February 16, 2006	Thursday	Muharram 17, 1427

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Proposal to ratify Safta approved ISLAMABAD, Feb 15: The cabinet on Wednesday approved a proposal to ratify the South Asia Free Trade Area (Safta) agreement. Except for Pakistan and Sri Lanka all other Saarc member countries have already ratified the treaty....		Violence frightens off foreign investors LAHORE, Feb 15: It is hard to estimate the quantum of losses caused to the businesses and property on Tuesday by the angry mobs protesting against the publication of sacrilegious caricatures...
Saarc treaty on tax endorsed ISLAMABAD, Feb 15: Pakistan on Wednesday ratified the Saarc Limited Multilateral Agreement on avoidance of double taxation and mutual administrative assistance in tax matters. An official in the Central Board of...		Public-private partnership to boost efficiency: Upgrading ports KARACHI, Feb 15: International Association of Ports and Harbours (IAPH) secretary general Dr Satoshi Inoue said on Wednesday that ports could only face challenges of rapid globalization by fostering strong public-private partnerships....
Index hits career-best level, up 339.20 points KARACHI, Feb 15: The KSE 100-share index on Wednesday bounced back on massive foreign buying in some leading oil and bank shares followed by local speculative support by the punters, signalling that the best is still to come....		IBs to use Wapda Sukuk as T-bills KARACHI, Feb 15: Islamic banks (IBs) have been allowed to use Wapda Sukuk for meeting Statutory Liquidity Requirement (SLR) which would be first Islamic bonds to be used as security papers like T-bills....
Exports up by 21pc in seven months ISLAMABAD, Feb 15: Pakistan’s export of merchandise recorded a growth of 21.29 per cent to $9.302 billion during the seven months (July-Jan) period of the current fiscal compared to $7.669...		Two firms in gold project deal TORONTO, Feb 15: Barrick Gold Corp said on Tuesday it has agreed to acquire 50 per cent of Tethyan Copper Co Ltd’s Reko Diq project and other mineral interests in Pakistan if Antofagasta Plc’s bid for Tethyan is successful....
Oil prices fall LONDON, Feb 15: World oil prices fell on Wednesday to the lowest levels for almost two months after official data revealed healthy stockpiles of US energy....		Shell Pakistan profit up by 30pc KARACHI, Feb 15: Shell Pakistan Limited posted after tax profit at Rs1,192 million for the six months ended December 31, 2005, representing 30 per cent increase over Rs917 million earned in the corresponding period of the previous year....
Indian firms eye stakes in SSGC, SNGP NEW DELHI, Feb 15: Indian state-run energy firms may bid for stakes in Pakistan’s Sui Southern Gas Co. Ltd., which is being privatized, a top Indian official said on Wednesday....		Diesel market LONDON, Feb 15: Middle Eastern refiners will increasingly have to compete with plants in Asia to supply Europe with middle distillates such as diesel and jet fuel, an official at Bahrain’s state-owned refiner said....
Spinners indulge in big-lot business KARACHI, Feb 15: Active trading was witnessed on the cotton market on Wednesday as leading spinners indulged in big-lot business around the previous levels fearing further increase in prices....		Pakistan, BD to sign FTA by September DHAKA, Feb 15: Bangladesh and Pakistan will soon start formal negotiations on bilateral free trade agreement (FTA) in a bid to sign the deal by September this year, Bangladesh’s Foreign Minister Morshed Khan said here on Wednesday....
Cargo complex progress reviewed KARACHI, Feb 15: The board of directors of Pakistan International Airlines at a meeting held here on Wednesday reviewed progress of work on construction of a cargo complex at the Allama...		Promotions in HBL KARACHI, Feb 15: Habib Bank has promoted its 850 clerical staff to officer grade III. The promotions, made for the first time, were strictly on the basis of a totally transparent process....
Trade potential LAHORE, Feb 15: There is a lot of potential for increasing trade between Pakistan and the Netherlands particularly, through export of mango, which has great demand in the world market due to its quality and taste....		Gold drifts down LONDON, Feb 15: Gold eased into a narrow range in Europe on Wednesday above the previous day’s five-week lows, with market players seeking a solid base, dealers said....
Palm oil up KUALA LUMPUR, Feb 15: Surging exports helped Malaysian palm oil ends up for a fifth straight day, with traders saying the market could break a major resistance during an industry conference next week....		Karachi Port operations KARACHI, Feb 15: Five ships carrying containers and general cargo and to load naphtha and fish are expected to arrive at the outer anchorage on Thursday, according to KPT sources....