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June 21, 2007 Thursday Jamadi-us-Sani 05, 1428 Govt may freeze gas tariff until Dec 31 ISLAMABAD, June 20: The government is expected to freeze natural gas tariff until Dec 31, 2007, on the recommendations of the Oil and Gas Regulatory Authority (Ogra), it is learnt.... Economy may face mounting pressure: C/A gap, M2 growth KARACHI, June 20: The mounting inflationary pressure, widening current account deficit and very high monetary growth in the outgoing year may create serious problem for the government in the next fiscal year....   Investors anxiously await NIT results KARACHI, June 20: National Investment Trust (NIT) — the country’s largest mutual fund, with Rs78 billion under management -- has outperformed the stock market by seven per cent in the first... High freight charges restrict mango export ISLAMABAD, June 20: Pakistan has been able to export only 100,000 tons out of a total 1.5 million tons of mango produced in the country this year owing to technical barriers and high freight charges.... Oil, bank shares lead recovery on stock market KARACHI, June 20: The share market on Wednesday was back on the rails on active short-covering in oil and bank shares ahead of pre-bid meeting of Pakistan State Oil (PSO) and fixation of official bidding date.... Local car assembler increases price KARACHI, June 20: One of the leading Japanese car makers has increased the price of its various models by Rs23,000 to Rs80,000 for regular customers following imposition of five per cent... Apparel sector wants relief package KARACHI, June 20: The textile apparel sector has urged the government to immediately come out with a relief package to rescue the export-oriented industry from a total collapse.... Bidding for PSO likely next fiscal ISLAMABAD, June 20: The bidding for the sale of majority stakes and management control of the Pakistan State Oil (PSO) is likely to be held early next financial year on the request of competing consortiums.... AJK budget today MUZAFFARABAD, June 20: Azad Jammu and Kashmir''s budget for the fiscal year 2007-08 will be presented in the Legislative Assembly here on Thursday by Finance Minister Raja Nisar Ahmed Khan.... FED levied on all imports ISLAMABAD, June 20: The government on Wednesday decided that the special federal excise duty (FED) of one per cent replacing the special surcharge duty will be levied on all goods imported from July 1, 2007.... Oil prices fall LONDON, June 20: Oil prices fell heavily on Wednesday after the US government said that its energy stockpiles had risen strongly last week, offsetting concerns about a nationwide strike in crude producer Nigeria.... Pound stays firm LONDON, June 20: The pound stayed well above $1.99 on Wednesday and hit multi-year highs against the yen, consolidating its strength after minutes from the Bank of England''s last rate-setting meeting fuelled expectations for higher interest rates.... Cut in tax relief BEIJING, June 20: China is to slash tax incentives for thousands of exports ranging from toys to cement, but analysts said on Wednesday the move could hit consumers rather than puncture the ballooning trade surplus.... Dull trading on cotton market KARACHI, June 20: Trading on the cotton market on Wednesday was relatively slow as ginners were not inclined to lower their asking prices from their benchmark of Rs2,700 per maund.... US blocks Canadian complaint at WTO GENEVA, June 20: The United States on Wednesday blocked a complaint by Canada at the World Trade Organisation which claims that Washington uses “trade-distorting” farm subsidies on products, such as corn, trade sources said.... LDCs moot ANKARA, June 20: Leaders from the world''s least developed countries will meet in Istanbul next month to discuss ways of integrating with the global economy and improving the welfare of their people, a Turkish official said on Wednesday.... Karachi Port operations KARACHI, June 20: Three ships carrying DAP fertiliser, containers and to load molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, June 20: Three ships to load/offload containers, cement, and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Exporters’ database KARACHI, June 20: The Trade Development Authority of Pakistan (TDAP) has entered into an agreement with International Credit Information Limited for the development and maintenance of a database of Pakistani exporters, says a press release.... China to overhaul food safety rules BEIJING, June 20: China promised on Wednesday to overhaul its food safety rules, amid rising concerns abroad over the risks of consuming its produce. “The top priority for building a food... Rating LAHORE, June 20: The Pakistan Credit Rating Agency has maintained the long-term and short-term entity ratings of Pak-Libya Holding Company (Pvt) Limited at ''AA-'' (double A minus) and ''A1+'' (A-one plus) respectively.... Fund to help small firms SEOUL, June 20: South Korea''s government offered on Wednesday to set up a $1.08bn fund to help small and medium-sized firms with high technology. Finance Minister Kwon O-Kyu did not say when the $1.08... Asian stocks close mostly higher HONG KONG, June 20: Asian stocks closed mostly higher on Wednesday with investors continuing to consolidate after mild gains were notched-up on Wall Street overnight where inflation jitters are easing.... European stocks up LONDON, June 20: Europe’s main stock markets gained ground on Wednesday, supported partly by a strong mining sector, and following solid gains on Wall Street overnight and earlier in Asia.London... Palm oil drops KUALA LUMPUR, June 20: Malaysian crude palm oil futures ended 2.4 per cent lower on Wednesday, deepening losses as a sharp decline in exports and rising supplies weighed on the market.... PHDEB team ISLAMABAD, June 20: A delegation of Pakistan Horticulture Development and Export Board (PHDEB) would visit Poland in later part of the current calendar year to explore new market for kinno in East Europe....

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