May 22, 2005	Sunday	Rabi-us-Sani 13, 1426

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WLL, mobile operators trade charges KARACHI, May 21: Operators of Wireless Local Loop (WLL) have blamed the mobile phone operators for lobbying with the government to keep them on the limited mobility while mobile phone operators...		UBL share offer: too much hassle for too small gain KARACHI, May 21: In reducing the number of shares per applicant from 500 to 200 in the initial public offering (IPO) of United Bank Limited, the Privatization Commission has perhaps spread...
Exchange firms told to check dollar rise KARACHI, May 21: The State Bank has warned all foreign exchange companies to desist from promoting speculative dollar buying, which has widened the gap between official and open market exchange rates....		Rs82.5bn farm loans disbursed in 10 months KARACHI, May 21: In ten months to April this year, banks disbursed Rs82.54 billion worth of farm loans, which indicates they would exceed the initial target of Rs85 billion and might...
PICIC-bank merger next month LAHORE, May 21: Pakistan Industrial Credit and Investment Corporation Managing Director Mohammad Ali Khoja on Saturday said that PICIC and PICIC Commercial Bank would be merged next month and would launch...		Govt likely to levy agriculture income tax ISLAMABAD, May 21: The economic ministries appear to have reached near consensus to impose tax on agriculture income in the next budget to widen the existing narrow tax base. But the...
Rising trade deficit to weaken rupee KARACHI, May 21: As Pakistan’s trade deficit has soared in ten months of this fiscal year to $4.84 billion from $2.05 billion during the same period of this fiscal year, this...		EU seeks details on Chinese measures to limit textile exports BRUSSELS, May 21: The European Union wants to have more details about Chinese measures announced on Friday to limit its booming textile exports, the EU’s executive commission said. Facing the threat...
Oil prices fall sharply as US crude inventories hit six-year high LONDON, May 21: World oil prices fell sharply on global markets after official data showed crude inventories in the United States at their highest level for six years, allaying concerns over...		Iraq central bank combats inflation DEAD SEA, May 21: Iraq’s inflation rate may fall to 20 percent this year if sabotage attacks that deepened shortages in the economy ease, Central Bank governor Sinan al-Shabibi said on...
FDI inflow rises by 17.2pc in 10 months ISLAMABAD, May 21: The inflow of foreign direct investment (FDI) registered a 17.2 per cent increase during 10 months (July-April) of the current fiscal year over the same period last fiscal...		SBP polishes Prudential Regulations KARACHI, May 21: The State Bank has introduced some amendments to the definitions of the word “Group” and added a new paragraph to the explanation of “Liquid Assets” in Prudential Regulations...
Badla rates fall KARACHI, May 21: After having risen to 15 per cent, the average weighted carryover (badla) rates on the Karachi Stock Exchange last week fell to 12.4 per cent from the previous...		Korean firms invited for investment KARACHI, May 21: FPCCI President Mohammad Saeed has invited Korean companies to come in a big way to exploit enormous investment opportunities in Pakistan. He was talking to Sukchul Chang, the...
NY cotton futures lower NEW YORK, May 21: Cotton futures closed soft on Friday but bounced off a fresh three-month low as locals sold then covered short positions while underlying export business and call option...		Opec vows response to fast-changing oil market SHUNEH, Jordan, May 21: Opec president Sheikh Ahmed Fahd al-Sabah vowed at a World Economic Forum (WEF) meeting Saturday that the cartel will respond to new forces in the fast-changing oil...
EU trade chief wants services deal with Arab world DEAD SEA, Jordan, May 21: European Union Trade Commissioner Peter Mandelson said on Saturday he wanted to begin discussions with Arab countries on freeing trade in services as part of moves...		Suzuki website KARACHI, May 21: Information Minister Sheikh Rashid on Saturday inaugurated Pak Suzuki’s website and newsletter. He said present facilities and recent expansion at Pak Suzuki would substantially contribute to the growth...
Cotton market stays firmer KARACHI, May 21: Cotton market closed the weekend session on a steady note as stray business was reported at the higher rates and mostly at ginners’ options, brokers said. Cotton analysts...		Karachi Port operations KARACHI, May 21: Berthing activity at the wharves on the Karachi port on Saturday was maintained on the higher side where half a dozen ships were berthed. According to KPT sources,...