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April 22, 2006 Saturday Rabi-ul-Awwal 23, 1427 Oil prices hit $75 on supply concerns LONDON, April 21: Oil rose to a new peak of $75 a barrel on Friday as investment funds snapped up crude futures and tension mounted over Iran’s nuclear intentions.... CBR eyeing 1.5m taxpayers by fiscal end KARACHI, April 21: Member Direct Taxes and Additional Secretary Central Board of Revenue Salman Nabi said on Friday that the number of taxpayers would increase to 1.5... City govt, banks make huge profits: Taiser Town scheme KARACHI, April 21: The Taiser Town scheme proved a windfall for the banks, which are charging up to Rs200 for making a pay order, and the city government which increased the... Pakistan, US close to signing BIT WASHINGTON, April 21: Senior US and Pakistani officials said on Friday that the two countries were close to signing a bilateral investment treaty (BIT) and perhaps even a free trade agreement.... Egypt to cooperate in farm sector ISLAMABAD, April 21: Pakistan and Egypt have agreed to enhance mutual cooperation in crops productivity, livestock, horticulture, trade and exchange of expertise. During a meeting of Agriculture Minister Sikandar Hayat Khan... Stocks finish lower weekend session on selling KARACHI, April 21: Heavy weekend selling in leading oil and bank shares on Friday kept the bulls on their toes all the time, but they managed to save the market crash after making strong covering purchases at the lower levels later.... Market steady despite TCP cheaper sales KARACHI, April 21: Cotton market on Friday maintained a steady trend as ginners held on to their unsold positions despite the fact that the TCP has sold 31,500 bales at the lower rates as compared to open market.... SPI posts nominal increase ISLAMABAD, April 21: The Sensitive Price Index (SPI) for the week ending April 20 has registered a nominal increase over the previous week. The SPI for the lowest income group up to Rs3,000 was recorded at 140.77... Joint ADR committee KARACHI, April 21: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Small and Medium Enterprise Development Authority (Smeda) have decided to set up a joint committee on alternate... PICIC funds’ dividend declared KARACHI, April 21: PICIC Asset Management Company on Friday approved accounts of PICIC Investment Fund (PIF), PICIC Growth Fund (PGF) and PICIC Energy Fund (PEF) for the quarter ended March 31, 2006.... Dollar no longer a reference currency WASHINGTON, April 21: Russia contends that the dollar is no longer the absolute reference currency for international foreign exchange reserves, Russian Finance Minister Alexei Kudrin said here on Friday ahead of a meeting of Group of Seven finance leaders.... 70pc Chinese companies optimistic about future BEIJING, April 21: Chinese enterprises are among the most optimistic in the world, saying they are happy with the state of affairs and upbeat about prospects for the future, according to a company survey.... DIB profits up by 127pc KARACHI, April 21: Dubai Islamic Bank (DIB) has announced a record 127 per cent increase in its first quarter profit of 2006 to UAE dirham 695 million compared to 305 million in the corresponding period of 2005.... European stocks LONDON, April 21: European stock markets climbed on Friday, with the London FTSE closing at a fresh five-year high, boosted by mining and oil groups and a positive start to trading in the United States.... China seeks deeper energy ties with Saudi Arabia SHANGHAI, April 21: Chinese President Hu Jintao will head to Saudi Arabia and Africa this week aiming to secure energy deals to feed the country’s roaring economy while deepening its commercial clout in the region.... FNEL’s profits KARACHI, April 21: The First National Equities Limited (FNEL) earned Rs367.2 million profit after tax for nine months (July-March 2005-06) as compared with Rs205.6 million during the same period last year showing a growth of 78.6... Karachi Port operations KARACHI, April 21: Six ships carrying containers and to load molasses are due to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was... Mobilink service KARACHI, April 21: Mobilink, the leading cellular company, is expanding its network to cover more cities and towns. Its network services are now available in over 750 cities, towns and villages, says a press release.... PS policy lauded KARACHI, April 21: Members of various unions of Pakistan Steel had a meeting with Chairman Lt Gen (retd) Abdul Qayyum at the Operations building and expressed their appreciation for the management’s labour friendly policy.... Asian stocks close mixed HONG KONG, April 21: Asian stocks closed mixed on Friday with the market continuing to consolidate in the wake of sharp gains made earlier in the week, dealers said.... Gold prices lower LONDON, April 21: Precious metals continued their fall on Friday, with silver down over 20 per cent and gold five per cent from Thursday’s high as speculators sold long positions.... Palm oil futures BANGKOK, April 21: Malaysian crude palm oil futures ended lower on Friday and activity was thin as players awaited export estimate data next week. The benchmark third-month July crude palm oil...

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