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December 08, 2006 Friday Ziqa'ad 16, 1427 Qadirpur gas plant bidding on Monday KARACHI, Dec 7: On Monday, (Dec 11), the government would put up for bidding 100mmcfd of gas from Qadirpur gas field for setting up a new fertiliser plant, sources in the industry confirmed on Thursday.... LPG consumers to pay less KARACHI, Dec 7: Distributors and marketing companies ruled out any big relief to consumers with regard to LPG prices after the government decision to abolish five per cent customs duty on liquefied gas import.... CBR directed to release Rs22bn ST refunds ISLAMABAD, Dec 7: Prime Minister Shaukat Aziz on Thursday directed the CBR to immediately release Rs22 billion withheld sales tax refunds of the textile sector.... Positive list to double trade with India ISLAMABAD, Dec 7: A study has revealed that the formal trade with India could be double from $1 billion to $2 billion after a recent action by Pakistan to increase the positive list of tradable products from 773 to 1075 items.... PC invites EoIs for Hazara Fertilisers ISLAMABAD, Dec 7: The Privatisation Commission has offered another opportunity to investors to participate in the privatisation of the Hazara Phosphate Fertilisers Ltd (HPFL), by inviting fresh Expressions of Interest from prospective buyers latest by Jan 15.... Stock market undergoes mild correction KARACHI, Dec 7: The KSE 100-share index on Thursday suffered a mild reaction owing to pruning in the leading base shares, notably banks and oil but the broader market performed credibly well followed by selective support.... Formation of competition body delayed ISLAMABAD, Dec 7: The conversion of Monopoly Control Authority (MCA) into a proposed competition commission has been delayed due to the law ministry''s doubts over the draft law, although it was duly approved by Prime Minister Shaukat Aziz.... SBP to sell 30-year PIBs KARACHI, Dec 7: For the first time PIBs of 30 years maturity will be sold in the auction to be held on December 21, by the State Bank.... 5 directors elected on KSE board KARACHI, Dec 7: Five directors were elected by the members of the Karachi Stock Exchange on Thursday who would represent the stock brokerage fraternity on the board for the calendar year 2007.... Austria keen to invest KARACHI, Dec 7: Austria plans to open its Trade Marketing Office in DHA as Austrian investors and businessmen are keen to invest in various development projects in Pakistan.... Uranium market ALMATY, Dec 7: A Russian-Kazakh mining company said on Thursday it aimed to dominate the world uranium market after producing its first ton of the radioactive metal.... Oil prices mixed after Nigeria attack LONDON, Dec 7: World crude prices travelled in different directions on Thursday after an attack on an oil installation in Nigeria, Africa''s biggest producer of crude, and amid forecasts of warmer US weather and before next week''s OPEC meeting.... Privatisation of Iraq’s oil industry proposed: ISG releases report SAN FRANCISCO, Dec 7: The Iraq Study Group has urged the US to assist in privatizing Iraq''s national oil industry and dividing oil revenues on population basis among Shias, Sunnis and Kurds.... Buying spree continues on cotton market KARACHI, Dec 7: Cotton market on Thursday ruled firm as spinners and mills continued to build up long positions at the current levels amid fairly brisk activity.... Govt urged to revoke decision on duty-free import of cabs LAHORE, Dec 7: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has criticised government decision to allow duty-free import of controversial Black Cabs in the name of “purpose-built taxis and passenger buses.”... Malaysia to buy Indian oil firms KUALA LUMPUR, Dec 7: Malaysian palm oil company IOI Corporation said on Thursday it would acquire two oleochemical firms from Indian conglomerate Aditya Birla Group in a deal worth 423 million ringgit ($119.41... Karachi Port operations KARACHI, Dec 7: Five ships carrying DAP fertiliser, general cargo and containers are due to arrive at the outer anchorage on Friday, according to KPT sources.... Portugal GDP LISBON, Dec 7: Portugal GDP growth accelerated to 1.5 per cent year-on-year in the third quarter on the back of higher exports to its European partners, the National Statistics Institute said on Thursday.... US jobless claims fall WASHINGTON, Dec 7: The number of newly laid off workers filing claims for unemployment benefits dropped last week by the largest amount in six months, relieving worries about a big jump in claims in the previous week.... Libya, Eni to renew energy partnership MILAN, Dec 7: Libya and Italian oil and gas major Eni are set to renew an energy partnership and have agreed to joint investments in oil and gas in Libya and other African countries, said the son of Libyan leader.... China to host energy moot BEIJING, Dec 7: China will host a gathering next week of high-level officials from major energy-importing nations including the United States, Japan, India and South Korea, an official said on Thursday.... Airbus to invest $1bn in India NEW DELHI, Dec 7: Europe''s Airbus said on Thursday it would double investment in India to at least $1 billion as it forecast the country would need 1,100 new planes over 20 years to meet soaring air travel demand.... CBR officers to attend MBA course ISLAMABAD, Dec 7: The Central Board of Revenue (CBR) and Institute of Business Administration (IBA) on Thursday signed the contract renewal agreement for probationary officers attending the MBA course in tax management.... R&D support KARACHI, Dec 7: The State Bank of Pakistan has allowed the facility of six per cent R&D support to readymade textile garments units operating from the Export Processing Zone (EPZ) effective from April 2006.... Asian stocks close flat HONG KONG, Dec 7: Asian stocks closed flat to lower on Thursday after a lacklustre Wall Street performance offered no support ahead of key US and Japanese economic data due out Friday, dealers said.... Gold recovers after two-week lows LONDON, Dec 7: Gold steadied on Thursday after falling to its lowest in two weeks and platinum recovered from a five-week low, but the metals remained vulnerable because of a volatile dollar.... ECB ups rates to 5-year high FRANKFURT, Dec 7: The European Central Bank raised its key interest rates to their highest level in five years on Thursday, as ECB watchers speculated that the current cycle of rate increases in Europe might soon be at an end.... Palm oil down KUALA LUMPUR, Dec 7: Malaysian crude palm oil futures closed marginally lower on Thursday, as prices of rival soyaoil declined on the Chicago Board of Trade.... Reserves KARACHI, Dec 7: The total liquid foreign reserves held by the country fell down by $175.3 million at $12,303.1m on December 2, 2006, State Bank of Pakistan announced here on Thursday.... Euro steady LONDON, Dec 7: The euro held steady against the dollar here on Thursday as traders mulled comments from the head of the European Central Bank suggesting that the ECB’s rate-hiking cycle might be coming to an end....

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