April 19, 2006	Wednesday	Rabi-ul-Awwal 20, 1427

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Gold prices at record high, above Rs12,000 KARACHI, April 18: The domestic gold prices touched a new record peak of Rs12,078 for 10 grams on Tuesday from Rs11,745 a day earlier, registering a sharp increase of Rs333 in a single day....		Revival of accidental death insurance urged KARACHI, April 18: Minister for Commerce Humayaun Akhtar Khan on Tuesday stressed the need for reviving the National Accidental Death Insurance Scheme and ensuring better returns to the policyholders of the State Life Insurance Corporation (SLIC)....
South Asia eyes free trade zone by 2016 DHAKA, April 18: South Asian nations want to ease tariffs gradually with the aim of establishing a free trade zone in about a decade, experts at a trade meeting said on Tuesday....		Liquidity crunch persists on money market KARACHI, April 18: Serious liquidity crunch compelled banks to borrow from the State Bank despite huge injection of over Rs35 billion by the SBP on Tuesday....
Profit-taking halts upward journey on stock market KARACHI, April 18: The recent upward drive on the stock market on Tuesday was halted as investors took profits at the highly inflated levels on selected counters but the underlying sentiment did not show signs of nervousness....		Listless trading on cotton market KARACHI, April 18: Cotton market on Tuesday showed an easy trend as prices were lowered by Rs25 per maund to attract buyers but spinners remained busy with TCP tender....
Oil prices strike historic highs LONDON, April 18: World oil prices hit record peaks on Tuesday above $72 in London and close to $71 in New York as the market fretted over a possible military conflict between the United States and Iran....		Cotton output falls 13.65pc MULTAN, April 18: The country has produced 12.388 million bales this season, registering a shortfall of 13.65 per cent, says a fortnightly report issued by the Pakistan Cotton Ginners Association here on Tuesday....
POL to announce results today KARACHI, April 18: Pakistan Oilfields Limited (POL) -— the mover and shaker of the stock market — would come up with its three-quarter results (July-Mar 2005-06) on Wednesday....		Inflation erodes income gains NEW YORK, April 18: Pakistan’s economy is growing at a rapid pace and the government is trying to enlarge a politically moderate middle class to stem the tide of extremism, but...
MoU signed with China ISLAMABAD, April 18: The Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday inked a memorandum of understanding (MoU) with the Yinchuan Branch of China Council for the promotion of bilateral trade....		New cotton variety MULTAN, April 18: The National Institute for Biotechnology and Genetic Engineering (NIGBE), Faisalabad, has developed an insect-resistant cotton variety, which will reduce import bill of pesticides (Rs15 billion) to half....
New USTR WASHINGTON, April 18: President George W. Bush on Tuesday nominated deputy US Trade Representative Susan Schwab to step up to the top job and take on the daunting task of steering WTO talks to success....		PICIC meets merger conditions KARACHI, April 18: Pakistan Industrial Credit and Investment Corporation has decided to divert its shareholding to PICIC Insurance Limited (PIL) in excess of 30 per cent PIL’s paid-up capital for the proposed merger of PICIC and PICIC Commercial Bank Limited (PCBL)....
Ist South Asian accounting summit begins KARACHI, April 18: Chairman Central Board of Revenue (CBR), Abdullah Yousuf inaugurated the first South Asian accounting summit here on Tuesday....		Euro moves up against dollar LONDON, April 18: The euro gained against the dollar on Tuesday after economic data on inflation and housing in the US dampened expectations of further rises in interest rates by the US Federal Reserve....
Bid for hotels OTTAWA, April 18: Shareholders of Canada’s iconic Fairmont Hotels and Resorts on Tuesday approved a US$3.9bn takeover offer by Saudi Prince Alwaleed bin Talal and Colony Capital, the company announced....		Palm oil lower BANGKOK, April 18: Malaysian crude palm oil futures ended slightly lower on Tuesday as players waited for a clearer market direction, dealers said....
Port Qasim KARACHI, April 18: Three ships carrying containers, diesel oil and chemicals were berthed at QICT, Fotco Terminal and EVT during the last 24 hours, said a PQA press release on Tuesday....		Karachi Port operations KARACHI, April 18: Eleven ships including two with 20,000 tons of sugar and to load rice are due to arrive at the outer anchorage on Wednesday, according to KPT sources....