January 27, 2006	Friday	Zilhaj 26, 1426

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Monetary policy to stay tight: Inflation likely to remain high KARACHI, Jan 26: The State Bank has decided to continue with the tight monetary policy for the next six months to check the inflationary pressure which may remain at the high...		MTU Karachi collection shows 35pc increase: July-December 2005 KARACHI, Jan 26: The Medium Taxpayers Unit, Karachi, achieved 35 per cent growth in revenue collection to Rs10.364 billion during the first half of the fiscal year 2005-06 compared to Rs7.666...
Musharraf invites foreign investors DAVOS, Jan 26: President Pervez Musharraf on Thursday invited the global entrepreneurs to invest in Pakistan, saying its geo-strategic location, booming economy, lucrative incentives and market of 156 million people makes the country an ideal destination for foreign investment....		Members of ABC plan investment KARACHI, Jan 26: The majority of American Business Council (ABC) members have planned future investment in Pakistan in the next 12 months as they are optimistic about the overall business climate and domestic economy....
Index gains 90 points on fresh short-covering KARACHI, Jan 26: After initial fall, stocks on Thursday staged a broad rally as investors resumed their covering operations on the blue chip counters under the lead of cement and oil shares aided by reports of higher corporate earnings....		Lint prices up as demand picks up KARACHI, Jan 26: Cotton market on Thursday showed firm trend as prices tended further higher by Rs25 per maund followed by active short-covering made by spinners and mills....
Import of agriculture technology from China under study ISLAMABAD, Jan 26: The government is considering a proposal to import agriculture implements/equipments from China for irrigation to increase per acre production of the export-oriented farm products in the next few years....		Oil rebounds as supply concerns persist LONDON, Jan 26: World oil prices rose on Thursday as ongoing supply concerns, notably in Nigeria, helped to reverse three days of losses, analysts said....
Containers’ clearance time to be reduced ISLAMABAD, Jan 26: The Central Board of Revenue (CBR) will reduce the clearance time of containers from the current nine days to one day by the year 2008....		Local firm wins oil exploration licence ISLAMABAD, Jan 26: Pakistan granted a licence on Thursday to a local firm, Techno Petroleum (Pvt) Ltd, to explore for oil and gas in a block in central Punjab....
Wheat subsidy PARIS, Jan 26: The European Union on Thursday lowered the volume of its free-market wheat exports by around 50,000 tons to 375,000 and dropped the subsidy per ton to 6.74...		US urges WTO states to take risks for trade deal DAVOS, Jan 26: US trade representative Rob Portman urged trading partners on Thursday to take risks and push for a balanced deal in stuttering global trade talks before a meeting of more than 20 WTO nations in Switzerland....
Chinese groups keen to acquire firms abroad DAVOS, Jan 26: Chinese central bank governor Zhou Xiaochuan said on Thursday that a push by Chinese groups to acquire companies abroad was matched by a desire to attain international business standards....		ICCI to set up investment body KARACHI, Jan 26: The Islamic Chamber of Commerce and Industry (ICCI) will set up an investment company for promoting investment and trade among Muslim countries....
GM posts $8.6bn loss DETROIT, Jan 26: General Motors Corp. on Thursday posted $8.6 billion loss for 2005 and said it had been “one of the most difficult years” in its history....		Dollar steady on eve of crucial US data LONDON, Jan 26: The dollar weakened against the euro and steadied against the yen Thursday on the eve of key US growth data expected to provide clues about the future direction of interest rates in the United States....
Mobile licence DAVOS, Switzerland, Jan 26: The Egyptian government will start a bidding process for the country’s third mobile phone licence within the next two weeks, Egyptian Communications Minister Tarek Kamel said on Thursday....		PTA with Mauritius ISLAMABAD, Jan 26: Pakistan and Mauritius have sorted out maximum clauses of the preferential trade agreement (PTA) which will be finalized in the next meeting....
CFA awards for 2004-05 Karachi, Jan 26: The Chartered Financial Analyst (CFA) holders were urged to strive for raising standards of Pakistani capital markets through continued exercising high professional values and conduct....		US firm fined WASHINGTON, Jan 26: ChoicePoint, the largest US company in the field of gathering consumer financial data for businesses, agreed on Thursday to pay a $15 million penalty for a data breach that exposed the personal records of 163,000 people....
Saudi oil output plan on target DAVOS, Jan 26: Top world exporter Saudi Arabia is pressing ahead on its ambitious oil expansion scheme and stepping up exploration to meet future demand, the head of state Saudi Aramco said on Thursday....		Palm oil ends up KUALA LUMPUR, Jan 26: Technical support buoyed Malaysian crude palm oil futures for a second straight day on Thursday, but trade volumes were modest with players winding down ahead of next week’s long break....
US budget deficit to hit $337bn WASHINGTON, Jan 26: Congressional experts on Thursday projected a US budget deficit of $337 billion in the current fiscal year through September 30, a modest rise from last year but less dire than earlier forecasts....		Asian stock markets mostly higher as oil prices ease HONG KONG, Jan 26: Asian stocks closed mostly higher in limited trade on Thursday amid another easing in oil prices and a slightly stronger US dollar bolstering support, particularly in Japan....
Port Qasim KARACHI, Jan 26: Three ships carrying containers and chemicals were berthed at QICT and EVT during the last 24 hours, said a PQA press release on Thursday....		Karachi Port operations KARACHI, Jan 26: Three ships carrying containers and to load naphtha are due to arrive at the outer anchorage on Friday, according to KPT sources....