May 10, 2005	Tuesday	Rabi-us-Sani 1, 1426

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Bidding process after PM’s return: PTCL sell-off KARACHI, May 9: The bidding process for the privatization of Pakistan Telecommunication Company Limited (PTCL) will begin soon after the return of Prime Minister Shaukat Aziz from the four-nation tour. Privatization...		Efforts under way to evolve uniform law: Benami transactions in provinces ISLAMABAD, May 9: Adviser to the Prime Minister on Finance and Revenue, Dr Salman Shah, here on Monday directed the Finance Division to circulate the draft of Benami law prepared by...
OCAC making case for POL price hike KARACHI, May 9: The Oil Companies Advisory Committee (OCAC) is trying to prepare a case for price hike in POL products in coming fortnights and has issued a lengthy statement giving...		CBR drive to raise ST from steel, cement, sugar units ISLAMABAD, May 9: The Central Board of Revenue will soon launch a drive to raise maximum amount sales tax from 368 cement, steel and sugar industries against their actual production during...
Govt may raise CVT on purchase of share ISLAMABAD, May 9: The government is considering a proposal to raise the rate of capital value tax (CVT) on purchase of share through stock exchanges from 0.01 per cent to 0.1...		India offers joint venture in plastic industry KARACHI, May 9: Visiting delegation of Indian plastic industry has offered joint ventures in the manufacturing of plastic products and plastic polymers in Pakistan. This offer was made by the leader...
BoE leaves rates steady LONDON, May 9: The Bank of England (BoE) kept its key interest rate at 4.75 per cent for the ninth month running on Monday at its first meeting since Tony Blair’s...		Oil prices rise on supply fears LONDON, May 9: World oil prices rose on Monday as traders worried about possible supply shortages amid anticipated higher levels of demand for gasoline ahead of the peak driving season starting...
TCP sells cotton KARACHI, May 9: The Trading Corporation of Pakistan on Monday sold 49,800 bales of cotton to 29 local mills against 74 bids for 129,000 bales. According to the TCP, the price...		PR to be made corporation by June ISLAMABAD, May 9: Federal Minister for Railways Mian Shamim Haider on Monday told the National Assembly that the government had decided to convert Pakistan Railways Operation Unit into state-owned corporation by...
North-south showdown for WTO top slot GENEVA, May 9: The race to lead the World Trade Organization entered its final stretch on Monday, as senior diplomats started consultations aimed at deciding whether former EU trade chief Pascal...		S. Arabia plans share offering in Yanbu refinery DAMMAM, May 9: Saudi Arabia will offer shares in its planned joint venture export refinery in Yanbu to the public, a Saudi Aramco official said on Monday. The state-owned oil producer...
KSE 100-share index crosses two barriers in one go KARACHI, May 9: Stocks on Monday maintained their upward drive as investors continued to build up long positions on selected counters under the lead of oil shares aided by positive news...		Cotton market in cheerless mood KARACHI, May 9: Trading on the cotton market on Monday resumed on a cheerless note as spinners and millers were busy revising their bids price as demanded by the TCP on...
Karachi Port operations KARACHI, May 9: Five ships including a rice loader are due to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was modest where...		Port Qasim KARACHI, May 9: Two ships carrying containers and coal were berthed at QICT and IOCB during the last 24 hours, said a PQA press release on Monday. Berth occupancy fell below 50 per cent as only four ships,...
G10 banks maintain growth forecast BASEL, May 9: Top central bankers left unchanged on Monday their forecast for modest growth in the global economy, citing the dampening effect of high oil prices. “There is no reason...		London sugar edges up LONDON, May 9: London white sugar futures inched higher on trade buying in light volumes on Monday, and traders said lower freight rates and weak futures prices had stimulated brisk Asian...
Dollar up against euro, yen LONDON, May 9: The dollar strengthened against the euro and yen on Monday, profiting from stronger-than-expected US employment data which has fuelled expectations of further rises in American interest rates, analysts...		Palm oil prices higher KUALA LUMPUR, May 9: Malaysian crude palm oil futures ended off their highs on Monday as profit taking trimmed early gains posted on the back of a surge in rival US...