January 6, 2006	Friday	Zilhaj 5, 1426

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SBP fails to defeat monster of inflation KARACHI, Jan 5: Three noted economists, including one retired bureaucrat singled out mounting inflation to uncomfortable proportions as one of the major disturbing factor that has emerged in Pakistan’s economy for...		Sugar mills post bitter results KARACHI, Jan 5: Majority of sugar mills have thus far posted bitter results for the year ended September 31, 2005. It is the reporting season for sugar mills and the financial figures are trickling in....
10-15pc taint-free cotton projected ISLAMABAD, Jan 5: Textile Industry Minister Mushtaq Ali Cheema said on Thursday that the government had projected a target of 10-15 per cent contamination-free cotton to be achieved during the current cotton season....		Indian firm to export 0.08m tons of sugar NEW DELHI, Jan 5: An Indian firm said on Thursday it plans to export about 80,000 tons of white sugar by September to meet government obligations for raw sugar importers....
Bulls tighten grip, cross 9,900-point barrier KARACHI, Jan 5: The KSE 100-share index on Thursday steadily rose to breach through another barrier for the third session in a row as the new year covering purchases manifested themselves in a big way on cement and bank sectors....		Prices remain stable ahead of lower crop estimates KARACHI, Jan 5: Cotton prices on Thursday remained stable around the previous levels as reports of a lower crop encouraged ginners to hold on to their unsold positions to sell lint at a better price....
PTCL to be handed over in 5-6 weeks ISLAMABAD, Jan 5: Information Technology Minister Awais Ahmad Khan Leghari on Thursday said the management of the Pakistan Telecommunication Company Limited (PTCL) would be handed over to Etisalat within next five to six weeks....		‘Wheat growers to get due return’ LAHORE, Jan 5: Agriculture Minister Sikandar Hayat Khan Bosan has said the government will increase wheat procurement target for the next harvesting season to enable the growers to get due return of their produce....
PEL given exploration licences ISLAMABAD, Jan 5: The government on Thursday granted two petroleum exploration licences to Petroleum Exploration (Pvt) Limited (PEL) in Badin, Thatta and Hyderabad districts of Sindh....		Oil rebounds despite US stocks increase NEW YORK, Jan 5: US crude oil futures rebounded by midday on Thursday despite government data showing a larger-than-expected increase in domestic distillate and gasoline supplies....
TCP sells sugar KARACHI, Jan 5: The Trading Corporation of Pakistan has sold 31,000 tons of imported sugar to local traders at a price of Rs26,000 per ton....		Opec exports LONDON, Jan 5: Opec oil to be shipped in the four weeks to January 21 rose 240,000 barrels per day (bpd) in a surprise counter-seasonal build as westbound exports recovered, a leading oil shipping analyst said on Thursday....
Retail sales dip FRANKFURT, Jan 5: Retail sales in Germany fell unexpectedly in November, underlining the ongoing fragility of consumer sentiment in the eurozone’s biggest economy, data showed on Thursday....		US jobless claims hit 5-year low NEW YORK, Jan 5: The number of US workers seeking new jobless benefits fell last week to its lowest in over five years, the government reported on Thursday and a private...
EU raises wheat export subsidy PARIS, Jan 5: The European Union on Thursday raised the level of its wheat export subsidies to a maximum of 8.49 euros per ton from 8.00...		Iran’s money supply growing TEHRAN, Jan 5: Iran’s money supply is growing too fast, impeding efforts to curb inflation and threatening future economic growth, Central Bank Governor Ebrahim Sheibani was quoted as saying on Thursday....
US says Russia still good for energy investment WASHINGTON, Jan 5: US energy companies should not be discouraged from investing in Russia in response to Moscow cutting off natural gas supplies to Ukraine, US Energy Secretary Sam Bodman said on Thursday....		Boeing tops 1,000 plane orders SEATTLE, Jan 5: US aviation giant Boeing Co. said on Thursday it received a record 1,002 net commercial plane orders in 2005, putting it on course to regain the top spot from its European arch-rival Airbus....
French consumer confidence improves PARIS, Jan 5: French household confidence improved slightly in December to an indexed minus-30 points, from minus-33 in November, a composite indicator by the national statistics institute INSEE showed on Thursday....		Indian rupee gains MUMBAI, Jan 5: The rupee rallied to a three-month closing high on Thursday, lifted by strong foreign fund inflows and the dollar’s broad losses against other Asian currencies....
Rating withdrawn LAHORE, Jan 5: The Pakistan Credit Rating Agency (Pacra) on Thursday announced withdrawal of its long-term credit rating of “BBB” (triple B) and short-term rating of “A3” (single A three) for Saudi Pak Commercial Bank Limited....		Gold holds near recent highs LONDON, Jan 5: Gold trimmed losses in Europe on Thursday and held closer to last month’s near-25-year highs, with positive fundamentals and macro-economic factors seen lifting the metal....
European stock markets steady LONDON, Jan 5: European stock markets steadied on Thursday, pausing for breath after the strong start to 2006 that has seen indices post fresh multi-year highs....		Asian stocks extend gains HONG KONG, Jan 5: Asian stocks put in another strong performance on Thursday, mostly extending gains to fresh multi-year highs on growing expectations the US interest rate cycle is peaking out, dealers said....
Port Qasim KARACHI, Jan 5: Six ships to load and unload containers, rice, chemicals and coke arrived at the outer anchorage during the last 24 hours, said a PQA press release on Thursday....		Karachi Port operations KARACHI, Jan 5: Eight ships carrying urea, coal, steel billets and containers are due to arrive at the outer anchorage on Friday, according to KPT sources....