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August 17, 2006 Thursday Rajab 21, 1427 Ambitious privatisation plan to lessen govt control KARACHI, Aug 16: The Privatisation Commission looks all set to complete the deals of more than two dozen public sector entities by the middle of 2007 before next elections and also... Pakistan may lose $1-2m per day in fish export KARACHI, Aug 16: Pakistan may face one to two million dollars loss per day from Thursday in case the Marine Fisheries Department (MFD) does not resume the issuance of certificate of health to fish exporters.... PM okays plan to procure 0.1m bales of clean cotton ISLAMABAD, Aug 16: Prime Minister Shaukat Aziz has approved the “clean cotton programme 2006-07”, envisaging the procurement of 100,000 bales of cotton at a premium of Rs84 million to encourage the production of clean cotton.... D.G. Cement acquiring largest grinding mill KARACHI, Aug 16: D.G. Khan Cement Company is in the process of acquiring cement grinding mill with a capacity of 230 tons per hour or 5,000 tons per day, a senior... Opec cuts forecast for world oil demand in 2006 VIENNA, Aug 16: Opec has lowered its estimate for world oil demand in 2006 due to slowing economic growth, the cartel said in a report Wednesday.... Engg industry urged to boost export ISLAMABAD, Aug 16: The Engineering Development Board (EDB) has called upon the industry to improve its competitiveness in order to boost its exports. EDB Chief Executive Officer Imtiaz Rastgar presiding over... Stocks resume upward journey KARACHI, Aug 16: Stocks on Wednesday were back on the rails on strong short-covering in the leading oil and bank base shares at the lower levels, breaking the last five sessions’ bearish spell.... Cotton prices move up on tight supplies KARACHI, Aug 16: Cotton market on Wednesday showed firm trend as ginners raised their asking prices owing to pressure on ready supplies in the backdrop of fresh rain in the central Sindh cotton belt.... $377.01m remitted in July KARACHI, Aug 16: Remittances from the overseas Pakistanis showed a 20 per cent growth during first month of the current fiscal compared to the same month last year.... Oil prices fall despite US energy stocks dip LONDON, Aug 16: Crude prices fell further on Wednesday after news that US energy inventories slid last week owing to strong American demand and a partial shutdown at a giant Alaskan oil field run by BP, dealers said.... Banks given August 31 deadline on utility bills KARACHI, Aug 16: The State Bank on Wednesday extended the deadline for banks required to make proper arrangements in their branches for deposition of utility bills.... Machine tools exhibition KARACHI, Aug 16: More than 70 national and international companies are expected to participate in the machine tools and automation exhibition being held from September 20 to 23 at the Karachi Expo Centre.... IP critical for economic development ISLAMABAD, Aug 16: Adviser to the prime minister on finance and economic affairs Dr Salman Shah on Wednesday said intellectual property was critical for a competitive economy, as it had a special significance for socio-economic development in the ongoing globalisation movement.... Global gold demand eases LONDON, Aug 16: Worldwide gold demand soared in dollar terms during the first half of 2006 as consumers paid higher prices, but sank in tonnage terms, the World Gold Council said on Wednesday.... Canada’s economic growth slows down OTTAWA, Aug 16: Canada’s economy has shifted into lower gear, likely forcing the central bank to cut interest rates later this year or in early 2007, depending on the severity of an expected slowdown in the US economy.... ABL earns pre-tax profit of Rs4bn KARACHI, Aug 16: Allied Bank Limited posted a pre-tax profit of Rs4.06 billion for the first half year ended June 30, 2006 registering a growth of 90 per cent over the corresponding period of last year.... Weak US data WASHINGTON, Aug 16: The Federal Reserve got fresh justification for keeping US interest rates steady with news on Wednesday that consumer inflation was contained and new housing projects slumped last month.... Bankruptcy trials TASHKENT, Aug 16: Authorities in Uzbekistan said on Wednesday they had launched bankruptcy proceedings against a joint venture of Newmont Mining, the latest step in a process that the US gold giant has described as an expropriation attempt.... Nickel prices LONDON, Aug 16: The price of nickel hit a new record high for the third day in succession here on Wednesday, heading for $30,000 per ton amid falling stock prices and strong demand from stainless steel makers.... European stocks lower LONDON, Aug 16: European stock markets mostly slid on Wednesday in cautious trade, as investors looked to the utilities sector and consolidated recent gains ahead of new US inflation data, dealers said.... Palm oil prices BANGKOK, Aug 16: Malaysian crude palm oil futures ended lower for the third straight day in a technical selloff on Wednesday, dealers said.... Karachi Port operations KARACHI, Aug 16: Six vessels carrying containers, chemicals and coal are due to arrive at the outer anchorage on Thursday, according to KPT sources....

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