January 22, 2006	Sunday	Zilhaj 21, 1426

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Borrowing may exceed Rs330bn target: Private sector KARACHI, Jan 21: The State Bank of Pakistan has envisaged that the monetary expansion during the current fiscal year (FY06) should be moderate and close to the credit plan target of Rs380 billion, or 12.8...		First public offering of 2006 on 25th KARACHI, Jan 21: The Bank of Khyber (BoK) will be the first security this year to make an initial public offering (IPO) and the 21st bank to be listed at the bourses....
Frequent OMOs create instability KARACHI, Jan 21: Managing the liquidity through open market operations (OMOs) has become a regular feature of the State Bank. This creates instability instead of ensuring smooth functioning of the monetary policy....		CBR disposes of 17,890 income tax appeals ISLAMABAD, Jan 21: The Central Board of Revenue (CBR) has disposed of 17,890 income tax appeals and indirect taxes adjudication cases during the first half (July-Dec) of the current fiscal year....
PM urges US businessmen to invest in Pakistan NEW YORK, Jan 21: Prime Minister Shaukat Aziz has wooed the US investors to inject their money into value-addition in agriculture, textiles, engineering and IT sectors for healthier returns....		LPG users still pay high prices KARACHI, Jan 21: Consumers are still at the mercy of LPG dealers who are fleecing them, while LPG distributors and marketing companies are trading blames for compelling consumers to pay higher prices....
All sectors open for foreign investment ISLAMABAD, Jan 21: Senate Chairman Mohammedmian Soomro has said that Pakistan is offering a lot of investment opportunities in all fields, including the power production and housing sector....		Talks on EHP with Thailand in Feb ISLAMABAD, Jan 21: An official delegation will leave for Bangkok in the first week of next month to hold the second round of study group meeting for initiation of talks on the Early Harvest Programme (EHP)....
SPI shows 0.32pc decline ISLAMABAD, Jan 21: The Sensitive Price Index (SPI) decreased by 0.32 per cent during the week ending January 20 over the previous week, according to the weekly price data released by the Federal Bureau of Statistics (FBS) here on Saturday....		Increased exports to Singapore stressed LAHORE, Jan 21: The Lahore Chamber of Commerce and Industry (LCCI) should hold a single-country exhibition in Singapore which is fast becoming a big market for Asian products and needs to be captured by Pakistani entrepreneurs....
Trade goals WASHINGTON, Jan 21: Congress could face votes this year on trade agreements with countries including Russia, Ukraine, Vietnam, Kazakhstan, Peru and Oman, US Trade Representative Rob Portman said on Friday....		US hopes for WTO progress in Davos WASHINGTON, Jan 21: US Trade Representative Rob Portman expressed hope on Friday that talks among trade powers in Switzerland next week would help get the WTO liberalization drive back on track....
Panic buying on cotton market KARACHI, Jan 21: Active trading was again witnessed on the cotton market on Saturday as the spinners indulged in panic buying fearing further increase in prices owing to a short crop....		Pakistan’s trade with Xinjiang rises BEIJING, Jan 21: China’s Xinjiang reported trade worth $340 million with Pakistan during 2005, showing an upward trend in their economic interactions....
Ministry’s no to levy on scrap ISLAMABAD, Jan 21: The ministry of finance has rejected the proposal of the CBR seeking levy of five per cent regulatory duty on import of re-rollable scrap....		CFS rates show modest fall KARACHI, Jan 21: The weighted average financing rate under CFS on the Karachi Stock Exchange last week showed a fractional fall owing to lower demand for the funds....
AZLM’s ratings KARACHI, Jan 21: The JCR VIS Credit Rating Company has upgraded the medium to long-term entity ratings of Al-Zamin Leasing Modaraba (AZLM) from BBB+ (triple B plus) to A- (single A minus) with a stable outlook....		Call to improve ports KARACHI, Jan 21: Ports and Shipping Minister Senator Babar Khan Ghauri on Saturday stressed the need for making country’s ports cost effective and customer friendly to meet growing global challenges....
World economy vulnerable to jittery markets WASHINGTON, Jan 21: A geographical shift in the destination of Iran’s foreign investments is hardly the stuff of global economic meltdowns, experts reckon, nor are alleged shenanigans at just one Japanese Internet firm....		Raw sugar prices reach 25-year high NEW YORK, Jan 21: Raw sugar prices surged to a 25-year high on Friday in one of the biggest gains in memory as professionals bet tight supplies and growing demand for cane to churn out ethanol would fan further gains....
Dollar slides on Fed comment NEW YORK, Jan 21: The dollar retreated on Friday, hurt by rising Iran tensions and comments from a Federal Reserve official suggesting the US tightening cycle is ending....		Gold sparkles, oil prices soar on global tensions LONDON, Jan 21: Gold prices hit another 25-year high this week, while oil prices raced to four-month peaks on supply fears stoked by tensions from Iran, Nigeria and the purported new al-Qaeda threat to the United States....
Kuwait casts doubt on accuracy of PIW reserves KUWAIT, Jan 21: A senior Kuwaiti oil official on Friday cast doubt on the accuracy of a report by industry newsletter Petroleum Intelligence Weekly (PIW) that the Opec producer’s oil reserves are only half those officially stated....		China plans wider opening of finance markets SHANGHAI, Jan 21: China is considering a plan to increase foreign participation in its domestic stock and bond markets, seeking to bring more outside capital into the nascent sectors, according to a media report on Saturday....
Opec must pump more oil WASHINGTON, Jan 21: US Energy Secretary Sam Bodman said on Friday he has told Opec ministers that the cartel needs to pump more oil rather than less....		Karachi Port operations KARACHI, Jan 21: Four ships carrying steel, coal and containers are expected to arrive at the outer anchorage on Sunday, according to the KPT sources....