May 4, 2006	Thursday	Rabi-us-Sani 5, 1427

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Local gold price sets record at Rs13,099 KARACHI, May 3: The price of 24 carat gold on Wednesday touched a new record peak of Rs13,099 per 10 grams from Rs12,747 on Tuesday on the back of persistent increase in international gold rates....		Authority blamed for poor response: Gwadar port operations KARACHI, May 3: Ports and shipping experts have held the Gwadar Port Implementation Authority (GPIA) responsible for getting lukewarm response from world reputed port operators for running the country’s strategically located deep sea port of Gwadar....
Banking assets reach $60bn KARACHI, May 3: State Bank Governor Dr Shamshad Akhtar has said that the banking industry in Pakistan has witnessed a brisk growth in assets in recent years which now stand at over $60 billion....		Govt has no mechanism to check prices ISLAMABAD, May 3: Federal Minister for Industries, Production and Special Initiatives Jehangir Khan Tareen on Wednesday admitted that the government had no administrative mechanism for controlling prices of commodities following the introduction of local government system....
KSE 100-share index gains another 155.56 points KARACHI, May 3: Stocks on Wednesday finished with extended gains as investors continued to build up long positions on selected counters followed by some positive reports of new financing mechanism by the next month replacing the existing CFS....		Cotton market lacks lustre KARACHI, April 3: Trading activity on the cotton market on Wednesday was relatively slow as spinners and mills remained busy with the TCP tender business for the sale of fresh lot of all varieties....
India threatens ban on cement export KARACHI, May 3: A wave of cheer swept the local cement manufacturers as Indian Commerce and Industry Minister Kamal Nath on Tuesday warned cement producers in his country of banning cement...		CPI to cover rural areas KARACHI, May 3: For the first time rural areas of the country would be covered under the CPI (Consumer Price Index) to measure the actual level of inflation....
Saarc states can compete with Chinese products ISLAMABAD, May 3: Sri Lankan Minister for Trade, Commerce and Consumer Affairs Jeyaraj Fernandopulle on Wednesday proposed that textile producing countries in the region should collaborate with each other to compete with Chinese products in the international market....		Ban will continue: Tareen KARACHI, May 3: Industries and Production Minister Jehangir Khan Tareen said on Wednesday the government had “decided to keep the ban on all export shipments for the time being.”...
ICCI against WT on cash withdrawal ISLAMABAD, May 3: The Islamabad Chamber of Commerce and Industry (ICCI) has proposed abolition of 0.01 per cent withholding tax on cash withdrawal in excess of Rs25,000 from banks....		Oil prices fall LONDON, May 3: World oil prices fell strongly on Wednesday after data showing US inventories of crude oil and motor fuel helped ease concerns over energy supplies....
Global trade GENEVA, May 3: Sluggish WTO talks on tearing down global barriers to commerce are facing a moment of truth in the coming six weeks, US Trade Representative Rob Portman said on Wednesday....		Balochistan has great potential in minerals QUETTA, May 3: The Canadian High Commissioner Mr David B Collins has said that the volume of trade between the two countries has touched the $600 million mark and efforts are under way to increase the same....
10pc duty on wheat import ISLAMABAD, May 3: Prime Minister Shaukat Aziz has imposed with immediate effect 10 per cent regulatory duty on the import of wheat....		Hike in POL prices criticised Sukkur May 3: President Sukkur Chamber of Commerce and Industry Khalid Mehmood Khan has strongly criticised the recent increase in prices of petroleum products and has termed it a severe blow...
Tea auction NAIROBI, May 3: Kenyan tea prices were firmer at this week’s auction as buyers bought up tea to meet orders they were previously unable to handle due to a drought-induced shortage, brokers said on Wednesday....		Insurance ombudsman KARACHI, May 3: Justice (Retd) Syed Ali Aslam Jafri has taken over the charge of Federal Insurance Ombudsman with effect from May 2, says an announcement....
Asian stocks close higher HONG KONG, May 3: Asian stocks closed mostly higher on Wednesday with gains on Wall Street underpinning buying which resulted in Singapore, Mumbai and Jakarta ending the day at fresh record highs....		European shares close lower LONDON, May 3: European stock markets fell on Wednesday because of concerns about oil prices and the effects of a strengthening euro coupled with a weak start to trading on Wall Street, dealers said....
Malaysian palm oil prices lower JAKARTA, May 3: Malaysian crude palm oil extended losses on Wednesday as the ringgit gained further against the US dollar, but traders said prices would likely find support at 1,450 ringgit a ton....		Kenyan tea firm NAIROBI, May 3: Kenyan tea prices were firmer at this week’s auction as buyers bought up tea to meet orders they were previously unable to handle due to a drought-induced shortage, brokers said on Wednesday....
Port Qasim KARACHI, May 3: Brisk shipping activity was witnessed at the port where two ships carrying containers and diesel oil were given berths at QICT and Fotco oil terminal during the last 24 hours, says a PQA press release....		Karachi Port operations KARACHI, May 3: Three vessels carrying containers and general cargo are expected to arrive at the outer anchorage on Thursday, according to KPT sources....