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December 12, 2006 Tuesday Ziqa'ad 20, 1427 Engro wins Qadirpur gas bid ISLAMABAD, Dec 11: The government on Monday allotted 100 million cubic feet of gas per day from the Qadirpur gas field in Sindh to the Engro Chemicals Private Limited at Rs101... Doubts persist despite SBP’s firm stand: Currency market KARACHI, Dec 11: Pressures, doubts, fears of panic and rumors gripped the currency market on Monday while the importers found it hard to decide whether to buy now or wait.... Sartaj Aziz backs State Bank on exchange rate LAHORE, Dec 11: A former finance minister in the cabinet of the exiled prime minister Nawaz Sharif on Monday lent support to the central bank on its stern stance on the... Milk retailers refuse to sell at official rate KARACHI, Dec 11: Fresh milk retailers have refused to sell at official rate of Rs28 per litre, while the city government is launching a price checking drive from Tuesday to ensure compliance.... Stocks crawl up amid confusion on IMF advice KARACHI, Dec 11: The denial by the central bank about the devaluation of the rupee or hike in interest rates triggered modest covering purchases on selected counters on Monday, although the... Institutional offering in OGDC shares completed ISLAMABAD, Dec 11: The Privatisation Commission on Monday announced that Citigroup, Goldman Sachs International and BMA Capital had exercised the Over-allotment option over 53,294,000 ordinary OGDCL shares in the form of GDS.... Dubai Ports to sell US operations DUBAI, Dec 11: State-owned Dubai Ports World said on Monday it had agreed to sell its American port operations to AIG Global Investment Group after relinquishing control of them earlier this year to allay US national security concerns.... Signing of shipping protocol on 14th: Pakistan-India KARACHI, Dec 11: India and Pakistan are going to sign shipping protocol on Thursday which will allow flag ships of both the countries to carry third country cargo from each other’s ports.... Gas supply to 74 more units curtailed LAHORE, Dec 11: The Sui Northern Gas Pipeline Ltd (SNGPL) on Monday cut supplies to another 74 units of the general industry to ensure uninterrupted supplies to domestic consumers as cold wave continues in the country.... Customs rules for ship movement amended ISLAMABAD, Dec 11: The Central Board of Revenue (CBR) has amended customs rules regarding arrival and departure of vessels in ports for compliance with Pakistan Customs Computerized System (PACCS).... Russia, Opec move away from dollar reserves GENEVA, Dec 11: Major oil-exporting countries have been moving away from dollar deposits to accumulate reserves in other currencies including the euro and the Japanese yen, the Bank for International Settlements said on Monday.... Oil prices decline LONDON, Dec 11: World crude prices dropped under $62 on Monday owing to warmer-than-normal temperatures in the United States, but an expected cut in output by Opec later this week limited losses, traders said.... USAID team KARACHI, Dec 11: Minister of State Tariq Ikram on Monday proposed signing of an MoU between the Trade Development Authority of Pakistan (TDAP) and the USAID for continuity of interaction on specified priorities.... Slow trading amid high asking prices KARACH, Dec 11: Trading on the cotton market on Monday resumed on steady note but physical activity remained relatively slow owing to higher asking prices by the ginners.... UK inflation at all time high LONDON, Dec 11: Britain''s inflation rate in November is set to rise to its highest since comparable records began almost a decade ago as utility price rises continue to feed into the index.... AJK set to meet CED target on cigarettes MUZAFFARABAD, Dec 11: The AJK Excise and Taxation Department has achieved a sizeable increase in the amount of central excise duty (CED) on locally manufactured cigarettes and is set to meet... Yuan exchange rate BEIJING, Dec 11: China''s exchange rate is a sovereign issue for the government to decide by itself, a senior central bank official said on Monday, just days before a visit by a high-powered US delegation.... Entity rating KARACHI, Dec 11: The JCR-VIS Credit Rating Company Ltd (JCR,VIS) has reaffirmed the medium-to-long-term entity rating of BBB-(Triple-B minus) and short-term rating of A-3 (A-three) assigned to the MIMA Leather (Pvt) Ltd (MIMA).... Karachi Port operations KARACHI, Dec 11: Six ships carrying palm oil, coal and containers are due to arrive at the outer anchorage on Tuesday, according to KPT sources.Berthing activity at the wharves was brisk... Port Qasim KARACHI, Dec 11: Four ships load and offload containers, rice and furnace oil were accommodated berths on Sunday.... Award KARACHI, Dec 11: The KPT has been awarded the running-up shield by Seatrade Middle East Maritime 2006 for showing excellent cargo handling performance during 2005-06.... Wheat sowing FAISALABAD, Dec 11: The agriculture department has advised growers to complete late sowing of wheat positively by Dec 15.... Asian stocks close mostly higher HONG KONG, Dec 11: Asian stocks closed mostly higher on Monday in line with gains on Wall Street at the end of last week with markets cheering an improved United States employment report.... Palm oil prices KUALA LUMPUR, Dec 11: Malaysian crude palm oil futures ended up 1.6 percent on Monday as falling estimates of exports were offset by bullish price forecasts, dealers said.... European stock markets gain LONDON, Dec 11: Europe''s stock markets gained solidly on Monday, buoyed in part by takeover activity amid a renewed bidding war for Anglo-Dutch steel giant Corus, dealers said.... Gold up LONDON, Dec 11: Gold rose on Monday after hitting a three-week low, with bargain hunters and physical buyers supporting a market that remained vulnerable due to thin trading ahead of Christmas....

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