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January 06, 2007 Saturday Zilhaj 15, 1427 Rs34bn debt-swap for textile sector KARACHI, Jan 5: Textile sector struggling to survive amid tough competition from China and India in the world export market will get big relief of Rs34 billion debt-swap option given by the State Bank on Friday.... HBFC to finance low-cost housing project in Gwadar KARACHI, Jan 5: The House Building Finance Corporation (HBFC) is to finance 1,000 low cost housing units in Gwadar, which will be allotted to the displaced persons, local fishermen as well... Upcountry consumers paying higher cost: Autos use 70pc of LPG KARACHI, Jan 5: The increasing use of liquefied petroleum gas (LPG) by the taxis and rickshaws is resulting in its shortage and ultimate price-hike hitting poor people living in villages and remote areas the most.... Joint company to set up refinery, naphtha plant KARACHI, Jan 5: Chairman Iran Foreign Investment Company Darvishzadeh has said that the company is keen in setting up a refinery, and naphtha cracker plant in Pakistan.... Support at dips averts major fall on stock market KARACHI, Jan 5: Stocks on Friday failed to extend the overnight run-up and fell modestly lower as a section of brokers indulged in weekend profit-selling at the higher levels but it was absorbed at the dips.... More GDRs to be completed by June ISLAMABAD, Jan 5: Pakistan will realize US$811 million through the successful international offering of the OGDCL’s 10 per cent shares on the London Stock Exchange through Global Depository Receipts (GDR) and proposed retail offering.... Cut in palm oil import duty likely ISLAMABAD, Jan 5: Pakistan is likely to review import duty structure on palm oil by February in response to a Malaysian request to cut the tariff, a senior government official said on Friday.... 913 firms registered in three months ISLAMABAD, Jan 5: The Securities and Exchange Commission of Pakistan (SECP) registered 913 companies during the last quarter of the calendar year 2006. Progressing forward from the new incorporation of 249... Oil prices slump below $55 LONDON, Jan 5: World oil prices dropped below $55 per barrel on Friday, with light sweet crude oil reaching its lowest level for more than 18 months owing to warm winter... Talks on oil dispute likely next week MINSK, Jan 5: Belarusian Prime Minister Sergei Sidorsky plans to hold talks in Moscow next week to defuse a dispute with Russia over oil supplies and transit of the commodity across Belarus, his office said on Friday.... Reserves KARACHI, Jan 5: Pakistan''s foreign exchange reserves rose by $145 million to $12.904 billion in the week ending on December 30, the central bank said on Friday.... Euro plunges LONDON, Jan 5: The European single currency sank against the dollar on Friday to a six-week low after data revealed that US employers added a better-than-expected 167,000 new jobs in December.... New branches KARACHI, Jan 5: The Pak-Oman Microfinance Bank would enhance its outreach by opening 20 new branches in the year 2007. This was stated by President and Chief Executive of the Bank, Ozair A.... Fed’s role WASHINGTON, Jan 5: Federal Reserve Chairman Ben Bernanke said on Friday the Fed''s bank supervisory role allows it to obtain critical information about financial sector conditions that helps it to more effectively manage financial crises.... Insipid trading on cotton market KARACHI, Jan 5: Trading activity on the cotton market on Friday remained cheerless as spinners were still in the process of formulating their new year buying operations.... US economy adds 167,000 jobs WASHINGTON, Jan 5: US employers added a healthy 167,000 new jobs in December, the government said in a report on Friday that suggested upbeat economic conditions despite evidence of a slowdown.... Jobless rate dips OTTAWA, Jan 5: Canada’s unemployment rate fell to a 30-year low in December as 62,000 new jobs were created, the government said on Friday. Statistics Canada said in a report that the national unemployment rate fell 0.2... GM vows to fight for every sale DETROIT, Jan 5: General Motors boss Rick Wagoner insists the US company will not give up its position as the world''s top automaker without a fight.... PHA chairman KARACHI, Jan 5: Muzaffar Baweja has been elected chairman of Pakistan Hotels Association (PHA). While Zubair Soorti and Junaid Ashraf have been elected as members of the executive committee, says a press release.... Offshore oil exploration HANOI, Jan 5: Vietnam''s prime minister has given the go-ahead for joint oil exploration between Chinese and Vietnamese state oil companies in the Gulf of Tonkin, state media reported on Friday.... BD’s forex reserves at all-time high DHAKA, Jan 5: The foreign exchange reserves of the Bangladesh Bank reached an all-time high on Thursday, thanks to a rise in remittance inflows and export earnings.... Asian stocks closed mixed HONG KONG, Jan 5: Asian stocks closed mixed on Friday, however gains were less than convincing among the benchmarks that rose with investors showing signs of increasing unease given the extent of the recent rally.... Malaysian palm oil up KUALA LUMPUR, Jan 5: Malaysian palm oil futures rose more than 2 per cent on Friday, ending three straight days of decline on worries over expected heavy rainfall and technical buying.... European shares fall LONDON, Jan 5: European stock markets extended losses on Friday at the end of mixed week that saw indices begin 2007 by striking the highest points for almost six years....

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