May 3, 2005	Tuesday	Rabi-ul-Awwal 23, 1426

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ADB plans $300-500m credit for investors: Infrastructure LAHORE, May 2: The Asian Development Bank (ADB) is said to be contemplating to set up a $300-500 million credit line for private investors interested in undertaking infrastructure projects in the...		UAE-gifted generators lying idle: KESC sell-off hiccups KARACHI, May 2: The unfinished and uncertain privatization of the Karachi Electric Supply Corporation (KESC) to a Saudi investors’ group Kanooz al Watan has prevented the installation of electric generators gifted...
Gap between lending, deposit rates widens KARACHI, May 2: The gap between average lending and deposit rates of banks widened to 5.86 percentage points at the end of March 2005 from 5.28 percentage points at the end...		Manufacturing share in GDP stagnant at 18pc LAHORE, May 2: Federal Minister for Industries, Production and Special Initiatives Jehangir Khan Tareen has said that his ministry has fixed target of increasing share of manufacturing sector in the GDP...
SECP’s ‘no’ to KSE demands triggers panic-selling KARACHI, May 2: Stocks on Monday resumed trading on a terribly bearish note on near-panic selling by all and sundry amid reports that the SECP has not accepted the latest KSE...		Balochistan, Sindh to sort out issue: Gas royalty KARACHI, May 2: A meeting of the finance ministers of Sindh and Balochistan is being held on Tuesday to sort out the issue of distribution of the royalty on natural gas...
Shipping agents for withdrawal of GST KARACHI, May 2: Shipping agents have urged the government to withdraw 15 per cent central excise duty (CED) imposed last year on their export commission from non-resident principals. In a representation...		IEA ministers to discuss oil price, supply PARIS, May 2: The world’s richest oil consuming nations gathered in Paris on Monday for talks aimed at securing supply and limiting economic damage caused by near-record prices amid new signs...
EU, US set aside row to push free trade round PARIS, May 2: The United States and the European Union set aside a dispute over rival aircraft makers Airbus and Boeing on Monday, joining forces to haul world free trade talks...		Engro Chemical rated AA-, A1+ LAHORE, May 2: The Pakistan Credit Rating Agency (Pacra) has maintained the long-term entity rating of Engro Chemical Pakistan Ltd (ECPL) at “AA-” (double A minus) and the short-term rating at...
Bangladesh stocks fall like ninepins DHAKA, May 2: Stocks in Bangladesh tumbled closer to a 10-month low on Monday, prompting investors to call for the government’s intervention to arrest an ‘abnormal’ downslide that has seen the...		Acting SBP Treasurer KARACHI, May 2: The federal government has notified posting of Zafar M. Shaikh, Head of Treasury and Exchange & Debt Management Department of the State Bank, as Additional Director General Debt...
Cotton market remains dull on TCP tender KARACHI, May 2: Cotton market on Monday lacked normal trading interest as spinners and mills remained busy in working out bids against the latest TCP tender for sale of 60,000 bales....		Karachi Port operations KARACHI, May 2: Five vessels carrying containers and to load ethanol are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves modest...
Asian stocks firmer HONG KONG, May 2: Most Asian markets were closed on Monday for the May Day public holiday but those that were open, firmed in thin trade while showing little inclination to...		Asian growth ISTANBUL, May 2: Economic integration among Asian countries will be one of the key priorities of the Asian Development Bank in order to speed up economic growth in the region, the...
Oil prices bounce NEW YORK, May 2: Oil prices rebounded from 10-week lows on Monday as speculative buying stemmed a prolonged losing streak that had been triggered by swelling US crude stocks and high...		EU seeks textiles talks with China BRUSSELS, May 2: The European Union reacted positively on Monday to Beijing’s appointment of a special negotiator to resolve trade disputes, calling for talks to broker a deal on the sharp...