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July 06, 2006 Thursday Jumadi-ul-Sani 9, 1427 10pc excise duty raises lubricant prices KARACHI, July 5: Industrial and automobile lubricants have become costlier following levy of 10 per cent excise duty on ad valorem basis on the retail price of lubricants in 2006-07 budget.... Exports to US rise by 25 per cent KARACHI, July 5: Pakistan’s exports to Europe, including 15 EU countries, have shown a small and insignificant growth of five per cent in the year 2005-06 but it has maintained an impressive growth of 25 per cent to USA.... Karachi Customs collects Rs144.7bn in 2005-06 KARACHI, July 5: The Karachi Customs collected Rs144.700 billion revenues during the outgoing fiscal year 2005-06 as against Rs124.125 billion last year, showing an increase of 16.5... Fake invoicing, tax frauds cause Rs25bn losses ISLAMABAD, July 5: Pakistan''s customs has yet to develop an effective deterrence for checking rampant fake invoicing and tax frauds, causing a revenue loss to the tune of Rs20-25 billion annually... Recovery drive continues on stock market KARACHI, July 5: Share values on the stock market maintained their recovery drive on active follow-up support aided by analysts’ prediction of a higher dividend by the National Investment Trust (NIT) for the year ended June 30, 2006.... Cotton market lacks trading interest KARACHI, July 5: Trading on the cotton market on Wednesday failed to pick up as price ideas of buyers and sellers failed to find a meeting ground for the second session in a row.... State Bank auctions Rs79.6bn T-bills: Yields remain flat KARACHI, July 5: The first auction of treasury bills of the current fiscal on Wednesday attracted huge response from the banks, but the rates of return remained flat reflecting that the SBP would continue tight monetary stance.... Rs30/unit bonus for equity fund announced KARACHI, July 5: Arif Habib Investments (AHIL) declared on Wednesday a bonus distribution of Rs30 per unit for its equity fund, Pakistan Stock Market Fund (PSM), a press release issued by the company stated.... Pakistan ideal place for foreign investors: Shaukat GENEVA, July 5: Prime Minister Shaukat Aziz said on Wednesday that political stability, consistency and continuity of economic polices and high corporate profitability are turning Pakistan into a destination of choice... Private sector needs govt support KARACHI, July 5: Sindh Chief Minister Dr Arbab Ghulam Rahim has said that private sector needs to be encouraged for further boosting the exports so that the country could march on the path of development.... Wind farm ISTANBUL, July 5: Turkish energy firm Zorlu Enerji Grubu plans to build a 50mw wind farm in Pakistan and increase capacity there by up to 2,700mw by 2015, it said on Wednesday.... Dumping probe MOSCOW, July 5: Russia has begun an anti-dumping investigation into imports of Ukrainian steel, the Russian ministry of economic development said on Wednesday.... PIDE wants govt to abolish export financing ISLAMABAD, July 5: The Pakistan Institute of Development Economics (PIDE) -- a think tank of the government on economic issues -- has advised the government to abolish export financing and instead utilise the money in productive manner for increasing country exports.... Jetro team visits Port Qasim KARACHI, July 5: A four-member Japanese delegation from Jetro and Jica visited Port Qasim on Wednesday.... BD tea prices CHITTAGONG, July 5: The average price of Bangladesh teas fell nearly one per cent to 99.48 taka ($1.43) per kg on lower overseas demand at a weekly auction on Wednesday, brokers said.... European shares slip LONDON, July 5: European stocks weakened on Wednesday as investors fretted over North Korea''s reported missile tests, ahead of Wall Street''s return from the Fourth of July holiday break, dealers said.... Palm oil prices down KUALA LUMPUR, July 5: Malaysian crude palm oil futures ended marginally lower on Wednesday, with the market lacking direction due to the holiday closure of Chicago Board of Trade''s soyaoil futures market.... Asian stocks mostly lower HONG KONG, July 5: Asian stocks were mostly lower in subdued trade on Wednesday, with sentiment unsettled after North Korea test-fired seven missiles, including a failed launch of the long-range Taepodong-2.... Port Qasim KARACHI, July 5: Four vessels to offload containers, edible oil, sugar and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Karachi Port operations KARACHI, July 5: Six ships carrying coal, general cargo and crude oil are expected to arrive at the outer anchorage on Thursday, according to the KPT sources....

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