June 17, 2005	Friday	Jumadi-ul-Awwal 9, 1426

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Tax-free zones in Gwadar planned: Wooing foreign investment ISLAMABAD, June 16: The government has decided to allow China and South Korea to set up their tax-free special industrial development zones (SIDZs)...		Exchange companies hoarding dollars KARACHI, June 16: Some leading exchange companies have hoarded dollars anticipating a rise in its price to earn windfall gains. People complain that these companies are not selling cash dollars beyond...
CCoP to take up KESC issue KARACHI, June 16: The privatization of the Karachi Electric Supply Corporation (KESC) is becoming a big question mark, as the highest bidder of 73 per cent shares of the utility...		Stock market probe findings to be made public HYDERABAD, June 16: Securities and Exchange Commission of Pakistan Chairman Dr Tariq Hassan on Thursday said that terms of reference of the government-appointed task force to probe stock...
Stocks shed 157.82 points on uncertainty over PTCL KARACHI, June 16: Stocks on Thursday again turned lower as investors appear to be in no mood to make fresh commitments until the standoff on the PTCL...		Powdered milk price goes up by Rs20 KARACHI, June 16: A leading powdered milk company has raised the price of its one kg pack by Rs20. Similarly, the price of imported powdered milk has also registered increase...
SBP issues instruction to exchange companies KARACHI, June 16: The State Bank has instructed foreign exchange companies not to send foreign exchange abroad on behalf of individuals or corporates if these remittances are not on personal accounts...		Oil rises amid supply worries LONDON, June 16: World oil prices continued to rise on Thursday after surging the day before when official data showed a drop in US crude inventories, sparking supply worries despite Opec’s...
KSE suspends provisional trading in UBL shares KARACHI, June 16: The Karachi Stock Exchange (KSE) suspended provisional trading in shares of United Bank Limited (UBL) w.e.f. Thursday, June 16. In a notice issued on Thursday,...		PICIC’s margin financing facility KARACHI, June 16: Pakistan Industrial Credit and Investment Corporation (PICIC) on Thursday announced that it had launched Rs2 billion margin financing facility for members of the Karachi Stock Exchange...
G77 creates fund for development DOHA, June 16: Third World countries ended their summit here on Thursday with a call on rich nations to boost aid and the creation of a development fund with an initial...		Gazprom MOSCOW, June 16: Russian natural gas giant Gazprom announced on Thursday it had accepted the government’s price of $7.1 billion for an additional 10.7 per cent share of the company,...
US economic growth FRANKFURT, June 16: US Treasury Secretary John Snow said on Thursday the outlook for the US economy was one of “continued robust expansion”. Snow told a news conference that,...		Cotton market shows firm trend KARACHI, June 16: Cotton market on Thursday showed firm trend as a section of spinners sought supplies from the ginners to cover their immediate consumption needs...
Airline’s 1st anniversary KARACHI, June 16: The AirBlue airline will celebrate completion of its first year of operation on June 18. It has organized a number of events for the occasion. This was stated by the airline’s director commercial...		Tax opposed KARACHI, June 16: Chief Executive Officer of Telecard Limited, operator of WLL service, Fazal Hussain has said that the tax on WLL phone services in the 2005-2006 budget was “most unfortunate,”...
Palm oil up KUALA LUMPUR, June 16: Malaysian palm oil rose 1.5 per cent after a rally in rival soyaoil but the key resistance of 1,400 ringgit a ton was unbroken with players showing...		Karachi Port operations KARACHI, June 16: Eleven vessels including those whose arrivals were delayed are due to arrive at the outer anchorage on Friday, according to KPT sources. Berthing activity at the wharves...