DAWN - Business; July 28, 2006

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July 28, 2006	Friday	Rajab 1, 1427

Exchange firms annual turnover hits $3.5bn KARACHI, July 27: How many of us know about ‘chamak’ (light)? It is a business jargon used for the telegraphic transfer (TT) of dollars that an exchange company in Pakistan gets from an exchange company in Dubai or elsewhere....		Linkages between trade, poverty reduction urged ISLAMABAD, July 27: Speakers at a seminar called for enhancing linkages between trade, development and poverty reduction as well as equitable distribution of income....
Cutlery industry on verge of closure ISLAMABAD, July 27: Pakistan''s cutlery industry is on the verge of closure due to the lack of technological development in the sector and tough competition from China....		EU states given a week to decide on dumping duties: Shoe imports BRUSSELS, July 27: The European Commission has given EU countries a week to respond to its latest plan for anti-dumping duties on shoes from China and Vietnam, prompting complaints from some governments that they are being rushed....

KSE index gains 87 points on active short-covering KARACHI, July 27: Stocks on Thursday were back on the rails aided by active short-covering on selected counters under the lead of oil and bank shares amid reports of higher corporate earnings....		Trading activity remains slow KARACHI, July 27: Trading activity on the cotton market on Thursday remained at low ebb, as spinners and mills awaited the opening of their bids against the TCP tender and did not participate in the dealings in the ready section....

WTO states endorse Doha Round freeze GENEVA, July 27: World Trade Organisation chief Pascal Lamy on Thursday urged governments to do all they can to overcome their differences and end a freeze in free-trade negotiations....		Pakistan Cement starts production KARACHI, July 27: Pakistan Cement Company Limited (formerly Chakwal Cement Company) — a stock market listed company - has started production of cement and clinker, stated Orascom Construction Industries, the holding...

Oil prices gain on supply disruptions LONDON, July 27: World oil prices rose above $74 per barrel on Thursday, supported by strong demand for motor fuel in the United States and supply disruptions in Nigeria, analysts said....		Asean energy talks VIENTIANE, July 27: Asean energy ministers gathered here on Thursday to address energy concerns as oil prices continued to rise on the back of escalating tensions in the Middle East and soaring global demand....

PIIF makes investment in three foreign funds KARACHI, July 27: Pakistan International Element Islamic Fund (PIIF) — an open-end fund managed by Arif Habib Investments made foreign portfolio investment, which it claimed to be the first such investment....		GST waiver ISLAMABAD, July 27: The Central Board of Revenue has exempted the levy of general sales tax (GST) on import and supply of commercial catalogues....

Unilever profit up KARACHI, July 27: Unilever Pakistan Limited posted 2pc growth in after tax profit amounting to Rs888m for the Jan-June six months of 2006, compared to Rs871m in the corresponding period of the previous year....		US unsold homes WASHINGTON, July 27: The glut of brand new unsold homes for sale across the US hit a record high in June, a government report showed on Thursday, as some economists warned of a worsening market in coming months....

US blamed for WTO impasse PARIS, July 27: French Agriculture Minister Dominique Bussereau said on Thursday that the United States was “largely to blame” for the suspension of WTO trade talks, in an interview with French newspaper Le Figaro....		$10bn profit NEW YORK, July 27: Surging oil prices helped drive quarterly profits for US energy giant ExxonMobil to $10.36bn, the latest in a string of mammoth profit reports that have drawn fire for the industry....

European stocks climb LONDON, July 27: European stock markets rose strongly on Thursday, with dealers taking their lead from a batch of positive earnings releases after overnight falls on Wall Street....		Palm oil prices up KUALALUM PUR, July 27: Palm oil stocks in Malaysia, the world''s largest producer of the commodity, are expected to fall 4 per cent in July as higher exports and lower output eat into the reserves, a Reuters poll showed on Thursday....

Port Qasim KARACHI, July 27: Shipping activity remained active at the port where three ships carrying containers and chemicals took berths at QICT and EVT during the last 24 hours, a PQA press release said here on Thursday....		Karachi Port operations KARACHI, July 27: Nine ships carrying containers, palm oil and to load ethanol are due to arrive at the outer anchorage on Friday, according to KPT sources....