17 April 2005	Sunday	07 Rabi-ul-Awwal 1426

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NSS rates to rise in July KARACHI, April 16: The government may increase the rates of return on fixed income national saving schemes or NSS at the beginning of the next fiscal year in July....		Indirect tax biased against poor: report ISLAMABAD, April 16: Pakistan’s indirect tax system is aggressive and biased against the poor putting greater burden on the lower income...
CBR admits stock brokers profits remain untaxed KARACHI, April 16: The Chairman of Central Board of Revenue (CBR) Mr Abdullah Yusuf conceded on Saturday that the stock brokers...		Export industry needs govt support KARACHI, April 16: Pakistan Hosiery Manufacturers Association Central Chairman Aslam Karsaz has said that a large number of hosiery, knitwear and readymade garment units have closed down since the start of...
NIT assets value grows by 47.3pc KARACHI, April 16: National Investment Trust Limited (NIT) managed to ride out the challenges of mid-March stock market crisis, as is reflected...		Confusion over size of mango crop KARACHI, April 16: As the king of fruits, mango is now in the fruiting stage in Punjab and maturation stage in Sindh, there is a confusion over the...
5pc rebate on leather garments sought KARACHI, April 16: The Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) has urged the government to allow 5pc compensatory rebate on export...		Opec may delay further output increase KUWAIT, April 16: Opec is likely to postpone a further production increase for the time being if prices continue to retreat, a spokesman for the oil producers’ cartel was quoted on...
World services trade talks in bad shape:US industry WASHINGTON, April 16: Trade talks to make it easier for banks, telecommunication companies and other service providers to do business around...		NY cotton mixed NEW YORK, April 16: Cotton futures settled mixed on Friday as switch trade from players moving positions out of May pressured the nearby months and the trade kept tabs on options...
German govt denies row with Bundesbank BERLIN, April 16: The German government denied a report on Friday that Chancellor Gerhard Schroeder planned to reprimand the Bundesbank for criticising government....		Dollar falters on weak US data NEW YORK, April 16: The dollar retreated broadly on Friday, as soft consumer sentiment and weak manufacturing data overshadowed a report showing hefty inflows to US assets that were sufficient to...
Oil prices tumble as strong dollar hits commodities LONDON, April 16: Oil prices slumped this week after an unexpected sharp rise in US crude inventories and the likely prospect of a production hike by Opec helped to assuaged fears...		Group of Seven presses for steps to fix imbalances WASHINGTON, April 16: Finance chiefs from the Group of Seven economic powers pledged “vigorous” steps, from deficit reduction to reform, to fix global economic imbalances...
‘US seeks new ways to meet energy needs’ WASHINGTON, April 16: Under pressure over rising gasoline prices, President George W. Bush said on Saturday that energy legislation to be debated on Capitol Hill must....		IMF sees deal with creditors in Argentina’s interest WASHINGTON, April 16: The International Monetary Fund again asked Argentina on Friday to broker a deal with creditors who...
Balancing oil supply and demand RIYADH, April 16: Balancing the crude equation is now becoming one of the key factors in the global oil markets today. Temperature and sensitivities of the issue of high prices are...		Dullness prevails on cotton market KARACHI, April 16: Cotton market passed through another dull session on Saturday partly to falling mill and spinner demand and partly to higher price being demanded by some of the ginners...
G24 wants more say in IMF, WB WASHINGTON, April 16: If developing nations are not given more say in global financial institutions, they will leave the fold of the...		Union Bank earns Rs647m KARACHI, April 16: The Union Bank said on Saturday it has posted a pre-tax profit of Rs647 million in the first quarter of 2005 up 242 per cent from Rs189 million...