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March 06, 2007 Tuesday Safar 16, 1428 ABN Amro wins 93pc stakes in Prime Bank KARACHI, March 5: Another foreign Bank, ABN Amro has expanded its operations by acquiring controlling stakes in the Prime Bank, making the ABN Amro second largest foreign bank in Pakistan.... President calls for more investment to reduce poverty ISLAMABAD, March 5: President General Pervez Musharraf has urged overseas Pakistanis to invest more in the motherland to help reduce poverty and unemployment to defeat extremism on long-term basis.... Alcohol worth $100m exported in 2006 KARACHI, March 5: The country earned over $112 million on export of around 190,585 tons of alcohol during 2006-07. The value-addition in molasses through its conversion into alcohol has enabled exporters to earn eight to ten times more foreign exchange.... MCA to probe cement makers cartel ISLAMABAD, March 5: The government has got some initial clue which suggested that cement manufacturers have developed a cartel to increase the prices of the commodity every now and then without any valid reason.... CLN takes toll of 234 points on KSE KARACHI, March 5: Stocks on Monday resumed trading on an uncertain note as the maiden session under the Client Level Netting (CLN) regime witnessed a halt in bull market as leading... Urea prices cut by Rs7 a bag LAHORE, March 5: Fertiliser manufacturers on Monday announced a Rs7 cut in the price of urea for a 50kg bag from Feb 26, industry officials say.... SECP, KSE agree on certain modalities KARACHI, March 5: A joint meeting of the Securities Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (KSE) was held on Monday “to discuss various outstanding matters”, stated a joint press release issued late in the evening.... India agrees to hold talks on tariff barriers LAHORE, March 5: Federal Commerce Minister Humayun Akhtar Khan has said that Prime Minister Shauakt Aziz would raise the issue of lifting of tariff barriers with India under Safta during the... Oil prices plunge LONDON, March 5: World oil prices fell heavily on Monday as traders sought to limit their exposure to high-risk investments amid continued stock market uncertainty, dealers said.... Regulations for MFBs revised KARACHI, March 5: The State Bank on Monday introduced changes in prudential regulations to facilitate Micro Finance Banks (MFBs) in the wake of rising demand of small loans and increasing role of microfinancing.... Yields on PIBs slip KARACHI, March 5: As an indication of softening of prevailing tight monetary policy, the State Bank on Monday reduced the cut-off yields on all maturities of Pakistan Investment Bonds (PIBs).... Fall in phutti arrivals mars trading KARACHI, March 5: The trading activity on the cotton market on Monday resumed on a cautious note as reports of over 10 per cent fall in arrivals of phutti for the... Malaysia to sort out trade issues with US KUALA LUMPUR, March 5: Malaysia will finalise this week its stance on 58 outstanding issues that bogged down free trade talks with the US last month, the trade minister said on Monday.... Karachi Port operations KARACHI, March 5: Five ships carrying containers and to load rice, cement and naphtha are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, March 5: Brisk shipping activity was witnessed at the port where five ships to load, unload containers, wheat, furnace oil, chemicals and coal took berths at QICT, MPT, Fotco terminal,... Elected KARACHI, March 5: Munawwar H Shaikh and Shahab Ahmed have been elected president and general secretary, respectively, of the Income Tax Bar Association, Karachi.... Asian stocks tumble HONG KONG, March 5: Asian share prices posted heavy losses on Monday as players scaled down their exposure to risky investments after the recent global turmoil.... Gold hits 6-week low LONDON, March 5: Gold tumbled to its lowest in six weeks on Monday as the carnage on equity markets infected sentiment for the precious metal and investors sold to cover their losses, analysts said.... Palm oil prices KUALA LUMPUR, March 5: Malaysian crude palm oil futures closed around 1 per cent lower on Monday, dragged down by lower prices of US soyabean oil and crude oil.... Karachi market rates KARACHI, March 5: The following were Monday’s commodity market rates in rupees....

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