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February 15, 2007 Thursday Muharram 26, 1428 Strategy to expand micro credit approved ISLAMABAD, Feb 14: Prime Minister Shaukat Aziz on Wednesday approved the strategy to expand microfinance outreach from the present one million to three million households by 2010.... Gold prices up Rs1,500 in 15 days on global issues KARACHI, Feb 14: Gold prices in the local market continued to move higher on Wednesday amid fears of higher oil prices, deepening of crisis over Iranian issue and other flash-points around the world.... Hubco, UBL, Askari Bank announce results KARACHI, Feb 14: The corporate results season now is in full bloom, major companies are announcing their financial figures. On Wednesday, Hub Power Company Limited (Hubco), Askari Bank Limited (ABL) and United Bank Limited (UBL) came up with their results.... Redrafting of company law begins ISLAMABAD, Feb 14: The Corporate Laws Review Commission (CLRC), which has been established by the Securities and Exchange Commission of Pakistan (SECP) to carry out a review of the Companies Ordinance, 1984, has commenced the exercise of redrafting the law.... Profit-selling sets in on stock market KARACHI, Feb 14: Stocks on Wednesday again reacted from the overnight higher levels on active profit-selling as worries about the higher leveraged positions dominated the trading throughout the session.... Abad defers decision on cement purchase KARACHI, Feb 14: Builders and contractors have decided to defer their decision of suspending cement purchase from February 15-22 till the outcome of the Feb 20 meeting between contractors, builders and cement makers on the price issue.... Is KSE MD on his way out? KARACHI, Feb 14: A meeting of the board of directors of Karachi Stock Exchange is scheduled to be held on Thursday, where an unspecified item on the agenda is understood to... Industries directorate seeking new role KARACHI, Feb 14: The Sindh directorate of industries seeks a new role for promotion of industries in the province as all its functions have gradually been withdrawn with the advent of deregulation and free market economy.... SNGPL cuts supplies to 3 power stations LAHORE, Feb 14: Sui Northern Gas Pipeline Company Limited on Wednesday cut supplies to three power stations and reduced to fourth one to save an additional 30 mmcfd.... Banks invest Rs48.4bn in T-bills KARACHI, Feb 14: The auction of treasury bills on Wednesday attracted massive response from the banks, but the State Bank kept the cut-off yields on three-, six- and 12-month papers unchanged.... Dredging of PDWCP KARACHI, Feb 14: The Karachi Port is going to start the dredging works of the basin and approach channels of the Pakistan Deep Water Container Port (PDWCP), which is being developed... 30-Share Index recomposed KARACHI, Feb 14: The Karachi Stock Exchange announced re-composition of the KSE-30 Index on Wednesday. The review period is from July 2006 to December 2006.... Tax relief for textile industry ISLAMABAD, Feb 14: Pakistan is considering tax breaks for its textile makers in an attempt to cut costs for the industry, a mainstay of the country''s exports that is struggling with stiff competition.... Conversion rates KARACHI: The following are February 15 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates and special US dollar bonds.... US economy gaining momentum: Fed chief WASHINGTON, Feb 14: The US economy is gaining momentum after a soft patch induced by a housing slump, but inflation remains a “predominant” concern, Federal Reserve chairman Ben Bernanke told Congress on Wednesday.... Cotton market shows steady trend KARACHI, Feb 14: Cotton market on Wednesday maintained a steady trend as prices remained stable around the previous levels amid active mill demand.... Spain pledges support on anti-dumping issue LAHORE, Feb 14: Ambassador of Spain Jose Maria Robles Fraga has said that his country would extend all-out support to Pakistan for lifting of anti-dumping duty on bed linen by the EU.... Service sector exports down in December ISLAMABAD, Feb 14: The services sector export declined by 55.61 per cent in December 2006 over the same month of the last year, Federal Bureau of Statistics (FBS) said on Tuesday.... Restructuring of TCP planned KARACHI, Feb 14: The Trading Corporation of Pakistan (TCP) has decided to undertake organisational restructuring to improve its efficiency by fully utilising the workforce and saving cost of operations.... European stocks firm LONDON, Feb 14: European stock exchanges rose on Wednesday, lifted by strong gains to mining shares which benefited from news of a possible takeover of US aluminium giant Alcoa, dealer said.... Port Qasim KARACHI, Feb 14: Low shipping activity was witnessed at the port where one ship carrying chemicals was allotted berth at Engro Vopak terminal during the last 24 hours, says a PQA press release.... Karachi Port operations KARACHI, Feb 14: Six ships carrying containers and to load ethanol are due to arrive at the outer anchorage on Thursday, according to KPT sources....

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