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June 28, 2006 Wednesday Jumadi-ul-Sani 1, 1427 Management confident of investing $200-250m: PS modernisation KARACHI, June 27: With a hefty cash balance of Rs10 billion, an expected profit of Rs1.3 billion this fiscal year and a big fund source available in the form of land... Rs1.9bn project to modernize livestock sector ISLAMABAD, June 27: The federal government will launch a first ever Rs1.9bn subsidised national programme in all the four provinces as well as Azad Kashmir during 2006-07 to modernise the livestock sector.... CM office seeks list of markets using generators KARACHI, June 27: The Sindh chief minister’s office has now sought list of markets/shops from the Karachi Chamber of Commerce and Industry (KCCI), which will not use the KESC supply and use their own generators after 9:00pm.... Govt refuses to release imported cement KARACHI, June 27: The government has no plans to release substandard imported cement held by the customs authorities at the port. Around 100,000 tons of imported cement is presently awaiting customs... Banks issued guidelines for microfinancing KARACHI, June 27: The State Bank on Tuesday issued guidelines for commercial banks to undertake microfinance business and suggested four different modes to carry out operations.... 0.7m motorcycles produced ISLAMABAD, June 27: The motorcycle industry in the country is rapidly progressing. In 2005-06, 0.7 million motorcycles were produced. This volume will cross the one-million mark by 2010.... Oil hits $72 on multiple concerns LONDON, June 27: World oil prices rose on Tuesday, supported by refinery disruption and strong energy demand in the United States, as well as jitters over Iran, analysts said.... State Bank’s roadmap for credit risk management KARACHI, June 27: The State Bank on Tuesday issued a roadmap and time frame for adoption of Basel II, which is the banking reform to improve the credit risk management along... Index suffers another massive decline of 363 points KARACHI, June 27: The share market on Tuesday again fell on a broad front as leading investors are still in the process of digesting negative fallout of the Supreme Court verdict... UAE firms to invest $40bn ISLAMABAD, June 27: Pakistan is an attractive place for United Arab Emirates investors as more and more companies are investing in various sectors. Director of the Middle East and Central Asia... Euro gains against dollar, yen LONDON, June 27: The euro rose slightly against the dollar on Tuesday while the yen hit lows against both currencies after the governor of the Japanese central bank was called on to resign.... Deadline extended KARACHI, June 27: The State Bank has extended the deadline for the limits sanctioned by banks to individual exporters under Part-II of the export finance scheme for 2005-06 till August 31, 2006.... Job cuts TORONTO, June 27: Nortel, the Canadian telecommunications equipment maker, said on Tuesday it was cutting 1,900 jobs worldwide and creating 800 jobs in new technology centres in Mexico and Turkey.... Karachi Port operations KARACHI, June 27: Eight vessels carrying containers, palm oil and to load naphtha are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Pakistan, Jordan agree to early signing of FTA ISLAMABAD, June 27: Prime Minister Shuakat Aziz has stressed the need for an early signing of Free Trade Agreement (FTA) between Pakistan and Jordan to increase the volume of bilateral trade.... Syria lifts import ban on certain items KARACHI, June 27: Syria has lifted ban on the import of certain items of Pakistani interest, which were previously not allowed by Damascus. According to the Export Promotion Bureau (EPB) sources... Cotton market rules firm KARACHI, June 27: The cotton market on Tuesday maintained a firm outlook but physical activity remained at low ebb, as ginners were not inclined to lower their asking prices for fine... Asian stocks firmer HONG KONG, June 27: Asian stocks were mostly firmer on Tuesday in subdued trade, with modest Wall Street gains providing some support as investors waited for an expected US Federal Reserve interest rate hike later in the week, dealers said.... European shares higher LONDON, June 27: European stocks advanced on Tuesday, with the energy sector benefiting from higher oil prices and after overnight gains on Wall Street, dealers said.But... Good demand for palm oil PARIS, June 27: Europe''s vegetable oil market saw good underlying demand for palm oil on Tuesday, while weaker oils prices attracted buyers for rapeoil, traders said....

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