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June 21, 2006 Wednesday Jumadi-ul-Awwal 24, 1427 Balochistan allocates Rs10.81bn for ADP QUETTA, June 20: The Balochistan budget documents released on Tuesday lacked a review of the Annual Development Programme of Rs9 billion for the fiscal year 2005-06 as to how much of... Govt expects to get Rs54.8bn in dividends KARACHI, June 20: The government has set target of Rs54.8bn to be collected as dividends from public sector entities for financial year 2006-07, which analysts say will not be impacted by the recent turmoil at the stock market.... Legal view sought on basmati ‘rights’ issue ISLAMABAD, June 20: The commerce ministry has sought legal opinion from the law ministry to challenge the Indian government decision of including Pakistan’s super basmati rice in its exportable products list, it is learnt.... Agreement for acquiring Union Bank next month: SCB completes due-diligence KARACHI, June 20: Standard Chartered Bank (SCB) has completed the due-diligence for acquiring 66pc shares of Union Bank and is expected to sign share purchase agreement early next month.... Funds for scheme not utilized: Locally-made machinery ISLAMABAD, June 20: The utilisation of hundreds of millions of rupees funds allocated under the State Bank of Pakistan''s scheme for financing locally manufactured machinery (LMM) has been almost nil since 2004.... Poultry prices surge by Rs8/kg KARACHI, June 20: Poultry prices surged to Rs82 from Rs74 per kg on June 1, showing a rise of Rs8 per kg in just 20 days.... Retail price tags to mention ST amount ISLAMABAD, June 20: The Central Board of Revenue (CBR) on Tuesday allowed manufacturers to affix sales tax amount with the retail price by means of stamping or pasting stickers.... PGIC formed KARACHI, June 20: A group of Gulf Cooperation Council (GCC) and Pakistani investors announced the formation of Pak-GCC Investment Council (PGIC) to facilitate businessmen from the GCC countries investing in Pakistan.... Stocks cross 10,000-point barrier on fresh buying KARACHI, June 20: The KSE 100-share index on Tuesday maintained its upward drive on active follow-up support and again breached through the barrier of 10,000 points but analysts doubt its ability to sustain the crucial level owing to some technical factors.... CCoP to review PPL, PSO sell-off on 28th ISLAMABAD, June 20: A special meeting of the Cabinet Committee on Privatisation (CCoP) has been convened here on June 28 to accelerate the process of privatisation with special reference to disinvesting PPL and PSO by August this year.... Trade ties GENEVA, June 20: The World Trade Organisation on Tuesday urged Taiwan to adopt freer trade ties with China in order to stimulate growth and investment. In its first-ever review of Taiwan''s... Listless trading on cotton market KARACHI, June 20: Cotton market on Tuesday lacked normal trading interest as leading ginners again kept to the sidelines but some others lifted stray lots of low-mic from the central Sindh ginneries at rates in line with the quality premiums.... Textile products export up 18.44pc ISLAMABAD, June 20: The export of textile products increased by 18.44 per cent to $8.931 billion during the July-May period of the current fiscal year as compared to $7.541... Rice exports slow on low stocks KARACHI, June 20: Pakistani rice prices were steady to firmer over the past week, supported by dwindling stocks, and exports will remain slow in coming weeks, traders said on Tuesday.... Import bill rises by 39.36pc ISLAMABAD, June 20: The import bill of petroleum products, machinery and agriculture implements recorded a hefty growth during 11 months (July-May) of the fiscal year 2005-06, over the same period last year.... Karachi Port operations KARACHI, June 20: Seven ships carrying containers and to load rice and naphtha are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... BD tea prices DHAKA, June 20: The average price of Bangladesh teas slid slightly to 99.45 taka ($1.42) per kg at a weekly auction on Tuesday, brokers said. “Some 994,686 kg were sold at an average price of 99.45... Asian stocks tumble HONG KONG, June 20: Asian stocks tumble as investors headed for the exits again on Tuesday, taking their cue from Wall Street after another US central bank warning on the dangers... European stocks fall LONDON, June 20: European stocks fell on Tuesday, mirroring slides in Japan and on Wall Street, as fears of higher U.S. interest rates continued to drive the markets while the yen... Palm oil ends down after export data KUALA LUMPUR, June 20: Malaysian crude palm oil futures closed slightly lower on Tuesday after cargo surveyor SGS reported a slight drop in palm oil shipments for June 1-20, traders said....

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