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September 15, 2006 Friday Sha'aban 21, 1427 Textile export earnings shrink KARACHI, Sept 14: While the local textile market is flooded with cheap products from China and Thailand, export prospects of Pakistan’s textile industry in coming months remain pretty uncertain, causing sleepless nights to the textile barons.... Barclays may acquire bank in Pakistan KARACHI, Sept 14: The UK-based European giant Barclays Bank is interested to make investment in Pakistan and a team of its experts is coming early next week to explore the potential, highly placed banking sources told Dawn on Thursday.... Global economy facing uncertainty: IMF SINGAPORE, Sept 14: The IMF has urged the world leaders to refocus from spending the dividend of high growth to reinvesting for the future. This piece of advice came at the launch of an annual report by the fund.... MTU gears up to collect tax returns KARACHI, Sept 14: The Medium Taxpayer Unit has geared up to collect tax returns from 277,000 registered taxpayers belonging to salaried class and small businesses to meet a revenue target of Rs27.90... Economy to grow close to 7pc: SBP SINGAPORE, Sept 14: Pakistan''s central bank governor said on Thursday the economy would expand by close to seven per cent this fiscal year and that tight monetary policy was helping control demand without stifling growth.... Pakistan Telecom declares 20pc payout KARACHI, Sept 14: Pakistan Telecommunication Company Limited (PTCL) announced a final cash dividend at Rs2 (20 per cent) per share for the year ended June 30, 2006.... Stocks stage modest recovery amid dull trading KARACHI, Sept 14: Share market on Thursday passed through a relatively dull trading session as leading investors were not inclined to make larger commitments awaiting positive corporate announcements by some of the leading companies.... Oil prices drop to record lows LONDON, Sept 14: World oil prices dropped to their lowest levels for almost six months on Thursday on easing supply concerns and news that Nigeria''s two oil unions had suspended a strike a day after it was launched.... Dollar weaker against euro LONDON, Sept 14: The dollar was slightly weaker against the euro on Thursday following retail sales data in the US, traders said. The euro rose to $1.2737... Foreign listings of 4 firms on cards KARACHI, Sept 14: Pakistan is considering four more firms, including three banks, for foreign listings through the issuance of global depository receipts (GDRs) in the current fiscal year ending June 30 2007, a senior government official said on Thursday.The... Cotton prices fall on hasty selling KARACHI, Sept 14: Cotton prices on Thursday further eased by Rs25 per maund in physical trading as ginners appeared to be in a bit hurry to clear their backlog of unsold stocks.... Ufone to spend $550m on network expansion ISLAMABAD, Sept 14: Ufone, one of the leading telecom operators in the country, on Tuesday announced $550 million largest-ever expansion of its network. The plan envisages network growth in terms of... US retail sales up WASHINGTON, Sept 14: US retail sales climbed 0.2 per cent in August, the Commerce Department said on Thursday in a report defying predictions of a consumer spending slowdown.... Restructuring CHICAGO, Sept 14: Struggling Ford Motor Co. will announce details of its updated restructuring plan on Friday, the automaker said on Thursday. Ford lost $1.4 billion in the first half of... Britons largest cash machine users LONDON, Sept 14: Britons make the largest number of cash machine withdrawals throughout Europe, a report showed on Thursday, almost all of them from free-to-use ATMs.... Taka moves up against dollar DHAKA, Sept 14: The US dollar has continued to lose ground to the local currency, taka, shedding about two per cent of its value in past two weeks.... Port Qasim KARACHI, Sept 14: Four ships carrying containers, edible oil and furnace oil were allotted berths at QICT, MPT and Fotco Terminal during the last 24 hours, said a PQA press release on Thursday.... EU-Ukraine pact on oil, gas meters BRUSSELS, Sept 14: The European Union and Ukraine signed a deal on Thursday paving the way for European financing of oil and gas meters on pipelines across Ukraine''s borders, the EU''s external relations commissioner said.... Privatisation MOSCOW, Sept 14: The vice president of state-controlled Russian oil group Rosneft said on Thursday that he did not expect any further privatisation of the company.... Thai firm to explore oil in Bay of Bengal DHAKA, Sept 14: State-owned Petrobangla signed an agreement with Thailand''s PTTEP to look for oil and gas in the energy-rich Bay of Bengal, the Thai energy minister said in Bangladesh''s capital on Thursday.... Asian stocks higher HONG KONG, Sept 14: Asian stocks closed mostly higher on Thursday after further gains on Wall Street as investors welcomed easier commodity prices as a lead indicator for lower inflation and interest rates, dealers said.... Gold rises LONDON, Sept 14: Gold bounced on Thursday, aided by firmer oil prices that triggered buying across the commodities sector, but traders retained a cautious outlook after this week''s heavy losses.... European shares advance LONDON, Sept 14: European stock markets climbed on Thursday, lifted by takeover speculation surrounding the utilities and transport sectors, and following solid gains in Tokyo and by Wall Street overnight, dealer said.... Palm oil up BANGKOK, Sept 14: Malaysian crude palm oil futures ended higher on Thursday a day ahead of the release of export estimate data, dealers said. Bursa Malaysia Derivatives exchange in Kuala Lumpur...

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