25 January 2005	Tuesday	14 Zilhaj 1425

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FDI up by 61 per cent during six months ISLAMABAD, Jan 24: The flow of Foreign Direct Investment in July-December 2004 reached $445 million as compared to $ 277 million during the corresponding period last year, registering 61 per cent growth. ...		Telenor to invest $1bn in Pakistan KARACHI, Jan 24: Norway's telecom giant Telenor has planned to invest $1 billion by 2010 in Pakistan's mobile phone operation relating to infrastructure development, network expansion etc. ...
Banks gave Rs49bn in first half: Agricultural loans KARACHI, Jan 24: All the banks involved in disbursement of farm credit under the State Bank's scheme offered Rs49 billion agricultural loans in the first half of this fiscal year against the full year target of Rs85 billion. ...		Pakistan seeks cut in subsidies ISLAMABAD, Jan 24: Pakistan along with other developing countries will raise the issue of deeper cuts in domestic support and subsidies on agriculture products by developed countries in the next two WTO mini-ministerial meetings. ...
GATT code of valuation yet to be adopted KARACHI, Jan 24: In place of invoice based valuation of imported goods the customs authorities in Pakistan are continuing with notional valuation method to determine the rate and amount of duty liable on imports. ...		Only two bilateral trade bodies active KARACHI, Jan 24: Economic diplomacy and export promotion are being practiced with greater zeal and vigour at the highest level of the government. ...
Only four states ratify ECOTA ISLAMABAD, Jan 24: Four ECO member countries have so far formally ratified the Economic Cooperation Organization Trade Agreement (ECOTA) for bringing down tariff to around 15 per cent on all products within a period of eight years. ...		$1bn oil smuggled out annually: Iran TEHRAN, Jan 24: More than $1 billion worth of gasoline and other oil products is smuggled out of Iran each year, the government spokesman said on Monday, criticising parliament for maintaining heavy fuel subsidies. ...
G7 has unified vision of world economy PARIS, Jan 24: The Group of Seven industrialized countries share a vision of what should be done to shore up the world economy and to secure euro-dollar stability but joint action remains complicated ...		East Asia Free Trade feasibility BEIJING, Jan 24: China, Japan, South Korea and 10 Southeast Asian nations will carry out a feasibility study to establish an East Asia Free Trade Area, but it will be a "long-term process" before the bloc is formed, state press said Monday. ...
Cotton market lacks lustre KARACHI, Jan 24: The post-holiday session on the cotton market was listless as both buyers and sellers remained busy in exchanging eid greetings rather than indulging in physical trading. ...		Stocks gain 115 points on intensive buying KARACHI, Jan 24: Stocks on Monday resumed trading on a bullish note as bulls were not inclined to take even a technical breather apparently before attaining the index level of 7,000 points. ...