May 17, 2006	Wednesday	Rabi-us-Sani 18, 1427

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Govt fails to keep Karachi lights on KARACHI, May 16: “Karachi’s lights will glow brighter than ever before”, Dr Hafeez Sheikh, the former federal Privatisation Minister had declared on December 2 last year at the formal handing over...		Export of edible items up 42pc ISLAMABAD, May 16: Commerce Minister Humayun Akhtar Khan on Tuesday informed the upper house that the export of edible items increased by 42 per cent during the July-Nov period of the current fiscal year over the last year....
Oil firms ask govt to raise margins ISLAMABAD, May 16: Amid investigations into the oil pricing by National Accountability Bureau (NAB), the oil marketing companies and their dealers have asked the government to increase their margin up to...		Split A/C prices up Rs1,000 as demand surges KARACHI, May 16: Assemblers-cum-importers/distributors of split air-conditioners expect to sell over 700,000 units this year, as buyers are out much earlier because of the start of blistering heatwave from May as compared to the second week of June last year....
Audit of fake ST refund filers suggested LAHORE, May 16: Exporters of value added textile products have proposed to the Central Board of Revenue (CBR) to launch an extensive audit of businessmen suspected to have filed fake claims...		SECP, NIFT sign pact for e-services ISLAMABAD, May 16: The Securities and Exchange Commission of Pakistan (SECP) and National Institutional Facilitation Technologies (NIFT) here on Tuesday signed an agreement to enable the e-services initiative for the corporate sector in Pakistan....
Pakistan, China begin FTA talks ISLAMABAD, May 16: Pakistan and China on Tuesday started the third round of negotiations on bilateral free trade agreement (FTA), with officials from the two sides having technical discussions on various issues of bilateral interest....		ST waiver for more industries proposed ISLAMABAD, May 16: The commerce ministry is working on a proposal to identify more export-oriented industries for zero rating of sales tax from the next budget....
Oil prices bounce back abovt $70 LONDON, May 16: World oil prices rebounded slightly on Tuesday, after shedding over two and a half dollars the previous day, as traders seized on supply concerns over key crude producers Iran and Nigeria....		KSE 100-share index sheds another 390 points KARACHI, May 16: The KSE 100-share index on Tuesday breached through the crucial psychological barrier of 11,000, shedding another 390 points, but analysts said it could be the last bear onslaught...
YKK to invest $15 million KARACHI, May 16: YKK, the leader in manufacture of zippers and other fastening products, on Tuesday singed an agreement with the Export Processing Zones Authority (EPZA) for setting up production facility at the Karachi Export Processing Zone Phase-II....		S. Arabia launches special fund RIYADH, May 16: The Saudi government has announced setting up of special fund to protect small investors from risk involved in trading at the Saudi stock exchange....
Govt to establish TDAP soon SIALKOT, May 16: Export Promotion Bureau chairman Tariq Ikram has said that the Trade Development Authority of Pakistan (TDAP) will be established soon for improving the performance of all commercial counsellors appointed abroad to promote exports of the country....		Prices up by Rs25 on cotton market KARACHI, May 16: Cotton prices on Tuesday were quoted further higher by Rs25 per maund as spinners made frantic efforts to grab the floating stock but ginners held on to their unsold positions....
Karachi Port operations KARACHI, May 16: Seven ships carrying containers and general cargo are expected to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity at the wharves was modest...		Port Qasim KARACHI, May 16: Two ships carrying containers were berthed at the QICT during the last 24 hours, said a PQA press release on Monday. Two container ships — one edible oil vessel and one diesel oil tanker — sailed....
Asian stock markets down HONG KONG, May 16: Asian stocks extended their losses on Tuesday as investor fears over the dollar, the outlook for inflation and higher interest rates continued to punish regional markets....		Exporters flay CBR notices KARACHI, May 16: Exporters have condemned the Sales Tax Department for seeking records of last 10 years, which is against the statutory requirement that fixes record requirement period for not more than three years....
Rice export KARACHI, May 16: Pakistan’s rice exports were thin in the past week due to dwindling stocks and high domestic prices, although existing orders were being shipped, traders said on Tuesday....		British inflation climbs to 2pc LONDON, May 16: British 12-month inflation rose to 2.0 per cent in April from 1.8 per cent in March, lifted by an increase in air fares and rising domestic gas and electricity bills, official data showed Tuesday....