DAWN - Business; August 09, 2006

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August 09, 2006	Wednesday	Rajab 13, 1427

EOBI seeks avenues to invest Rs116bn KARACHI, Aug 8: Carrying an investment fund of Rs116 billion, the Employees Old Age Benefit Institution (EOBI) operators are desperately exploring new avenues of investment to improve their income levels to...		Rs50 per maund premium on clean cotton HYDERABAD, Aug 8: The government will provide Rs50 per maund premium on cotton seed (phutti) to growers on production and supply of clean and standardised cotton to six selected ginning factories of Sindh....
Pakistan plans to lure 300 foreign investors ISLAMABAD, Aug 8: The government has decided to develop close contact with top 300 international investors with a view to luring them to make new investments in Pakistan....		Non-textile exports up 11pc in FY06 ISLAMABAD, Aug 8: Pakistan’s exports of non-textile products rose by 11pc to $6.601 billion during the fiscal year 2006 as against $5.946 billion the previous year....

Excise duty on travel tickets notified ISLAMABAD, Aug 8: The Central Board of Revenue has notified special procedures for the collection of federal excise duty (FED) on travel tickets by air of passengers embarking on international journey from Pakistan....		Site body disputes KESC claim KARACHI, Aug 8: The Site Association of Industry on Tuesday wrote a letter to the KESC chief executive officer, strongly protesting against assertions made by the company’s chief spokesman in an interview given to a private news channel....

Stocks limit losses on active buying at lower levels KARACHI, Aug 8: Stocks on Tuesday suffered mild pruning at the inflated levels, what the analysts called technical correction, but there were buyers at the dips which limited losses on the blue chip counters....		Sluggish trading on cotton market KARACHI, Aug 8: Cotton market on Tuesday passed through another dull trading session as spinners and mills remained conspicuous by their absence owing partly to higher asking prices by the ginners for the new crop....

EU mulls WTO action against India BRUSSELS, Aug 8: The European Commission is considering taking India to the World Trade Organisation for duties imposed on European wine and spirits that Brussels considers to be too high, a spokesman said on Tuesday....		Oil prices remain strong LONDON, Aug 8: World oil prices eased on Tuesday, but held close to a recent record in London as a pipeline leak forced British major BP to shut the biggest oil...

BD exports cross $10 billion DHAKA, Aug 8: Exports from Bangladesh rose above a record $10 billion in the past fiscal year led by the country''s booming textile industry, the government said on Tuesday....		NBP to sell Al Jazira holding KARACHI, Aug 8: National Bank of Pakistan hopes to divest its shares in Saudi-based Al Jazira Bank in three months, but expects the sale to be at a discounted price, a top official said on Tuesday....

Productivity slides in US WASHINGTON, Aug 8: US workers’ productivity slowed abruptly to grow by just 1.1 per cent in the second quarter, the Labour Department said on Tuesday....		India’s gas fields stop production NEW DELHI, Aug 8: State-run Oil and Natural Gas Corp. halted production at India''s two largest gas fields after monsoon rains flooded a processing plant in the western state of Gujarat, a report said on Tuesday....

Karachi Port operations KARACHI, Aug 8: Eight ships carrying yellow peas, containers and to load cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....		Port Qasim KARACHI, Aug 8: Two ships carrying oil and chemicals were accommodated berths at Fotco Terminal and EVT during the last 24 hours, said a PQA press release on Tuesday....

Plea to abolish GST rejected ISLAMABAD, Aug 8: The Central Board of Revenue has rejected a proposal of the Computers Association of Pakistan seeking abolishing of general sales tax on computer imports....		US sugar plan ASHEVILLE, Aug 8: The current US sugar programme may need to change when the next Farm Bill is debated by the US Congress, an industry official said on Tuesday....

BD tea prices CHITTAGONG, Aug 8: The average price of Bangladesh teas rose 3.87 per cent to 103.25 taka ($1.48) per kg on higher demand at a weekly auction on Tuesday, brokers said....		Poultry rates KARACHI, Aug 8: Following are the maximum retail rates for Wednesday....

Asian stocks higher HONG KONG, Aug 8: Asian stocks made solid gains on Tuesday with investors becoming increasingly convinced the US Federal Reserve will call a halt to its interest rate hike campaign when it meets later in the day....		Malaysian palm oil jumps KUALA LUMPUR, Aug 8: Malaysian crude palm oil futures closed 2.5 per cent higher on Tuesday, boosted by robust demand, firm crude oil prices and heavy fund buying....

Gold eases ahead of Fed decision LONDON, Aug 8: Gold was trapped in a $5 range on Tuesday ahead of the US Federal Open Market Committee meeting on interest rates, which may offer fresh leads for bullion traders....		European stocks recover LONDON, Aug 8: European stock markets rebounded on Tuesday from recent losses, with analysts increasingly certain the US Federal Reserve will stop its long run of interest rate rises....