DAWN - Business; August 12, 2006

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August 12, 2006	Saturday	Rajab 16, 1427

Pakistan heading towards debt trap KARACHI, Aug 11: The rising balance of payment problem forced the government to make massive borrowings from the external sources during the last fiscal year, which was the highest in last six years....		Karachi’s business map taking new shape KARACHI, Aug 11: Slowly but steadily Karachi’s business geography is changing as new chains of warehouses and small commercial and industrial establishments are developing in the dense residential areas of the...
Scanning machines at PQ to start functioning soon KARACHI, Aug 11: Revenue division secretary-general and CBR chief M. Abdullah Yousuf has said that scanning machines installed at Port Qasim will soon start functioning, which will bring an end to...		US retail figures boost dollar LONDON, Aug 11: The dollar got a lift on Friday from a sharp rebound in US retail sales which raised the possibility of US interest rates moving slightly higher....

World oil prices recover LONDON, Aug 11: Oil prices rebounded on Friday as markets shrugged off concerns raised by a thwarted plot to destroy planes flying to the United States, analysts said....		India’s industrial production up by 9.6pc NEW DELHI, Aug 11: India''s industrial production grew by a robust 9.6 per cent in June, according to official data released on Friday, but analysts said massive flooding could affect output in coming months....

Stock market remains depressed on multiple factors KARACHI, Aug 11: Stocks finished the weekend session on an easy note as oil and bank shares came in for fresh pruning at the inflated levels and ended sharply lower in the absence of buying at the dips.Apart...		Cotton prices resist fresh fall KARACHI, Aug 11: Trading on the cotton market on Friday remained slow as leading spinners and mills again held to the sidelines apparently anticipating further fall in prices....

BD tea exports fall on rising local demand DHAKA, Aug 11: Tea exports from Bangladesh are likely to fall in coming years as fast growing domestic consumption will more than offset rising production, traders and officials of the country''s Tea Board said on Friday....		Banks go for discounting KARACHI, Aug 11: the short-term money rates remained firm on Friday, and banks borrowed heavily from the central bank''s discount window to meet their weekly cash reserve requirements....

German steel giant to sell US auto business DUESSELDORF, Aug 11: ThyssenKrupp, the German heavy industry and steel giant, said on Friday it would continue to negotiate to take over Canadian steel maker Dofasco, which was snapped from under its nose earlier this year by rival Arcelor....		US economy on more sustainable path NEW YORK, Aug 11: The US economy is in good shape, with growth moderating to a more sustainable pace from the rapid expansion in the early part of the year, US Treasury Secretary Henry Paulson said on Friday....

Australian deficit narrows SYDNEY, Aug 11: Australia''s trade deficit narrowed to 722 million Australian dollars (US$542 million) in June after exports jumped to record levels on strong Asian demand for resources, official data showed on Friday....		Investment prospects in telecom discussed ISLAMABAD, Aug 11: Pakistan is being quoted as a model in telecommunications owing to its high-speed growth and...

US business inventories rise 0.8pc WASHINGTON, Aug 11: U.S. business inventories rose a greater-than-expected 0.8 per cent in June on the back of ample supplies of motor vehicles and parts, a government report showed on Friday....		Traders invited to invest in Libya KARACHI, Aug 11: Libya has invited Pakistani businessmen to benefit from opening up of its economy after 30 years of government control....

WTO entry SIMFEROPOL (Ukraine), Aug 11: Ukraine''s government is committed to joining the World Trade Organisation but may delay talks to ensure membership conditions meet producers’ needs, Prime Minister Viktor Yanukovich said on Friday....		Gold recovers LONDON, Aug 11: Gold bounced back on Friday as buying interest resurfaced on price dips and as traders saw a limited impact on air travel and oil demand from an aircraft bomb plot....

European shares mixed LONDON, Aug 11: European stocks ended mixed on Friday, a day after markets fell sharply after the UK authorities said they had uncovered a plot to bomb transatlantic airliners....		Palm oil up KUALA LUMPUR, Aug 11: Malaysian crude palm oil futures closed higher on Friday, helped by fresh buying on the back of strong exports, traders said....

Asian stocks mixed HONG KONG, Aug 11: Asian stocks closed mixed on Friday in cautious trade with investors unsettled by an alleged terrorist attempt to blow up airliners flying between Britain and the United States....		HK gold HONG KONG, Aug 11: Hong Kong gold prices closed lower Friday at US$641.30-641.80 an ounce, down from Thursday''s close of US$649.90-650.40 an ounce....

Port Qasim KARACHI, Aug 11: Two ships carrying containers and chemicals were berthed at QICT and EVT during the last 24 hours, according to a PQA press release on Friday....		Karachi Port operations KARACHI, Aug 11: Five ships carrying coal and containers are due to arrive at the outer anchorage on Saturday, according to KPT sources....