June 16, 2005	Thursday	Jumadi-ul-Awwal 8, 1426

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Inflation rises by 9.33pc in July-May KARACHI, June 15: Inflation measured by consumer price index (CPI) rose by an average 9.33 per cent during July-May 2004-05 up from 4.22 per cent in the same period...		Opec adopts two-prong plan to cool prices VIENNA, June 15: Opec adopted a two-pronged plan to tackle high oil prices and supply problems on Wednesday, raising the cartel’s oil production ceiling next month and promising another increase later...
Remittances move up to $3.81 billion KARACHI, June 15: Overseas Pakistanis sent home $3.81 billion in eleven months of this fiscal year i.e. between July 2004 and May 2005. During the same period of the last fiscal...		Pakistan, Australia sign MoU: Share business ISLAMABAD, June 15: The Australian Securities and Investments Commission (ASIC) and the Securities and Exchange Commission of Pakistan (SECP) have singed a memorandum of understanding (MoU)...
Stocks resume upward drive after PTCL deal KARACHI, June 15: Stocks on Wednesday staged a smart recovery on active short-covering in the leading oil shares followed by reports of end of strike by a section of PTCL union...		NIT to post ‘better than expected’ results KARACHI, June 15: The National Investment Trust (NIT) would post ‘better than expected’ results for the financial year ending June 30, 2005, NIT Chairman & Managing Director Tariq Iqbal Khan told...
0.5pc buyers visit Utility Stores KARACHI, June 15: The 360 countrywide outlets of the Utility Stores Corporation are insufficient to cater to the daily and monthly demand of over 150 million population...		Members press WTO over Chinese textiles GENEVA, June 15: Developing countries claiming that rising Chinese exports are driving them out of the global textile market pushed for help from the World Trade Organization on Wednesday,...
Oil surges above $56 LONDON, June 15: World oil prices soared on Wednesday as the market was unsettled by mixed data on US crude inventories despite the Opec decision to raise its official production ceiling....		Snow for correcting current imbalances PARIS, June 15: US Treasury Secretary John Snow said on Wednesday that the United States saw the correction of global current account imbalances as a “shared responsibility” among the world’s leading...
Lint buyers eyeing TCP’s next auction KARACHI, June 15: Quietly steady trading conditions prevailed on the cotton market on Wednesday as leading spinners and mills remained busy in the paper work for the TCP’s June 17 auction....		PHDB seeks concessions in trade policy ISLAMABAD, June 15: Pakistan Horticulture Development Board (PHDB) has sought more concessions in Trade Policy 2005-06 — expected to be announced on June 22 — including provision...
Energy bill WASHINGTON, June 15: US President George W. Bush on Wednesday urged the divided US Congress to approve his long-stalled energy bill, while acknowledging that it would not soon drive down ...		US industry WASHINGTON, June 15: US industrial production climbed 0.4 per cent in May, the Federal Reserve said on Wednesday. The report on the output of US manufacturing, mining and utilities was stronger...
Asian stocks higher HONG KONG, June 15: Asian stocks disregarded a modest overnight rise by Wall Street and made solid gains on Wednesday with South Korea, Indonesia and the Philippines outperforming...		Palm oil lower KUALA LUMPUR, June 15: Malaysian palm oil prices fell on Wednesday, reversing the uptrend of the last two days, after export estimates for the first half of the month fell short...
Karachi Port operations KARACHI, June 15: Seven ships including a car carrier with 1,260 units are due to arrive at the outer anchorage on Thursday, according to KPT sources. Berthing activity at the wharves...		Port Qasim KARACHI, June 15: Two ships carrying edible oil arrived at the outer anchorage during the last 24 hours, said a PQA press release on Wednesday. Meanwhile, berthing was slow...