June 19, 2005	Sunday	Jumadi-ul-Awwal 11, 1426

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Banks raise Rs327bn deposits in July-May KARACHI, June 18: All local and foreign banks mobilized combined deposits of Rs327 billion in 11 months of this fiscal year primarily due to increased economic activity in the wake...		From ‘kundaas’ to Kanooz KARACHI, June 18: A story of the Karachi Electric Supply Corporation (KESC) has forever remained incomplete without the mention of ‘kundaas’. And now it is Kanooz. Until the evening of June...
Duty on 33 items revised upward ISLAMABAD, June 18: The government has raised customs duty on import of around 33 items in a bid to provide protection to local industries. Officials told Dawn on Saturday that duty...		China to import Pakistani rice BEIJING, June 18: A four-member delegation of Chinese experts will arrive Pakistan Monday to finalize deal for import of Pakistani rice. During its weeklong stay in Pakistan, the delegation will visit...
Reliance Group split between brothers MUMBAI, June 18: A bitter and unsavoury saga in India’s largest business family came to an end on Friday, when the widowed mother announced “an amicable resolution”, dividing the multi-billion-dollar...		CBR fails to meet ST collection target ISLAMABAD, June 18: The revenue collection under the head of sales tax declined by 4.95 per cent to Rs207.754 billion during the 11 months (July-May) of the current fiscal year...
Chinese textiles trade picks up BEIJING, June 18: Many Chinese textiles exporters have enjoyed better business since the country agreed with the European Union a week ago to limit sales, state media reported on Saturday,...		Sales tax on laundry soap revised ISLAMABAD, June 18: The government has withdrawn laundry soap from the list of 10 items to be subjected to 15 per cent general sales tax (GST) on printed retail price. ...
BD’s per capita debt increases 21 times DHAKA, June 18: Bangladesh’s share of loan in external resources swelled to 67.2 per cent in 2003-04 from 11.8 per cent in 1972-73, while the percentage of grant declined to 33.8...		Taxation pact ISLAMABAD, June 18: Pakistan and Bahrain will sign the draft convention for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income between the two...
R&D support for garment exports KARACHI, June 18: The State Bank has notified to all banks the government decision of providing research and development support for textile garments exports....		Oil markets enter high price era RIYADH, June 18: Despite the decision of the Opec oil ministers, who met in Vienna on Thursday, to increase their output ceiling and their readiness to do whatever...
Badla rates increase KARACHI, June 18: After having fallen into single-digit, carryover rates on the Karachi Stock Exchange during the previous week rose to 12.7 per cent from the previous 9.6 per cent, showing...		New York sugar NEW YORK, June 18: Raw sugar futures closed higher Friday on speculative fund buying, but steady producer sales kept the market on a tight leash although further gains may nudge values...
NY cotton settles higher NEW YORK, June 18: Cotton futures closed higher Friday as more switch dealings were seen from players getting out of July before the contract goes into delivery at the end...		UK firm to invest in BD coal mine DHAKA, June 18: London-based Asia Energy Corp said on Saturday it plans to invest $1.4 billion over the next three decades in a coal mine in northern Bangladesh....
Oil prices approach new record levels LONDON, June 18: Strong gasoline demand and heating oil supply concerns in the United States pushed world oil prices near to record levels this week, despite Opec’s decision to increase...		China’s economy growing above 9 per cent: Zhou JIMBARAN (Indonesia), June 18: China’s economy is still growing at more than 9 per cent annually, the central bank governor said on Saturday,...
Prices revised upward on cotton market KARACHI, June 18: Cotton prices on Saturday were revised upward by the official committee but they are still far below the rates at which the TCP is selling its stocks through...		Karachi Port operations KARACHI, June 18: Five ships carrying containers, chemicals and crude oil are due to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves...