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December 17, 2006 Sunday Ziqa'ad 25, 1427 Remittances go up by 24pc in five months KARACHI, Dec 16: Inflow of remittances has further gone up as the first five months of the current year received 24 per cent higher remittances than the corresponding period of last year.... Land ownership record to be computerised by ’09: Tax on agriculture income KARACHI, Dec 16: Tax on agriculture income will be collected to its full potential by 2009 when a Sindh government computerisation project aimed at collecting data on ownership titles will be completed at a cost of Rs432 million.... Oct trade deficit in services sector widens 45.2pc ISLAMABAD, Dec 16: The trade deficit in services sector widened by 45.21 per cent during the first month of the second quarter (October 2006) over the same month last year.... 70 tax facilitation centres, 30 RTOs planned KARACHI, Dec 16: The Central Board of Revenue (CBR) will set up 30 regional tax offices (RTOs) and 70 tax facilitation centres throughout the country to collect internal taxes, including income... Opec plays balancing act by deferring output cut RIYADH, Dec 16: Despite the calls from within Opec to go for a kill and reinforce markets with an immediate output cut, the decision by the oil cartel to defer implementing... $41.6m WB credit converted into grant ISLAMABAD, Dec 16: The Pakistan government and the World Bank (WB) on Saturday signed an agreement to convert $41.61 million credit the former had taken from the International Development Association (IDA) into grant.... Local firm launches project in UAE KARACHI, Dec 16: First Pakistani project was launched on Saturday in Ras Al Khaimah — the northern most emirate of the UAE - in which the Emirate’s RAK Investment Authority took... Shaukat eyeing record FDI this year ISLAMABAD, Dec 16: Prime Minister Shaukat Aziz on Saturday said that the country would attract a record inflow of foreign direct investment (FDI) during this fiscal year due to investor-friendly policies of the government.... Pakistan to host Cairns group moot ISLAMABAD, Dec 16: Pakistan will host Cairns group meeting in a bid to evolve a strategy for reviving the stalled Doha negotiations.... Kenya agrees to release Pakistani rice ISLAMABAD, Dec 16: The Kenyan government has agreed to release the withheld containers of Pakistani rice, an official in the commerce ministry told Dawn on Saturday.... Cotton production ISLAMABAD, Dec 16: Federal Minister for Food, Agriculture & Livestock, Sikandar Hayat Khan Bosan, on Saturday expressed the hope that the production of cotton will cross the target fixed this year.... Oil stocks BEIJING, Dec 16: China''s top energy policymaker confirmed on Saturday that Beijing was likely to use underground caverns to stockpile emergency crude in a second phase of development, but he did not say when they might be ready for use.—Reuters... Indonesian exports JAKARTA, Dec 16: Indonesia’s exports by the end of this year are expected to reach $97 billion while the exports in October reached $82.207 billion.... Pakistan, Chile to cooperate in mining ISLAMABAD, Dec 16: Pakistan and Chile have agreed to promote ties in the energy and mineral sectors aimed at bringing the two countries closer.... Brisk trading on cotton market KARACHI, Dec 16: Fairly brisk trading was again witnessed on the cotton market on Saturday as leading spinners and mills were virtually out to grab the unsold lots lying with ginners.... China urges oil consumers to unite BEIJING, Dec 16: China, hosting its first major energy summit on Saturday, urged top oil consumers to join together in the face of resurgent producer power and sought to paper over differences on how best to achieve energy security.... Kuwait revenues jump 17 per cent KUWAIT CITY, Dec 16: Kuwait''s revenues in the first eight months of the current fiscal year topped 37 billion dollars, a 17-percent increase over the same period last year, on the back of high oil prices, a report said Saturday.... Nigeria to sell largest refinery ABUJA, Dec 16: The Nigerian privatisation agency, BPE, renewed its plan to sell at least 51 per cent of the nation''s largest refinery complex in southern oil-city of Port Harcourt, a statement said.... Local bank launches credit card KARACHI, Dec 16: MCB Bank would not hire ‘goons’ for recovery of default amounts as many banks have adopted as common practice for recovery.... Shipping service KARACHI, Dec 16: Hyundai Merchant Marine Company Ltd will continue to serve the Pakistani trade with fast and direct shipping services in order to boost exports of fresh fruits and seafood.... Election KARACHI, Dec 16: Mian Javaid-ur-Rehman was elected chairman and Shahid Rashid Malik and Waqar Rasheed vice-chairmen South Zone and North Zone, respectively, of the Pakistan Carpet Manufacturers and Exporters Association for the year 2006-08.... Share sale MUMBAI, Dec 16: An initial share sale by the Indian unit of British oil firm Cairn Energy was oversubscribed 1.3 times near the lower end of its offer range, a banker and the Mumbai stock exchange said Saturday.—AFP... Oil prices mixed as precious metals lose shine LONDON, Dec 16: World oil prices ended the week mixed after gaining from Opec''s decision to cut output further and a sharp drop in US energy stockpiles.... ECB ready to raise rates FRANKFURT, Dec 16: The European Central Bank is ready to raise eurozone interest rates further and will not put off any such moves to avoid potential clashes with politicians, Bundesbank President Axel Weber said Friday.... Dollar closes higher NEW YORK, Dec 16: The dollar extended its modest rally on Friday as investors shook off a tame inflation report, focusing instead on data showing strong capital inflows and improving industrial output.... Karachi Port operations KARACHI, Dec 16: Five ships carrying containers, crude oil and to load clinker are due to arrive at the outer anchorage on Sunday, according to KPT sources....

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