January 24, 2006	Tuesday	Zilhaj 23, 1426

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KPT plans to spend Rs4.5bn on rebuilding: Regional hub port KARACHI, Jan 23: The Karachi Port Trust (KPT) is to undertake massive reconstruction and deepening of draft work of all the berths which have exceeded their designed life at an estimated cost of Rs4.5...		SBP gets access to five banks’ data: Move draws resentment KARACHI, Jan 23: The entire database of top five banks has been brought under direct access of the State Bank despite resistance from these commercial banks....
Sindh yet to respond to new NFC formula KARACHI, Jan 23: No official response has been given by the Sindh government after almost a week of the announcement of the resource distribution formula by President General Pervez Musharraf last...		State Bank concerned at rising banking spread KARACHI, Jan 23: State Bank Governor Dr Shamshad Akhtar has underscored the need to develop and deepen the fixed income securities market to offload credit pressure on commercial banks for long-term corporate financing....
Stocks hit all-time high as buying spree continues KARACHI, Jan 23: The KSE 100-share index on Monday surpassed its previous all-time high record of 10,303.00 at 10,346.47 points boosted by fresh heavy buying in the leading base shares under the lead of bank, auto and cement sectors....		Buying gets slow on cotton market KARACHI, Jan 23: Trading on the cotton market on Monday resumed on a steady note but physical business remained at a low level as spinners curtailed their ready off-take owing to higher asking prices....
Russia interested in energy sector HYDERABAD, Jan 23: Russian Deputy Trade Representative in Karachi Vitaly A. Glinkin has said that there is a vast potential for Russian goods in Pakistan’s market and Russian companies are interested in textiles, sports goods and surgical items....		Draft rules for REITs okayed ISLAMABAD, Jan 23: A meeting of the finance ministry, Securities and Exchange Commission of Pakistan (SECP) and Central Board of Revenue (CBR) here on Monday approved the SECP-formulated draft of Real Estate Investment Trusts (REITs) Rules in Pakistan....
KSE debates on vital issues KARACHI, Jan 23: An informal meeting of the members of the Karachi Stock Exchange (KSE) was held here on Monday to discuss the ‘demutalization’ issue....		KEPZ units allowed R&D support KARACHI, Jan 23: The ministry of commerce has allowed garment units at the Karachi Export Processing Zone (KEPZ) to avail a research and development (R&D) support under SRO 437(1)/2005....
Hub Power eyes stake in SSGC KARACHI, Jan 23: Pakistan’s top private power producer, Hub Power Company (Hubco), said on Monday it planned to bid for a 51 per cent stake in Sui Southern Gas Company Ltd (SSGC), when the state-run firm was privatized later this year....		New rules for chillies export to Mexico KARACHI, Jan 23: The Mexican government has introduced new sanitary and phytosanitary regulations on import of red dry chillies from abroad, including Pakistan....
Rs1 billion raised from tax on cash withdrawals ISLAMABAD, Jan 23: The Central Board of Revenue (CBR) has claimed to have raised Rs1.058 billion from the levy of 0.1 per cent withholding tax on cash withdrawals during the first half of the current financial year....		London sugar climbs LONDON, Jan 23: White sugar futures on LIFFE rose to their highest for nearly 10 years on Monday, boosted by speculative buying and general short covering after Friday’s sharp advance in New York, traders said....
Palm oil closes higher BANGKOK, Jan 23: Malaysian crude palm oil futures ended slightly higher in modest trade on Monday, chasing firmer prices of rival US soyaoil, dealers said....		Karachi Port operations KARACHI, Jan 23: Nine ships carrying steel, soyabean meal and to load ethanol are due to arrive at the outer anchorage on Tuesday, according to KPT sources....