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October 19, 2006 Thursday Ramazan 25, 1427 Textile sector profits decline: Rising interest rates KARACHI, Oct 18: The rising interest rate has started hitting the industrial sector, particularly the textile sector. The profitability of this key sector fell sharply despite a number of incentives offered by the government.... MCB GDR listed on London bourse KARACHI, Oct 18: The Global Depository Receipt (GDR) of MCB Bank Limited was formally listed on London Stock Exchange on Tuesday, making it the first Pakistani company to get listing at the LSE.Reports... Unilever profit rises 6pc KARACHI, Oct 18: Unilever Pakistan posted growth of 6 per cent in profit after tax amounting to Rs1,297 million, for the three quarters ended Sept 30, 2006, from Rs1, 225 million in the corresponding period of the previous year.... Parco plans to export 80,000 tons petrol KARACHI, Oct 18: Pak Arab Refinery Limited (Parco) has planned to export 75,000-80,000 tons of petrol this fiscal year owing to falling local consumption caused by a meteoric rise in domestic prices in the last few years.... Oil prices ease on eve of Opec output meeting LONDON, Oct 18: World crude prices slid on Wednesday, the eve of an Opec output meeting in Doha, after rebounding earlier on news of a surprise plunge in US heating fuel stocks, dealers said.... 11 banks not filing tax returns for 3 years ISLAMABAD, Oct 18: Eleven leading banks and financial institutions have not been filing their income tax returns for the last three years in violation of the Income Tax Ordinance 2001.... Four parties attend HPFL pre-bid moot ISLAMABAD, Oct 18: Four parties participated in the pre-bid meeting held here on Wednesday for the sale of 90 per cent shares of Hazara Phosphate Fertilizers Ltd (HPFL).... Hungarian companies interested in Pakistan ISLAMABAD, Oct 18: Hungarian Ambassador to Pakistan Bela Fazekas has said that a number of leading investors from his country were interested to invest in various areas in Pakistan taking advantage of investment friendly atmosphere available here.... Govt vows to develop engg sector ISLAMABAD, Oct 18: Industries and Production Minister Jahangir Khan Tareen has said that the government is committed to developing the engineering sector and bring value to it.... Trade with India to reach $2bn this fiscal: 302 items on positive list ISLAMABAD, Oct 18: Pakistan has diverted its global trade of $1.332 billion to India following the inclusion of 302 new importable items, mostly raw materials, industrial machinery and its parts, in... US economy PARIS, Oct 18: The IMF chief economist on Wednesday predicted slower than expected growth next year in the United States, with a “dramatic” slowdown in the housing market, but said global momentum remained “very strong.”... Bank, oil shares push index up 232.79 points KARACHI, Oct 18: Stocks on Wednesday extended the overnight run-up as investors continued to build up long positions on the bank and oil counters under the lead of some foreign funds.... NY cotton lower NEW YORK, Oct 18: Cotton futures finished sharply lower on Wednesday as another round of speculative sales hammered the market, and the weak tone meant fibre contracts could slip further this week, brokers said.The... Cotton market rules firm KARACHI, Oct 18: Physical activity on the cotton market on Wednesday was maintained on the higher side for the sixth session in a row as spinners were not inclined to take a technical breather to have an overview of their inventories.... UK firm to set up polyethylene facility ISLAMABAD, Oct 18: A leading British firm is mulling to establish a facility for production of high density polyethylene, linear low density polyethylene and low density polyethylene at Port Qasim with a annual capacity of 310,000 tons.... Karachi Port operations KARACHI, Oct 18: Five ships carrying DAP fertiliser, chemicals and general cargos are due to arrive at the outer anchorage on Thursday, according to KPT sources.... India aims 10pc GDP growth in 2007-2011 NEW DELHI, Oct 18: India, the world’s second-fastest growing major economy after China, set an ambitious target on Wednesday of attaining 10 per cent annual GDP growth within next five years.... Mexican economy MEXICO CITY, Oct 18: Mexico''s economy will grow by 4.5 per cent this year, more than previously thought, Finance Minister Francisco Gil said on Wednesday. Gil told reporters gross domestic product growth would be greater than an estimate of 4.2... Asian stocks higher HONG KONG, Oct 18: Asian stocks closed mostly higher with limited gains on Wednesday with sentiment weighed down by a fall on Wall Street, and the threat of another North Korean nuclear test.... European shares up LONDON, Oct 18: European equities rose on Wednesday, in line with Asian trading, as investors shrugged off a sluggish overnight showing on Wall Street, dealers said....

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