May 15, 2005	Sunday	Rabi-us-Sani 6, 1426

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US slaps quotas on China’s clothing KARACHI, May 14: In a dramatic move, the United States late on Friday re-imposed quotas on three categories of clothing imports from China thereby sending shock waves across nations producing textiles...		KSE share free-float at around 20 per cent KARACHI, May 14: The Karachi Stock Exchange (KSE) share free float is estimated to be approximately 22 per cent based on top 27 stocks that are on the futures counter. Based...
Bush wants new energy strategy to cut imports WASHINGTON, May 14: US President George W. Bush on Saturday stressed the need for a “comprehensive strategy” to reduce the United States’ dependence on foreign oil. In his weekly radio address,...		3,174 corporate taxpayers file nil returns ISLAMABAD, May 14: As many as 3,174 corporate taxpayers out of total 9,962 have filed nil returns with the income tax department, showing no income in their businesses during the current...
Sindh farm IT collection down to Rs163m KARACHI, May 14: The recovery of tax on agricultural income in Sindh continues to show declining trend for the fifth consecutive year in kharif 2004-05 when it has come down to...		PC receives Rs14.125bn highest bid: Pakarab Fertilizers ISLAMABAD, May 14: The Privatization Commission (PC) here on Saturday received the highest offer of Rs14.125 billion for the sale of 94.8 per cent (74,306,100) shares of Pakarab Fertilizers (Pvt) Limited...
Parameters for valuation audit finalized ISLAMABAD, May 14: The valuation department of the Central Board of Revenue has finalized parameters for carrying out audit and verification of import and export documents to detect valuation fraud and...		ACU meeting tomorrow LAHORE, May 14: The State Bank of Pakistan will host the 34th annual meeting of the Board of Directors of the Asian Clearing Union (ACU) starting here on Monday. The meeting...
Zero-duty deal with Malaysia in 2 months ISLAMABAD, May 14: Pakistan and Malaysia would conclude the proposed early harvest programme (EHP) — zero rate duty on selected items — in the next two months, a senior official told...		US Snow renews pressure on China for forex peg WASHINGTON, May 14: US Treasury Secretary John Snow on Friday renewed pressure on China to let its currency trade freely, saying the United States has made clear it wants Beijing to...
COMEX gold settles at 3-month low NEW YORK, May 14: US gold futures posted fresh three-month lows at the close Friday, pressured by light-volume speculative liquidation after Thursday’s steep dive, as the dollar extended gains against major...		Dollar up against major currencies NEW YORK, May 14: The dollar climbed to fresh multi-month highs against the major currencies on Friday, extending its gains following a string of surprisingly strong US economic data over the...
China slams US textile quotas BEIJING, May 14: China on Saturday slammed a US decision to impose restrictions on Chinese textile exports, saying the move was a serious threat to the multi-lateral trading system and reserved...		US sees no need to renegotiate CAFTA MONTERREY, May 14: The Bush administration will not renegotiate a controversial free-trade pact with Central America despite strong opposition from labour groups and the sugar industry, US Commerce Secretary Carlos Gutierrez...
Oil prices dive below $48, gold slides on soaring US currency LONDON, May 14: World oil prices slumped below $48 per barrel this week amid a strengthening dollar, a further increase in US crude stockpiles and signs that Chinese and US demand...		First moot on Islamic financial markets RIYADH, May 14: The first International Islamic Financial Markets Conference (IIFMC) is scheduled to begin in Manama, Bahrain on Monday. The two-day event will address ways of establishing an effective Islamic...
Zero slab proposal rejected ISLAMABAD, May 14: The government has dropped a proposal to include zero per cent slab in the Pakistan customs tariff in the budget for 2005-06. An official told Dawn on Saturday...		Transfers, postings ISLAMABAD, May 14: The Central Board of Revenue has transferred and posted 10 senior officials of the customs and excise group. According to the notification, Khawaja Tanvir Ahmad has been transferred...
S. Arabia to privatize water sector RIYADH, May 14: Saudi Arabia said on Saturday it took a “milestone” step towards overhauling its wasteful, state-owned water sector and preparing it for complete privatization within a decade. Water and...		China cotton imports rise, global crop falls: USDA WASHINGTON, May 14: Global cotton production will decline by more than 10 percent in 2005/06, totaling just 107 million bales, although Chinese consumption will increase significantly, the US Agriculture Department said...