DAWN - Business; January 23, 2007

Low Graphics Site


January 23, 2007	Tuesday	Muharram 03, 1428

China Mobile to take 89pc stake in Paktel KARACHI, Jan 22: China Mobile Communications Corporation (CMCC) is all set to buy majority stake in the Paktel held by the Millicom International Cellular SA (MIA)....		Rs3.2bn realised from sale of OGDC shares: Oversubscribed by 38pc ISLAMABAD, Jan 22: The over-subscription of OGDCL''s domestic offering is a significant success and it sends a strong signal of investors’ confidence in the company and economic reforms of the government....
Textile millers building up pressure: Relief package KARACHI, Jan 22: All Pakistan Textile Mills Association (Aptma) is holding an extra-ordinary general meeting in Lahore on Tuesday to keep on mounting pressure on the government for getting more financial relief and utility tariff concessions....		Pakistan suggests criteria for farm products: Tariff reduction ISLAMABAD, Jan 22: Pakistan has floated a proposal at the World Trade Organisation (WTO) in a bid to minimise the differences among the member countries over the selection of special farm...

Bulls tighten grip over stock market KARACHI, Jan 22: The KSE 100-share index on Monday maintained its upward drive and breached through the barrier of 10,700 as leading base shares came in for fresh active support under the lead of MCB, National Bank and Hub-Power....		Japan to enhance economic cooperation KARACHI, Jan 22: A three-hour long business dialogue between visiting 69 Japanese businessmen and a large number of Pakistani business leaders on Monday decided to set up a study group to...

2 licences granted for petroleum exploration ISLAMABAD, Jan 22: The government on Monday granted two petroleum exploration licences to the joint venture of the Orient Petroleum International Inc. (OPII) and the Zaver Petroleum Corporation Limited (ZPCL)....		Engro earns Rs2.55bn profit for FY06 KARACHI, Jan 22: Engro Chemical Pakistan on Monday announced profit after tax (PAT) at Rs2.55 billion for the financial year ended December 31, 2006....

KSE board elects chairman KARACHI, Jan 22: The board of directors of the Karachi Stock Exchange on Monday re-elected Zaffar A. Khan as its chairman for a second one-year term....		First half FDI up by 67pc to $1.87bn KARACHI, Jan 22: Foreign direct investment (FDI) in Pakistan rose 67 per cent to $1.87 billion in the first half of 2006-07, led by inflows into the communications, energy, and banking and financial services sectors, official figures show....

SHC restrains share transfer KARACHI, Jan 22: The Sindh High Court restrained the Bank Islami Pakistan Limited and the Modaraba Al Makatib from transferring their shares to M/s Jahangir Siddiqui and Company on Monday....		NIT, HBL sign accord KARACHI, Jan 22: The National Investment Trust (NIT) and the Habib Bank Limited (HBL) signed an agreement on Monday, authorising the bank to sell NIT Units through its designated branches in the country....

Poultry farmers to cut output to raise prices: Bid to recover losses ISLAMABAD, Jan 22: The poultry industry is likely to increase prices of chicken through an artificial decrease in production in the next two weeks in order to make up for the...		Round-the-clock cargo clearance ISLAMABAD, Jan 22: The government will launch a new cargo clearance system from Feb 1 at all airports and ports for round-the-clock clearance of exportable and importable goods, says Chairman, Central Board of Revenue (CBR), M....

Customs duty collection dips ISLAMABAD, Jan 22: The collection of customs duty from eight major revenue spinners has declined due to more than 20 per cent negative growth in imports during the first half of...		Prices rule firm on cotton market KARACHI, Jan 22: Cotton market on Monday maintained firm trend as ginners were not inclined to lower their asking prices having a fair idea of the total crop size....

Karachi Port operations KARACHI, Jan 22: Four ships carrying base oil, coal and containers are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Over a dozen ships were berthed...		Port Qasim KARACHI, Jan 22: Three ships to load/offload containers, edible oil and crude oil were accommodated berths at QICT, MPT and Fotco Terminal during the last 24 hours, said a press conference....

Two banks announce profit rates KARACHI, Jan 22: The First Women Bank Ltd has announced profit rates on various types of PLS deposits for the half year ended Dec 31. Special Notice Time Deposits: Seven days (3.25pc);...		Karachi offers best business environment KARACHI, Jan 22: Sindh Governor Dr Ishratul Ibad has said that Karachi, the financial and industrial nerve centre of the country, is being developed on scientific lines and its business environment...

Asian stocks close at record highs HONG KONG, Jan 22: Asian stocks on Monday shrugged off a mixed performance by Wall Street last week and rallied sharply higher with Hong Kong, Shanghai, Sydney, Singapore and Wellington closing at record highs....		Gas supplies restored to two plants LAHORE, Jan 22: The Sui Northern Gas Pipeline Limited (SNGPL) on Monday restored supplies to two major fertiliser plants - Pak-Arab and Daud Hercules. It, however, stopped supplies to Pak-American plant for fifteen days....

Oil prices recover LONDON, Jan 22: World oil prices extended a pre-weekend rally on Monday, helped by the arrival of a cold snap in the United States that was expected to raise demand for heating fuel, traders said....		Palm oil up KUALA LUMPUR, Jan 22: Malaysian crude palm oil futures rose around one per cent on Monday, lifted by higher prices of rival soyaoil and continuing wet weather that stoked concerns over supplies....