19 January 2005	Wednesday	08 Zilhaj 1425

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$600m bids accepted for 5-year Sukuk ISLAMABAD, Jan 18: Pakistan on Tuesday accepted $600 million worth of bids for its first ever Islamic bond "Sukuk" that was closed in London and attracted a total subscription of $1.2 billion. ...		Foreign bank branches get higher deposits KARACHI, Jan 18: On an average, a branch of a local commercial bank keeps Rs315.3 million deposits, whereas a branch of a foreign bank can boast of deposits worth Rs3.367 billion, analysis of data obtained from the State Bank publications show. ...
Investment proposals discussed with PM ISLAMABAD, Jan 18: Prime Minister Shaukat Aziz on Tuesday said the government had provided enabling environment for investment and the current economic atmosphere in Pakistan provided immense opportunities for investors. ...		ECC okays reduction in duties, taxes: Ship-breaking ISLAMABAD, Jan 18: The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved a reduction in duties and taxes on ship-breaking industry and introduced a new 'no duty-no drawback' regime for the procurement of cotton ...
Ban on used auto parts import may go ISLAMABAD, Jan 18: The Central Board of Revenue (CBR) has worked out various proposals for withdrawal of ban on import of second-hand auto parts aimed at curbing the smuggling of the products. ...		Facility at sea ports for export reviewed ISLAMABAD, Jan 18: Ministry of Ports and Shipping Secretary Fazal ur Rehman said on Tuesday that the government would provide all international requirements for exports at country's sea ports. ...
Commercial production from next year: Chakwal Cement in new hands KARACHI, Jan 18: Chakwal Cement Company Limited would go into commercial production early next year, as the new owners -- Orascom, the Egyptian giant, is understood to have started infrastructure build up through Descon Engineering ...		PSO seeks .330m tons fuel oil SINGAPORE, Jan 18: Pakistan State Oil (PSO) has issued a tender to buy six high-sulphur fuel oil cargoes, totalling 330,000 tons, for delivery between February and April, industry sources said on Tuesday. ...
SME policy to minimize risks for financing LAHORE, Jan 18: The first-ever SME policy being formulated by the Small and Medium Enterprise Development Authority (Smeda) will attempt to develop products and procedures for banks to hedge the risks involved ...		Pakistan, Italy to boost trade ISLAMABAD, Jan 18: Pakistan and Italy have agreed to collaborate in textiles, leather, marble and gems and jewellery sectors to enhance the volume of trade between the two countries. ...
Bullish trend on cotton market KARACHI, Jan 18: Cotton market on Tuesday showed firm trend as ginners raised their asking prices by Rs25-Rs50 per maund amid predictions of pressure on ready supplies. ...		Profit selling sets in on stock market KARACHI, Jan 18: The overnight run-up was halted on the stock market on Tuesday as investors took profit at the inflated levels but bulk of the selling was absorbed both at the rise and the dip. ...