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May 24, 2007 Thursday Jamadi-ul-Awwal 07, 1428 Monetary policy fails to contain inflation KARACHI, May 23: All monetary indicators surpassed the annual target in just ten months leaving inflationary pressure to mount on the economy and dilute the effectiveness of the tight monetary policy.... FPCCI issues final list of amendments: Trade Organisations Ord ISLAMABAD, May 23: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has issued a final list of amendments to be incorporated in the Trade Organisations Ordinance (TOO) 2006 and trade rules 2007....   High prices mar activity in property market: Investors shifting to Dubai KARACHI, May 23: Buying and selling activities in the property market have been laggard for the last two years as market players blame the cause of inactivity in real estate to meteoric rise in prices of plots and bungalows.... Ministry criticises textile exporters’ performance: Highest incentives in the region ISLAMABAD, May 23: Pakistani exporters are getting highest ever cash incentives during the current regime in the form of low interest rates on short-term and long-term borrowing, besides cash subsidies, says an official report.... Stocks broaden overnight rally KARACHI, May 23: Stocks on Wednesday extended the overnight run-up as investors covered positions on selected counters under the lead of leading bank, cement and oil shares amid an actively traded session.... Oil prices rise on weak US stocks LONDON, May 23: World oil prices rose on Wednesday, with Brent crude back above $70 a barrel, after a US government report showed American reserves of motor fuel were weak heading into the peak demand season.... Swiss firms to invest in Pakistan KARACHI, May 23: Consul-General of Switzerland Martin Bienz has said that most of Swiss companies operating in Pakistan have planned to make new investment to further expand their business activities.... US, China agree to remove trade barriers WASHINGTON, May 23: The United States and China agreed on Wednesday to remove some barriers in financial services and the energy, environment and civil aviation sectors, US Treasury Secretary Henry Paulson said at the end of high-level economic talks here.... Yen remains weak LONDON, May 23: The yen remained weak against major currencies on Wednesday as risk-hungry investors continued to use the Japanese currency as a vehicle for so-called carry trades, dealers said.... T-bills auction KARACHI, May 23: The State Bank kept the cut-off yield on benchmark six-month treasury bills unchanged at the auction held here on Wednesday. However, the SBP slightly raised the cut-off yield on 12-month treasury bills to 9.1119... WTO asks India to deepen reforms GENEVA, May 23: India must carry out further reforms in agriculture, and open up country''s maritime transport and energy sector to competition if it is to sustain its “impressive” economic growth, the World Trade Organisation said on Wednesday.... Cotton market lacks buying activity KARACHI, May 23: Cotton market on Wednesday lacked normal trading interest as spinners and mills again kept to the sidelines apparently awaiting fresh developments on the import front.... Single Gulf currency by 2010 unlikely KUWAIT CITY, May 23: Regional powerhouse Saudi Arabia warned on Wednesday that time was running out for the planned launch of a single Gulf currency in 2010, after Oman said it... EU lawmakers back rules for low roaming rates STRASBOURG, May 23: European tourists and business people should see lower mobile phone bills in coming months after EU lawmakers backed on Wednesday rules slashing the cost of cross-border calls by up to 70 per cent.... Karachi Port operations KARACHI, May 23: Five ships carrying containers and DAP fertiliser are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, May 23: Brisk berthing activity was witnessed at the port where five ships carrying containers, general cargo, edible oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Tainted toothpaste BEIJING, May 23: China said on Wednesday it was investigating reports that tainted toothpaste has been exported to Panama and the Dominican Republic, as one of the firms under scrutiny denied any wrongdoing.... TDAP seminar ISLAMABAD, May 23: The Trade Development Authority of Pakistan (TDAP) is launching initiatives for increasing exports to African countries, in collaboration with Engineering Development Board (EDB).... Cellphones in customs house banned DHAKA, May 23: Bangladesh authorities have banned use of mobile phones in the nation''s main customs house to stop traders offering bribes to government officials, an official said on Wednesday.... Quality control review KARACHI, May 23: The code of corporate governance issued by the Securities and Exchange Commission of Pakistan is required from the auditors of a listed company to obtain a satisfactory quality... Asian stocks close up HONG KONG, May 23: Asian stocks closed mostly higher on Wednesday with improved earnings outlooks and the another record finish in China again underpinning gains across the region.... European shares higher LONDON, May 23: Europe''s main stock markets called up gains on Wednesday amid merger and acquisition chatter in the telecommunications sector, dealers said. In late morning trade, London''s FTSE 100 index of leading shares added 0.41... Palm oil prices KUALA LUMPUR, May 23: Malaysian crude palm futures ended higher on Wednesday, just short of a near-nine-year high due to tight supplies and hopes of steady growth in exports.... Ratings KARACHI, May 23: The JCR-VIS Credit Rating Company Limited has assigned a medium-to-long-term entity rating of AA - (double A minus) and short-term rating of A-1 (A-One) to Pakarab Fertilisers (Pvt) Ltd....

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