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December 28, 2006 Thursday Zilhaj 06, 1427 PM okays long-term auto policy ISLAMABAD, Dec 27: Prime Minister Shaukat Aziz on Wednesday approved, in principle, the long-term auto policy and asked the ministry of industries to submit a detailed auto industry development programme (AIDP) latest by March 31.... US ready to import Pakistani mangoes LAHORE, Dec 27: The United States of America has agreed to import mangoes from Pakistan, provided exporters can meet the quality standards. The American nod came on Tuesday after a video-conference... GDP down to 4.4pc in privatisation era: Jobless rate jumps to 5.66pc KARACHI, Dec 27: The annual growth rate of Gross Domestic Product (GDP) came down to 4.45 per cent during the privatisation decade of 1991-92 to 2001-02 as compared to 6.70... Rs850m offer received for Services Hotel ISLAMABAD, Dec 27: The Privatisation Commission has received the highest offer of Rs850 million for the sale of land of “Services International Hotel (SIH)” on Shahrah-e-Quaid-e-Azam, in Lahore.... Stocks turn in mixed performance KARACHI, Dec 27: Stocks on Wednesday turned in mixed performance amid alternate bouts of buying and selling on selected counters as follow-up support turned shy.... Three local companies to launch Sukuk bonds KARACHI, Dec 27: Dubai Islamic Bank (DIB) will launch $120 million worth of Sukuk bonds for three Pakistani companies, officials told Dawn on Wednesday. The bonds of Karachi Shipyard and Engineering... Oil prices ease LONDON, Dec 27: World oil prices extended losses on Wednesday as mild weather in the US led to expectations of a drop in US demand for heating oil, traders said.... Good harvests to boost economic growth KARACHI, Dec 27: The country’s economic growth is likely to receive a fillip from higher-than-expected output of major crops in the current fiscal year, a government official said on Wednesday.... Govt refuses to lower duty on palm olien KARACHI, Dec 27: The government has refused to reduce the import duty on palm olien as proposed by the edible oil producers to save the consumers from paying further higher prices.... Rupee remains under pressure KARACHI, Dec 27: The rupee fell to a 26-month low on Wednesday as importers bought the dollar aggressively to make year-end payments, and dealers said the rupee would remain under pressure in the near-term.... West Europe gas supplies at risk: Belarus-Russia row MINSK, Dec 27: Belarus and Russian state monopoly Gazprom warned on Wednesday that their worsening dispute over gas prices could hit western European energy supplies from next week, in an apparent re-run of last year’s gas crisis with Ukraine.... Subdued trading in cotton KARACHI, Dec 27: Physical activity on the cotton market on Wednesday remained subdued as leading spinners and mills kept to the sidelines owing to delivery problems.... Excise duty payment procedure for solvent oil ISLAMABAD, Dec 27: The Central Board of Revenue (CBR) has notified procedures for payment of excise duty on solvent oil for manufacturers of shoe adhesive.The procedures were notified through a federal excise general order (No 8) issued here on Wednesday.... Indian rice exports to fall by 10-15pc NEW DELHI, Dec 27: India''s basmati rice exports are likely to fall by 10 to 15 per cent in the year to March 2007 as prices of the aromatic grain have shot up, industry officials said on Wednesday.The... Tin price hits 17-year high on supply fears LONDON, Dec 27: The price of tin hit a 17-year high point in trading here on Wednesday owing to expectations of a supply deficit in 2007, largely owing to a drop in Indonesian output, traders said.... Karachi Port operations KARACHI, Dec 27: Four ships carrying containers and to vehicles are expected to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves was modest... Saudi shares shed 52pc in 2006 RIYADH, Dec 27: The Saudi stock market on Wednesday closed one of the most turbulent years in its history, ending 2006 down 52.53 per cent under strong correction pressure following seven years of continuous rise.... Suez Canal fees ISMAILIYA (Egypt), Dec 27: The Suez Canal Authority said on Wednesday it will raise transit fees for ships using the waterway by an average 2.84 per cent in 2007.... Seminar KARACHI, Dec 27: Citigroup in collaboration with the IBA, Karachi, organised a 12-day seminar titled “Introduction to Risk Management” from December 11 to 23. Funded entirely through a grant of $25,000,... Sindh to produce 20,000 bales of clean cotton HYDERABAD, Dec 27: Sindh will produce 20,000 bales of clean cotton of grade-2 during the cotton season 2006-07. This was revealed at a meeting of the representatives of the textile ministry, TCP, ginners, Cotton Standard Institute and Agriculture Extension department.... Asian stocks higher HONG KONG, Dec 27: Asian stocks followed Wall Street''s lead and closed mostly higher on Wednesday with Hong Kong, Sydney, Shanghai, Wellington and Jakarta all striking a best ever finish.... Palm oil prices down KUALA LUMPUR, Dec 27: Malaysian palm oil futures closed slightly lower on Wednesday, as players took profits after a rally that drove prices to their highest in nearly eight years.... Computing standards KARACHI, Dec 27: The United National Development Programme (UNDP), IBM and Oracle on Wednesday signed a joint research initiative to help Asia-Pacific countries share and create strategies, blueprints, and policies for adopting the right blend of open standards and technology services.... Celebrations KARACHI, Dec 27: EFU on Wednesday launched its 75-year celebration plans at a local hotel. To mark 2007 as the celebration year, the EFU plans to conduct several events throughout the... Karachi market rates KARACHI, Dec 27: The following were Wednesday’s commodity market rates in rupees.... Company news KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength rating of New Jubilee Insurance Company Limited (NJI) at AA (Double A) with a ‘Stable’ outlook, says a press release....

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