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December 21, 2006 Thursday Ziqa'ad 29, 1427 Industry seeks end to strikes in Karachi KARACHI, Dec 20: Businessmen of the metropolis have appealed not to paralyse the financial and industrial nerve centre of the country by giving a call for another strike.... Plan to increase local car output ISLAMABAD, Dec 20 : Auto Industry Development Plan (AIDP) is a five-year plan under which the government aims to increase local production of cars from 200,000 in 2005-06 to 500,000 in... Punjab cotton narrows production shortfall KARACHI, Dec 20: The Improved flow of phutti from cotton fields in Punjab has greatly helped narrow down the overall shortfall in cotton production caused by short crop in Sindh.... Rapid growth helps Pakistan cut poverty ISLAMABAD, Dec 20: Pakistan’s economic growth rate averaging around seven per cent over the last three to four years has resulted in substantial poverty reduction and improvement in standard of living,... Stocks recover 127 points after rupee rating upgrade KARACHI, Dec 20: The last two sessions’ massive fall on the stock market on Wednesday was halted as investors covered positions at the lower levels on most of the blue chip... Progress of textile sector reviewed ISLAMABAD, Dec 20: The government is making a strategy to increase efficiency and cost-effectiveness and to provide the requisite support to textile sector of the country without compromising its inherent strength... Japan draft budget cuts borrowing TOKYO, Dec 20: Japan unveiled a draft budget on Wednesday that will cut new borrowing to the lowest level in 10 years, thanks largely to a huge increase in tax revenues on the back of a strong economic recovery.... Bush backs WTO round WASHINGTON, Dec 20: US President George W. Bush offered his renewed backing on Wednesday for the World Trade Organisation''s embattled efforts to free up global commerce.... SBP fails to achieve T-bills sale target KARACHI, Dec 20: Despite huge inflows the State Bank could hardly sell one sixth of the target it set for the auction of Treasury bills on Wednesday mainly because the banks avoided participation.... Greater interaction with Indian businessmen stressed ISLAMABAD, Dec 20: Chairman Senate, Mohammedmian Soomro, has underlined the need for greater interaction between the businessmen of India and Pakistan and observed that "we can learn and benefit a lot from each other’s experiences."... ECO mineral experts discuss cooperation ISLAMABAD, Dec 20: The third two-day meeting of the mineral experts of ECO member states started here on Wednesday organised by the ministry of Petroleum and Natural Resources.... Oil prices rise on US stocks slump LONDON, Dec 20: World oil prices advanced on Wednesday as traders seized on news that crude reserves in the United States slumped more heavily than expected last week.... Mittal steps up merger drive PARIS, Dec 20: Arcelor Mittal, the world''s leading steel maker, signalled its intention to pursue global steel sector consolidation on Wednesday, as it announced plans to acquire a Mexican producer and... Trading gets slow on cotton market KARACHI, Dec 20: After last couple of weeks’ hectic activity on the cotton market, physical trading on Wednesday showed a considerable slowdown as leading spinners and mills kept to the sidelines for no apparent adverse news.... Traders lament delays by customs KARACHI, Dec 20: The All-Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (APFVEIMA) has alleged that delay on part of customs authorities in the clearance of perishable goods was bearing negative impact on their exports.... Unemployment benefits STOCKHOLM, Dec 20: Sweden began controversial reform of its generous unemployment benefit system on Wednesday which has brought thousands of people onto the streets in defence of a long tradition of welfare protection.... Kazakhstan, China sign energy deals BEIJING, Dec 20: Kazakhstan has reached a series of deals with neighbour China to smooth cross-border energy trade and cooperation, as its President Nursultan Nazarbayev kicked off a state visit to Beijing this week.... Karachi Port operations KARACHI, Dec 20: Four vessels carrying soyabean meal, containers and to load molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, Dec 20: Two vessels, Nedlloyed America and Frontier Express, were accommodated berths at QICT and Fotco Terminal during the last 24 hours, said a PQA press release on Wednesday.... Appointment KARACHI, Dec 20: Mubashir Naqvi has been appointed as President and CEO of Ufone. He will assume the charge of his office from January 1, 2007.... IFC credit KARACHI, Dec 20: The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has signed an agreement to provide a partial credit guarantee in local currency to Pakistan’s Institute of Business Management.... FPCCI polls KARACHI, Dec 20: Chairman Businessmen Panel Tariq Saeed has announced that the seventh candidate Ahsan Farid from Bhimber Chamber of Commerce and Industry (BCCI) has also been elected unopposed as vice... Asian stocks recover HONG KONG, Dec 20: Asian stocks recovered from sharp falls on Wednesday after Thailand''s military government backed down on imposing harsh currency controls which saw Bangkok shares lose a massive 15 per cent.... European shares head higher LONDON, Dec 20: Europe''s main stock markets climbed on Wednesday after Wall Street enjoyed further record gains overnight. London''s FTSE 100 index of leading shares won 0.39... Palm oil up JAKARTA, Dec 20: Malaysian crude palm oil futures closed higher on Wednesday, fuelled by concerns about declining supplies this month after floods in the producing area of Johor and despite disappointing export data.... EOBI linkage KARACHI, Dec 20: Thirty-one regions of EOBI located in different cities have been linked with the IT centre of its head office in Karachi through which all the data base information will be available on website....

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