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November 15, 2006 Wednesday Shawwal 22, 1427 Growers oppose import of Indian lint MULTAN, Nov 14: Reports of lint import from India via Wagha border have upset agriculturists and ginners in southern Punjab. Some analysts, however, describe such reports to be a millers’ ploy to depress the local cotton market.... Exports decline 3.24pc in Oct ISLAMABAD, Nov 14: Exports of merchandise declined by 3.24 per cent during the first month (October 2006) of the second quarter of the fiscal year 2006-07, over the same month last year.... Banks asked not to buy costly IT solutions: NOC from SBP mandatory KARACHI, Nov 14: The State Bank finally intervened to check the heavy purchasing of costly IT solutions and software by the banks.... PFAL bidder yet to pay Rs4bn penalty KARACHI, Nov 14: The Privatisation Commission has been unable to recover Rs4 billion as the differential between the bid amount made by the highest bidder who backed out of the deal... Export of wheat products suffering KARACHI, Nov 14: Exporters of wheat products are under stress. Problems they are confronted with include: availability of quality wheat on sustained basis and stability of price in the market.... MOL profit up 112pc ISLAMABAD, Nov 14: The net profit of Hungarian oil and gas company MOL has more than doubled to $589 million in the third quarter of 2006, up 112 per cent from a year ago.... Sales of bikes dip, trucks rise in July-Oct KARACHI, Nov 14: The sales of motorcycles and tractors declined by 16 and 0.25 per cent, but the sales of trucks, bus and light commercial vehicles (LCVs) surged by 20, 4.1... Bosicor gets Rs2.6bn syndicated loan KARACHI, Nov 14: United Bank and Allied Bank signed an agreement on Tuesday to provide a syndicated loan of Rs2.6 billion to Bosicor Pakistan Limited, the fifth largest oil refinery.... Stocks react positively to OGDC share offerings KARACHI, Nov 14: Share market on Tuesday recovered from the recent lows on active covering purchases on the blue chips counters aided by reports of disinvestment of 15 per cent government... Panic buying on cotton market KARACHI, Nov 14: Trading on the cotton market on Tuesday resumed on a brisk note as spinners and mills made extensive covering purchases apparently fearing further increase in prices.... Dollar weaker LONDON, Nov 14: The dollar came under pressure against the euro here on Tuesday on signs of tamer inflation in the United States, which appeared to dampen prospects for a rise in interest rates.... TDAP to have financial autonomy ISLAMABAD, Nov 14: Commerce Minister Humayun Akhtar Khan said on Tuesday that the Trade Development Authority of Pakistan (TDAP) will be under the administrative control of his ministry to ensure that... Islamic banks reserve requirements increased KARACHI, Nov 14: Islamic banks will have to maintain six per cent special cash reserve in addition to cash reserve requirement (CRR) against FE-25 deposits, says a State Bank circular issued here on Tuesday.... Fertiliser sector ISLAMABAD, Nov 14: Government will provide all possible cooperation and give more incentives to the private sector for the development of fertiliser industry in the country.... Palm oil mixed KUALA LUMPUR, Nov 14: Malaysian crude palm oil futures closed mixed on Tuesday, due to lack of trading opportunities as the market awaited next update on palm oil exports.... Gold lower LONDON, Nov 14: Gold inched lower in erratic trade on Tuesday, struggling to resist selling pressure at higher levels after a recent rally to a two-month high.... Asian stocks close up HONG KONG, Nov 14: Asian stocks closed mostly higher on Tuesday with benchmarks returning to multi-year highs and record levels after solid gains were posted on Wall Street overnight.... Karachi Port operations KARACHI, Nov 14: Six vessels carrying steel, lube oil and containers are due to arrive at the outer anchorage on Wednesday, according to KPT sources....

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