June 9, 2005	Thursday	Jumadi-ul-Awwal 1, 1426

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Levies cut to 15pc to discourage smuggling ISLAMABAD, June 8: The government has reduced all duties and taxes on all smuggled prone items including cloth to an average 15 per cent from 50 per cent to discourage smuggling....		Flour, sugar prices crawling up KARACHI, June 8: Contrary to the government’s claim of providing cheap atta to the consumers, the new budget, instead of proving people-friendly, is now turning out to be anti-people as price...
Rumour-mongers deprive index of 128 points KARACHI, June 8: Stocks on Wednesday failed to extend the overnight run up as follow-up support turned shy amid conflicting rumours, which followed in quick succession never allowing investors to take...		Textile sector profitability up by 77pc KARACHI, June 8: Textile sector profitability during the first half (October 2004-March 2005) of the current financial year stood at Rs2.78bn as compared to Rs1.58bn in the corresponding period of the...
State Bank sells Rs108.6bn TBs: Modest increase in yields KARACHI, June 8: After raising interest rates too quickly in April-May, the State Bank has reverted to its earlier stance of gradual hiking to ensure that its fight against inflation does...		Dullness prevails on cotton market KARACHI, June 8: Cotton market on Wednesday lacked normal trading interest as spinners and mills kept to the sidelines awaiting fresh developments on the world cotton scene after the fall of...
KSE terms budget growth-oriented KARACHI, June 8: The Board of Directors of the Karachi Stock Exchange has termed the budget 2005-06 as investors-friendly and growth-oriented. A KSE press release stated that the Board, which met...		Investment KARACHI, June 8: Mobilink has planned to invest $500 million in 2006 in the over-heated mobile phone sector. The company’s capital investment has surpassed $1 billion during its 11 years of...
24 inputs duty cut to zero ISLAMABAD, June 8: The government has proposed reduction of customs duty to zero per cent on import of 24 inputs — materials and accessories used in export oriented textiles, leather and...		Duty on vaccines reduced ISLAMABAD, June 8: The government has reduced customs duty from 10 per cent to 5 per cent on import of 10 types of vaccines and medicines. The reduction in rates was...
Oil prices rise as US inventories dip sharply LONDON, June 8: World oil prices rebounded on Wednesday after a surprise report from the United States’ Department of Energy (DoE) showed crude stocks dropped sharply, dealers said. New York’s main...		Dollar steady LONDON, June 8: The dollar held steady at lower levels against the euro on Wednesday as players treaded water on the eve of US Federal Reserve Chairman Alan Greenspan’s testimony on...
No more wheat imports SINGAPORE, June 8: Pakistan will not import more wheat this year following a bumper domestic harvest that has helped lift domestic stocks to comfortable levels, a senior Pakistani government official said....		Oilfield project KUWAIT CITY, June 8: A Kuwaiti parliamentary committee on Wednesday approved a huge oilfield development project which has been held up for years because of the need for massive foreign investment....
US GDP forecast WASHINGTON, June 8: The White House on Wednesday projected US economic growth for 2005 of 3.4 per cent, down just slightly from its 3.5 per cent forecast made last December. The...		Karachi Port operations KARACHI, June 8: Three ships carrying jute, crude oil and to load molasses are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the...