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February 25, 2007 Sunday Safar 7, 1428 Hubco to set up new 210mw power plant KARACHI, Feb 24: The Hub Power Company Limited (Hubco) last week forwarded to the Private Power and Infrastructure Board (PPIB) the pre-feasibility documents for setting up a 210MW new power plant.... Rice prices surge Rs10 a kg KARACHI, Feb 24: All varieties of rice in the domestic market have surged by an average Rs10 per kg because of high demand from the exporting side.... New banknote of Rs1,000 launched KARACHI, Feb 24: The State Bank on Saturday introduced newly-designed Rs1,000 banknote which was sixth in series as part of its ongoing campaign to end the menace of counterfeiting.... CBR plans 18pc annual growth in tax collection ISLAMABAD, Feb 24: The Central Board of Revenue (CBR) has projected an annual growth of around 18 per cent in revenue realisation for reaching the proposed target of Rs4.3... Crude prices firm up on Opec output cut RIYADH, Feb 24: Saudi Oil Minister Ali Naimi believes the crude market is now better balanced and if prices are maintained around the current levels, the Organisation of Petroleum Exporting Countries... Tax potential of different sectors being evaluated LAHORE, Feb 24: The Central Board of Revenue (CBR) is working on different strategies to pursue traders to register themselves.... Safta council to discuss Indian request: Trade on negative list ISLAMABAD, Feb 24: Saarc Committee of Experts will formally take up the New Delhi’s request to review Pakistan’s decision of not offering India trade on negative list under the South Asia Free Trade Area (Safta) agreement.... Rs5 billion bridge over River Indus KARACHI, Feb 24: Sometimes next week one of the top government functionaries is performing a groundbreaking ceremony of a Rs5 billion bridge construction project on River Indus that will connect Khairpur with Sukkur and reduce the distance by 59 kilometres.... Minfal for new strategy on fish exports KARACHI, Feb 24: Secretary Ministry of Food, Agriculture and Livestock (Minfal) Ismail Qureshi has said that despite all the efforts to satisfy the EU inspectors during their January visit to fish... Etisalat may bid for Kuwait telecom DUBAI, Feb 24: Emirates Telecommunications Corp. Etisalat said on Saturday it would decide within a week whether to bid for a majority stake in Kuwait''s National Mobile Telecommunications Co.... Ahmadinejad vows to push privatisation TEHRAN, Feb 24: President Mahmoud Ahmadinejad on Saturday pledged to drive ahead privatisation in Iran following criticism by the supreme leader of the sluggish opening-up of its economy to the private sector.... Free health insurance for Saudi nationals RIYADH, Feb 24: Saudi Arabia plans to provide free health insurance coverage to its 12 million plus citizens.... Prices mar trading on cotton market KARACHI, Feb 24: Cotton market on Saturday showed steady trend but physical business failed to pick up as price ideas of both the seller and the buyer were poles apart, analysts said.... CFS rates fall KARACHI, Feb 24: The CFS rates on the Karachi Stock Exchange last week suffered a fall of 114 basis points at 12.65 per cent as compared to previous 13.79... Workers in S. Arabia remit $14bn in 2006 RIYADH, Feb 24: Expatriate workers in Saudi Arabia sent home some $14 billion in 2006, ranking the oil-rich kingdom second only to the US, according to the Arab Monetary Fund (AMF).... Investment in nickel plant MANILA, Feb 24: Australian resources giant BHP Billiton Ltd may invest $800m to $1.5bn in a nickel processing plant in the southern Philippines, the Environment and Natural Resources Department said on Saturday.... Indian tea exports rise after 9 years GUWAHATI, Feb 24: India''s tea producers are reporting record production and a jump in exports after a nine-year slump caused by weak domestic demand and increased international competition, an industry body said on Saturday.... Nissan to build plant in India TOKYO, Feb 24: Japanese automaker Nissan Motor plans to build a car plant in the Indian port city of Chennai with its French partner Renault SA and local firm Mahindra and Mahindra Ltd, a news report said Saturday.... $3bn petro unit NEW DELHI, Feb 24: India’s largest conglomerate Reliance Industries said on Saturday it will build a $3bn petrochemical factory in western Gujarat state.... Fed’s Yellen still sees inflation risks SACRAMENTO (California), Feb 24: San Francisco Federal Reserve Bank President Janet Yellen said on Friday she still sees upside risks to inflation but that US interest rates were now “well positioned” to bring inflation down.... India should not let rupee float freely AGRA (India), Feb 24: India should not allow its rupee currency to float freely and must retain some controls to avert any major crisis due to capital flight, a member of... Dow loses as investors brace for inflation NEW YORK, Feb 24: Leading blue-chip shares lost ground in the holiday-shortened week to Friday, partly due to inflation concerns, with investors bracing for the release of fresh inflation readings in the week ahead.... Euro up against dollar NEW YORK, Feb 24: The euro rose against the dollar on Friday as strong data pointed to higher interest rates in the eurozone, while the struggling Japanese yen perked up a touch, traders said.... US exporters seek to win rice sales to Europe CHICAGO, Feb 24: Exporters hope that new measures put in place after last year''s discovery of biotech rice in US cargoes will win back the multimillion-dollar European market.... ECB’s Wellink criticises ABN AMRO break-up call AMSTERDAM, Feb 24: European Central Bank Governing Council member Nout Wellink said hedge fund TCI was going too far in calling for a break-up of Dutch bank ABN AMRO, Dutch daily NRC Handelsblad reported on Saturday.... Oil prices surge as gold and silver rediscover shine LONDON, Feb 24: World oil prices surged this week, as global supply concerns propelled them above 61 dollars for the first time this year. Gold and silver hit their highest levels for nine months in the wake of oil''s rally.... NY cotton rallies on strong exports NEW YORK, Feb 24: US cotton futures retained their bullish edge Friday, rising almost 1 per cent, as strong weekly export sales underpinned the market.... Japan, Chile to sign free trade pact TOKYO, Feb 24: Japan is expected to sign a free trade deal with Chile when the South American country''s foreign minister visits next month, a news report said Saturday.... Port Qasim KARACHI, Feb 24: slow shipping activity was witnessed at the port where Maersk Arkansas carrying containers was accommodated on berth at QICT during the last 24 hours, says a PQA report.... Karachi Port operations KARACHI, Feb 24: Seven ships including a car carrier, with 145 units are due to arrive at the outer anchorage during the next two days, according to KPT sources....

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