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October 14, 2006 Saturday Ramazan 20, 1427 Govt allows 100pc equity in insurance business ISLAMABAD, Oct 13: The government has enhanced the ownership rights to 100 per cent from 51 per cent for both domestic and foreign companies in life, non-life and general insurance business... LPG rates reduced KARACHI, Oct 13: LPG marketing companies have reduced the rates of 11.8kg LPG cylinder to Rs520-530 from Rs570-575 since many producers had decided to reverse the increase in rates ahead of Ramazan.... Latest techniques to be used for quality lint ISLAMABAD, Oct 13: The government has decided to introduce state-of-the-art instruments and procedures to improve the quality of Pakistan’s cotton to "survive in the quality based international cotton market".... Tractors’ CKDs being imported illegally LAHORE, Oct 13: In what is said to be open violation of the government policy, some companies are importing tax and duty free tractors through CKD (completely knocked down) kits instead of CBUs (completely built units), industry sources claim.... Plan to check ST evasion on bikes at making stage KARACHI, Oct 13: The Central Board of Revenue and the Sindh government have joined hands to check evasion of sales tax on locally-assembled motorcycles at the manufacturing stage.... MoU inked to export rice to Mexico ISLAMABAD, Oct 13: Pakistan and Mexico on Friday inked a memorandum of understanding (MoU) on export of Pakistani rice to Mexico.... Pakistan geared to become investment hub ISLAMABAD, Oct 13: Prime Minister Shaukat Aziz on Friday said with Pakistan’s investment regime, the country was geared to become regional hub for trade and manufacturing.... NBP to open branch in India next year ISLAMABAD, Oct 13: National Bank of Pakistan (NBP) hopes to set up its first branch in India next year, the bank''s president said on Friday.... Oil prices gain $1 on production concerns LONDON, Oct 13: World crude oil prices leapt by more than a dollar on Friday, recovering at the end of a week which witnessed New York crude strike the lowest point in 2006.... Tender for LNG terminal ROME, Oct 13: Pakistan next week will invite international firms to bid for a project to build the country''s first plant to import liquefied natural gas (LNG), part of a plan... KSE 100-share index recovers 44.26 points KARACHI, Oct 13: Stocks on Friday were back on the rails as leading bank and oil shares came in for active short-covering at the lower levels and finished modestly recovered amid light trading.... Russian regulators threaten Lukoil MOSCOW, Oct 13: Russian environmental regulators announced a crackdown on Friday on Lukoil, the country''s biggest oil firm, following pressure on foreign energy companies in Russia that provoked international objections about unfair treatment.... Karachi Port operations KARACHI, Oct 13: Seven ships, including a loader to load 13,000 tons of rice, are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Cotton market rules firm KARACHI, Oct 13: The cotton market on Friday showed firm trend as prices were up by Rs25 per maund in physical trading amid large ready offtake.... OGDC plans overseas exploration ventures ISLAMABAD, Oct 13: Pakistan''s Oil and Gas Development Company Ltd (OGDCL) hopes to enter its first overseas exploration venture next year, the firm''s chief executive said in an interview ahead of a planned London listing.... Port Qasim KARACHI, Oct 13: Shipping activity remained active at the port where three ships scheduled to load, offload containers, wheat and diesel oil took berth berths during the last 24 hours, said a PQA press release here on Monday.... ‘Economic development creates jobs’ LYON (France), Oct 13: Minister of State for Finance and Chairman of the Competitiveness Support Fund (CSF), Omar Ayub Khan said that Pakistan’s GDP growth at 8.4... GE profits up NEW YORK, Oct 13: Giant US conglomerate General Electric Co. reported on Friday a six per cent rise in third-quarter net earnings, but entertainment division NBC Universal weighed on profits.... EADS gets control of Airbus PARIS, Oct 13: The European aerospace group EADS has taken full control of aircraft manufacturer Airbus, acquiring on Friday an outstanding 20 per cent stake held by British defence group BAE Systems for 2.75... Rating KARACHI, Oct 13: JCR-VIS Credit Rating Company Limited has reaffirmed the insurer financial strength rating of Century Insurance Company Limited (CICL) at ''A'' (single A) with a ''stable'' outlook.... Asian stock markets higher HONG KONG, Oct 13: Asian stocks took their cue from a record close on Wall Street, finishing sharply higher on Friday with many striking all-time or multi-year highs on growing confidence in the global economy.... Islamic economic forum LONDON, Oct 13: A number of prominent UK entrepreneurs will attend the three-day World Islamic Economic Forum being held in Islamabad from November 5.... Palm oil up KUALA LUMPUR, Oct 13: Malaysian crude palm oil futures edged higher in thin trade on Friday, lifted by firm soyaoil prices and a stable crude oil market.... European shares stable LONDON, Oct 13: European stock markets steadied on Friday, despite fresh record highs on Wall Street overnight, which gave a lift also to Japanese share prices....

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