February 4, 2006	Saturday	Muharram 5, 1427

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Business cost reduced in Pakistan, says PM ISLAMABAD, Feb 3: Prime Minister Shaukat Aziz has said that as a result of economic reforms, investment-friendly policies and availability of human capital, the cost of doing business in Pakistan has been reduced and more investors are attracted....		Cotton output short by 14.26 per cent KARACHI, Feb 3: Despite the fact that the flow of phutti (seed cotton) from farms to ginneries during the last fortnight (Jan 15 to Feb 1, 2006) slightly improved, the overall production continues to be short by 14.26...
SBP to bar banks from using HTM securities KARACHI, Feb 3: The State Bank has moved to bar banks from using up to Rs60 billion held-to-maturity securities for getting liquidity from inter-bank repo, which could put enormous pressure on...		Ordinance for setting up TDAP likely: Resistance grows ISLAMABAD, Feb 3: The proposed Trade Development Authority of Pakistan (TDAP) is likely to be established through a presidential ordinance after stiff opposition from the parliamentarians and officers of the commerce and trade group (CTG)....
Higher dividend hopes inspire bull-run KARACHI, Feb 3: The KSE 100-share index on Friday breached through three consecutive barriers and finished higher by 260 points or 2.5 per cent in heavy dividend-related and speculative buying in...		Forex reserves fall by $1 billion KARACHI, Feb 3: Pakistan’s foreign exchange reserves have declined by $1.06 billion during the first seven months of this fiscal year....
Australia interested in joint ventures KARACHI, Feb 3: Regional Director (SEASAP), Australian Trade Commission, stationed at Singapore, David Twine has said that the Australian government and businessmen are very keen to expand trade with Pakistan due to impressive economic growth in the country....		Oil prices rise on Iran tensions LONDON, Feb 3: Oil prices rebounded slightly on Friday, reversing two days of losses, as market attention returned to the nuclear crisis over Iran, analysts said....
CBR staff to monitor sugar output ISLAMABAD, Feb 3: The collector of sales tax has posted staff in a few sugar mills to monitor their production in accordance with the provisions of the sales tax act....		Setting up of Dead Sea Forum backed ISLAMABAD, Feb 3: Prim Minister Shaukat Aziz said on Friday Pakistan supported the idea of setting up ‘Dead Sea Forum’ for economic cooperation among Muslim countries....
Mittal may close plant LUXEMBOURG, Feb 3: Mittal Steel could close its only majority-owned steel factory in Luxembourg, a Mittal spokesman said on Friday, as wrangling continued over its hostile bid for Arcelor....		Pakistan to allow Indian sugar in overland KARACHI, Feb 3: Pakistan is planning to import sugar from India via a land border crossing in an effort to cut transportation time and tackle domestic shortages quickly, a senior government official said on Friday....
Ginners hold stocks for better price KARACHI, Feb 3: After remaining static for the last over a week, cotton prices on Friday showed a modest decline of Rs15 per maund on selling by some of the ginners...		Aptma flays EPB officers KARACHI, Feb 3: The All Pakistan Textile Mills Association (Aptma) has criticized the Export Promotion Bureau (EPB) officials for their inappropriate behaviour in a meeting with leather garment exporters....
US jobless rate falls to 4.7 per cent WASHINGTON, Feb 3: The US jobless rate reached a five-year low of 4.7 per cent in January, as 193,000 jobs were added to non-farm payrolls, the Labour Department announced on Friday....		Gold prices higher LONDON, Feb 3: Platinum soared to a record high on Friday, piggybacking recent soaring gold prices and getting a lift from strong demand, while gold itself marked time, traders said....
Palm oil down KUALA LUMPUR, Feb 3: Malaysian crude palm oil futures returned from a long holiday on Friday to touch the bullish mark of 1,450 ringgit a ton, but lack of follow-through buying saw the market close lower....		HK gold HONG KONG, Feb 3: Hong Kong gold prices closed near 25-year highs Friday at $573.00-573.50 US an ounce, compared to Thursday’s close of $570.50-571.00 an ounce....
Port Qasim KARACHI, Feb 3: Two container ships were berthed at QICT during the last 24 hours, said a PQA press release on Friday. Meanwhile, four more ships with containers, wheat and iron ore also got anchored at the outer anchorage....		Karachi Port operations KARACHI, Feb 3: Cargo handling activity at the wharves on Friday was maintained on the higher side owing to larger handling of general cargo including rice, according to the KPT sources....