May 9, 2006	Tuesday	Rabi-us-Sani 10, 1427

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$25m grant sought from ADB and World Bank: Bird flu crisis ISLAMABAD, May 8: The government is seeking at least $25 million technical assistance grant from the World Bank and Asian Development Bank to deal with bird flu crisis and support the sinking poultry industry, officials told Dawn on Monday....		Leather exports data questioned KARACHI, May 8: The Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) has contradicted the official export figures of leather garments and said that these figures did not reflect the actual exports which are far less than being projected....
Cement prices falling on low demand LAHORE, May 8: The cement prices continue to remain under pressure because of a lower demand in the local market, with the retail rate in the provincial capital dropping to Rs290 a 50kg bag....		EC begins probe into financial scam: Livestock services project ISLAMABAD, May 8: The mid-term review team of the European Commission (EC) has graded the 25.942-million-euro national Strengthening of Livestock Services Project (SLSP) as the worst project ever carried out by the commission and the Pakistan government, sources told Dawn....
Balochistan CM seeks foreign, local investment QUETTA, May 8: Balochistan Chief Minister Jam Mir Mohammad Yousuf has urged local and foreign investors to avail tremendous opportunities offered by the province in various sectors....		Oil prices dip after Iranian letter WASHINGTON, May 8: The first positive impact of the Iranian president’s letter to his US counterpart was on the market where oil tumbled to $68.50 a barrel on Monday from a record high of above $75 two weeks ago....
TBS to replace deletion plan: Automobile industry ISLAMABAD, May 8: The Engineering Development Board (EDB) on Monday finalised the tariff based system (TBS) which would replace the deletion programme for the local automobile industry to be effective from the fiscal year 2006-07....		SBP for improving data collection KARACHI, May 8: Pakistan in an era of globalisation cannot afford to ignore the importance adopting international standards in statistical system, said the Governor State Bank Dr Shamshad Akhtar on Monday....
ICI plant expansion KARACHI, May 8: ICI Pakistan Limited announced on Monday that it was evaluating a further expansion of its Soda Ash plant by an additional 65,000 tons....		KSE index gains 90 points amid mixed trading KARACHI, May 8: Stocks on Monday resumed trading on a higher note but failed to hold on to initial gains on some of the counters amid alternate bouts of buying and selling but on late short-covering finished higher....
Payment DHAKA, May 8: Bangladesh has remitted $327.5m to the Asian Clearing Union to pay for the higher cost of imports, officials of the central bank said on Monday....		Engg goods export to cross $1bn by 2007 ISLAMABAD, May 8: Pakistan’s export of engineering sector will cross the $1 billion mark by the year 2007. Addressing a press conference on the performance of engineering sector at the Hanover...
India-Pakistan unofficial trade rises by 37pc WASHINGTON, May 8: The unofficial trade between India and Pakistan increased by 37 per cent during 2005-06, although the official trade also has shown a slower but steady rise, says a report published in the US media on Sunday....		High input cost hits textile industry KARACHI, May 8: Business leaders have expressed concern over the on-going crisis in the textile industry and urged the government to provide support to the sector to maintain its viability....
Indian sugar exports ISLAMABAD, May 8: Indian sugar exporters have requested their government to exempt them from the condition of seeking prior permission for exporting 100,000 tons of the commodity to Pakistan....		Karachi Port operations KARACHI, May 8: Four ships carrying containers and general cargo are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was on...
Asian stocks close higher HONG KONG, May 8: Asian stocks closed sharply higher on Monday after Wall Street rallied to a six year high amid hopes the US Federal Reserve could soon call off its campaign of interest rate hikes....		Cotton prices ease on hasty selling KARACHI, May 8: Trading on the cotton market on Monday resumed on an easy note as official spot rates were revised downward by Rs25 per maund followed by selling by some of the ginners....