U.K. Honors London Terror Attack Heroes, Executives, Athletes (Bloomberg.com)
Dec. 31 (Bloomberg) — Adrian Montague, British Energy Plc chairman, and William Gammell, Cairn Energy Plc chairman, will be knighted, while London terror attack heroes and England cricket team members also are named on Britain’s New Year Honors List.

No change in refinance rate (Business Recorder)
KARACHI (January 01 2006): The State Bank of Pakistan (SBP) has announced that the rate of refinance for January 2006 will remain 7.5 percent per annum.

Mortgage applications fall to 3-year low (The Charlotte Observer)
The number of mortgage applications filed last week fell to the lowest level in more than three years, more evidence the U.S. housing market is stumbling. The Mortgage Bankers Association’s index of applications to buy a home or refinance an existing mortgage declined 6.8 percent to 554.1 last week, from 594.6 a week earlier. The gauge is the lowest since 554.9 in the week ended June 7,