July 5, 2005	Tuesday	Jumadi-ul-Awwal 27, 1426

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1.5m people without jobs in rural Sindh KARACHI, July 4: A recent survey has found unemployment ratio in Karachi men aged between 15 and 24 years at 33 per cent and it is 26 per cent in rest of Sindh....		$3.5 billion FDI target being set for ’05-06 ISLAMABAD, July 4: The government plans to set $3.5 billion Foreign Direct Investment (FDI) target for 2005-06, which would not be a problem to achieve....
Cement prices may stabilize at Rs275 KARACHI, July 4: The State Bank has invited applications from all rating companies that are interested in becoming external credit assessment institutions or ECAIs and meet the criteria it has outlined for this purpose....		381 firms registered in June ISLAMABAD, July 4: The Securities and Exchange Commission of Pakistan registered 381 companies in June 2005 as compared to 269 companies registered during the corresponding period last year, showing a 41 per cent increase....
Oil prices extend weekend rally LONDON, July 4: World oil prices rose in London on Monday, after making huge gains the previous Friday on expectations of a big rise in petrol, or gasoline, consumption during the long US holiday weekend....		Bids for buying 300 bulldozers opened... ISLAMABAD, July 4: The government on Monday opened bids for the procurement of 300 bulldozers on supplier’s credit to bring about 219,375 hectares of wasteland under cultivation in Balochistan and NWFP.
New rules for input tax credit utilization ISLAMABAD, July 4: The Central Board of Revenue has issued new procedures to allow manufacturers’ utilization of the input tax credit in subsequent three tax periods....		Rise in oil price poses risk to EU growth STRASBOURG, July 4: European Central Bank President Jean-Claude Trichet expressed concern on Monday that a fresh rise in oil prices might hurt the outlook for euro zone economic growth....
Stocks shed 56 points on mid-session profit-selling KARACHI, July 4: Stocks on Monday failed to sustain earlier run-up and finished reacted on mid-session profit-selling amid conflicting reports about the extension in phasing out of Carry Over Trade (COT)....		Karachi Port operations KARACHI, July 4: Seven ships carrying containers and to load 200 tons of frozen fish are due to arrive at the outer anchorage on Tuesday, according to KPT sources....
Progress on WTO services talks still too slow GENEVA, July 4: Talks on liberalising global commerce in services as part of a wider treaty have picked up pace, but progress is still too slow, a senior World Trade rganization official said on Monday....		Trading remains slow on cotton market KARACHI, July 4: Trading on the cotton market on Monday resumed on a sluggish note as spinners and mills remained conspicuous by their absence awaiting the outcome of bids against the TCP lint auction for well over 0.9m...
Farm subsidies BRUSSELS, July 4: The European Union welcomed on Monday the “apparent willingness” of US President George W. Bush to overhaul farm subsidies in his country if the EU does the same....		European steel makers cut output PARIS, July 4: European steel manufacturers have reduced their production levels in 2005 in response to a global slowdown in demand and an increase of production capacity in China, the main export market during the record year of 2004....
Pakistan may buy sugar this week KARACHI, July 4: Pakistan, struggling to rein in sugar prices, will aim to buy up to 100,000 tons of refined sugar this week but Indian supplies won’t be considered for these...		Fuel surcharge PARIS, July 4: Air France, following the lead of other airlines around the world, said on Monday it was hiking its fuel surcharge on passenger tickets to offset increased costs due to the high price of oil....
Thai rice futures trade hits record low BANGKOK, July 4: Not a single Thai rice futures contract was traded on Monday as investors waited for the government to decide what to do with its huge stocks, brokers said. ...		Asian stocks close mixed HONG KONG, July 4: Asian stocks closed mixed to easier on Monday, marking time after recent solid gains and finding no lead in modest summer trade despite solid US economic data last week, dealers said....