20 November 2004 Saturday 07 Shawwal 1425 PC rejects State Oil proposals: NRL privatization KARACHI, Nov 19: The Privatization Commission (PC) has put aside three proposals of the Pakistan State Oil (PSO) regarding the privatization of National Refinery Limited (NRL). ... Cotton arrivals up by 51pc MULTAN, Nov 19: Cotton arrivals at the ginneries has maintained a higher trend as the latest figures of Pakistan Cotton Ginners Association shows 43.77 per cent increase in the cotton output as compared to the same period last year. ... Rupee sheds 10 paisa in two days KARACHI, Nov 19: The rupee has shed 10 paisa against the US dollar in two working days of this week, as the demand for dollars was higher than the supply.... Food, house rent push up inflation KARACHI, Nov 19: The average prices of food and beverages increased by 12.26 per cent and the average house rent went up by 10.76 per cent in October 2004 over October 2003. ... Seven parties pre-qualified: Pak-Arab Fertilizers ISLAMABAD, Nov 19: The Board of Privatization Commission on Friday approved the recommendations of the pre-qualification committee for Pak-Arab Fertilizers Limited and pre-qualified seven parties. ... SBP to launch bond index in January KARACHI, Nov 19: The State Bank says it plans to launch the first government bond index to provide "history and trends of sovereign bonds as well as corporate bonds" to investors. ... Banks borrow Rs5.789bn from SBP KARACHI, Nov 19: Banks had to borrow Rs5.789 billion from the State Bank on Friday to overcome a temporary liquidity shortage. Bankers said banks resorted to this overnight borrowing chiefly to meet the cash reserve requirement at the end of the week. ... Nishat Mills KARACHI, Nov 19: On Thursday, Nishat Mills Limited announced financial figures for the year ended September 31, 2004, posting an after-tax profit of Rs751 million. ... Pakistan, Netherlands to support private sector ISLAMABAD, Nov 19: Pakistan and the Netherlands will work together to support the private sector development by promoting and supporting economic cooperation between business sectors of the two countries on the basis of equal partnership and mutual benefit with a focus on private investments. ... TCP procures 0.840m bales KARACHI, Nov 19: The Trading Corporation of Pakistan on Friday made a record procurement of 67,000 bales in one day, making a total purchase of about 840,000 bales of cotton from ginners. ... BD commerce minister due on 24th KARACHI, Nov 19: The commerce minister of Bangladesh will visit Pakistan on November 24 to further boost economic and trade ties between the two countries. He will also visit Karachi and hold meetings with the local business community. ... Greenspan sceptical about intervention: Euro's rise FRANKFURT, Nov 19: US Federal Reserve Chairman Alan Greenspan deflated European hopes on Friday for coordinated central bank intervention to check the record-setting pace of the euro. ... Cotton market lacks lustre KARACHI, Nov 19: Cotton market on Friday lacked normal trading interest as buyers and sellers kept to the sidelines apparently analysing the likely impact of a record arrivals of phutti into the ginneries for the fourth successive week. ... Stocks maintain upward trend despite profit selling KARACHI, Nov 19: Stocks finished the weekend session on a firm note despite badla-related profit selling as institutional traders remained active buyers at the current levels on selected counters, notably on the energy sector. ...

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