July 7, 2005	Thursday	Jumadi-ul-Awwal 29, 1426

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Textiles export up 10pc in 5 months: Quota phase out KARACHI, July 6: After a brief uncertain period following the phase out of textile quota from January 2005, Pakistan’s textiles have managed to gain a foothold in the world export market,...		Oil price hike belittles monetary tightening KARACHI, July 6: The State Bank on Wednesday raised treasury bills yields modestly reinforcing earlier signals that it would stabilize interest rates for economic growth but continue a slight tightening to check inflation....
Standoff between traders, officials continue in Sust GILGIT, July 6: The weeklong tussle between the Northern Areas traders and officials of district monitoring team (DMT) over the clearance of imported goods remained unresolved at the Sust border customs check-point despite hectic efforts made by the mediators....		Free imports help check prices of essentials ISLAMABAD, July 6: The prime minister’s committee on prices in its meeting chaired by Dr Salman Shah, Adviser to PM on Finance and Revenue, here on Wednesday reviewed the prices of essential commodities, food items and petroleum products....
Stocks finish with extended gain of 13 points KARACHI, July 6: Stocks on Wednesday finished with an extended gain but trading lacked normal interest as investors played on both sides of the fence apparently awaiting some positive official announcement on the widely-rumoured parallel COT market....		Cotton market lacks luster KARACHI, July 6: Physical trading on the cotton market remained at low ebb on Wednesday, but unconfirmed reports said some of local spinners lifted stray lots from upper Sindh ginners....
Financial adviser for PS sell-off appointed ISLAMABAD, July 6: The Privatization Commission has decided to appoint a consortium of three companies to act as financial adviser for the privatization of Pakistan Steel by December 31, 2005....		Sectoral road-maps KARACHI, July 6: Export Promotion Bureau Chairman Tariq Ikram has said that the quantum jump in exports is only possible when there is a road-map for each sector envisaging all facilities,...
Exporters to lose millions in ST refund claims KARACHI, July 6: Exporters will lose millions of rupees in sales tax refund claims following the issuance of SRO 538(I)/2005 by the Central Board of Revenue that denies any refund claims after June 30, 2005....		OGDCL gets two exploration licences ISLAMABAD, July 6: The government on Wednesday granted two petroleum exploration licences over block Nos 2565-I (Samandar) and 3371-II (Dhok Sultan) to Oil and Gas Development Company Limited (OGDCL)....
NRL share purchase agreement today ISLAMABAD, July 6: The share purchase agreement signing ceremony for the sale of 51 per cent equity stake in National Refinery Limited to the Attock Oil Group of Companies will be held on Thursday (today) at 2.30pm...		Farm subsidies EDINBURGH, July 6: WTO leader Supachai Panitchpakdi warned on Wednesday there was “no agreement in sight” for removing the Western farm subsidies that present trade barriers to African and developing countries....
Edible oil prices may fall KARACHI, July 6: The country’s edible oil imports remained high over the past week amid soft international prices, and dealers said on Wednesday that rising domestic stocks could push the local prices lower in the coming weeks....		Saudi Arabia to build new industrial city RIYADH, July 6: Saudi Arabia is setting up a new industrial city that could attract investments of up to $30.6 billion and could herald a new era of industrial development in the oil rich kingdom....
Bahrain ratifies free trade pact with US RIYADH, July 6: Bahrain’s parliament ratified on Wednesday a controversial free trade agreement with the US, the first between Washington and a Gulf Arab state that had already generated much heat with Saudi Arabia....		Nestle unveils investment plan KARACHI, July 6: Nestle Pakistan, a subsidiary of Nestle S.A. Switzerland, has planned to invest $371 million up to the year 2014 under a long term investment plan....
Tea auction NAIROBI, July 6: Prices for Kenyan tea ended mixed at this week’s auction despite a slight rise in the quality of some grades, traders said on Wednesday....		Karachi Port operations KARACHI, July 6: Seven ships carrying coal, DAP fertilizer and general cargo are expected to arrive at the outer anchorage on Thursday, according to KPT sources....