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December 07, 2006 Thursday Ziqa'ad 15, 1427 Temasek acquires 46pc PICIC shares KARACHI, Dec 6: With the acquiring of majority stakes in PICIC by NIB Bank, a subsidiary of Singapore’s state investment agency Temasek, another rising local bank will come under control of... Nine local TV assembling units close down: Influx of cheaper sets KARACHI, Dec 6: While the production of electronic consumers’ durables showed a robust growth during the last four years – TV makers portray a grim business scenario for the current fiscal.... National Bank modifies Rozgar scheme KARACHI, Dec 6: The National Bank of Pakistan has taken up the issue of Utilities Stores Corporation franchise for loan applicants under President’s Rozgar Scheme at the high level of government... US firms want to invest in Pakistan ISLAMABAD Dec 6: Pakistan is geared to become a major exporter of pharmaceuticals as it was implementing Intellectual Property Rights (IPR) laws and protection of patents with the objective of safeguarding... TDAP to help promote exports ISLAMABAD, Dec 6: The Standing Committee on Commerce was informed on Wednesday that Trade Development Authority of Pakistan (TDAP) would be a pro-active institution, which would work for the development and promotion of exports, yielding maximum benefits at the international level.... KSE 100-share index up on institutional support KARACHI, Dec 6: The KSE 100-share index on Wednesday posted fresh sharp gain of 127.22 points as leading base shares came in for active follow-up support under the lead of MCB,... Signing of FTAs to boost exports ISLAMABAD, Dec 6: Prime Minister Shaukat Aziz said on Wednesday the government was vigorously pursuing signing of free trade agreements (FTAs) with a number of countries to boost exports.... Four firms pre-qualified for KPT terminal KARACHI, Dec 6: The Karachi Port Trust (KPT) has pre-qualified four companies for the first terminal of Pakistan Deep Water Container Port (PDWCP) being built at a cost of $550 million.... Oil drifts higher after US stock data LONDON, Dec 6: World oil prices inched forward on Wednesday after official data revealed a drop in US energy inventories last week.... Contract for 50,000 tons urea finalized KARACHI, Dec 6: The Trading Corporation of Pakistan (TCP) has finalised the award of contract for supply of 50,000 tons of urea from international sources at a rate of $ 270 per ton carriage and freight.... Dollar higher LONDON, Dec 6: The dollar got a temporary lift against the euro here on Wednesday on a survey suggesting that US job creation in November will be shown to have been stronger than predicted.... UK improves growth forecast LONDON, Dec 6: Britain''s finance minister Gordon Brown unveiled a series of measures aimed at tackling global warming and raised his forecast for British economic growth in a key budget speech delivered on Wednesday.... Rs3.935bn decline in sales tax collection ISLAMABAD, Dec 6: The revenue realization under the heads of sales tax and customs duty has registered a negative growth during the first five months of the current fiscal year as against the targets set for the same period.... Slovak tax package BRATISLAVA, Dec 6: The Slovak government on Wednesday cleared a 1.059-billion-koruna (29.8-million-euro, $39.77-million) package of tax incentives to encourage South Korean company Samsung Electronics to expand its existing plant at Galanta, in the south of the country.... Oil exports MOSCOW, Dec 6: Russia could start cutting its annual oil exports by 1.0 per cent from 2025, Economic Development Minister German Gref said on Wednesday. “Until 2025 we will increase the... Cotton market shows steady trend KARACHI, Dec 6: Cotton market on Wednesday maintained firm trend as prices were again quoted on the higher side followed by reports of interruption in ginning operations owing to Monday’s rain in the entire cotton belt.... 8 pharma, textile companies penalised ISLAMABAD, Dec 6: The Monopoly Control Authority (MCA) has imposed fines on eight pharmaceutical and textile industries and rebuked a leading bottled water company for mis-statement while hearing an unreasonable monopoly power case.... Karachi Port operations KARACHI, Dec 6: Four ships carrying coal, steel and containers are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Dec 6: Shipping activity remained normal at the port where two ships carrying containers and chemicals took berths at QICT and Engro Terminal, respectively, during the last 24 hours, says a PQA press release.... US beef shipment blocked WASHINGTON, Dec 6: The United States accused South Korea on Wednesday of finding an unscientific “excuse” to keep out US beef in angry remarks that clouded controversial free-trade talks between the two nations.... Kenyan tea NAIROBI, Dec 6: Prices of Kenyan tea were mixed at this week''s auction with some grades favoured by the Pakistan and Afghanistan markets declining as buyers stayed on the sidelines, traders said on Wednesday.... Irish economy DUBLIN, Dec 6: Ireland''s economy will grow by 5.25pc next year, the country''s finance minister Brian Cowen forecast on Wednesday when he unveiled a tax-cutting, pension-boosting budget ahead of a general election in 2007.... Asian stocks close higher HONG KONG, Dec 6: Asian stocks closed higher on Wednesday with investors following Wall Street''s lead, set after a report showed a surprise acceleration in the US economy''s vast services sector.... European shares steady LONDON, Dec 6: European stock markets steadied on Wednesday ahead of a pre-budget report by British finance minister Gordon Brown and on the eve of interest-rate decisions by the ECB and Bank of England.... Palm oil up KUALA LUMPUR, Dec 6: Malaysian crude palm oil futures closed marginally higher on Wednesday, as soyaoil firmed slightly and the ringgit currency stabilised, dealers said. The benchmark February contract on the... Karachi market rates KARACHI, Dec 6: The following were Wednesday’s commodity market rates in rupees....

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