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January 20, 2007 Saturday Zilhaj 29, 1427 PMI buys 50.21pc stakes in Lakson: Rs20.62 billion deal KARACHI, Jan 19: The Philip Morris International (PMI) announced on Friday that it will further acquire over 50 per cent stakes in the Lakson Tobacco Company that will bring an inflow of $338.9... $100m Swiss ethanol plant likely at PQ ISLAMABAD, Jan 19: Switzerland intends to invest $100 million for setting up a maize-based ethanol plant near Port Qasim for export of ethanol to international destinations by enhancing adequate availability of... Property Tax to be collected monthly KARACHI, Jan 19: Property tax now billed on yearly basis will be collected on the mode of utility bills every month. Under a proposal being discussed by the Sindh Ministry of... Textile exports up 4.3pc in 6 months ISLAMABAD, Jan 19: The export of textile products increased by 4.33 per cent to $5.318 billion during the first half year (July-Dec) of the fiscal 07 as against $5.097... Stocks consolidate gains on buying at dips KARACHI, Jan 19: Stocks on Friday consolidated previous gains and maintained a status quo despite the weakness of leading oil shares owing to fall in international prices below the $50 but the broader market performed well.... 0.47m IT returns not filed in 2006 ISLAMABAD, Jan 19: More than 0.479 million taxpayers have not filed tax returns with the income tax department during the tax year 2006 mainly due to the non-existence of an audit system, an official told Dawn on Friday.... Oil prices rise LONDON, Jan 19: World oil prices rose slightly on Friday, breaching $52 per barrel in London, while remaining above $50 in New York. Crude futures had tumbled to a 19-month lower... Customs duty revenue falls by 6.1pc in 6 months KARACHI, Jan 19: Revenue collection at customs stage recorded a decline of 6.19 per cent to Rs63.890 billion during first six months of current fiscal compared to Rs68.111... Ghee exports to Kabul decline by 50pc KARACHI, Jan 19: Ghee manufacturers have said that export of vegetable ghee to Afghanistan has declined by 50 per cent due to reduction in sales tax refund and duty drawback rates on exports.... No plan to cut import duty on Malaysian palm oil KARACHI, Jan 19: Pakistan will not cut import duty on Malaysian palm oils despite requests by the southeast Asian nation.... POL import bill up by 21.83pc ISLAMABAD, Jan 19: The country’s import bill of petroleum products increased by 21.83 per cent during the July-December period of fiscal year 2006 to $3.711 billion as against $3.046... Rules under Trade Organisations Ord to be made public KARACHI, Jan 19: Federal Minister for Commerce Humayun Akhtar Khan on Friday assured the business community that rules under the Trade Organisations Ordinance, 2006, would be made public, consulted and then finalised.... Slow cotton trading on higher prices KARACHI, Jan 19: Cotton market on Friday tended further higher as ginners raised their asking prices but spinners were not inclined to make bigger commitments keeping in view their export parity levels.... State Bank restructures, renames NCCC KARACHI, Jan 19: The State Bank of Pakistan has restructured and renamed the National Credit Consultative Council (NCCC) as Private Sector Credit Advisory Council (PSCAC).... Karachi Port operations KARACHI, Jan 19: Seven ships including a car carrier with 1,200 cars are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim KARACHI, Jan 19: Brisk shipping activity was witnessed at the port where seven ships to load, unload containers, edible oil, chemicals, diesel oil, and iron ore were allotted berths at QICT,... New SAI chairman KARACHI, Jan 19: Imran Shaukat was elected chairman while Rauf A. Sattar and M. Asif Siddiq elected unopposed as senior vice-chairman and vice-chairman, respectively, of the Site Association of Industry for the year 2006-07.... Asian stocks close mixed HONG KONG, Jan 19: Asian stocks closed mixed on Friday as investors focussed on domestic issues and consolidated in the wake of recent sharp gains and overnight falls on Wall Street.... Palm oil prices lower KUALA LUMPUR, Jan 19: Malaysian crude palm oil futures slipped 1.6 per cent on Friday as the weather in the country''s flood-hit south improved and prices of rival soyaoil declined.... HBL profit rates KARACHI, Jan 19: The Habib Bank Limited on Friday declared the following profit rates on various categories of PLS deposits during the second half of the year ended December 31, based... Karachi market rates KARACHI, Jan 19: The following were Friday’s commodity market rates in rupees.... Company news NEW YORK, Jan 19: US banking titan Citigroup announced a 26 per cent drop in its latest quarterly profits on Friday, attributing the earnings slowdown to a one-time gain a year ago and the overhaul of its Japanese operations....

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