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January 19, 2007 Friday Zilhaj 28, 1427 SBP unclear about achieving targets KARACHI, Jan 18: The State Bank of Pakistan has advised the government in blunt terms to reduce its dependence on borrowing from the central bank as it is “most inflationary and it contributes to reserve money growth”.... Low imports of dutiable items hitting revenue ISLAMABAD, Jan 18: The gradual slowdown trend in imports, particularly in dutiable imports has posed a serious threat to the government to achieve the annual tax target of Rs835 billion set for the fiscal year 2006-07.... Results of OGDC offer eagerly awaited KARACHI, Jan 18: The secondary public offering of shares in the Oil and Gas Development Company (OGDC) at Rs110 per share in the local markets looks like having received lukewarm response... Millers suffer losses due to gas supply disruptions LAHORE, Jan 18: Some 187 textile mills, mostly spinning and weaving, in the Lahore region have lost 617 production days because of the periodic suspension of gas for self-power-generation since the first week of December, industry sources said on Thursday.... Stocks extend gains on selective buying KARACHI, Jan 18: The PSO on Thursday remained in strong demand for the third session in a row as buying euphoria linked to its privatisation possibly in March did not allow investors to take even a technical breather.... New tax-free port planned ISLAMABAD, Jan 18: Pakistan will have its fourth port along a new city with the name of "Aladin City" and Prime Minister Shaukat Aziz is expected to approve its plan in... Minimum cash reserves requirement enhanced KARACHI, Jan 18: The State Bank has increased the daily minimum Cash Reserves Requirement (CRR) for banks, which would further tighten the monetary policy announced on Thursday.... Privatisation yields $6bn in 7 years ISLAMABAD, Jan 18: Federal Minister for Privatisation and Investment Zahid Hamid has stated that the government is fully committed and very serious to bring Pakistan State Oil (PSO) to the bidding... S. Africa lifts duty on bedlinen KARACHI, Jan 18: South Africa has withdrawn countervailing duty of 6.14 per cent imposed five years ago on bedlinen imports from Pakistan. As the South Africa’s textile industry did not apply... Import of mild steel allowed from India ISLAMABAD, Jan 18: The government on Thursday allowed import of mild steel and galvanised iron sheets from India for exclusive use in the reconstruction in the quake-affected areas of Azad Kashmir and the NWFP.... Panic-buying on cotton market KARACHI, Jan 18: Brisk activity was witnessed on the cotton market on Thursday as spinners and mills made near-panic buying in the backdrop of latest arrival figures of phutti and their impact on the future price outlook.... Pakistan ahead of regional economies: Economic freedom index WASHINGTON, Jan 18: Pakistan is ranked ahead of many regional economics in terms of economic freedom, according to the latest worldwide index of economic freedom. The 2007 Index of Economic Freedom,... ECO states agree to set up trade body KARACHI, Jan 18: The member states of the Economic Cooperation Organisation have agreed to set up an ECO Federation of National Associations composed of private sector shipping agents, freight forwarders, truck operators, multimodal transport operators and ship-owners.... Russia to build oil refinery MOSCOW, Jan 18: Russian oil firm Rosneft outlined plans on Thursday for construction of a new $2 billion (1.5-billion-euro) refinery, the first such facility to be built in Russia for 25 years.... Karachi Port operations KARACHI, Jan 18: Eight ships carrying steel scrap, soyabean meal and containers are due to arrive at the outer anchorage on Friday, according to KPT sources.... Port Qasim KARACHI, Jan 18: Three ships to load/offload containers and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Thursday. Meanwhile, six more ships carrying containers,... 150 Pakistani companies participate in Heimtextil KARACHI, Jan 18: Over 150 leading textile manufacturing companies from Pakistan participated in Heimtextil held in Frankfurt, Germany, from Jan 10 to 13, and managed to get sizeable repeat orders as... Customs duty cut on raw materials ISLAMABAD, Jan 18: The Central Board of Revenue (CBR) has slashed customs duty on import of a range of raw materials used in the manufacturing of farm and chemical products.... Two banks announce profit rates on PLS deposits KARACHI, Jan 18: The ABL and the Deutsche Bank have announced rates of profit on deposits for the half year, ending Dec 31, 2006.... Palm oil mixed JAKARTA, Jan 18: Malaysian crude palm oil futures were mixed in choppy trading on Thursday as players awaited clearer leads from a string of palm oil data next week, dealers said.... Human capital KARACHI, Jan 17: ICI Pakistan has signed an agreement with the British Council for the development of human capital in Pakistan. Under the agreement, the two organisations will work to further... MoU signed KARACHI, Jan 18: Standard Chartered Bank Pakistan Limited (SCBPL) and AKD Securities (Pvt) Limited have signed and MoU, whereby priority banking account holders of the bank who also have online trading... Appointments KARACHI, Jan 18: Deutsche Bank on Thursday announced that it had made five senior appointments to its Karachi office over the past few months, reinforcing its commitment to further developing its local business in the country.... Company news KARACHI, Jan 18: BMA Capital has launched its state-of-the-art online financial portal (http:// research.bmacapital.com). It allows investors to analyse companies’ performance with advanced fundamental and technical analysis to reach their investment decisions, says a press release....

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