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December 16, 2006 Saturday Ziqa'ad 24, 1427 Strike hits industrial production: Export shipments stopped KARACHI, Dec 15: The strike called by Pakhtoon Action Committee (Loya Jirga) disturbed industrial activity in the city on Friday, especially in F.B. Area and North Karachi.... EU conveys reluctance on FTA ISLAMABAD, Dec 15: The European Union (EU) has officially conveyed to Pakistan their unwillingness to start negotiations on a free trade agreement (FTA), Dawn has learnt.... Govt not paying heed to SBP advice: High monetary growth KARACHI, Dec 15: Credit to private sector during the last five months remained half of what it was during the corresponding period of previous year, but the monetary growth was significantly higher mainly on account of the government’s speedy borrowing.... Govt focuses on innovation, competitiveness ISLAMABAD, Dec 15: Minister of State for Finance Omar Ayub Khan on Friday said the government was focusing on innovation and competitiveness to attain adequate sustainable economic growth.... Missing data triggers panic-selling KARACHI, Dec 15: Stocks finished the weekend session on an easy note on renewed selling in the overvalued bank and oil shares amid panic caused by reports that the brokers’ share... Cautious approach on trade deals urged ISLAMABAD, Dec 15: Speakers at a seminar urged the South Asian countries to adopt a common position on various agreements currently under negotiations in the WTO in a bid to protect the interests of their consumers.... Plan to develop jewellery sector KARACHI, Dec 15: The government is working on a proposal for introducing a degree programme in jewellery design and technology at Karachi University and is also establishing a training centre at University of Balochistan.... NLC inks accord with ME firm ISLAMABAD, Dec 15: The National Logistics Cell (NLC) has signed an agreement with a Middle Eastern company, Majid Al Futtaim Group of Companies, to jointly form a private limited company in Pakistan and invest in the real estate sector.... Joint ventures with South Korea urged LAHORE, Dec 15: The ambassador of South Korea, Kim Jooseok, has expressed his optimism that the volume of trade between Pakistan and South Korea is bound to increase if consistency in policies continues for a few more years.... Gasoline prices LONDON, Dec 15: Mediterranean gasoline prices rose again on Friday, but middle distillates came under pressure amid expectations of more mild weather. Gasoline prices added another $8 to Thursday''s $17 jump,... Enlarged Opec aims for high oil prices ABUJA, Dec 15: Opec members meeting in Nigeria this week decided to restrict their output but expand their club, sending strong signals that the cartel is targeting high prices and a tighter grip on world oil resources.... Gazprom to boost gas exports MOSCOW, Dec 15: Russia''s state gas monopoly Gazprom said on Friday it might increase the volume of the gas it sends through Ukraine to European markets.... Prices rule firm on cotton market KARACHI, Dec 15: Cotton market on Friday maintained a firm trend but physical business was light owing to weekly closure in the Punjab trading centres.... China resents US view on WTO BEIJING, Dec 15: China''s commerce ministry on Friday expressed regret over the United States'' harsh assessment of its compliance with its WTO promises, saying the criticisms were not objective.... US consumer prices flat WASHINGTON, Dec 15: U.S. consumer prices were unexpectedly flat in November on a drop in energy costs and prices were also unchanged from the previous month when volatile food and energy... Sri Lanka raises interest rates COLOMBO, Dec 15: Sri Lanka''s Central Bank on Friday unexpectedly raised its benchmark short-term interest rates by 0.375 per cent in a bid to tame inflation amidst rising defence expenditure.... Karachi Port operations KARACHI, Dec 15: Seven ships carrying containers, general cargo and load petrol and naphtha are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Dec 15: Four ships to load and unload containers, chemicals and edible oil arrived at the outer anchorage during the last 24 hours, said a PQA press release on Friday.... Eurozone BRUSSELS, Dec 15: Eurozone inflation nudged up in November to 1.9 per cent, but stayed within the European Central Bank''s target ceiling of 2.0 per cent, revised official figures showed on Friday.... Fertiliser handling KARACHI, Dec 15: The Karachi Port achieved record handling of fertiliser through grabs and bagging plant for the second consecutive year on December 14, says a press release.... Asian stocks sharply up HONG KONG, Dec 15: Asian stocks closed sharply higher on Friday, extending the latest rally after a strong overnight performance by Wall Street was fueled by a fall in US jobless claims.... European stock markets higher LONDON, Dec 15: European stock markets hit their highest levels for more than five years on Friday, after a record overnight performance on Wall Street, with London gains underscored by BAE Systems.... Palm oil prices KUALA LUMPUR, Dec 15: Malaysian crude palm oil futures ended slightly higher on Friday as a drop in December shipment estimates turned out to be smaller than expected, dealers said.... Gold closes lower LONDON, Dec 15: Gold inched down on Friday after trading in a tight band, with the dollar remaining the main potential trigger to move the market, analysts said....

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