DAWN - Business; September 20, 2006

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September 20, 2006	Wednesday	Sha'aban 26, 1427

Pakistan backs IMF’s reform proposals: G-24, India, Brazil oppose SINGAPORE, Sept 19: Leading members of G-24, India, Argentina and Brazil voted against the proposals for reforms that were adopted by the development committee of the IMF to increase the voice of developing countries in the fund....		London exchange keen on listing local firms KARACHI, Sept 19: The London Stock Exchange (LSE) is interested in listing some of the promising Pakistani companies on its bourse, Mr Hugh Sandeman, the visiting senior manager Business Development of Europe’s biggest equity market told Dawn on Tuesday....
3.3m tons sugar output likely this season KARACHI, Sept 19: The country expects to produce around 3.3 million tons white refined sugar this season starting from October 1, 2006. However, this is going to create a glut in the market because already around 1.6...		Exports of seven major items to Kabul decline ISLAMABAD, Sept 19: Pakistan''s export of seven major commodities-- construction materials, paints and varnishes, mild steel products, electronic goods, wheat flour, sugar, vegetable and fruits--to Afghanistan declined during the fiscal year 2006 over the previous year.Official...

Stocks resist fresh decline, recover 32.45 points KARACHI, Sept 19: Stocks on Tuesday resisted fresh decline on active short-covering on selected counters, notably leading base shares but the underlying sentiment remained mixed....		IMF/WB for broad-based global growth SINGAPORE, Sept 19: The IMF/World Bank governors on Tuesday renewed their commitment to multilateralism: to find shared solutions to shared problems. They reiterated to give continued attention to millennium development goals....

FTA talks with Thailand ISLAMABAD, Sept 19: Pakistan and Thailand will hold the third round of joint study group (JSG) meeting this week on the feasibility of the FTA between the two countries....		CIRC helped in revival of 100 sick units ISLAMABAD, Sept 19: Prime Minister Shaukat Aziz said on Tuesday the Corporate and Industrial Restructuring Corporation (CIRC) would wind up its operation on September 22, 2006....

NBP gets licence for Islamic banking KARACHI, Sept 19: The National Bank of Pakistan (NBP) has got a licence to open its first Islamic banking branch in Karachi. The State Bank on Tuesday issued a licence to...		India eyeing tea exports to Pakistan, Egypt, Iran BANGALORE, Sept 19: India, the world''s biggest producer and consumer of tea, hopes to boost tea exports by targeting newer markets like Pakistan, Egypt and Iran, a top industry official said on Tuesday....

Cotton business remains active KARACHI, Sept 19: Physical business on the cotton market on Tuesday was maintained on the higher side, as spinners were not inclined to take even a technical breather....		Ufone to follow PTA guidelines KARACHI, Sept 19: Ufone is cooperating with local authorities in recovering the snatched or stolen mobile phone sets as per guidelines given by the Pakistan Telecom Authority (PTA)....

Karachi Port operations KARACHI, Sept 19: Eight ships carrying containers, chemicals and general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity at the wharves was...		Port Qasim KARACHI, Sept 19: Brisk shipping activity was observed at the port where four ships carrying containers, edible oil and diesel oil took berths during the last 24 hours, said a PQA press release on Tuesday....

Programme on farm credit KARACHI, Sept 19: The State Bank of Pakistan in collaboration with the United Bank Limited is organising a 2-day special outreach and training programme on agricultural credit on September 20-21 at Nausheroferoze....		Abad chief KARACHI, Sept 19: Hafeez-ur-Rahman Butt and Nusrat Mirza Chugtai have been elected unopposed as chairman and vice-chairman, respectively, of Association of Builders and Developers (Abad) for 2006-07....

Asian stocks mixed HONG KONG, Sept 19: Asian stocks closed narrowly mixed on Tuesday with investors adopting a cautious stance ahead of Wednesday''s all important meeting of the US Federal Reserve....		European shares drop LONDON, Sept 19: European stock markets fell on Tuesday as investors looked to bank profits on the eve of a rate decision by the US Federal Reserve, dealers said....

Palm oil up KUALA LUMPUR, Sept 19: Malaysian crude palm oil futures closed higher on Tuesday, boosted by market talk that cargo surveyors are likely to announce improved export performance, dealers said....		Karachi market rates KARACHI, Sept 19: The following were Tuesday’s commodity market rates in rupees....