May 5, 2006	Friday	Rabi-us-Sani 6, 1427

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LPG prices shoot up to Rs55-60 KARACHI, May 4: While producers have raised the price of liquefied petroleum gas (LPG) by Rs3,000 per ton, many retailers now enjoy a freehand and charge Rs55-60 per kg, up by Rs25-30 from last month....		India wants trading under negative list ISLAMABAD, May 4: India has formally asked Islamabad for trading through a negative list concept as agreed under the South Asia Free Trade Area (Safta) for increasing formal trade between the two countries....
Poultry industry seeks 10-year tax holiday ISLAMABAD, May 4: The poultry industry has sought a 10-year tax holiday in the upcoming budget as a compensation for over Rs10 billion losses it has so far suffered from the ongoing bird flu crisis....		DPW chief hopes for Gwadar deal soon ISLAMABAD, May 4: Dubai Ports World (DPW) chairman Sultan Ahmed bin Sulayem on Thursday called on President Pervez Musharraf and expressed a strong hope for management of facilities at Gwadar deep sea port and development of infrastructure....
Stocks fail to extend overnight gains, shed 37 points KARACHI, May 4: Stocks on Thursday failed to extend the overnight run-up as investors took a technical breather before resuming their covering purchases at the lower levels but the trading lacked normal aggressiveness associated with a bull market....		Cotton market rules firm KARACHI, May 4: Cotton market on Thursday showed firm trend as ginners held on to their unsold positions on the perception that pressure on future supplies could tilt the price balance in their favour....
Consortium appointed for OGDC equity divestment ISLAMABAD, May 4: The Privatisation Commission has appointed a consortium comprising Citigroup, Goldman Sachs and BMA Capital Management as Financial Advisory Consortium (FAC) for the divestment of 10 to 15 per...		Oil prices plunge as supply fears ease LONDON, May 4: World oil prices extended heavy losses on Thursday, resulting in $5 drop for light sweet crude in just two days after a surprise rise in stocks of US motor fuel, traders said....
Banks’ profit up 58pc in Q1 2006 KARACHI, May 4: First quarterly results of 2006 of the banking industry showed that banks continued to move on the profitable path as listed banks earned a profit of about 58 per cent....		French investment in LNG sector sought ISLAMABAD, May 4: Minister for Petroleum and Natural Resources Amanullah Khan Jadoon on Thursday said the government was providing a competitive environment and level-playing field to investors in downstream petroleum sector....
ECB, BoE hold rates steady FRANKFURT, May 4: The European Central Bank held its key interest rates steady as expected at its regular monthly policy-setting meeting on Thursday, but ECB Jean-Claude Trichet primed the markets for...		Euro surges LONDON, May 4: The euro shot up against the dollar here on Thursday on comments from European Central Bank head Jean-Claude Trichet that analysts said pointed to a hike in eurozone interest rates in June....
Correction THE name of the PICT chairman is Capt. Haleem A. Siddiqui and not Aleem Siddiqui as inadvertently published in the article, ‘PICT and modern container terminal project’ on page 1 of...		Pakistan and Vietnam warm up sugar trade SINGAPORE, May 4: Pakistan is turning to India to satisfy its sugar cravings and cover a shortfall in domestic supplies, while Vietnam is in the market to buy 150,000 tons of sweetener for shipment no later than August....
ME firm leads in PSO tender SINGAPORE, May 4: Middle East trader Bakri Trading has made the best offers into Pakistan State Oil’s (PSO) tender to import up to 585,000 tons of high-sulphur fuel oil for May-July delivery, industry sources said on Thursday....		Indian rupee weakens MUMBAI, May 4: The Indian rupee ended a little weaker on Thursday as the dollar rose against the yen and other major currencies, but losses were muted as a booming stock market continued to lend support....
White cement production capacity expanded LAHORE, May 4: The Maple Leaf Cement Company has invested Rs1.644 billion to expand its capacity to produce white cement from 100 tons to 600 tons per day....		SingTel eyes acquisition in Pakistan SINGAPORE, May 4: Singapore Telecommunications Ltd, Southeast Asia’s largest phone company, said on Thursday it remained keen on acquisitions in Pakistan and South Asia....
Gold edges down LONDON, May 4: Gold edged down on Thursday from a 25-year high after a recovery in the dollar, but dealers said the metal was expected to advance towards the next big target of $700 an ounce on positive momentum....		Palm oil lower KUALA LUMPUR, May 4: Malaysian crude palm oil futures ended lower on Thursday, giving up earlier gains, as traders expect overseas demand to remain subdued until China comes back to the market next week....
Port Qasim KARACHI, May 4: Brisk shipping activity was witnessed at the port where four ships to load/unload containers, edible oil and chemicals were given berths at QICT, MPT and Engro Vopak terminal, respectively....		Karachi Port operations KARACHI, May 4: Berthing activity at the Karachi port on Thursday was maintained on the higher side as the agencies tried to clear the inward rush of foreign flag vessels well in time, according to KPT sources....