to the transport sector....
Modest rise in US producer prices WASHINGTON, Jan 14: US producer prices jumped sharply in December but were well contained excluding food and energy costs, according to data released on Friday. The news is likely to reassure...		‘No need to change SBP policy direction’ KARACHI, Jan 14: The newly-appointed Governor of the State Bank of Pakistan, Dr Shamshad Akhtar, has said that she sees no need to change the current policy mix....
Vibrant capital market key to economic growth: PM ISLAMABAD, Jan 14: Prime Minister Shaukat Aziz on Saturday said a vibrant capital market, good governance and effective role of regulatory bodies were key to promoting growth in the economic sector....		EC delays revision of dumping duty on bedlinen ISLAMABAD, Jan 14: The European Commission has postponed to early next month the finalization of the revised disclosure of the interim review of the anti-dumping duty on Pakistan’s bedlinen....
Taxation treaty with S. Arabia next month ISLAMABAD, Jan 14: Pakistan and Saudi Arabia on Saturday finalized amendments in the agreement for avoidance of double taxation in respect of income between the two countries....		Functions of DG audit re-defined ISLAMABAD, Jan 14: The Central Board of Revenue (CBR) has re-organized functions, powers and jurisdiction of the Directorate General of Inspection and Internal Audit (DGIIA) as part of its programme of re-structuring the tax administration....
Pakistan attains self-sufficiency: Honey production ISLAMABAD, Jan 14: Pakistan has attained self-sufficiency in honey production and has started exports to earn foreign exchange. Honey, produced in Pakistan, is of prime quality and can be sold at a good price in the free global market....		Abolition of wharfage rate sought FAISALABAD, Jan 14: Federal of Pakistan Dry Ports Chairman Shahzad Ali Siddiqi has demanded of the government to abolish wharfage rates and dual-service charges of Karachi ports and terminals....
Sport goods fair in US from 23rd SIALKOT, Jan 14: The Sialkot Chamber of Commerce and Industry (SCCI) in collaboration with the Export Promotion Bureau will hold a Sialkot-made sports goods international exhibition in Florida, USA, on January 23-25....		US Nov crude oil imports up WASHINGTON, Jan 14: US crude oil imports in November jumped 5.8 per cent to 9.924 million barrels per day, with Nigeria knocking Venezuela out of the top four suppliers for the...
NTC hearing postponed ISLAMABAD, Jan 14: The National Tariff Commission (NTC) has postponed the public hearing scheduled for Monday to consider the proposed revision of duty on import of glass sheets....		Gold prices strike 25-year high, oil supported by supply fears LONDON, Jan 14: Gold prices hit 25-year high points this week and oil struck three-month peaks on supply concerns in Iran and Nigeria. Copper, lead and zinc prices reached record heights...
Dollar edges down on Trichet’s comment NEW YORK, Jan 14: The dollar slipped against the euro on Friday after European Central Bank President Jean-Claude Trichet said the bank must be vigilant in watching inflation expectations, using a buzz word that traders interpreted as hawkish....		No disagreement with BoJ expected, says Tanigaki WASHINGTON, Jan 14: Japanese Finance Minister Sadakazu Tanigaki said on Friday he did not expect the government to oppose any Bank of Japan decision to end its ultra-loose monetary policy, suggesting he trusted the central bank’s judgment....
China’s move to secure crude oil from Africa WASHINGTON, Jan 14: China’s moves to secure crude oil supplies in Africa for its growing economy does not threaten US energy needs, a senior US State Department official said on Friday....		GM expects improved performance DETROIT, Michigan, Jan 14: 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....
New York cotton futures higher NEW YORK, Jan 14: Cotton futures finished higher Friday on steady speculative buying, and the market is poised to keep working higher after a holiday weekend, brokers said....		Wall Street sputters ahead of holiday NEW YORK, Jan 14: US stocks stalled in morning trade Friday as investors remained cautious about upcoming corporate earnings and geopolitical events, despite generally upbeat economic reports....
Oil services seen at top of strong energy sector HOUSTON, Jan 14: Energy stocks were among the market’s best performers in 2005, and analysts say high oil and gas prices should continue that bullish trend, especially for energy services companies....		Indian markets set to be choppy MUMBAI, Jan 14: Indian shares are expected to remain choppy and rangebound next week on profit-booking by funds and investors, dealers said....
China unlikely to import wheat SHANGHAI, Jan 14: China, the world’s top producer and consumer of wheat, is unlikely to import the grain in 2006, despite an expected deficit of about 3 million tons, analysts from state-owned think-tanks said on Saturday....		US autoparts maker to invest $130m in India NEW DELHI, Jan 14: US automobile component maker Delphi Said on Saturday it would invest five billion rupees ($130 million) to manufacture fuel injection systems in India....
China allows import of kinoo BEIJING, Jan 14: China has decided to allow import of Pakistani orange (kinoo) with immediate effect, under a recent protocol signed by the two countries, it was officially stated here on Saturday....		Karachi Port operations KARACHI, Jan 16: Eight ships carrying palm oil and to load fresh fruits and molasses are expected to arrive at the outer anchorage on Sunday according to KPT sources....