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December 14, 2006 Thursday Ziqa'ad 22, 1427 Foreign investment safe in Pakistan: Saudi businessmen assured RIYADH, Dec 13: Foreign direct investment (FDI) in Pakistan has gone up to $3.8 billion from a mere $500 million as Pakistan has emerged as a major regional investment destination, Prime... Milk retailers penalised for overpricing KARACHI, Dec 13: The city government magistrates on Wednesday fined fresh milk retailers for selling the commodity at Rs30-32 per litre against the official rate of Rs28 under a price checking drive.... WB sees mass expansion in middle class: Prospects of globalisation WASHINGTON, Dec 13: Developing countries, particularly in Asia, will power the growth in global economy in the next 25 years, the World Bank predicted on Wednesday.By... Plan to boost agriculture exports ISLAMABAD, Dec 13: The government has finalised a new plan to enhance export competitiveness of the agriculture sector by promoting high quality products under a sustained value-addition programme.... Stocks shed overnight gains on profit-taking KARACHI, Dec 13: Share market on Wednesday failed to extend overnight recovery drive as investors indulged in profit-taking followed by reports that the National Assembly standing committee would again take up the forensic probe findings on the last year’s market crash.... Strategy to sustain pace of exports ISLAMABAD, Dec 13: Commerce Minister Humayun Akhtar Khan has said the high cost of production made Pakistani products less competitive against the Chinese and Indian goods in the international market.... Chinese mining firms get leasing rights KARACHI, Dec 13: Two well known Chinese mining companies — Sinochem Hebi Corporation and Zaozhuang Yongli Chemical company — signed on Wednesday a joint venture agreement to acquire leasing rights for mining and development of celestite mineral in Nooriabad.... 12.3 per cent decline in bike sales KARACHI, Dec 13: The motorcycles’ sale witnessed a 12.3 per cent decline between July and November 2006 as 188,025 units were sold during the period as compared to 214,521 units in the same period in 2005.... Study on open-ended spinning units ISLAMABAD, Dec 13: Federal Minister for Textile Industry Mushtaq Ali Cheema has asked the consultants to include open-ended spinning units in the analysis to work out an effective strategy for the promotion of spinning sector.... US energy inventories WASHINGTON, Dec 13: US energy inventories fell across the board in the past week as a winter cold snap pushed up demand for fuels, government data showed on Wednesday.... Jobless claims LONDON, Dec 13: The number of people claiming jobless benefits in Britain fell unexpectedly in November, official data showed on Wednesday. The claimant count dropped by 5,700 from October to 950,800 people, the Office for National Statistics said.... Social services MANILA, Dec 13: A senior Asian Development Bank official has urged China to spend more on social services as a way of redressing global payments imbalances, the Philippines-based lender said on Wednesday.... Industrial production up by 9.7 per cent ISLAMABAD, Dec 13: Pakistan''s industrial production grew by 9.70 per cent in the first quarter (July-September) of the fiscal year 2006-07 from a year earlier, showing a dismal performance of the production sectors, particularly in electronics, vegetable ghee and petroleum products.... Brisk trading on cotton market KARACHI, Dec 13: Physical business on the cotton market on Wednesday was maintained on the higher side as spinners and mills continued to build-up long positions fearing fresh rise in prices.... Faulty system delays ST refunds KARACHI, Dec 13: The Central Board of Revenue (CBR) has assured knitwear exporters to resolve the issue of pending sales tax refund claims within two months to ease the liquidity problem being currently faced by the export trade.... China’s industry output grows 14.9pc BEIJING, Dec 13: Booming exports and auto manufacturing helped China’s industrial output pick up slightly in November after it hit the lowest growth for the year in October, official data showed on Wednesday.Industrial... Japanese envoy for steps to boost trade QUETTA, Dec 13: The Ambassador of Japan to Pakistan, Mr. Seiji Kojima, has underlined the need for enhancing quantum of trade between Pakistan and Japan, which was not enough presently.... Iran offers joint venture in auto parts PESHAWAR, Dec 13: A five-member Iranian automobile delegation visited Peshawar to explore business and investment opportunities.... Karachi Port operations KARACHI, Dec 13: Seven ships carrying containers, chemicals and to load naphtha are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Dec 13: Berthing activity was slow as only one container ship accommodated berth at QICT during the last 24 hours, said a PQA press release on Wednesday.... Asian stocks close mixed HONG KONG, Dec 13: Asian stocks closed mixed on Wednesday with investors consolidating following falls on Wall Street overnight and a decision by the US Federal Reserve to leave interest rates unchanged.... PSO, SSGC accord on gas bills payment KARACHI, Dec 13: The Pakistan State Oil (PSO) and the Sui Southern Gas Company (SSGC) have signed an agreement under which 10 PSO stations would accept gas bills from consumers initially.... Palm oil KUALA LUMPUR, Dec 13: Malaysian crude palm oil prices faded on Wednesday as bullish sentiment gave way to a recent run of weak data, dealers said.... Karachi market rates KARACHI, Dec 13: The following were Wednesday’s commodity market rates in rupees....

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