March 8, 2006	Wednesday	Safar 7, 1427

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Trade via Khokhrapar Dumping of Indian products feared KARACHI, March 7: Although border trade is yet to start at Khokhrapar, businessmen and traders fear that it would be damaging for the local business interests as cheap Indian products would flood local markets....		Month of ‘Safar’ or ‘ides of March’ KARACHI, March 7: The market took a deep breath of relief on Tuesday as the KSE-100 index closed with a gain of 138 points. A day earlier it had recorded the highest ever loss of 468 points in a single session....
Arab investment in US picking up WASHINGTON, March 7: Middle Eastern investment in the United States is once again picking up steam, showing big gains since the tense period following the Sept 11, 2001, terrorist attacks, Washington Post reported on Tuesday....		Cost-sharing accord signed with sponsors: Expo Pakistan KARACHI, March 7: The Export Promotion Bureau (EPB) and three major sponsors of ‘Expo Pakistan’ 2006, on Tuesday signed an agreement to provide funds to the tune of Rs45 million to...
Reserves to see $2.2bn addition ISLAMABAD, March 7: The government has made major revisions in budget estimates for the current fiscal year and expects to add $2.2 billion this year in the country’s foreign exchange reserves...		Corporate governance reforms discussed KARACHI, March 7: The Securities and Exchange Commission of Pakistan (SECP) and International Finance Corporation (IFC) on Tuesday organized a roundtable event to present the report on observance of standards and codes (ROSC) with respect to corporate governance in the country....
KSE 100-share index recovers 137.94 points KARACHI, March 7: Stocks on Tuesday recovered from the overnight lows as institutional traders and leading brokers covered positions at the lower levels, but the broader market lacked normal support and stayed weak....		Cotton trading remains slow KARACHI, March 7: Trading activity on the cotton market on Tuesday remained slow in the absence of strong support from spinners and mills owing perhaps to higher asking prices....
Oil prices shed $1 LONDON, March 7: World oil prices fell back on Tuesday in response to assurances from several key Opec members that the cartel would likely maintain its production quota at a ministerial meeting in Vienna on Wednesday....		SECP issues two guides ISLAMABAD, March 7: The Securities and Exchange Commission of Pakistan (SECP) has launched two guides, “Conversion of Status of Companies” and “Shareholders’ Rights”, stated an official announcement issued here on Tuesday....
Indian banks apply to open branches in Pakistan NEW DELHI, March 7: Three of India’s leading commercial banks have asked the Reserve Bank of India (RBI) for permission to open two branches each in Pakistan, the government told parliament on Tuesday....		ADB mission discusses economy with FPCCI KARACHI, March 7: A 10-member mission of the Asian Development Bank on Tuesday visited the Federation of Pakistan Chambers of Commerce and Industry and exchanged views on the present economic situation...
SMEs role in economic development stressed KARACHI, March 7: The German Consul General Ms. Verena Grafin Von Roedern, has said that small and medium enterprizes(SMEs) play a pivotal role in strengthening the economy of any country....		Horticulture share in total export only one per cent ISLAMABAD, March 7: Pakistan’s annual horticulture export stood at $140 million in 2004-05 in the international market which absorbed goods worth $79 billion, highlighting a need for the development of an...
Steel futures BARCELONA, Spain, March 7: The London Metal Exchange (LME) and New York Mercantile Exchange (NYMEX) are both readying themselves for the possible launch of a steel futures contract, exchange executives said on Tuesday....		Karachi Port operations KARACHI, March 7: Six ships carrying palm oil, steel coils and general cargo are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
Tax conference KARACHI, March 7: The Income Tax Bar Association Karachi (ITBAK) is holding a two-day “Asia Pacific Tax Conference 2006” on March 17-18. The theme of the event is “Tax system — a catalyst for economic development”....		Dollar higher LONDON, March 7: The dollar bolted ahead against the euro here on Tuesday on remarks from a regional Federal Reserve Bank head that US interest rates may have to rise further....
BD tea prices CHITTAGONG, March 7: The average price of Bangladesh teas plunged more than 20 per cent to 54.59 taka ($0.8) per kg on poor quality at the penultimate weekly auction on Tuesday, brokers said....		Asian stocks lower HONG KONG, March 7: Asian stocks closed sharply lower on Tuesday after the prospect of higher interest rates in the US, which would force regional central banks to follow suit, returned to haunt investors....
European stock markets fall LONDON, March 7: European stock markets sank Tuesday following heavy losses on Wall Street and in Tokyo, while overnight falls in raw material prices dragged mining groups lower in London trading....		Palm oil KUALA LUMPUR, March 7: Malaysian crude palm oil futures ended down for a sixth straight day on Tuesday as players remained vague about direction in the near-term, dealers said....