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| February 06, 2007 | Tuesday | Muharram 16, 1428 |
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Insurance penetration lowest in Pakistan
KARACHI, Feb 5: Despite significant presence of insurance companies, insurance penetration in Pakistan is at the lowest level as compared to other countries across the world.... 
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Ukrainian firm gets $23m PS contract
ISLAMABAD, Feb 5: The Pakistan Steel Mills Corporation (PSMC) has awarded a $23 million (Rs1.4bn) contract to Ukrainian company Concord Industrial Project Ltd for carrying out "critical repairs" at the mills....
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Export to Switzerland up by 45.5pc
ISLAMABAD, Feb 5: Pakistan''s exports to Switzerland grew by 45.5 per cent in 2006 over the previous year after remaining stagnant for the last several years....
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Body to decide per kg tobacco output cost
ISLAMABAD, Feb 5: A sub-committee formed by the Senate Standing Committee on Commerce has started field work for determining the per kg cost of production of tobacco in order to resolve...
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LPG distributors not to buy gas at increased rates
KARACHI, Feb 5: Liquefied petroleum gas distributors have threatened to boycott purchase of gas from those marketing companies which will be offering an 11.8 kg LPG cylinder at Rs585 or higher...
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Pakistan buys fuel oil at higher prices
SINGAPORE, Feb 5: Pakistan State Oil bought 570,000-650,000 tons of February-April delivery high-sulphur fuel oil at higher prices via its regular three-monthly tender, a company official said on Monday....
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Oil rises on cold weather forecast
LONDON, Feb 5: World oil prices traded at the highest points for a month on Monday, as more icy weather was forecast to hit the United States, dealers said....
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Largest Islamic lender planned
KUALA LUMPUR, Feb 5: Kuwait Finance House unveiled plans on Monday to lead a consortium that could invest more than $3.43 billion in an indebted Malaysian bank and turn it into the world’s largest Islamic lender....
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Strong services activity in Eurozone
BRUSSELS, Feb 5: Activity in the eurozone''s service sector gathered more pace than expected in January, reaching a six-month high, according to a survey released on Monday....
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RWE plans investment in gas, wind power
FRANKFURT, Feb 5: RWE, Germany’s second-biggest power supplier, said on Monday it would invest billions of euros in major gas and wind power projects, including a brand new gas power station...
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Rs878m tools centre to be set up
LAHORE, Feb 5: The Technology Upgradation and Skill Development Company (TUSDEC) will set up a state of the art tools, dies and moulds centre in Gujranwala....
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US, Malaysia begin 5th round of trade talks
KUALA LUMPUR, Feb 5: The United States and Malaysia on Monday kicked off a make-or-break fifth round of trade talks, imperilled by sensitive issues and a row over a Malaysian energy deal with US foe Iran....
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China set to become ‘champion exporter’
COLOGNE, Feb 5: China will wrest the “world’s champion exporter” title from Germany as early as 2008, the federal foreign trade body BFAI predicted on Monday....
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Asian stocks turn in mixed performance
HONG KONG, Feb 5: Asian stocks followed Wall Street’s lacklustre performance and closed mixed on Monday with many investors reluctant to build fresh positions as the end to the Chinese lunar year nears....
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Saudi bank unveils plan for Malaysia
KUALA LUMPUR, Feb 5: Saudi Arabia''s Al Rajhi Bank, the world''s largest Islamic banking group, on Monday unveiled an aggressive plan to expand its operations in Malaysia to 50 branches by 2010....
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Palm oil futures rise sharply
KUALA LUMPUR, Feb 5: Malaysian crude palm oil futures surged almost two per cent on Monday, extending last week’s strong rally as rival soyoil continued to rise....
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Indian airlines suffer $400m loss
MUMBAI, Feb 5: India’s airlines lost $400 million in the nine months ended December 2006 as high fuel and aircraft purchase costs hit carriers, and more trouble is ahead, aviation executives said on Monday....
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Indonesia ratings
JAKARTA, Feb 5: Moody’s Investors Service on Monday raised the outlook for Indonesia’s B1 foreign and local currency government bonds from stable to positive, pointing to improvements in the country’s debt ratios....
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