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August 31, 2006 Thursday Sha'aban 6, 1427 Saarc states to form flour mills association KARACHI, Aug 30: Flour millers of South Asian countries are forming a South Asian Association for Regional Cooperation (Saarc) flour mills body with Lahore as its headquarters to exchange knowledge, information... SECP suspends bank’s board of directors: Administrator appointed LAHORE, Aug 30: In an unprecedented move, the Securities and Exchange Commission of Pakistan on Wednesday appointed administrator for Crescent Standard Investment Bank Limited (CSIBL), suspending its board of directors and restraining Anjum Saleem from officiating as its chief executive officer.... New berths to be built for import of liquefied gas ISLAMABAD, Aug 30: A high-level meeting under President Gen Pervez Musharraf on Wednesday decided to facilitate increased liquefied natural gas (LNG) and liquefied petroleum gas (LPG) imports by the private sector.... Bumper rice crop to raise export earnings KARACHI, Aug 30: The country is expected to harvest a bumper paddy crop of around 5.6 million tons this season (2006-07). Similarly, record export earnings of over $1.3... Stocks manage to sustain gains above 10,000-level KARACHI, Aug 30: The KSE 100-share index on Wednesday again crossed the psychological barrier of 10,000-point on strong institutional and retailers’ support triggered by reports that the prime minister had survived the no-trust motion.... BP to invest $50m in exploration ISLAMABAD, Aug 30: British Petroleum Company will explore oil and gas offshore blocks covering an area of 21,000 sq-km in ultra deep water and will initially invest $50 million.... Dow Jones-JS Pakistan Islamic Index launched KARACHI, Aug 30: Dow Jones-JS Pakistan Islamic Index was launched on Wednesday. At a press conference A. Rushdi Siddiqui, Global Director, Dow Jones Islamic Market Index Group stated that the index... Pakistan’s oil demand to double in 10 years SINGAPORE, Aug 30: Pakistan''s diesel demand is forecast to jump 70 per cent in a decade to 15.07 million tons, as the overall fuel consumption almost doubles, forcing the country to boost imports, an oil official said on Wednesday.... Listed banks profit growth rate dips to 68 per cent KARACHI, Aug 30: The profitability growth rate of listed banks has declined in the first half year ended June 30, 2006 compared to the same period last year, said a research report.... KSE top-30 share index launching tomorrow KARACHI, Aug 30: Pakistan''s main stock exchange said it planned a new top-30 index reflecting the size of the constituents'' free-floating share capital, rather than just total stock market value, in a bid to boost investor appeal.... Bullish trend continues on cotton market KARACHI, Aug 30: Cotton prices on Wednesday rose further higher on near-panic buying by both the spinners and the mills followed by speculative reports about damage to standing crop.... Trade with China to hit $5 billion this year ISLAMABAD, Aug 30: Prime Minister Shaukat Aziz said on Wednesday that bilateral trade between Pakistan and China would cross $5 billion mark during the current fiscal year.... Pakistan seeks rinderpest-free status ISLAMABAD, Aug 30: The government has submitted a dossier to the World Animal Health Organisation (OIE) seeking the status of rinderpest-free country. Rinderpest is a highly fatal viral disease of domestic cattle and buffaloes etc.... Exploration deal signed TASHKENT, Aug 30: Uzbekistan and an international consortium of investors from Russia, South Korea, China and Malaysia on Wednesday signed a production-sharing agreement to explore and develop energy resources under the Uzbek part of the Aral Sea.... US economy grows at 2.9 per cent in second quarter WASHINGTON, Aug 30: The US economy performed a little better than first thought in the second quarter, but growth is still flagging while inflation rises, a government report showed on Wednesday.... Help sought to mitigate problems: LBOD project KARACHI, Aug 30: The recent rains aggravated the ecological and social problems caused by the construction of Left Bank Outfall Drain (LBOD) project and added to the miseries of the people living in Badin and other parts of the province.... Karachi Port operations KARACHI, Aug 30: Six ships carrying containers, palm oil and yellow peas are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Aug 30: Two ships carrying containers and edible oil were berthed at QICT and MPT during the last 24 hours, said a PQA press release on Wednesday.... Deutsche Bank KARACHI, Aug 30: Deutsche Bank’s global transaction banking has been appointed the sole clearing bank for Intentional Air Transport Association (IATA) pioneer Building and Settlement Plan (BSP) in Pakistan.... Poultry rates KARACHI, Aug 30: Following are Thursday’s poultry rates.... Asian stocks close mixed HONG KONG, Aug 30: Asian stocks closed mixed on Wednesday with underlying sentiment remaining strong after another positive finish on Wall Street and another easing in oil prices in regional trade.... Palm oil futures KUALA LUMPUR, Aug 30: Malaysian crude palm oil futures rose marginally on Wednesday, lifted by fresh buying interest after four straight days of decline. The market is likely to go for...

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