January 19, 2006	Thursday	Zilhaj 18, 1426

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Amended NFC formula vindicates Punjab’s position KARACHI, Jan 18: A national resources distribution formula which was discarded way back in the year 2002 has been revived and enforced by President Pervez Musharraf in his National Finance Commission...		Arrivals of phutti fall by 15.27pc KARACHI, Jan 18: A steep fall in phutti (seed cotton) arrivals during last fortnight ended January 15 deepened fears about the size of current season (2005-06) crop....
Remittances up by 5.6pc in 6 months KARACHI, Jan 18: The half-yearly inflow of workers’ remittances will provide a significant cushion to the government while dealing with the widening trade deficit problem, as workers’ remittances during the first...		Rs13.8bn revenue collected: Southern region KARACHI, Jan 18: The Southern Region of Income Tax, Karachi, collected Rs13.835 billion during the first half of current fiscal year (2005-06), showing an increase of around 29 per cent over...
Bull-run continues on stock market KARACHI, Jan 18: Stocks on Wednesday again showed bullish trend despite profit-selling in some of the blue chips at the inflated levels, the on balance trend remained uppishly inclined amid active follow-up support at the dips....		Lint prices shoot up on panic buying KARACHI, Jan 18: Cotton prices on Wednesday rose further by Rs75 per maund as below market expectations fortnightly arrivals of phutti into the ginneries triggered panic mill buying....
CBR seeks autonomy in financial matters ISLAMABAD, Jan 18: The Central Board of Revenue (CBR) will move again a proposal to the prime minister for seeking autonomy in financial matters in execution of its policies....		FTA with Singapore by April ISLAMABAD, Jan 18: Pakistan and Singapore on Wednesday concluded the second round of negotiation on Free Trade Agreement (FTA) with a consensus to make the draft ready for signing in the next three months....
TBs auction deepens liquidity crunch KARACHI, Jan 18: The State Bank sold treasury bills worth Rs8.447 billion on Wednesday without any change in the cut-off yields....		Oil prices mixed amid supply fears LONDON, Jan 18: Oil prices were mixed on Wednesday, after nearing four-month peaks on heightened worries over crude supplies in Nigeria and Iran, dealers said....
US economy to grow WASHINGTON, Jan 18: The US economy should grow at a slower pace in 2006, by 3.3 per cent to 3.4 per cent, while unemployment continues to decline, White House economic adviser Al Hubbard said on Wednesday....		WTO hearings GENEVA, Jan 18: The WTO is set to open to the public its hearings in the EU-US battle over billions of dollars in aid for aircraft giants Boeing and Airbus, officials said on Wednesday....
US consumer prices ease in December WASHINGTON, Jan 18: US consumer prices fell 0.1 per cent in December, as energy costs retreated, the government said on Wednesday, in a sign that inflation remains largely tame....		SECP penalizes 19 firms ISLAMABAD, Jan 18: The Securities and Exchange Commission of Pakistan (SECP) has penalized 19 companies for violation of different legal provisions last month....
Germany needs more reforms WASHINGTON, Jan 18: Germany’s economy is set to expand by a healthier 1.5 per cent this year but needs a fundamental overhaul to cope with daunting long-term challenges, the International Monetary Fund said on Wednesday....		UK unemployment increases LONDON, Jan 18: British unemployment rose for the 11th month running in December, official data showed on Wednesday, adding to the case for an interest rate cut, analysts said....
Egypt-US FTA deal at risk CAIRO, Jan 18: Egypt risks missing its chance to clinch a free trade agreement (FTA) with the United States if talks do not kick off in the coming weeks, an official with the US Congress said on Wednesday....		BD tea prices slide ISLAMABAD, Jan 18: The average price of Bangladesh teas fell by 0.44 per cent to 77.30 taka($1.16) at a weekly auction, brokers said....
CIPE launching today KARACHI, Jan 18: The Centre for International Private Enterprise (CIPE) is being launched on Thursday, with the opening if its office in the city....		Airlines’ loss FORT WORTH (Texas), Jan 18: American Airlines parent company AMR said on Wednesday its fourth-quarter loss widened to $604 million, as results were hit by high fuel costs and one-time charges....
Rating assigned KARACHI, Jan 18: JCR-VIS Credit Rating Company has assigned a management quality rating ‘AM2’ to PICIC Asset Management Company (PICIC- AMC)....		Palm oil ends down KUALA LUMPUR, Jan 18: Malaysian palm oil prices fell on Wednesday, halting a three-day climb after weaker soyaoil prices in the United States weighed on the market....
FTA with Mauritius ISLAMABAD, Jan 18: A high-level official delegation has left for Mauritius to initiate the first round of negotiations on the proposed free trade agreement (FTA)....		Kenyan tea prices up NAIROBI, Jan 18: Prices of Kenyan tea were mostly higher at this week’s auction as buyers stocked up on the commodity fearing a fall in volume due to drought conditions in the country, traders said on Wednesday....
European stock markets slide LONDON, Jan 18: European stock markets sank on Wednesday after Japanese shares plunged across the board in shortened trading, compounding gloomy earnings news from the United States, dealers said....		Asian stock markets lower HONG KONG, Jan 18: Asian stocks were punished sharply on Wednesday as Tokyo was tripped up again by a probe into Internet favourite Livedoor, with the authorities forced to call an...
Port Qasim KARACHI, Jan 18: Four ships to load and offload containers, rice and edible oil arrived at the outer anchorage) during the last 24 hours, said a PQA press release on Wednesday....		Karachi Port operations KARACHI, Jan 18: Nine ships carrying cars, containers and to load fish and molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources....