April 13, 2006	Thursday	Rabi-ul-Awwal 14, 1427

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Industrial, trading activities turn idle: Massive revenue loss KARACHI, April 12: All the industrial and trading activities in the city came to a grinding halt on Wednesday in the wake of Tuesday’s Nishtar Park tragedy....		Russian firms keen to invest in energy sector ISLAMABAD, April 12: A Russian consortium of five major companies reached an understanding with Pakistan to take part in cross-border pipeline projects and invest in import of liquefied natural gas (LNG) and other major projects....
TCP procures inferior cotton: ‘It was a human error’ MULTAN, April 12: About 300,000 bales of Grade-IV quality cotton were procured by the Trading Corporation of Pakistan (TCP) during the 2004-05 season despite being mandated to deal only in Grades II and III....		Auto makers unhappy over new policy KARACHI, April 12: Apparently unhappy over the government’s long term policy outlined by Jehangir Tareen, the federal industries minister, in a meeting on March 24, the four big foreign auto assemblers...
Oil prices near $70 on falling US inventories LONDON, April 12: The price of Brent North Sea crude reached an all-time peak of $69.97 per barrel in Wednesday trading on news of falling US gasoline stockpiles, combined with heightened tensions over Iran....		Strike hits banking activity in Karachi KARACHI, April 12: Strikes and fear of violence paralysed normal life in Karachi on Wednesday. The banks’ head offices were open but attendance was hardly 10 per cent....
ZTBL raises credit limit ISLAMABAD, April 12: Zarai Taraqiati Bank Ltd (ZTBL) has increased the maximum credit limit to 17 minor crops and 27 mature orchards in order to enable the farmers to purchase quality inputs and raise the production of various crops and fruits....		Pre-bid meeting of LCFL on 29th ISLAMABAD, April 12: The Privatisation Commission is holding a pre-bid meeting on April 29 to answer the queries of prospective bidders for acquiring 90 per cent shares of Lyallpur Chemicals & Fertilizers Limited (LCFL)....
CBR needs Rs201bn in April-June to meet target ISLAMABAD, April 12: The Central Board of Revenue (CBR) will have to collect Rs201.79 billion in the fourth quarter (April-June) for achieving the target of Rs690 billion set for the fiscal year 2005-06....		Etisalat takes over PTCL ISLAMABAD, April 12: UAE-based Etisalat on Wednesday formally took over the charge of Pakistan Telecommunication Company Limited....
Non-member KSE chief elected KARACHI, April 12: The Board of Directors of the Karachi Stock Exchange has unanimously elected Zaffar A. Khan as first non-broker/non-member chairman on the board of the KSE for the year 2006....		SBP sucks in Rs14bn KARACHI, April 12: The State Bank on Wednesday sucked in Rs14.850 billion through the auction of treasury bills....
‘Gold price may breach $850 within two years’ LONDON, April 12: Gold prices, which this week hit the highest level for over 25 years, could break the record of 850 dollars per ounce within two years on massive investment demand, metals consultancy GFMS said on Wednesday....		Govt allows cellular services in AJK ISLAMABAD, April 12: The government on Wednesday decided to allow private mobile companies to operate in Azad Kashmir and Northern Areas on permanent basis....
EU trims eurozone growth forecasts BRUSSELS, April 12: A rise in interest rates, the euro and oil prices might slow expansion of the eurozone economy this year, the European Commission said on Wednesday, trimming back its growth forecasts....		US trade deficit shrinks to $65.7 billion WASHINGTON, April 12: The US trade deficit narrowed to $65.7 billion in February as imports fell, government data showed on Wednesday, but economists said the respite would prove short-lived....
Task force to revise trade bodies’ legislation ISLAMABAD, April 12: The ministry of commerce on Wednesday constituted a task force for revising the trade bodies’ legislation to make it on a par with changing economic environment in the country....		AG allowed to import LNG KARACHI, April 12: The Associated Group (AG) has obtained a permission from the government to import Pakistan’s first ever LNG cargo this year....
Malaysian palm oil higher KUALA LUMPUR, April 12: Malaysian crude palm oil futures were higher by on Wednesday on short-covering after a holiday closure and spurred by strong US soyaoil gains....		Poultry rates KARACHI, April 12: The following are poultry rates: EGGS: Rs520 to Rs525 per crate of 30 dozens, Broiler (Live): Rs46 per kilo; Culled Bird (Live): Rs24 per kilo....
OICCI election KARACHI April 12: M Salman Burney was elected President, and Zubyr Soomro, Vice President, of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the year 2006-07....		Indian wheat futures fall NEW DELHI, April 12: Indian wheat futures fell slightly on Wednesday with new crop arrivals picking up in key grain producing northern states, while sugar prices slipped on profit taking, brokers said....