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February 23, 2007 Friday Safar 5, 1428 Sale of steel bars declines sharply KARACHI, Feb 22: Lifting of steel bars (sariya) by builders, contractors and general public fell sharply during the last fortnight owing to Rs8,000 per ton jump in its price to Rs44,000 against Rs36,000 three months back.... Food prices dominate inflation basket: State Bank report KARACHI, Feb 22: The State Bank said on Thursday the food inflation still dominated the main inflation basket and its contribution in January, 2007 was 53.8... Power demand up by 9.5pc ISLAMABAD, Feb 22: Prime Minister Shaukat Aziz said on Thursday the demand in power sector was growing by 9.5 per cent annually mainly due to high growth achieved by the country... PTCL profit falls 22.71 per cent in first half KARACHI, Feb 22: Pakistan Telecommunication Co. Ltd. (PTCL) reported a sharp fall in half-year net profit on Thursday as revenue from international calls fell, but analysts forecast a stronger second half.... OGDCL issues share certificates KARACHI, Feb 22: Share certificates to successful applicants in the secondary offer of the OGDCL have been delivered to 12 bankers to the issue, a senior official in the Privatisation Commission (PC) said on Thursday in reply to a query.... Rupee stays firm against dollar KARACHI, Feb 22: The rupee firmed versus the dollar on Thursday, thanks to healthy foreign exchange inflows, which are likely to keep the local unit steady in coming weeks, dealers said.... SBP policy helped in reducing inflation ISLAMABAD, Feb 22: Prime Minister Shaukat Aziz has said that inflation has started to gradually reduce through effective use of monetary policy by the State Bank besides smooth availability of supplies of essential commodities in the market.... PSO profit down despite higher sales KARACHI, Feb 22: The board of management of the Pakistan State Oil (PSO) on Thursday announced a first interim cash dividend of Rs6 per share, translating into a cash payout of Rs1,029 million to its shareholders.... Auto policy to attract Rs250bn investment KARACHI, Feb 22: Federal Minister for Industries and Production Jahangir Khan Tareen said on Thursday that the auto policy will bring an investment of Rs250bn in the next five years.... Stocks gain 22 points in mixed trading KARACHI, Feb 22: Board meetings of some of the leading companies and banks dominated the trading on the stock market on Thursday as investors played on both sides of the fence... Cotton market lacks trading interest KARACHI, Feb 22: Trading on the cotton market on Thursday was relatively slow as both spinners and ginners held on to their positions over the future price outlook.... Qatar, Shell launch $18 billion liquid gas project RAS LAFFAN, Feb 22: Qatar on Thursday launched a mega gas-to-liquids (GTL) project in partnership with Royal Dutch/Shell that will cost up to $18 billion, 10 billion of which have already been earmarked.... US plans risk-based meat inspection WASHINGTON, Feb 22: In a move derided by meat packers and consumers, federal meat inspectors will start conducting "risk-based" inspections at 254 processing plants in April, under a plan detailed by the Agriculture Department on Thursday.... German insurance posts $9.2bn profit MUNICH, Feb 22: German insurance giant Allianz reported record net profit of 7.021 billion euros ($9.2 billion) in 2006, well above target, on Thursday and said it expected further growth.... Irish inflation up 5.2pc DUBLIN, Feb 22: Irish 12-month inflation surged to 5.2 per cent in January, marking the highest rate since June 2001, official data showed on Thursday.... Trademark deal NEW YORK, Feb 22: Apple’s all-in-one cellphone, music player and digital organiser set the tech world buzzing anew on Thursday after the iPod maker agreed to joint custody of the “iPhone” trademark with Cisco Systems.... Eurozone’s new industrial orders up BRUSSELS, Feb 22: Eurozone factories saw demand rise in December as new industrial orders rose to the highest level in 10 years, figures by the Eurostat data agency showed on Thursday.... Nigerian oil reserves up 35bn barrels ABUJA, Feb 22: Nigerian oil minister Edmund Daukoru said that exploration had raised the country''s oil reserves to about 35 billion barrels from five billion barrels in 1999, and that production capacity was rising.... Bio-diesel joint venture in Brazil TOKYO, Feb 22: Japanese trading house Marubeni Corp. said on Thursday it will invest $40 million in a joint venture in Brazil to produce and market a soybean-based diesel fuel.... Ratings KARACHI, Feb 22: JCR-VIS Credit Rating Co Ltd (JCR-VIS) has reaffirmed the medium to long-term entity rating of SME Bank Limited at BBB with a ‘stable'' outlook.... European stocks up LONDON, Feb 22: European stock markets rose on Thursday as investors seized on a flurry of bullish earnings reports, and after Tokyo hit a near seven-year high, dealers said.... Malaysian palm oil higher BANGKOK, Feb 22 : Malaysian crude palm oil futures ended higher on Thursday, backed by firm sentiment in other commodities, including gold and oil, as investors returned from the Lunar New Year holiday, traders said.... Port Qasim KARACHI, Feb 22: Two ships to load and offload containers and crude oil were allotted berths at QICT and Fotco Terminal during the last 24 hours, said a PQA press release on Thursday.... Karachi Port operations KARACHI, Feb 22: Six ships carrying containers and to load rice, petrol and ethanol are expected to arrive at the outer anchorage on Friday, according to KPT sources....

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