May 13, 2005	Friday	Rabi-us-Sani 4, 1426

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Progress on 82 PSDP projects very slow ISLAMABAD, May 12: Eighty two projects out of a total 192 of the federal Public Sector Development Programme (PSDP) are moving very slow and the government may soon divert allocated funds...		Machinery import up by 54.9 per cent ISLAMABAD, May 12: Import of machinery, particularly the textile machinery, registered 54.90 per cent growth during the first nine months (July-March) period of the current fiscal year. Official figures released by...
PPIB to issue LoI for power plant at Thar ISLAMABAD, May 12: The Board of directors of Private Power and Infrastructure Board (PPIB) on Thursday decided to issue Letter of Interest (LoI) to AES for 1,000 MW integrated coal based...		Textile exports pick up: Jan-March 2005 KARACHI, May 12: Pakistan’s textile exports have started picking up after the removal of quotas from January 1, a closer look at the latest data on external trade shows. Textiles exports...
Dollar surges on US data LONDON, May 12: The dollar surged to a six-month high against the euro here on Thursday following publication of stronger-than-expected US retail sales in April. The single European currency in late-day...		Bidding for PTCL shares on June 10 ISLAMABAD, May 12: The Privatization Commission on Wednesday announced the schedule for the bidding of Pakistan Telecommunication Company Limited. The bidding will be held on June 10 for 26 per cent...
Pakistan, US make progress on treaty ISLAMABAD, May 12: Pakistan and the United States on Thursday agreed to hold fourth round of negotiation on the draft of the proposed bilateral investment treaty (BIT) in Washington mostly likely...		Oil drops below $49 as demand easing LONDON, May 12: World oil prices fell heavily below $49 a barrel on Thursday in response to data showing high levels of US crude inventories amid easing demand in energy-hungry China...
Prospects of trade with Singapore bright: PM SINGAPORE, May 12: Prime Minister Shaukat Aziz on Thursday noted a vast potential of expanding trade and commercial ties with Singapore and expressed the hope that his visit would boost bilateral...		China not to bow to pressure on yuan BEIJING, May 12: China’s central bank said on Thursday it would not bow to external pressures to revalue its currency and blamed the United States for creating a negative environment for...
NTC begins dumping probe ISLAMABAD, May 12: The National Tariff Commission (NTC) has started an anti-dumping investigation against alleged dumping of polyester filament yarn (PFY) into Pakistan by exporters from Indonesia, Korea, Malaysia and Thailand....		Cellphone service launched ISLAMABAD, May 12: Pakistan mobile operator Warid Telecom has launched its commercial GSM/GPRS service covering 28 major cities with a total population of around 32 million. Addressing a joint press conference...
Selling in oil shares deprives index of 213 points KARACHI, May 12: Stocks on Thursday fell across-the-board on heavy selling in the oil giants triggered by reports of three per cent fall in world oil prices and its likely negative...		Forward deals in new crop resume KARACHI, May 12: Forward trading in new crop from a Sindh ginnery was resumed on Thursday as a ginner offered to deliver a maiden lot by mid-August and brokers said other...
Karachi Port operations KARACHI, May 12: Seven ships including a car carrier with 1,050 units are due to arrive at the outer anchorage on Friday, according to KPT sources. Berthing activity at the wharves...		Technical fault in LSE system LAHORE, May 12: The Lahore Stock Exchange (LSE) on Thursday had to temporarily suspend trading for a few minutes in the shares of Oil and Gas Development Corporation (OGDC) on its...