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October 13, 2006 Friday Ramazan 19, 1427 1st quarter trade gap swells to $3.15bn KARAACHI, Oct 12: The first quarter external trade figures released here on Thursday showed that the trade deficit was wider than the corresponding period of previous year as exports grew at a much lower rate than imports.... Callmate Telips’ main issue resolved KARACHI, Oct 12: With the change of auditors by the shareholders on Thursday, the main issue that troubled Callmate Telips Telecom Limited (CTTL) -- the long distance and international (LDI) private operator in Pakistan -- seemed to have been resolved.... SECP submits draft report on emerging markets ISLAMABAD, Oct 12: The Securities and Exchange Commission of Pakistan (SECP) has presented a draft report to the International Organisation of Securities Commission (IOSCO) containing recommendations for the development of emerging capital markets including that of Pakistan.... Crippling tax system adding to export slump KARACHI, Oct 12: For a variety of reasons, but mainly taxation system, almost the entire structure of Pakistan’s export has come under severe strain and exporters report a virtually across-the-board slump... Short-covering in oil shares averts larger fall KARACHI, Oct 12: Stocks on Thursday turned in another sluggish performance as the weakness of the bank sector, notably MCB weighed heavily against the underlying sentiment, but larger fall was averted thanks to active short-covering in leading oil shares.Active... Brisk trading on cotton market KARACHI, Oct 12: Trading on the cotton market on Thursday resumed on a brisk note as there was no let-up in mill buying at the prevailing prices, although fine lots were sold at a premium.... Oil exploration licence granted ISLAMABAD, Oct 12: The government on Thursday granted an exploration licence to Government Holdings (Pvt) Limited (GHPL) and reached a petroleum production sharing agreement with GHPL and Pakistan Petroleum Limited (PPL) over Eastern Offshore Indus covering an area of 2,494 sq-km.... 43,292 vehicles imported in 05-06 ISLAMABAD, Oct 12: Overseas Pakistanis imported around 43,292 vehicles during the fiscal year 2005-06 under the transfer of residence, personal baggage and gift schemes as against 2,297 vehicles imported the previous year.... Oil prices rebound after drop in US inventory LONDON, Oct 12: World crude prices rebounded on Thursday but held close to a 10-month low amid uncertainty over the precise nature and timing of an Opec output cut.... Banks asked to stop deceiving customers KARACHI, Oct 12: The State Bank on Thursday asked the banks to immediately stop the practice of passing on the penalties imposed on them to their customers.... Pakistan for boosting trade ties with Mexico ISLAMABAD, Oct 12: Minister of State for Economic Affairs Ms Hina Rabbani Khar on Thursday asked for deepening trade, investment and commercial ties between Pakistan and Mexico.... Canola output ISLAMABAD, Oct 12: The government has planned to increase production of oil seeds particularly Canola to meet domestic needs and save precious foreign exchange being incurred on its import.... US trade gap widens to $70 billion WASHINGTON, Oct 12: The US trade deficit hit a record $69.9 billion in August owing to a surge in imports of cheap Chinese goods and expensive oil, the government said on Thursday.... MoUs with Vietnam in November KARACHI, Oct 12: The Karachi Chamber of Commerce and Industry (KCCI) will sign two memorandums of understanding with Vietnam in November during the first-ever trade delegation visit, commercial counsellor and head... US housing market softens WASHINGTON, Oct 12: The US economy is being dented by “widespread cooling” in the real estate market but other sectors are holding generally firm, the Federal Reserve said in its Beige Book report on Thursday.... Asia ripe for property market boom SINGAPORE, Oct 12: Asia is ripe for an "explosion" in real estate investment trusts (REIT) as China, Pakistan, Dubai and Saudi Arabia consider legislative reforms to boost the market, Standard and Poor''s said on Thursday.... Asian stocks close mixed HONG KONG, Oct 12: Asian stocks closed mixed on Thursday as hopes of an interest rate cut in the United States faded and offset positive sentiment stemming from falling oil prices.... Gold higher LONDON, Oct 12: Gold advanced on Thursday in a relatively quiet market, aided by bargain hunting and a weaker dollar, but was expected to struggle to make further gains, dealers said.... Palm oil up KUALA LUMPUR, Oct 12: Malaysian crude palm oil futures closed higher on Thursday, lifted by a strong export performance announced by cargo surveyors.... European shares extend gains LONDON, Oct 12: European stock markets rose on Thursday, shrugging off losses in Tokyo and on Wall Street overnight, as the Paris CAC 40 hit the highest point for more than five years.... Port Qasim KARACHI, Oct 12: Shipping activity remained active at the port where two ships carrying containers and chemicals were allotted berths during the last 24 hours, said a PQA press release here on Thursday.... Karachi Port operations KARACHI, Oct 12: Five ships carrying soyabean oil and containers are due to arrive at the outer anchorage on Friday, according to KPT sources....

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