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Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)



In oC




Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
Today 1 20 87 Sunny
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Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
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FOR.: Weather Forecast
updated: Fri - Sun 23-25 Dec, 2005




KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1







Dec 19 - 25, 2005

"This would benefit both the countries and the people would gain from increased economic activity."

(Prime Minister Shaukat Aziz said.)

There is a vast opportunity for the Iranian investors to invest in Pakistan. The Prime Minister was talking to Iranian Foreign Minister Manouchehr Mottaki at the PM House.

"Pakistan exports have grown at an annual rate of nearly 10 percent since 1970, with exports as a percentage of GDP almost tripling, to more than 20 percent between 1970 and 2003."

(First Deputy Managing Director, IMF, Anne O Krueger said.)

"We have the financial resources and will put them to use for the uplift of the people of Balochistan, so opposition to development is absolutely unjustified. You should be rest assured that all resources of the province will be utilized for your well being, so do not pay any heed to the elements who are indulged in utterly baseless propaganda."

(President General Pervez Musharraf said.)

President also announced a series of Rs 1.5 billion development projects for Kohlu district. He is the first head of the state to visit Kohlu in the last quarter of a century.

"If exporters from rich countries pay 1 to 2 percent tariffs on their exports, why exporters from developing countries have to pay many times more. It is special and differential treatment for exporters from the rich countries."

(Commerce Minister Humayun Akhtar said.)

He was addressing the preliminary session of the Sixth WTO Ministerial Conference.

"There are various merger and acquisition options that we can and will explore," Frans van Houten, chief executive of Philips Semiconductors said.

Dutch Philips Electronics will consider merger and acquisition options for its semiconductor business, which will be organized under a separate legal structure.

"His group intended to invest $1.3 billion for establishing 1200mw power plant on Built-Operate-Own (BOO) basis with the PPIB; to lay down 470km white oil pipeline extension from Gwadar-Lahore-Rawalpindi-Peshawar; to avail opportunities in industry and tourism sectors; industrial estate in Gwadar and housing projects in Islamabad."

(Dr Jawad A. Anani expressed his interest to the minister.)

A leading Jordanian investors group led by Dr Jawad A. Anani of Shaheen Business and Investment Group expressed these views in a meeting with Privatization Minister Dr Abdul Hafeez Shaikh.)

"The project aims to quickly reverse the devastating impact of the earthquake and revive economic activity to enable people to resume their livelihoods and return to normal life," Asian Development Bank senior transport specialist Fernando Garcia said.

"In addition to China's new automobile policy that encourages the use of hybrid vehicles, the introduction of emission regulations on par with those in Europe and the United States is also moving forward."

(Toyota statement quoted Executive Vice President Yoshimi Inaba as saying during a ceremony at the plant in Changchun, north-eastern China.)

"After the provincial government decision the miners will get compensation for accidental deaths and will receive grants for marriages, child education and construction of houses."

(The NWFP Minister for Industries Malik Zafar Azam said.)

"The Cabinet Committee on Economic Affairs (CCEA) has approved the purchase of aircraft for Air-India subject to one final round of price negotiations by Empowered Group of Ministers (EGOM)," Civil Aviation Minister Praful Patel said.

"If this shift does not occur based on current growth trends, foreign exchange reserves could top $1 trillion by the end of next year."

(Ba Shusong, vice-head of the financial research institute at the cabinet's Development Research Centre said.)

China's foreign exchange reserves could exceed $1 trillion by the end of 2006.

"The Bundebank of course has independence and sovereignty over its gold reserves."

(Steffen Kampeter, budget expert in the conservative Christian Democratic Union said.)

Kampeter said that it alone should be able to decide if it exercised its option to sell gold under the central banks' agreement.

"Pilkington has considered the revised proposal and has informed NSG that the pre-conditions are unacceptable and the price still falls short of a level which it would be prepared to recommend."

(The company said in a statement.)

British glass maker Pilkington Plc rejected a revised 158 pence per share bid worth 2.08 billion pounds ($3.69 billion) from Japan's Nippon Sheet Glass Co Ltd .


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