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February 13, 2007 Tuesday Muharram 24, 1428 Textile leaders making case for 2nd incentive package KARACHI, Feb 12: Senior textile industry leaders offer different but interesting explanations when they are asked as to why they do not approach World Trade Organisation (WTO) to invoke anti- dumping... Builders to suspend cement buying KARACHI, Feb 12: Builders and contractors have decided to suspend cement purchase from February 15-22 on countrywide basis to protest against increasing its price to Rs260 per 50-kg bag from Rs210-225 by the manufacturers.... January saw 6.6pc rise in inflation ISLAMABAD, Feb 12: Inflation rose by 6.64 per cent during the month of January 2007 over the same month of the last year, Federal Bureau of Statistics (FBS) said on Monday.... Current account deficit up by 46pc in 6 months KARACHI, Feb 12: Higher foreign investment may provide some relief to government, but the rising current account imbalance has posed a serious threat to the economy.... Adamjee starts operations in Dubai KARACHI, Feb 12: Adamjee Insurance Company Limited (AICL) has started underwriting operations in the Emirates of Dubai, a senior company official said on Monday, in reply to a query.... Change in procedure irks KCCI: Certificates of origin KARACHI, Feb 12: President Karachi Chamber of Commerce and Industry (KCCI) Majyd Aziz has criticised the decision of the commerce ministry to transfer the issuance of certificates of origin from the chamber to the Trade Development Authority of Pakistan (TDAP).... Trade deficit soars to $7.595bn ISLAMABAD, Feb 12: Pakistan’s trade gap widened 16.43 per cent to $7.595 billion during the first seven months (July-January) of the current fiscal year compared to $6.52... Wholesale price jumps by 7.4pc ISLAMABAD, Feb 12: The wholesale price of commodities has increased by 7.44 per cent during the July-January period of the current fiscal year over the same period last year.... Dollar near 4-year highs LONDON, Feb 12: The dollar came close to a four-year high against the yen on Monday as traders continued selling the Japanese currency, ignoring the G7''s subtle hint about excessive risk taking over the weekend.... Stocks undergo massive technical correction KARACHI, Feb 12: Stocks on Monday received a massive battering followed by long overdue technical correction at the highly inflated levels but after mid-session bulls were back in the market and covered positions at the dips.... UK trade gap widens to 56bn pound in 2006 LONDON, Feb 12: With its trade gap widening to £56 billion in 2006 the UK experienced what is seen here as the worst year of trade deficit in over 300 years... UK mobile giant enters booming Indian market LONDON, Feb 12: British mobile phone giant Vodafone, grappling with intense competition in Europe, tapped into the booming Indian economy on Monday after winning control of Hutchison Essar for $11.1 billion.... EoIs invited for SME Bank ISLAMABAD, Feb 12: The Privatisation Commission has invited Expressions of Interest (EoI)’s from reputed firms or consortium of firms to act as financial advisor for the privatisation of SME Bank Ltd.... Slow activity on cotton market KARACHI, Feb 12: Trading on the cotton market on Monday resumed on an insipid note owing partly to slowdown in mill buying and partly higher asking prices.... LSE, ISE set to adopt unified trading platform LAHORE, Feb 12: The Unified Trading Platform, a system jointly adopted by Lahore and Islamabad stock exchanges, will become functional after the approval of regulations by the Securities and Exchange Commission of Pakistan (SECP).... Karachi Port operations KARACHI, Feb 12: Five ships carrying containers, general cargo and to load cement are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... EU to propose new rules LONDON, Feb 12: The European Commission will on Wednesday propose a package of new rules to lower trade barriers within the bloc that cost businesses as much as 150 billion euros per year, the Financial Times reported.... EU states asked to focus on competition PARIS, Feb 12: Italy''s Finance Minister called on his European partners on Monday to focus less on the euro''s exchange rate and concentrate instead on improving the competitiveness of their economies.... IFC training for directors ISLAMABAD, Feb 12: The International Finance Corporation (IFC), in partnership with Pakistan Institute of Corporate Governance (PICG), has launched the board development series, a programme to train board directors and top management on best practices in corporate governance.... Asian stocks mostly lower HONG KONG, Feb 12: Asian stocks closed mostly lower on Monday after fresh fears arose over the outlook for US interest rates which resulted in falls on Wall Street at the end of last week.... European stock markets fall LONDON, Feb 12: European stock exchanges dropped on Monday, despite huge gains for some shares and notably British group MyTravel which soared 30 per cent after announcing plans to merge with German rival Thomas Cook.... Gold prices higher LONDON, Feb 12: Gold jumped to its highest in seven months on Monday and is now targeting the psychological $700 level as geo-political worries and firmer oil prices attracted investors back to the market....

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