June 2, 2005	Thursday	Rabi-us-Sani 24, 1426

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Banks increase lending rates KARACHI, June 1: The State Bank’s decision to intensify tightening of interest rates in April led banks to increase their own lending rates by 20 basis points on an average. The weighted average lending rate of all the banks combined rose to 7.49 per cent at end-April 2005 from 7.29 per cent...		Industries suffer production losses KARACHI, June 1: Industries in Karachi suffered production losses on Wednesday, in some cases up to 60 per cent, on account of thin attendance of workers, especially in the morning shift, ...
Cement sales stand at 14.802m tons KARACHI, June 1: Sales of cement in May 2005 stood at 1.425 million tons, and the eleven months (July 2004 to May 2005) sales aggregated to 14.802 million tons. Figures released...		Feasibility study on Thar coal completed KARACHI, June 1: Sindh Mines and Mineral Development Minister Irfan Marwat has said that the bankable feasibility study on Thar coal has been successfully completed by German company Rheinbraun Engineering and...
Line losses of Wapda, KESC move up ISLAMABAD, June 1: The line losses of power utilities — Wapda and KESC — increased by 4.37 per cent and 1.1 per cent, respectively, during the third quarter (January-March) of the...		Australia liberalizes services sector ISLAMABAD, June 1: The Australian government has further liberalized services sector for developing countries, including Pakistan, by allowing the temporary entry and stay to business people for providing services in that...
Cotton pricing policy KARACHI, June 1: All Pakistan Textile Mills Association Chairman Arif Saeed has again drawn attention of the government towards what he alleges the discriminatory condition of sale of cotton by the...		UBL public offering tomorrow ISLAMABAD, June 1: The subscription for initial public offering of United Bank Limited shares will open on June 3 (Friday), which will remain open till June 8 during banking hours, says...
Packages for textile, auto industries under study ISLAMABAD, June 1: The federal government has finalized a number of proposals for the budget 2005-06, which include two separate comprehensive packages for the development of textile sector and rationalization of...		Eurozone economic recovery running out of steam BRUSSELS, June 1: The eurozone economy got off to a sluggish start to this year, EU data released Wednesday showed, providing further evidence that a long-awaited recovery is running out of...
Rs494.2bn collected in July-May ISLAMABAD, June 1: The Central Board of Revenue (CBR) collected Rs494.2 billion revenue during the 11 months (July-May) of the current fiscal year as against the target of Rs502.4 billion, falling...		EU mulls Microsoft proposal to end row BRUSSELS, June 1: The European Union on Wednesday began studying proposals from Microsoft to end an antitrust row that has seen it threatened with heavy fines. The European Union’s executive commission...
KSE 100-share index crosses 7,000-point barrier KARACHI, June 1: The KSE 100-share on Wednesday breached through the psychological barrier of 7,000 points on fresh strong buying in the leading base shares aided by the news of the...		Dull conditions on cotton market KARACHI, June 1: Cotton market on Wednesday passed through a dull session as spinners and mills did not make fresh offers apparently awaiting the TCP auction on Jun 4. In its...
Karachi Port operations KARACHI, June 1: Five ships carrying DAP fertilizer, containers and to load ethanol are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the...		Opec may not increase ceiling KUWAIT CITY, June 1: Opec’s president Sheikh Ahmed Fahd al-Sabah said on Wednesday that the oil producing cartel will most likely maintain current output levels at its next meeting set for...
Asian stock markets close mixed HONG KONG, June 1: Asian stocks closed mixed on Wednesday with overnight falls on Wall Street weighing on sentiment but losses were minimal with investors opting to cash-up on recent gains....		Gold prices at 15-week low LONDON, June 1: Gold sat near its lowest in almost four months on Wednesday in Europe as the euro hit its lowest in more than seven months on worries about stability...
Malaysian palm oil prices KUALA LUMPUR, June 1: Malaysian crude palm oil futures fell more than one per cent on Wednesday on a cocktail of concerns, from surging output to weak prices of rival soyaoil...		Palm oil imports KARACHI, June 1: Pakistan’s edible oil market has been stable in the past week amid slow imports, but prices are expected to come under pressure from falling international prices in coming...