April 6, 2006	Thursday	Rabi-ul-Awwal 7, 1427

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Cement price rises again ahead of export ban KARACHI, April 5: While the decision to halt cement exports for a month is yet to come into force from Thursday, the price of cement has further increased in the market....		CBR council okays new two-stream structure for taxes ISLAMABAD, April 5: The Board-in-Council (BIC) of the Central Board of Revenue (CBR) has approved a new two-stream structure for taxes — Inland Revenue Service (IRS) and Pakistan Customs Service (PSS)...
State Bank injects Rs16bn KARACHI, April 5: The State Bank on Wednesday injected Rs16.150 billion in the money market, but the prevailing shortage of liquid cash persisted with the high overnight rates....		LCCI, UK-Pak chamber sign MoU to boost trade LAHORE, April 5: The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday joined hands with the UK-Pak Chamber of Commerce and Industry for the promotion of business activities between the two countries....
Economic growth may fall below 6 per cent ISLAMABAD, April 5: Pakistan’s economic growth rate is likely to fall below six per cent during the current fiscal year against the budgetary target of seven per cent owing to a substantial shortfall in the agricultural output, it is learnt....		Bank Al-Jazira stock climbs 28pc in 5 days KARACHI, April 5: The price of the stock in Bank Al-Jazira has climbed by a steep 28 per cent or Saudi riyal (SR) 417 (equivalent to Rs6,664) in five trading sessions in April, despite a drop of SR39 on Wednesday....
Oil prices jump to $67 after US stock data LONDON, April 5: World oil prices rebounded to $67.0 per barrel on Wednesday after official data revealed a sharp fall in stockpiles of US gasoline. New York’s main contract, light sweet crude for delivery in May, climbed 77 cents to $67.0...		WTO’s duty conversion condition fulfilled ISLAMABAD, April 5: Pakistan has converted compound/specific duties on four items into ad valorem equivalent (AVEs) — duty on actual value — as part of compliance to the WTO regime....
CDS tariff structure revised ISLAMABAD, April 5: In order to encourage investors in the capital market, the Securities and Exchange Commission of Pakistan on Wednesday approved substantial reduction in the Central Depository System (CDS) tariff structure....		Customs clearance time cut to 4 hours ISLAMABAD, April 5: The Model Collectorate of Customs (MCC) has further reduced the clearance time of the import cargo from 10 to 4 hours, official sources said here on Wednesday....
Stock market enters into consolidation phase KARACHI, April 5: Stocks on Wednesday rose further higher on active follow-up support but the buying interest remained confined to leading bank and low-priced shares amid an actively traded session....		Active buying on cotton market KARACHI, April 5: Active trading was witnessed on the cotton market on Wednesday as spinners resumed short-covering at the current levels fearing further increase in prices....
Mittal Steel refuses to raise bid for Arcelor PARIS, April 5: Global steel giant Mittal Steel said on Wednesday it would not improve its offer for Arcelor following the European steel group’s bid to persuade its shareholders to reject Mittal’s approaches by offering them bumper payouts....		Dubai Bank launches $5 billion equity funds KARACHI, April 5: Dubai Islamic Bank (DIB) and Dubai World have announced the launch of the first of its kind $5 billion family of private equity funds to participate in strategic transactions on a global basis....
Karachi Port operations KARACHI, April 5: Three ships carrying containers and to load molasses are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves was...		Port Qasim KARACHI, April 5: Berthing activity was slow as only one oil tanker, Warbah, to unload 50,212 tons of diesel oil was berthed during the last 24 hours, said a PQA press release on Wednesday....
PCM rating LAHORE, April 5: Pakistan credit rating agency (PACRA) has assigned a 5-star fund rating to Pakistan Capital Market Fund (PCM), which reflects its superior performance. According to PACRA analysts the rating...		Asian stocks firmer HONG KONG, April 5: Asian stocks closed firmer on Wednesday, with the underlying momentum of the recent advance ensuring further gains in the absence of any specific news lead, dealers said....
Indian rupee 3-month lows MUMBAI, April 5: The rupee closed steady near three-month lows on Wednesday, held by the central bank, which traders said absorbed robust foreign equity inflows to ensure the overvalued Indian currency did not undermine exports....		KSE elections KARACHI, April 5: Ejaz Ali Meerani and Muhammad Iqbal Munshi have been elected as President and General Secretary of the Karachi Stock Exchange employees union CBA, respectively for 2006-07, says a KSE press release....