February 3, 2006	Friday	Muharram 4, 1427

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Construction activity picks up in Karachi: Return of workers KARACHI, Feb 2: After a dull spell construction activity is picking up in the city. There was massive exodus of workers after October 8 earthquake, but now the majority of workers have returned from the quake-hit areas....		India-Pakistan sugar deal in doldrums NEW DELHI/KARACHI, Feb 2: India and Pakistan talk a lot about reviving the sugar trade between them but so far little has happened and many are doubtful much ever will....
Import bill of food items up by 44.5pc ISLAMABAD, Feb 2: The import bill of consumer goods increased by 44.57 per cent to $857 million during the first half year (July-Dec) of the current fiscal as compared to $592.897...		ECB keeps rate firm, signals March hike FRANKFURT, Feb 2: The European Central Bank held its key interest rates steady as expected on Thursday, but signalled it would raise them next month to keep a lid on inflation as recovery in the 12-country eurozone gets underway....
Kinoo exports jump by 30 per cent ISLAMABAD, Feb 2: Export of kinoo (citrus fruit) has registered growth of over 30 per cent up to December 2005, over the previous year. Official statistics available with Dawn indicated that...		Hedge trading in cotton sought KARACHI, Feb 2: The Karachi Cotton Association (KCA) has urged the government to gradually switch over to the production of BT and genetically modified cotton to meet the growing demand of the textile industry....
Fish export to China increases by 58pc BEIJING, Feb 2: Pakistan’s seafood export to China showed an upward trend during the last year, according to the Chinese customs authority. The export of seafood was amounted to $11.5...		Greenspan honorary adviser to UK govt LONDON, Feb 2: Alan Greenspan, who this week ended his 18-year reign as chairman of the US Federal Reserve, has agreed to be an honorary adviser to Britain’s finance minister Gordon Brown, the Treasury announced here on Wednesday....
KSE 100-share index sheds 31 points KARACHI, Feb 2: Stocks on Thursday came in for renewed selling under the lead of major bank and cement shares at the fag-end of the session after bulls failed to sustain...		Cotton prices register modest fall KARACHI, Feb 2: Cotton prices on Thursday showed a modest fall as some of the ginners lowered their asking prices ahead of the release of official arrival figures of phutti....
Oil falls on hefty US inventories NEW YORK, Feb 2: US crude oil futures fell below $66 a barrel on Thursday as sanctions against Iran over its nuclear programme were not seen as imminent and as hefty US petroleum inventories continued to pressure the market....		Bernanke sworn in as 14th Fed chief WASHINGTON, Feb 2: Ben Bernanke was sworn in as the 14th chairman of the Federal Reserve on Wednesday, replacing Alan Greenspan who retired after 18-1/2 years at the helm of the central bank....
SBP mops up Rs17bn KARACHI, Feb 2: State Bank on Thursday picked up excess liquidity from the banking system, keeping its pressure continues on money rates. The SBP conducted the open market operation (OMO) to mop up Rs17.5...		Takeover deal MADRID, Feb 2: Mittal Steel’s chief executive on Thursday took his European charm offensive to Madrid where he insisted his takeover of Arcelor would protect and not destroy jobs, but Spain’s government remained unconvinced....
American IT firms mulling investment LAHORE, Feb 2: Some American Information Technology (IT) companies are likely to invest in Pakistan during the next six months in response to Prime Minister Shaukat Aziz’s recent visit to the US....		Plgmea seeks removal of EPB VC KARACHI, Feb 2: Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) has threatened to boycott Expo Pakistan 2006 to mark their protest against misbehaviour of the EPB vice-chairman and other officials of the bureau....
Karachi Port operations KARACHI, Feb 2: Six ships carrying steel scrap, chemicals, and steel coils are expected to arrive at the outer anchorage on Friday, according to the KPT sources....		CFAAP criteria for best analyst KARACHI, Feb 2: A rigorous rating exercise is conducted by the Certified Financial Analysts Association of Pakistan (CFAAP) to declare the best equity analysts, a statement of the association states....
EU toughens stance on Boeing aid GENEVA, Feb 2: The European Union and United States sparred at the World Trade Organization on Thursday over aid for aircraft manufacturers Boeing and Airbus, accusing each other of breaching the rules of commerce....		Tractors KARACHI, Feb 2: The International Tractors (Pvt) Limited on Wednesday started local commercial production of Euro-F tractors. The company will produce 1,200 tractors of 80 horse power and 5,000 tractors of 60 HP during 2006, says a press release....
Directors KARAHCI, Feb 2: Kenichi Ayukawa, Masaki Sakai, Takashi Ishikawa, Shiozo Nakanishi, Yoshinobu Abe, Maj Gen (Retd) Sagheer Ahmed and M.R. Monem have been elected directors for the next three years in...		Asian stocks close mixed HONG KONG, Feb 2: Asian stocks closed mixed with a positive tone on Thursday following overnight gains in New York and on ongoing optimism surrounding the region’s economies....
GM to award $15bn in IT contracts DETROIT, Feb 2: US auto giant General Motors Corp. said on Thursday it would award a series of information technology contracts for systems integration services, valued at up to $15 billion....		European stocks fall LONDON, Feb 2: European stock markets mainly fell on Thursday after results from Anglo-Dutch energy giant Royal Dutch Shell disappointed investors. Share prices were weaker across much of Europe in early...