April 20, 2006	Thursday	Rabi-ul-Awwal 21, 1427

Please Visit our Sponsor (Ads open in separate window)

Increased banking spread can hit economy: State Bank warns KARACHI, April 19: The rise in banking spread is a source of concern for the policymakers since it is generally associated with deterioration in banking sector efficiency, says the SBP second quarterly report issued here on Wednesday....		India, Pakistan, Lanka to cut duty by 40pc DHAKA, April 19: Developing countries -– India, Pakistan and Sri Lanka -– will lower customs duty by 40 per cent in 2006 for the products originating from the least developed countries...
Energy security vital for growth ISLAMABAD, April 19: Prime Minister Shaukat Aziz on Wednesday said the government was planning to bridge the gap between supply and demand in energy by increasing indigenous production, import gas from Iran and Turkmenistan and import of LNG....		S. African auto plan discussed ISLAMABAD, April 19: Imtiaz A. Rastgar, vice-chairman and CEO of the Engineering Development Board, has assured representatives of the industry that the proposals made by the board on the basis of...
Bearish spell continues on stock market KARACHI, April 19: After a fairly promising opening aided by heavy covering purchases in the leading oil shares, stocks again finished lower on late selling in most of the pivotals....		WTO warned of missing deadline to end impasse WASHINGTON, April 19: The International Monetary Fund expressed anxiety on Wednesday about the World Trade Organisation’s inability to break its deadlock over world trade, and issued a strident warning against resurgent protectionism....
IMF for action on widening imbalances WASHINGTON, April 19: The dollar will have to depreciate and China’s yuan strengthen to help redress huge economic imbalances that threaten global growth, the International Monetary Fund said on Wednesday....		NIT assets rise by Rs21bn in 9 months KARACHI, April 19: National Investment Trust Limited (NIT) reported an increase of Rs21 billion in net assets under its management in the nine months period (July-March 2005-06)....
Singapore firm to set up unit at KEPZ KARACHI, April 19: Two leading Asian corporations — YYK Corporation of Japan and YKK Holding Company of Singapore — have finalised a plan to invest $15 million in setting up a manufacturing plant in Karachi Export Processing Zone (KEPZ)....		Oil prices at new peak LONDON, April 19: World oil prices on Wednesday struck fresh historic peaks above $73 in London and close to $72 in New York. The latest surge came after the US government...
Builders to import cement from India, Iran KARACHI, April 19: Chairman Association of Builders and Developers (ABAD) Hafiz ur Rahman Butt has said that his members are in contact with cement manufacturers in Iran and India to import a sizeable quantity of cement....		Sluggish trading on cotton market KARACHI, April 19: Trading on the cotton market on Wednesday failed to pick up for the second session in a row as spinners and mills awaited announcement from the TCP about their bids against the sale of 30,000 bales....
TCP issues tender for sugar KARACHI, April 19: The Trading Corporation of Pakistan on Wednesday issued a tender to buy 50,000 tons of refined sugar, with shipment due in June and bids to be submitted on April 29, an official said....		Two offers accepted for cotton KARACHI, April 19: The Trading Corporation of Pakistan on Wednesday gave counter offers to local and foreign buyers against its tender for 30,000 bales of cotton....
IDB team inspects PQA facilities KARACHI, April 19: A 3-member delegation of the Islamic Development Bank (IDB) accompanied by two officials of Tuwairqi Steel Mills Limited (TSML) visited Port Qasim on Wednesday....		Iran central bank moves to calm gold rush TEHRAN, April 19: Iran’s Central Bank moved on Wednesday to slow down a sharp rise in the price of gold, state television said on Wesdnesday, as traders spoke of increased public demand due to tensions over the Islamic republic’s nuclear programme....
SMEs role upheld KARACHI, April 19: The two-day first South Asian accounting summit organised by the Institutive of Chartered Accountants of Pakistan (ICAP) ended here on Wednesday, says a press release....		Coca-Cola profit up NEW YORK, April 19: Soft drink powerhouse Coca-Cola Co. reported on Wednesday first-quarter net income up 10 per cent to $1.1 billion even though revenues remained flat....
Asian stocks higher HONG KONG, April 19: Asian stocks cheered the prospect of an end to US interest rate hikes on Wednesday with benchmarks passing a series of milestones while brushing aside record high world oil prices....		US consumer prices up WASHINGTON, April 19: US consumer prices rose 0.4 per cent in March, while “core” prices, excluding food and energy, increased 0.3 per cent, the Labour Department reported on Wednesday....
Precious metals up LONDON, April 19: A roaring rally in precious metals continued on Wednesday as a weaker dollar and firmer oil pushed gold and silver to 25- and 23-year highs, respectively....		London sugar mixed LONDON, April 19: London benchmark sugar futures touched a 15-day peak on speculative buying toward midday on Wednesday, and traders said raw sugar futures could open little changed to firmer....
Oman oil futures SINGAPORE, April 19: Oman’s endorsement of a new Middle East sour crude futures contract offers the best hope yet for an overhaul of Asia’s beleaguered oil benchmark, although the true measure of its success lies not in Dubai but Riyadh....		Dollar steadies against euro LONDON, April 19: The dollar steadied on Wednesday above a seven-month low against the euro on news that US consumer prices had risen by more than anticipated in March....
Malaysian palm oil prices SINGAPORE, April 19: Malaysian crude palm oil futures ended higher on Wednesday on some short covering but volumes were limited as traders refrained from building large positions ahead of export data to be released later this week....		Commodity markets LAHORE, April 19: The following were Wednesday’s upcountry commodity market rates in rupees. Foodgrains (per 40 kg): Wheat 450; Jowar 400 to 700; Maize 300 to 400; Bajra 500; Barley 400 to 450....
Port Qasim KARACHI, April 19: Four ships with containers, furnace oil and fertiliser were berthed at QICT, Fotco Terminal and MPT during the last 24 hours, said a PQA press release on Wednesday....		Karachi Port operations KARACHI, April 19: Three ships including a car carrier are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves was modest where...