February 9, 2006	Thursday	Muharram 10, 1427

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150pc rise in govt borrowing recorded KARACHI, Feb 8: A fast monetary growth is emerging as a challenge to the tight monetary policy being followed by the State Bank, as the rate of growth in six-and-a-half months...		TCP enhances time limit for shipments: Import of 50,000 tons urea MULTAN, Feb 8: The TCP has revised its earlier terms and conditions pertaining to shipment and delivery of urea. The corporation imports through private firms and later supply it to the growers at subsidized rates....
Government may approve dryport in Kashmir ISLAMABAD, Feb 8: The government is expected to approve the establishment of a new dryport in Azad Kashmir and levy a 15 per cent regulatory duty on export of gur to contain increase in sugar price....		‘$45 oil prices must to maintain output levels’ HOUSTON, Feb 8: Saudi Arabia’s oil minister said on Tuesday that today’s soaring oil prices were not sustainable long-term, but that prices must be between $45 and $50 a barrel for...
EU downplays WTO ruling on GM crops BRUSSELS, Feb 8: The European Union put a brave face on Wednesday on a WTO ruling that it had imposed unfair restrictions on genetically modified crops, insisting there is no need to change its current GM approval system....		India urged to eliminate negative list DHAKA, Feb 8: Smaller economies in the South Asian Free Trade Area (Safta) should try to persuade India to eliminate the negative list of items that are kept out of trading...
WTO wants Doha agenda concluded by year-end ISLAMABAD, Feb 8: World Trade Organization (WTO) Director General Pascal Lamy has urged the negotiators to intensify contacts with other delegations to move the process forward for early conclusion of the...		Japan-India FTA talks likely this summer TOKYO, Feb 8: Japan hopes to open talks with India by this summer on a free-trade agreement, which would open the way for Asia’s largest economy to invest more in the emerging giant, an official said on Wednesday....
Oil prices decline LONDON, Feb 8: World oil prices dipped on Wednesday as markets took reassurance from news of a strong rise in United States gasoline reserves, despite a surprise drop in crude inventories....		Pakistan to ink fashion design deal with France ISLAMABAD, Feb 8: Pakistan will sign an agreement with a French school of fashion for enhancing collaboration in fashion designs of textile products. An official told Dawn on Wednesday that the...
Asian investors to stay big dollar holders TOKYO, Feb 8: Asian institutional investors, including central banks, will remain a big part of the US dollar bond market and are not worried about a US housing bubble, Freddie Mac’s new treasurer said in an interview on Wednesday....		Dhaka rejects Tata’s demand for incentives: $3bn investment DHAKA, Feb 8: A proposed investment of $3 billion by the Tata Group depends on whether the Indian conglomerate is willing to shift from its demand for special incentives, Bangladesh’s energy and mineral resources adviser Mahmudur Rahman said on Tuesday....
ADB chief warns against FTAs in Asia TOKYO, Feb 8: A proliferation of bilateral free trade deals in Asia risks creating a “spaghetti bowl” of overlapping measures that could actually harm companies, the head of the Asian Development Bank said on Wednesday....		Germany to retain title of champion exporter FRANKFURT, Feb 8: Germany looks set to retain its title as ‘champion exporter’ of the world for 2005, after exports topped another record last year, data showed on Wednesday....
Asian stocks close sharply lower on Wall Street and commodities HONG KONG, Feb 8: Asian stocks closed sharply lower on Wednesday in response to overnight falls on Wall Street and sharp falls in commodity prices, which took investors by surprise....		EU to probe tax relief for firms BRUSSELS, Feb 8: EU regulators will investigate Luxembourg’s tax exemptions for multinational companies, saying they may offer a disguised subsidy to attract foreign investment....
Japan forex reserves rise to $851bn TOKYO Feb 8: Japan’s foreign exchange reserves Rose by $4.8 billion in January to a record high of $851.67 billion, helped in large part by a stronger euro, the finance ministry said on Tuesday....		Australia, NZ disagree on single currency CANBERRA, Feb 8: Australia’s prime minister said on Wednesday a single currency with free-trade partner New Zealand wasn’t on his policy agenda, but added he wouldn’t rule it out if economic conditions warranted the change....
US crude oil reserves drop by 0.3m barrels WASHINGTON, Feb 8: US crude oil reserves dipped slightly over the past week, but gasoline inventories showed a sharp rise, government figures showed Wednesday. The department of Energy reported a drop...		Rice exporters’ appeal KARACHI, Feb 8: The Rice Exporters Association of Pakistan (Reap) has appealed the prime minister to direct the Frontier Works Organization (FWO) not to stop their trucks from plying on the main road of SITE area in Karachi....
Manufacturing output LONDON, Feb 8: Britain’s manufacturing output fell during 2005, official figures showed on Wednesday, recording the first annual decline since 2002, despite a pick-up towards the end of last year....		WTO body post GENEVA, Feb 8: A Norwegian diplomat on Wednesday took the helm of World Trade Organization talks that are trying to deliver a treaty to tear down barriers to commerce by the end of this year....
European stocks LONDON, Feb 8: European stock exchanges closed lower on Wednesday, with the London FTSE 100 index falling 0.38 per cent to 5,725.1 points. In Paris the CAC 40 shed 0.82...		Oil, gas output NEW YORK, Feb 8: Royal Dutch Shell Plc said on Wednesday it had restored about 76 per cent of its Gulf of Mexico oil and natural gas output after Hurricanes Katrina and Rita....
Electricity exports ROME, Feb 8: Italy’s exports of electricity are “almost zero” and the country may dip into strategic gas stocks to meet power demand during a cold snap, Industry Minister Claudio Scajola said on Wednesday....		Euro drops FRANKFURT: The euro fell on Wednesday against the dollar amid strong economic reports from Washington and mixed news from Europe....