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| December 09, 2006 | Saturday | Ziqa'ad 17, 1427 |
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Pakistan to contest EU trade moves at WTO
ISLAMABAD, Dec 8: Pakistan has decided to challenge the European Union''s (EU) trade restrictive measures adopted under the generalised system of preferences (GSP) plus scheme and anti-dumping duty on bed linen in the Geneva-based World Trade Organisation (WTO), it is learnt.... 
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Govt advised to allow currency depreciation
ISLAMABAD, Dec 8: The World Bank on Friday asked Pakistan to allow currency depreciation through a flexible exchange rate that would support deteriorating exports facing tough competition from neighbours....
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Exporters resent delay in textile bail-out package
LAHORE, Dec 8: Prime Minister Shaukat Aziz’s decision to form yet another committee to examine the report prepared by the National Textile Strategy Committee (NTSC) has “disappointed and frustrated” most textile...
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Flawed policy deprives exporters of R&D support
KARACHI, Dec 8: Exporters have complained about major flaws in the textile ministry’s Research and Development (R&D) support policy, which almost disallows them to get the facility announced under relevant SROs....
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Bearish spell continues on stock market
KARACHI, Dec 8: Stocks on Friday extended the overnight easiness as leading investors were again conspicuous by their absence apparently awaiting the advent of institutional and speculative support but short-term investors took profits at the available margins....
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Trading gets slow on cotton market
KARACHI, Dec 8: After hectic activity during the last couple of weeks, the physical business on the cotton market slowed down on Friday as leading buyers took a technical breather to have an overview of their inventories....
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CNG units blamed for high gas use
KARACHI, Dec 8: Residential consumers are facing low gas pressure problem owing to increasing gas consumption in winter which, coupled with the opening of new CNG stations in residential areas, has reportedly caused gas shortage in some pockets....
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Oil prices jump on Nigeria concerns
LONDON, Dec 8: World crude prices rose strongly on Friday after threats of further attacks to oil facilities in Nigeria and ahead of next week''s output meeting by Opec, analysts said....
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SBP allows Islamic microfinance banks
KARACHI, Dec 8: The State Bank will help to establish Islamic microfinance banks to service the low income segments. The SBP has formulated draft guidelines for provision of Islamic microfinance services and products by financial institutions....
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Indians in Gulf to remit $20bn
DUBAI, Dec 8: Some six million Indian expatriates in the six oil-rich Gulf Arab states will send home this year around $20 billion in remittances, a United Arab Emirates official said in remarks published on Friday....
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Output falls
BERLIN, Dec 8: German industrial production fell unexpectedly in October, with construction and energy output hardest hit, but economists said the data were probably a blip and that the outlook for the fourth quarter remained good....
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Overproduction
MOSCOW, Dec 8: Oil firms in Russia are overproducing by more than 10 per cent and officials will take measures to stop them, Natural Resources Minister Yury Trutnev and Prosecutor General Yury Chaika said on Friday....
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China outpaces Asean in exports
CEBU (Philippines), Dec 8: China has now outstripped Asean''s top economies in exports and the bloc needs to re-think its economic model or risk being marginalised, experts and industry leaders said here on Friday....
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Weak domestic demand slows Japan’s economy
TOKYO, Dec 8: Japan said on Friday its economy grew at less than half the pace previously reported in the third quarter as falling domestic demand sapped momentum while October machinery orders missed expectations....
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Foreign firm still to join Shtokman gas field
MOSCOW, Dec 8: Foreign firms can still help develop Russia’s giant Shtokman gas field under new conditions, Russian Energy Minister Viktor Khristenko said on Friday, weeks after Gazprom dashed the hopes of five energy majors....
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Resignation
KARACHI, Dec 8: President and Chief Executive Officer of Ufone Pakistan Babar Khan has resigned from his position. He will be joining an international concern based in UAE and is expected...
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US job gains
WASHINGTON, Dec 8: US employers added 132,000 jobs in November, the government announced on Friday in a report that suggests overall economic growth remains on track....
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Gold eases in Europe, eyes US payrolls data
LONDON, Dec 8: Gold eased after trading in a tight $3-an-ounce range on Friday, with investors carefully trading the metal ahead of US payrolls data that may determine gold''s short-term direction....
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Palm oil prices higher
KUALA LUMPUR, Dec 8: Malaysian crude palm oil futures closed higher but off their day''s highs on Friday despite upbeat price outlooks from industry experts, dealers said.The...
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European stock markets slip
LONDON, Dec 8: European stock markets declined on Friday after Wall Street had extended losses overnight ahead of key US jobs data, while mining shares dived in London....
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Port Qasim
KARACHI, Dec 8: Three ships carrying containers and chemicals were accommodated berths at QICT and EVT during the last 24 hours, said a PQA press release on Friday....
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Karachi Port operations
KARACHI, Dec 8: Seven ships carrying general cargo, containers and to load clinker are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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