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May 06, 2007 Sunday Rabi-us-Sani 18, 1428 KSE told to justify raise in CFS limit KARACHI, May 5: The Securities and Exchange Commission of Pakistan (SECP) has asked the board of directors of the Karachi Stock Exchange (KSE) to give convincing reasons why its request for... Economy likely to meet 7pc target KYOTO, May 5: Pakistan’s economy is likely to meet the government target of 7.0 per cent growth in the fiscal year ending June 30. “There are all indications that we are... Shift from low to high value crops key to rural prosperity KARACHI, May 5: Pakistan, a predominantly agrarian country, is still struggling to achieve food autarky and provide a decent living to its rural population. A recent study suggests changes in the... Indian fabrics flood local market KARACHI, May 5: Despite the fact that the import of Indian origin fabrics is not allowed but still a huge quantity is making its way into the local market.... Prices of 16 essential itemsincrease ISLAMABAD, May 5: Weekly inflation measured through the Sensitive Price Index (SPI) increased by 0.03 per cent during the week ending May 4, over the previous week, according to the weekly... 41 textile items for ROZs identified ISLAMABAD, May 5: Pakistan has identified 41 hot-selling textile and clothing items and 30 non-textile items to be manufactured in the proposed reconstruction opportunity zones (ROZs) for export at zero custom duty to the United States.... $200bn bids offered in global acquisition activity LONDON, May 5: In a single biggest day of frenzied activity for mergers and acquisitions across the globe Friday saw takeover bids worth a record $200 billion (£100.3... Gazprom keen on Iran-India gas pipeline TEHRAN, May 5: Gazprom is interested in taking part in building and managing a proposed $7 billion gas pipeline from Iran to India via Pakistan, an official of the Russian energy giant was quoted as saying on Saturday.... FTA with Malaysia ISLAMABAD, May 5: Pakistan and Malaysia will start negotiations on Monday to conclude the proposed free trade agreement (FTA) between the two countries, which is expected to be operational from July 1.... Kuwaiti help in petroleum sector sought ISLAMABAD, May 5: The Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon, called on Kuwaiti minister for energy Shaikh A.H. Al-Jarrah Al-Sabah in Riyadh, Saudi Arabia, and discussed ways and means to promote oil and gas cooperation.... Energy policy FRANKFURT, May 5: Chief Executive Wulf Bernotat of E.ON, Germany''s largest energy provider, criticised the government for what he said was an unfair energy policy in an interview with the German newspaper Welt am Sonntag.... Generating employment key to Iraq economic plan BAGHDAD, May 5: The UN-brokered economic compact signed this week with great fanfare aims to create a liberal free market in Iraq, but US officials admit that for now this approach... Cotton market lacks normal trading interest KARACHI, May 5: Cotton market on Saturday lacked normal trading interest as spinners and mills kept to the sidelines in an apparent effort to forestall increase in prices in the backdrop of latest unsold figures.... Qantas takeover bid comes back from the brink SYDNEY, May 5: A multi-billion dollar takeover offer for Qantas was dramatically resurrected on Saturday just hours after the bidders conceded defeat, although analysts said regulators may yet quash the late reprieve.... ADB under pressure not to abandon Asia’s poorest KYOTO, May 5: The Asian Development Bank came under pressure on Saturday not to abandon the region’s poorest as it considers a major overhaul in response to warnings that it risks becoming irrelevant.... Karachi Port operations KARACHI, May 5: Three ships carrying containers are expected to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was modest where four ships... Takeover accords CARACAS, May 5: Venezuelan state oil company PDVSA has signed accords with Eni of Italy to cede control of its stake in two oil fields, making ConocoPhillips the only company holding out on an accord Venezuela calls crucial to future business.... CFS rates show fractional rise KARACHI, May 5: The CFS rates on the Karachi Stock Exchange last week showed a fractional rise of 10 basis points at 11.85 per cent as compared to 11.75... Miners end mass strike LIMA, May 4: Tens of thousands of Peruvian miners on Friday ended a nationwide strike for better wages after reaching a deal with the government, unions and the government said.... US refiners NEW YORK, May 5: US refiners’ glittering profits are expected to jump this year as robust demand growth from motorists and recurring snags at aging plants push fuel prices near record territory, analysts said.... Metals hit record highs, oil easier LONDON, May 5: Nickel and lead prices struck record high points this week but oil futures fell as traders tracked tight supplies of world commodities.... Asian FMs agree to pool forex reserves KYOTO, May 5: Asian finance ministers agreed on Saturday to pool their foreign reserves to help avoid a repeat of the financial crisis that devastated the region a decade ago.... US leads in IPOs, still needs reform NEW YORK, May 5: NYSE Euronext Chief Executive John Thain on Friday said New York remains the world’s leading home of initial public offerings, but he warned US regulation and legal costs remain a deterrent to foreign companies.... US stocks seen higher on FOMC meeting NEW YORK, May 5: With earnings season winding down, investors will look ahead to next week’s meeting of Federal Reserve policy-makers for any shift in their interest rate stance that could trip up a rally in US stocks.... Microsoft eager to acquire Yahoo LOS ANGELES, May 5: Microsoft Corp. has stepped up its pursuit of Yahoo Inc., seeking to create a united front against arch-rival Google Inc., two newspapers reported on Friday.... Naphtha tender NEW DELHI, May 5: India’s Oil and Natural Gas Corp. (ONGC) has issued a tender to sell 35,000 tons of naphtha for June 6-7 loading from the west coast port of Hazira, a tender document showed....

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