DAWN - Business; November 17, 2006

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November 17, 2006	Friday	Shawwal 24, 1427

External, local business suffering: Transporters’ strike continues KARACHI, Nov 16: A large number of consignments of imported essential items like pulses have been awaiting clearance from the two ports owing to goods transporters’ strike which entered its third consecutive day on Thursday....		Brokers offered relief in netting regime ISLAMABAD, Nov 16: The Securities and Exchange Commission of Pakistan (SECP) has announced further relief to brokers in the netting regime following excessive threat to the implementation of the already delayed proposed risk management measures....
Remittances rise by 19 per cent in July-Oct KARACHI, Nov 16: The remittances sent by overseas Pakistanis workers grew by 19 per cent during July-October 2006 giving a sigh of relief to the government burdened with huge trade imbalances....		BoE governor reassures no more rate hikes LONDON, Nov 16: Britain’s borrowers were reassured on Thursday by the Bank of England that after all there would perhaps be no more increase in the interest rate from 5 per...

Floods, motor claims dent earnings: Insurance sector KARACHI, Nov 16: Core earnings of non-life insurance companies for the nine months ended September 30, 2006 were spoiled by claims arising out of damages due to floods and the perennial losses in the motor business....		Oil prices extend gains LONDON, Nov 16: World oil prices rose further on Thursday as traders digested falling heating fuel stocks and forecasts of colder weather in major consumer the United States, dealers said....

Govt urged to cut WT on edible oil imports ISLAMABAD, Nov 16: Pakistan Vanaspati Manufacturers’ Association (PVMA) has asked the government to reduce the withholding tax to one per cent from three per cent on imported edible oils....		Citigroup wins $3.1bn bid for China bank BEIJING, Nov 16: Citigroup, the largest bank of United States, said on Thursday it won a $3.1 billion bid for China’s troubled Guangdong Development Bank after a protracted battle against France’s Societe Generale....

KSE 100-index gains 38 points on selective buying KARACHI, Nov16: Share market on Thursday gave an improved performance aided by selective support on some of the blue chip counters but the activity lacked aggressiveness....		Dollar higher LONDON, Nov 16: The dollar inched ahead against the euro here on Thursday despite a fall in US consumer prices that dampened prospects for an interest rate hike by the US Federal Reserve....

Prices edge higher on cotton market KARACHI, Nov 16: Cotton prices on Thursday were quoted modestly higher as spinners and mills continued to build up long positions at the current levels amid fears of pressure on ready supplies in the backdrop of reports of a short crop....		Survey on access to financial services KARACHI, Nov 16: A consumer survey titled “Access to Finance Study (A2FS)” is being under taken by the Ministry of Finance in conjunction with the State Bank of Pakistan....

Plan to develop competitive food industry ISLAMABAD, Nov 16: The Competitiveness Support Fund (CSF) has decided to develop an effective food processing industry in Pakistan by proposing viable recommendations aimed at removing critical bottlenecks and obstacles hence making the sector internally and internationally competitive....		US consumer prices drop WASHINGTON, Nov 16: US inflation cooled sharply in October, data released on Thursday showed, raising hopes that the Federal Reserve now has the evidence it needs to start cutting interest rates soon....

Karachi Port operations KARACHI, Nov 16: Seven ships carrying palm oil, DAP fertiliser and containers are due to arrive at the outer anchorage on Friday, according to KPT sources....		Carbon tax NAIROBI, Nov 16: France on Thursday stood by a controversial proposal to impose an EU-wide carbon tax on countries that refuse to join the Kyoto Protocol from 2012, and said the scheme had been warmly welcomed by many countries....

Trade deficit in services rise 55.3 per cent: July-September ISLAMABAD, Nov 16: The first quarter external trade data released on Wednesday showed that the trade deficit in services was wider than the corresponding months of last year as exports witnessed a decline at much higher rate than imports....		Palm oil lower BANGKOK, Nov 16: Most Malaysian crude palm oil futures closed lower on Thursday as profit-taking pulled the market down after expectations of good exports and a decline in output due to wet weather lifted it in early trade....

Banana war GENEVA, Nov 16: Ecuador launched an attack on the European Union’s banana import regime at the World Trade Organisation on Thursday, complaining it was unfair to Latin American producers....