February 19, 2006	Sunday	Muharram 20, 1427

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Fault lines in Pakistan’s stock exchanges KARACHI, Feb 18: Karachi Stock Exchange – Pakistan’s answer to Wall Street -has risen 17 per cent in less than two months this year and by a phenomenal 49 per cent since the winter of last year....		Trade with India to get boost: Safta ratification, train service KARACHI, Feb 18: The ratification of South Asia Free Trade Agreement (Safta) by the federal cabinet coupled with resumption of train service between Pakistan and India via Sindh-Rajhastan border this week...
Remittances up by 7.8pc in July-Jan KARACHI, Feb 18: Overseas workers’ remittances have increased by 7.8 per cent in first seven months of the current fiscal year which might even cross the government’s target of $4 billion....		SBP rides on vicious cycle of treasury bills KARACHI, Feb 18: Instead of sucking money out of the banking system, the State Bank is pumping liquidity directly into the economy through a process which is tantamount to printing of currency for the government....
Saudi Pak to set up real estate company ISLAMABAD, Feb 18: The State Bank of Pakistan has granted permission to Saudi Pak Industrial and Agricultural Investment Company to set up its new “Saudi Pak Real Estate Development Company” to finance infrastructure projects and housing schemes in the country....		Cotton market rules firm KARACHI, Feb 18: The cotton market closed the weekend session with a firm note as some of the leading spinner groups made active covering followed by reports of lower arrival figures of phutti for the fortnight ending Feb 15....
Cars’ sales surge 25pc in 7 months KARACHI, Feb 18: Sales of locally assembled cars surged by 25 per cent to 82,469 units during the last seven months (July-January) of the fiscal year 2005-06 as against 65,803 units in the same period last year....		Urea tender opening likely tomorrow MULTAN, Feb 18: Tenders for the import of 50,000 tons of urea, which were postponed by the Trading Corporation of Pakistan at the eleventh hour on Feb 13, are now likely to be opened on Monday (Feb 20)....
Offering of 5pc UBL shares approved ISLAMABAD, Feb 18: The Cabinet Committee on Privatization (CCoP) on Saturday approved the secondary public offering of five per cent United Bank Limited (UBL) shares with a green-shoe option for another five per cent....		Pakistan Bureau of Statistics approved ISLAMABAD, Feb 18: Prime Minister Shaukat Aziz on Saturday approved the establishment of the Pakistan Bureau of Statistics (PBS) with an aim to produce authentic, timely and transparent data compatible with the needs of economy and socio-economic development....
Cotton arrivals dip 14pc KARACHI, Feb 18: The arrivals of cotton fell by 13.74 per cent to 12 million bales till February 15, 2006 compared to 14.152 million bales over the same period of last year....		Global demand for halal food rising RIYADH, Feb 18: With global demand for halal food rising rapidly, the market today for such foods presents exciting opportunities. This is a sector Pakistani food companies and entrepreneurs need to look at closely and tap properly....
China overtakes India as exporter to BD DHAKA, Feb 18: China has overtaken India as a major exporter to Bangladesh. This was revealed in the latest country-wise import figures available with the commerce ministry of Bangladesh....		Wholesale prices up 11pc in January ISLAMABAD, Feb 18: The wholesale price of major commodities increased by 10.76 per cent during January 2006 over the same month of the last year....
390 textile units given GST waiver on power ISLAMABAD, Feb 18: The CBR has exempted 390 textile units from general sales tax (GST) on consumption of electricity for production of export goods....		WB, DFID assure help to increase investment ISLAMABAD, Feb 18: A joint mission of the World Bank and the Department For International Development (DFID), UK, has agreed to provide technical assistance to Pakistan to undertake studies and recommend ways to increase growth and investment in the country....
Investment under CFS rises KARACHI, Feb 18: Investment under the CFS on the Karachi Stock Exchange last week rose well over the ceiling of Rs25 billion, showing an increase of 17.18...		Mittal eyes Iranian steelmaker TEHRAN, Feb 18: Steel giant Mittal has expressed an interest in buying state-run Iranian producer Foulad-e-Mobarakeh for $5-6 billion, but the bid is highly unlikely to succeed, the Iranian firm said on Saturday....
New CEO for Hubco KARACHI, Feb 18: Mr Javed Mahmood has been appointed as Chief Executive of the Hub Power Company Limited (Hubco), With effect from March 1, 2006....		Chairman KARACHI, Feb 18: Shaikh Manzar Alam, former chairman of Korangi Association of Trade and Industry (KATI), has been elected as founder chairman of newly- formed Pakistan-Kyrgyzstan Business Forum, says a press release....
London commodities’ prices tumble LONDON, Feb 18: World oil prices dived below $60 this week, as a jump in stockpiles of US crude inventories offset concerns about possible supply disruptions in major exporter Iran....		Shape of trade deal may emerge soon: WTO WASHINGTON, Feb 18: A long-awaited breakthrough in world trade talks could emerge soon because major players all know what has to be done, the head of the World Trade Organization said on Friday....
Wall Street retreats after 3-day rally NEW YORK, Feb 18: US stocks swung lower on Friday as a hotter-than-expected report on wholesale inflation and a disappointing outlook from computer maker Dell prompted profit taking from a three-day rally....		Economy status KIEV, Feb 18: The United States announced on Friday that it had granted Ukraine market economy status, providing the nation’s pro-Western authorities with a symbolic boost weeks ahead of a key parliamentary election....
Oil contract BEIJING, Feb 18: A subsidiary of leading Chinese oil and gas producer China National Offshore Oil Company Ltd has signed a production-sharing contract for an offshore block in Equatorial Guinea, state media said on Saturday....		Karachi Port operations KARACHI, Feb 18: Eight ships carrying containers, chemicals and to load cement are due to arrive at the outer anchorage on Sunday, according to KPT sources....