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September 19, 2006 Tuesday Sha'aban 25, 1427 IFC extends $50 million in funding to HBL SINGAPORE, Sept 18: The International Finance Corporation and Habib Bank Limited on Monday announced the signing of a deal under which the IFC is extending a $50 million in long-term funding... Gas purchase, sales agreement signed ISLAMABAD, Sept 18: The government of Pakistan and Sui Northern Gas Pipeline Limited signed a gas sales and purchase agreement with a joint venture comprising Tullow Pakistan (Developments) Limited and Government... Gas market plan in jeopardy ISLAMABAD, Sept 18: Plans to set up a competitive gas market, similar to a stock market, are likely to fail due to a variety of reasons including distorted consumer tariffs, unrealistic gas production prices and proposed gas import mechanisms.... Bribery mars Rozgar scheme KARACHI, Sept 18: The demand for `speed money’ by the local traffic police and elected councilors for issuing driving licence and area residential certificate from the applicants who are seeking loans... LPG to become more costlier after OGDC hike KARACHI, Sept 18: Consumers may have to pay Rs5 to Rs10 per kg more for liquefied petroleum gas (LPG) in coming days following Rs3,720 per ton increase made by Oil and Gas Development Company (OGDC) on September 16.... Sindh fixes Oct 1 for sugarcane crushing unilaterally KARACHI, Sept 18: Every year the sugarcane crushing season is marked with brawls between the millers and the Sindh government over the date to start crushing in the province.... Stocks continue falling on depressed trading KARACHI, Sept 18: Stocks on Monday suffered fresh fall across-the-board on active selling but there was no matching buying on the blue chip counters even at the attractively lower levels.... Call for resuming stalled WTO talks SINGAPORE, Sept 18: Finance ministers on Monday called for resuming stalled trade talks and pledged to make effort for an ambitious successful outcome by end of this year.... Ban on poultry import goes ISLAMABAD, Sept 18: The government has withdrawn ban on the import of poultry from France, Germany, the UK and Iran in a bid to maintain stability in local poultry prices.... Rs4.3bn revolving fund planned ISLAMABAD, Sept 18: The government has decided to launch a countrywide Rs4.3 billion `revolving fund’ to finance the credit requirements of village organisations (VOs).... Raise in tariff wipes out gains of PTA with Iran ISLAMABAD, Sept 18: Iran''s substantial increase in customs duties on various products before ratification of the preferential trade agreement (PTA) has neutralised the benefits of the accord for Pakistani export- oriented products.... Buying spree continues on cotton market KARACHI, Sept 18: Trading on the cotton market on Monday resumed on a steady note as spinners and mills continued to cover their forward positions at the prevailing rates.... Aptma-govt meeting to discuss issues, proposals LAHORE, Sept 18: Textile spinners are waiting with their fingers crossed for a call from prime minister’s adviser on finance Dr Salman Shah on his return home from a World Bank-IMF... Slic secures Rs1.32bn business KARACHI, Sept 18: The State Life Insurance Corporation (Slic) has secured a business of Rs1.32 billion as first year premium during January-July 2006 by providing financial protection to 121,487 new policyholders and their families in individual life.... Karachi Port operations KARACHI, Sept 18: Seven ships carrying containers, high-speed diesel, coal and steel are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Sept 18: Three ships to load and offload containers and chemicals were allotted berths at QICT and EVT on Sunday, said a PQA press release on Monday.... Pakistan may sell 15-year bond SINGAPORE, Sept 18: Pakistan may issue a 15-year foreign currency bond when it taps the global bond market next to create better liquidity after the sale of 10- and 30-year bonds this year, an official said on Monday.... Inferior quality steel imports from Central Asia KARACHI, Sept 18: The newly-elected chairman of Pakistan Ship Breakers Association Azam Malik has said that in Central Asian states of old Soviet era oil and water pipelines are being replaced.... Special cell KARACHI, Sept 18: A specialised cell has been set up at the Karachi Stock Exchange (KSE) to look into the matters pertaining to demutualization and helping members achieve the objectives without going into unnecessary details and complications.... Asian stocks close higher HONG KONG, Sept 18: Asian stocks closed higher on Monday with markets supported by a growing belief that the United States Federal Reserve will leave interest rates unchanged when it meets later in the week.... European shares mostly rise LONDON, Sept 18: European stock markets mostly gained on Monday, with Scania trucks jumping more than five per cent after the Swedish group rejected a takeover bid by German industrial group MAN.... Palm oil up KUALA LUMPUR, Sept 18: Malaysian crude palm oil futures closed higher on Monday, due to a technical rebound and higher price of crude oil....

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