February 8, 2006	Wednesday	Muharram 9, 1427

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Delay in crushing causes price hike: Sugar touches Rs40 KARACHI, Feb 7: Having gained unlimited financial resources from the ultra liberal and a virtual free for all credit policy of the State Bank in the last four years, a small...		Early implementation of Safta suits Pakistan KARACHI, Feb 7: Pakistan should ratify Safta at the earliest in order to be able to claim its share in dividends of closer economic relations in the South Asian region....
Import of CBU cars rises by 256 per cent ISLAMABAD, Feb 7: The import of complete knocked-down (CKD) and semi-knocked-down (SKD) cars recorded a decline of 6.8 per cent during the first half (July-Dec) of the current fiscal year over the same period of last year....		Argentine firm to set up pharma plant ISLAMABAD, Feb 7: An Argentine pharmaceutical company, in collaboration with a local company, would set up Pakistan’s first biotech pharmaceutical plant to manufacture medicines for the treatment of Hepatitis C and Cancer....
KSE 100-share index gains another 111.46 points KARACHI, Feb 7: The KSE 100-share index on Tuesday breached through the second consecutive barrier boosted by fresh heavy buying in oil and bank shares following reports of higher corporate earnings and expectations of handsome payouts....		$1.6 billion spent on repayment of debt, liabilities KARACHI, Feb 7: Pakistan spent $1.519 billion on servicing its external debt during the first half (July-Dec) of this fiscal year. This included repayment of $1.079...
Derivatives SECP body for open licensing regime ISLAMABAD, Feb 7: A committee formed by the Securities and Exchange Commission of Pakistan (SECP) for introducing exchange-traded derivatives (ETDs) in Pakistan has recommended an open licensing regime so that existing and new exchanges could qualify for derivatives trading....		State Bank injects Rs13 billion KARACHI, Feb 7: The State Bank on Tuesday injected over Rs13 billion into the inter-bank market which witnessed highest possible overnight rates but no bank approached the discount window of the SBP....
Funds of Rs8bn for shipping sector KARACHI, Feb 7: Federal Minister for Ports and Shipping Babar Khan Ghauri has said that over Rs8 billion are available for improving port facilities and development of the shipping sector under various schemes....		Oil prices slip LONDON, Feb 7: Oil prices tumbled on Tuesday on expectations of rising US energy inventories and easing supply concerns over Iran’s controversial nuclear energy programme, analysts said....
Dollar slides LONDON, Feb 7: The dollar slipped against the euro and yen on Tuesday, namely on fears that Japan’s biggest life insurer, Nippon Life, might shun a US Treasury auction this week....		NA body recommends to refer TDAP bill to parliament ISLAMABAD, Feb 7: The National Assembly standing committee on Commerce (NASCC) on Monday recommended to send the draft bill for the establishment of the Trade Development Authority of Pakistan (TDAP) to the parliament for discussion....
Fears of short lint supply continue KARACHI, Feb 7: The cotton market on Tuesday showed firm trend as fears of short supply continue to haunt spinners and mills amid an actively traded session for the second consecutive day....		SSGC to supply gas to Tuwairqi Steel KARACHI, Feb 7: Sui Southern Gas Company will supply 45 million cubic feet of gas (mmcf) per day of piped natural gas to Tuwairqi Steel Mills Limited for 10 years with the option to extend the arrangement for another 10 years....
Tk3.1bn whitened in July-Dec DHAKA, Feb 7: More than 600 Bangladeshis, including bankers, businessmen, former bureaucrats and housewives, whitened Tk3170m between July and December 2005, according to the accumulated figures of the National Board of Revenue....		PSO profit up 28.5pc KARACHI, Feb 7: Pakistan State Oil (PSO) on Tuesday reported a 28.5 per cent increase in first-half net profit to Rs3.355 billion (+ACQ-56 million) and announced an interim dividend of Rs5 per share....
Broadband hub KARACHI, Feb 7: Comstar ISA Ltd, a well-known satellite service provider, has signed an exclusive agreement with Infosat Communications of Canada to install and operate the first broadband service hub in Pakistan, a release of the company announced on Tuesday....		BP posts $22.34bn profit LONDON, Feb 7: British energy giant BP unveiled on Tuesday a near 31-per cent rise in annual net profit owing to rocketing oil prices but investors focused more on fourth-quarter earnings that undershot analysts’ forecasts....
London gold prices LONDON, Feb 7: Gold prices fell on Tuesday after attempting this week to breach a recent 25-year high, as a drop in oil prices and lack of fresh impetus prompted investors to book profits, dealers said....		Palm oil down KUALA LUMPUR, Feb 7: Malaysian crude palm oil futures closed lower on Tuesday, weighed down by weaker prices of rival US soyaoil. Traders expect activity to remain light until Friday’s release of crop and export data....
Asian stocks mostly lower HONG KONG, Feb 7: Asian stocks closed mostly lower on Tuesday with another lacklustre performance on Wall Street and the prospect of higher interest rates rattling investors who opted to take profits, dealers said....		Karachi Port operations KARACHI, Feb 7: Five ships carrying palm oil, general cargo and containers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....