February 12, 2006	Sunday	Muharram 13, 1427

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Sugar price falls, LPG shoots up KARACHI, Feb 11: The increase in prices of sugar and LPG has mounted pressure on household budget. The good news is that sugar retail price has declined to Rs38 from Rs40-42 just before Ashura....		PTCL transfer to Etisalat soon LONDON, Feb 10: Pakistan is close to sealing its biggest privatization to date, with its state-controlled telecoms company set to transfer to Middle East-based buyer Etisalat very soon, the country’s telecoms minister said....
0.2m tons sugar to arrive by next month: Importers open LCs KARACHI, Feb 11: On the assurance provided by the prime minister that the Trading Corporation of Pakistan (TCP) would not be allowed to directly sell its sugar stocks in the open...		Indo-Iran LNG deal heading to failure NEW DELHI, Feb 11: It’s staring in your face like never before — the $20bn LNG deal with Iran may have just blown off. The Indian authorities may now be forced...
Russia debt repayment offer gets cool reply MOSCOW, Feb 11: The world’s major economies gathered at a Group of Eight meeting in Moscow reacted coolly on Saturday to Russia’s offer to repay its Soviet-era debt to official creditors early....		Wapda issues 1st Islamic certificates KARACHI, Feb 11: Wapda has issued first local currency Islamic certificates, Sukuk, which is a historic initiative for the debt market in Pakistan and it may start race to tap funds waiting to flow under the Islamic mode of investment....
High energy prices threaten growth MOSCOW, Feb 11: US Treasury Secretary John Snow said on Saturday that high energy prices are a risk to the global economy, as finance ministers from the Group of Eight (G-8)...		8 parties to bid for PAFL on 27th ISLAMABAD, Feb 11: The ministry of privatization on Saturday decided to hold bidding for the sell-off of Pak American Fertilizers Limited (PAFL) on Feb 27....
APTMA, PHMA to study textile issues jointly LAHORE, Feb 11: The All Pakistan Textile Mills Association (APTMA) and the Pakistan Hosiery Manufacturers Association (PHMA) on Saturday decided to undertake a joint study of challenges confronting the textile industry...		CBR amends tax return forms ISLAMABAD, Feb 11: The Central Board of Revenue has amended the sales tax return forms to facilitate the filing of returns. The amended improved version of sales tax return forms are placed on the CBR website: www.cbr.gov.pk,...
Turkmen gas price to rise ASHGABAT, Feb 11: Turkmenistan President Saparmurat Niyazov said the price of exported Turkmen natural gas will increase from $65 to $100 per 1,000 cubic meters, state television reported on Saturday....		Oil industry facing politically-motivated issues RIYADH, Feb 11: Oil and energy issues are very much in headlines, once again, more for political reasons than for market issues. Political considerations continue to weigh heavily, as always, in the minds of the energy fraternity....
Cotton maintains steady outlook KARACHI, Feb 11: The local cotton market remained steady on Saturday where some spinners and mill owners moved into the ring to replenish their stocks to meet their immediate future requirement of raw cotton....		India may levy 4pc VAT on sugar NEW DELHI, Feb 11: Sugar, textiles and tobacco may attract a 4 per cent value added tax (VAT) from the coming fiscal. Finance minister P Chidambaram is set to allow states...
India catches up with China in mobile growth MUMBAI, Feb 11: After trailing for years, the Indian cellular sector has finally caught up with its Chinese counterpart in terms of mobile subscriptions, at least for December ‘05....		BD premier to hold talks with Pakistan: Ratification of Safta ISLAMABAD, Feb 11: Prime Minister of Bangladesh Khaleda Zia is likely to raise the issue of ratification of South Asian Free Trade Area (Safta) with her Pakistani counterpart during her 3-day official visit to Pakistan....
Venezuela to increase heavy oil production CARACAS, Feb 11: Venezuela plans to increase production of heavy crude oil this year at existing oil fields in the Orinoco tar belt, a state oil company official said on Friday....		India to fund UNESCAP study NEW DELHI, Feb 11: Indian government will fund and bring together economic and financial experts of Asia to complete a UNESCAP study on exploring ways to utilize savings in the region...
Russia keen to join WTO MOSCOW, Feb 11: Russian President Vladimir Putin called on Saturday for the quick completion of talks with the United States on joining the World Trade Organization (WTO)....		Karzai to visit ICCI on 16th ISLAMABAD, Feb 11: President of Afghanistan Hamid Karzai will meet traders on Feb 16 at Islamabad Chamber of Commerce and Industry (ICCI) to discuss measures for increasing trade between the two countries....
World oil prices fall, metals lose shine LONDON, Feb 11: World oil prices fell this week on easing supply concerns while metals also dropped from lofty heights....		G-8 powers warn of energy menace to world economy MOSCOW, Feb 11: Group of Eight finance chiefs wrapped up “stormy” talks on Saturday at a hotel near Red Square, warning that wild energy prices threaten prospects for solid world economic growth in 2006....
Wall Street hit by bond market concerns NEW YORK, Feb 11: US stocks slumped in late-morning trade Friday after a disappointing profit outlook from pharmaceutical giant Pfizer and concerns that the bond market may be pointing to an economic slowdown....		Dollar firms on euro, falls against yen NEW YORK, Feb 11: The dollar traded mainly higher despite news of a wider-than-expected US trade gap in December, but the yen rallied on speculation about a monetary move by the Bank of Japan....
Automakers take a stand in Chicago CHICAGO, Feb 11: US automakers are seeking to hold their ground at the Chicago Auto Show in the face of the rising power of Asian carmakers, especially Toyota, which is vying to muscle into the top truck segment....		Benin, Brazil call for scrapping all poor nations’ debt COTONOU, Feb 11: Brazilian President Luiz Inacio Lula da Silva and his Benin counterpart Mathieu Kerekou have called for the cancellation of all debt owed by poor nations to the industrialised world....
NY cotton settles easier NEW YORK, Feb 11: Cotton futures ended with slight losses Friday on speculative sales and switch trade as the market traded in a band and showed little sign it would break out of it soon, brokers said....		NY gold, other metals sink on liquidation NEW YORK, Feb 11: US gold futures dropped 2.6 per cent to finish sharply lower on Friday, as heavy fund and speculator selling pounded the precious and base metals following recent steep gains, dealers and analysts said....
Indian rice exports rise MUMBAI, Feb 11: Rice exports from India, the world’s second-largest producer, will be between 4.5 and 5.0 million tons in the fiscal year to March compared with 4.7...		Port Qasim KARACHI, Feb 11: Shipping activity remained brisk at the port where three ships carrying containers and diesel oil took berths at the Qasim International Container Terminal and Fotco Oil Terminal during the last 24 hours on Saturday....