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July 31, 2007 Tuesday Rajab 15, 1428 Pakistan to become world’s number two: Use of CNG in vehicles KARACHI, July 30: Pakistan is likely to outclass Brazil and Argentina in population of CNG vehicles and may emerge world’s number two in August this year by surpassing Argentina in number of CNG vehicles.... Setting up of venture capital fund reviewed ISLAMABAD, July 30: Prime Minister Shaukat Aziz has urged Pakistani investors to establish a venture capital fund for local information technology industry to promote an innovative and knowledge-based economy in the country....   New textile policy to link rebates with targets KARACHI, July 30: Textile tycoons in Karachi, Lahore and Rawalpindi wait anxiously for the much-talked about long-term textile policy as abrupt political developments and bomb blasts delay the presentation of a draft before the prime minister by Textile Minister Mushtaq Cheema.... Economy adds 730,000 new jobs ISLAMABAD, July 30: The government has claimed to have created 730,000 new jobs during the July-December period of 2006-07. The ministry of finance in a report released here on Monday said the number of employed people rose to 48.09... Stocks stay flat amid cautious trading KARACHI, July 30: Trading on the stock market on Monday resumed on a cautious note as investors could not precisely decide how to react to Musharraf-Benazir Dubai meeting amid conflicting reports about the deal or no deal and mostly played safe.... Exports of rice, carpet, sports goods drop by 20pc ISLAMABAD, July 30: Exports of traditional products — rice, carpets, sports, surgical, leather, and footwear have recorded more than 20 per cent decline during the year 2006-07 over the last year.... Import of vehicles declines ISLAMABAD, July 30: Import of completely knocked-down (CKD) and semi-knocked-down (SKD) cars recorded a decline of 24.31 per cent during 2006-07 over last year. The CBR statistics showed that CKD and SKD vehicles worth $603.346... Oil prices slip on profit selling LONDON, July 30: World oil prices dipped on Monday as traders cashed in profits after New York crude had surged close to a record close before the weekend, traders said.... Sindh revises pay scales, freezes relief allowances KARACHI, July 30: The Sindh finance ministry has frozen four relief allowances of government employees and abolished the same for new-comers joining the government service from July 1.... BD exports rise DHAKA, July 30: Bangladesh''s exports rose by nearly 15.7 per cent to a record $12.18 billion in the year ended June despite months of political and labour unrest, officials said Monday.... Action against energy firms BRUSSELS, July 30: The EU''s top regulator on Monday began formal antitrust proceedings against German energy group E.ON and French gas company Gaz de France for their suspected breach of restrictive practice rules.... Drilling of exploratory wells in Khairpur ISLAMABAD, July 30: The Petroleum Exploration Limited (PEL) will drill 16 exploratory wells in Kandra Block in Khairpur district in the next three years. The PEL has completed 350 kms of... Import bill of eatables shrinks ISLAMABAD, July 30: The import bill of eatables recorded a marginal decline of 3.98 per cent to $2.711 billion in 2006-07 as against $2.824 billion the last year.... Japan’s industrial output TOKYO, July 30: Japan''s industrial output grew 1.2 per cent in June, the first increase in four months as factories stepped up output after a recent soft patch, official data showed on Monday.... Lint prices steady amid slow demand KARACHI, July 30: Cotton prices on Monday remained stable but slightly below the previous levels as leading spinner groups apparently took a breather followed by reports of steady arrivals of phutti into the ginneries.... Russneft chief resigns after ‘persecution’ MOSCOW, July 30: The billionaire chief executive of Russian oil major Russneft announced on Monday that he was leaving the company and selling his stake following “unprecedented persecution” by the authorities.... French unemployment falls PARIS, July 30: French unemployment decreased to 8 per cent of the workforce in June, preliminary figures released on Monday by the economy, finance and unemployment ministry showed.... Yen higher, pressure rises on pound LONDON, July 30: The yen remained firm against high-yielding currencies on Monday as investors opted out of risky assets, while the pound suffered from rising expectations that British interest rates might not rise any further.... Indian demand for planes revised up NEW DELHI, July 30: US aerospace giant Boeing on Monday revised up its estimate of the commercial aircraft India would need in the next two decades to 911 from 856, but added demand would be far below China’s.... ‘US-China talks not to erase trade tensions’ BEIJING, July 30: US Treasury Secretary Henry Paulson said on Monday that it was “unrealistic” to expect his talks with Chinese leaders would erase trade tensions between the two nations.... Air France, Delta in partnership talks PARIS, July 30: Air France is pursuing joint-venture talks with US partner Delta Air Lines but has yet to finalise a deal described by a French newspaper as imminent, an airline spokeswoman said on Monday.... Rising bad debts hit HSBC profit LONDON, July 30: Global banking giant HSBC Holdings on Monday revealed a massive jump in bad debts, mainly due to a weak US housing sector, that overshadowed record high profits during the first half of 2007.... Karachi Port operations KARACHI, July 30: Four vessels carrying containers and to load cement are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was... Port Qasim KARACHI, July 30: Three ships carrying containers and chemicals were accommodated berths at QICT and MPT during the last 24 hours, said a PQA press release on Monday.... Unicredit bank MILAN, July 30: Italian banks Unicredit and Capitalia on Monday officially created the eurozone’s largest bank through the approval of their friendly merger, Italian media reported.... Tariff anomaly ISLAMABAD, July 30: The National Tariff Commission has postponed the public hearing for removing of tariff anomaly pertaining to farm milk chillers. An official announcement issued here on Monday said that... Asian stocks close mixed HONG KONG, July 30: Asian stocks closed mixed on Monday but were off early lows as investors focused on the region''s sound economic fundamentals rather than last week''s heavy, Wall Street-led losses, dealers said.... Malaysian palm oil climbs KUALA LUMPUR, July 30: Malaysian crude palm oil futures rose more than 2 per cent on Monday, tracking an increase in rival soybean oil prices and supported by a weakening ringgit currency.... European stocks lower LONDON, July 30: Europe''s main stock markets fell further on Monday following last week''s tumble and amid takeover activity for the banking and chemicals sectors straddling London and Amsterdam.... Poultry rates KARACHI, July 30: The following are Tuesday’s poultry market rates:...

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