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July 05, 2006 Wednesday Jumadi-ul-Sani 8, 1427 Higher monetary targets set for FY07: NCCC gets new name, status The NCCC in its annual meeting held here on Tuesday, with SBP Governor Dr Shamshad Akhtar in the chair, expressed concerns over the government’s fiscal expansion in 2006-07 and observed that... Saudi Arabia likely to invest $8-10bn ISLAMABAD, July 4: Saudi Arabia has indicated to make long-term $8-10 billion investment in Pakistan in four major sectors of the economy with a view to greatly enhancing bilateral cooperation between the two countries.... WTO states to make a final bid for accord ISLAMABAD, July 4: Commerce Minister Humayun Akhtar Khan said on Tuesday the WTO member countries were likely to meet again by the end of the current month in a bid to... USC offers sugar at Rs34 per kg to retailers KARACHI, July 4: The Utility Stores Corporation (USC) has allowed shopkeepers to purchase 10 bags of 50 kg each of sugar at wholesale price of Rs34 per kg in Sindh and Balochistan zone for onward sale of sweetener at retail.... Pakistan unlikely to achieve $17bn export target ISLAMABAD, July 4: Pakistan is unlikely to achieve the export target of $17 billion set for the fiscal year 2005-06 owing to low growth in industrial and farm production, officials and analysts told Dawn.... MCB Bank plans London Listing KARACHI, July 4: MCB Bank Ltd has said it is planning to issue global depository receipts to be listed on the London Stock Exchange. “A consortium of Merrill Lynch and KASB... NBP gains on Aljazira stock price hike KARACHI, July 4: The price of share in Bank Aljazira (BAJ) -– a Saudi bank in which National Bank of Pakistan (NBP) holds 5.8 per cent stake -— has increased sharply in the last eight trading sessions on the Saudi bourse.... Saarc chamber’s transport council proposed ISLAMABAD, July 4: The 36th executive committee meeting of the Saarc Chamber of Commerce and Industry (SCCI) begins in Kathmandu on Wednesday with the commitment to promote intra-regional trade and business relations to the maximum level.... Dollar steady LONDON, July 4: The dollar was little changed on Tuesday close to one-month lows against the euro amid thin trading owing to the Independence Day public holiday in the United States, dealers said.... KSE-100 share index recovers 226 points KARACHI, July 4: Stocks on Tuesday were back on the rails aided by strong buying in the oil and bank shares but finished well below the session’s highs on late-selling in some of the pivotals.... Russia will ditch rules if not admitted to WTO: Putin MOSCOW, July 4: Russia will stop adhering to rules set by the World Trade Organisation (WTO) if it is not formally admitted to the group, President Vladimir Putin said here on Tuesday.... Karachi Port Operations KARACHI, July 4: Ten ships carrying steel coils, general cargo and crude oil are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, July 4: Four ships carrying containers, diesel oil and iron ore were allotted berths at during the last 24 hours, said a PQA press release on Tuesday.... Insipid conditions on cotton market KARACHI, July 4: Cotton market on Tuesday lacked normal trading interest as buyers and sellers kept to the sidelines apparently awaiting the arrival of new crop from the lower Sindh cotton belt.... Airline gets 4th aircraft KARACHI, July 4: Shaheen Air International (SAI), the second national carrier of Pakistan, has purchased the fourth Boeing 737 aircraft. The airline’s spokesman Farooq Nasir Khan said the aircraft, which arrived... Rating KARACHI, July 4: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Bank AL Habib Limited (BAHL) at “AA” (double A) and “A1+” (A one plus), respectively.... KWPA chief KARACHI, July 4: Chaudhry Mohammad Yasin has been elected president of the Karachi Wholesalers Poultry Association (KWPA) for the year 2006-2008. Mohammad Raees Qureishi and Malik Mohammad Shafiq have been elected senior vice-president and vice-president, respectively, says a press release.... Economy BUDAPEST, July 4: The Hungarian economy is set to grow by 2 per cent next year, Prime Minister Ferenc Gyurcsany said on Tuesday revising down a government estimate of 2.5-per... Asian stocks close higher HONG KONG, July 4: Asian stocks were mostly higher, posting modest gains on Tuesday as investors waited on the sidelines for a fresh lead from the United States, dealers said.... European stock markets down LONDON, July 4: European stock markets fell on Tuesday, driven down by the auto sector in muted trading amid a shut-down on Wall Street owing to the Fourth of July holiday in the United States, dealers said....

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