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December 27, 2006 Wednesday Zilhaj 05, 1427 Foreign investment crosses $2bn mark KARACHI, Dec 26: Foreign investment crossed the significant mark of $2billion in just four months of the current financial year, recording a 100 per cent increase against the inflows during the corresponding period of last year.... Desalination plant for Gwadar to cost Rs700m ISLAMABAD, Dec 26: The federal government is urgently providing special Rs700 million funding to Balochistan to help meet 15-year water demand of the Gwadar Industrial Estate (GIE) through the installation of a foreign assembled desalination plant.... Misdeclaration causing huge losses to kitty KARACHI, Dec 26: Large scale misdeclarations of description and value of imported goods are being cleared through Customs Administrative Reforms (CARe) working under Model Customs Collectorate (MCC) causing millions of rupees... Russia, Belarus talks fail on gas price hike MOSCOW, Dec 26: The latest negotiations between Belarus and Russia’s gas giant Gazprom on a steep price increase ended in failure on Tuesday, Gazprom said, as the clock ticked down on a New Year deadline for Belarus to accept the hike.... Stocks cross psychological barrier of 10,000-point KARACHI, Dec 26: The KSE 100-share index on Tuesday again crossed through the psychological barrier of 10,000 points as leading base shares recovered from the previous lows on active short covering at the attractively lower levels.... Govt urged to develop mineral sector ISLAMABAD, Dec 26: The World Bank has asked Pakistan to improve its legal (regulatory) and fiscal (taxation) regimes and to have in place an institutional framework in order to attract foreign investment in the mineral sector of the country.... LPG prices go up KARACHI, Dec 26: After smelling demand spurt ahead of Eid-ul-Azha, market players and stakeholders have become active in minting money from consumers by raising the price of liquefied petroleum gas (LPG) to Rs43-44 from Rs39-40 per kg in just one day.... Dollar higher against euro PARIS, Dec 26: The dollar edged up on the euro on Tuesday in sluggish trading, with European stock exchanges on holiday and as dealers turned their attention to US economic data to be released later in the week.... African states extend import duty on rice ISLAMABAD, Dec 26: The East African Union Countries (EAC) — Kenya, Uganda and Tanzania -- have extended for another two years the old rate of customs duty of 35 per cent on import of rice from Pakistan.... Equity firms NEW YORK, Dec 26: Eleven major private equity firms on Tuesday said they have formed a trade group, the Private Equity Council, as the industry becomes a more powerful force in the nearly $4 trillion world of mergers and acquisitions.... Bangladesh projects 6.2-6.7pc inflation DHAKA, Dec 26: The central bank of Bangladesh has projected that inflation in the current fiscal year would range between 6.20 per cent and 6.7 per cent while the economy looks set to grow between 6.6... Listless trading on cotton market KARACHI, Dec 26: Quieter conditions prevailed on the cotton market on Tuesday as sellers and buyers kept to the sidelines for the second session in a row owing to delivery problems.... Turkey approves austerity budget ANKARA, Dec 26: The Turkish parliament passed its 2007 budget on Tuesday vowing to stick to the austerity measures encouraged by the IMF that have brought about spectacular economic recovery.... Arcelor Mittal faces action over Dofasco PARIS, Dec 26: The steel giant Arcelor Mittal said on Tuesday that it faced legal action by German industrial group ThyssenKrupp on grounds that it had not honoured a commitment to sell ThyssenKrupp the Canadian steelmaker Dofasco.... Marubeni, India food venture TOKYO, Dec 26: Japanese trading house Marubeni announced a tie-up with Indian conglomerate ITC on food businesses, including exports of Indian beans.... Singapore’s industrial output up SINGAPORE, Dec 26: Singapore''s industrial output in November expanded at a faster-than-expected pace of 14.7 per cent from last year, boosted by robust contributions from the biomedical and transport engineering industries, the government said on Tuesday.... Karachi Port operations KARACHI, Dec 26: Six ships carrying containers, DAP fertiliser and to load general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, Dec 26: Berthing activity was slow as only one container ship was accommodated berth at QICT on Monday, said a PQA press release on Tuesday.... Chile’s jobless rate SANTIAGO, Dec 26: Chile''s jobless rate is expected to have fallen to its lowest level in over eight years in the September-November period, with a sharp fall in the agricultural sector, according to a Reuters poll on Tuesday.The... Emerging debt risk spreads at record low SAO PAULO, Dec 26: Emerging debt risk spreads held at record-tight levels on Tuesday in a subdued market between holidays, with investors unwilling to change positions before the new year.... Argentina stocks seen climbing BUENOS AIRES, Dec 26: Stock prices and liquidity are seen continuing to rise next year on the Buenos Aires stock exchange, riding the strong local economy and gains in Tenaris, a steelmaker linked to the oil industry.... Debt prices CHICAGO, Dec 26: US Treasury debt prices were barely higher on Tuesday as signs of softer economic growth and less-than-stellar holiday-season retail sales failed to generate more than a brief wave of buying.... Certification KARACHI, Dec 26: The ISO certification of quality management (ISO-9001-2000) was conferred on the FPCCI by renowned German quality management firm, DSQ GmbH, says a FPCCI press release here on Tuesday.... Karachi market rates KARACHI, Dec 26: The following were Tuesday’s commodity market rates in rupees.... Asian stocks close mixed amid slow holiday trade HONG KONG, Dec 26: Asian stocks closed mixed on Tuesday in slow post Christmas holiday trade with those investors in the market positioning themselves ahead of the New Year.... Palm oil at near 8-year high on supply woes KUALA LUMPUR, Dec 26: Malaysian palm oil futures jumped 5 per cent on Tuesday to their highest level in nearly eight years, boosted by fears that floods would further cut supplies.... Indonesia plans to import Vietnam rice in 2007 JAKARTA, Dec 26:ndonesia will import half of a planned 500,000 tons of foreign rice for 2007 via a government-to-government deal with Vietnam due to limited time, a senior trade ministry official said on Tuesday.... Texas Dec manufacturing shrinks WASHINGTON, Dec 26: Texas manufacturing activity shrank in December, the Federal Reserve Bank of Dallas said on Tuesday, with a key gauge of production hitting the weakest level since the survey began in 2004....

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