May 31, 2005	Tuesday	Rabi-us-Sani 22, 1426

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Shipping lines hike freight charges KARACHI, May 30: Members of major conference lines operating in and out of country’s ports have increased freight charges on an average of 25 per cent under GRI (General Rates Increase)...		Pakistan submits initial offers list to WTO: Opens all major sectors to FSPs ISLAMABAD, May 30: Pakistan has submitted initial offers list to the WTO Secretariat by opening up almost all major sectors and sub-sectors to foreign services providers (FSPs) aimed at increasing the...
Govt borrows Rs32.9 billion from banks KARACHI, May 30: The government sector borrowing from the banking system reached Rs32.9 billion on May 14, one-and-a-half months before the close of the financial year on June 30. The full...		Car bookings on cash being discouraged KARACHI, May 30: Authorized car dealers, on the instructions of car assemblers, are discouraging bookings on cash basis and preferring orders by corporate, multinationals, leasing companies and banks. Assemblers have allocated...
Bidding for NRL today ISLAMABAD, May 30: The Privatization Commission has finalized all arrangements to hold bidding for the sale of 51 per cent (33,985,788) equity stake in National Refinery Limited, together with management control,...		China scraps export tariffs on 81 textile categories BEIJING, May 30: China will abolish export tariffs on 81 categories of textile products, while scheduled tariff increases on 74 categories of textiles will also be scraped, the ministry of finance...
PC gets payment for PAFL shares ISLAMABAD, May 30: The Privatization Commission (PC) has received the first instalment of Rs3.348bn (25 per cent) of the highest offer of Rs14.125 billion for selling 74,306,100 shares of Pakarab Fertilizers...		New trade policy discussed ISLAMABAD, May 30: New Trade Policy for 2005-06 was discussed in the Inter- Ministerial meeting chaired by Commerce Minister Humayun Akhtar Khan here on Monday. Textile Minister Mushtaq Ali Cheema, Commerce...
Karachi Garment City board KARACHI, May 30: The ministry of textile industry has constituted a 17-member board of directors of the Karachi Garment City Company. Out of these, two representatives will be from the federal...		Trade with Sierra Leone discussed ISLAMABAD, May 30: Commerce Secretary Tasneem Noorani called on Sierra Leone’s Foreign Minister Mondodu Koroma and Trade and Industry Minister Ms Kadi Sasey and discussed with them promotion of trade and...
FPCCI suggests uniform tax law: Budget proposals ISLAMABAD, May 30: The Federation of Pakistan Chambers of Commerce and Industries (FPCCI) has asked the government to implement a uniform tax law throughout the country with equitable and fair taxes...		China ready for flexible yuan: IMF SANTIAGO, May 30: China is technically ready to move to a flexible exchange rate, IMF chief Rodrigo Rato said at a news conference in Chile on Monday, reiterating the multilateral agency’s...
Euro falls on selling from US traders PARIS, May 30: The euro fell sharply on Monday as traders in the United States came into the market to sell the currency a day after the resounding French rejection of...		Turkey’s trade gap widens ANKARA, May 30: Turkey’s trade deficit widened by 17.8 per cent to $12.1 billion in the first four months of 2005 from $10.3 billion in the same period last year, the...
Stocks recover 240 points on likely budget incentives KARACHI, May 30: The downward drift on the stock market on Monday was halted as investors covered positions in the energy shares at the attractively lower levels, but the light volume...		Lint prices rise as demand picks up KARACHI, May 30: Trading on the cotton market on Monday resumed on a firm note as ginners raised their asking prices owing to sudden pick up in mill demand. Unlike the...
Karachi Port operations KARACHI, May 30: Four ships including two tankers carrying 20,000 tons of palm oil are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at...		Port Qasim KARACHI, May 30: Four vessels carrying containers, chemicals and diesel oil were berthed at QICT, MPT, EVT and Fotco Oil Terminal during the last 24 hours, said a PQA press release...
Asian stocks close higher HONG KONG, May 30: Asian stocks followed Wall Street’s lead and closed in higher territory on Monday with Hong Kong, Singapore, Japan and South Korea among the best performers....		Palm oil lower KUALA LUMPUR, May 30: Malaysian crude palm oil futures ended down on Monday in razor-thin trade after reacting to a weak soyaoil and talk of uninspiring export numbers for May....