July 17, 2005	Sunday	Jumadi-us-Sani 9, 1426

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Controversy over margin financing defused KARACHI, July 16: The Advisor to the Prime Minister on Finance Dr Salman Shah on Saturday defused a controversy over margin financing which is expected to help the stock market rise from next week....		ECO agrees to sign FTA next year ISLAMABAD, July 16: Economic Cooperation Organization (ECO) has agreed to sign a Free Trade Agreement (FTA) in 2006 to facilitate greater trade and investment activities in the region....
House bill of lading may be eliminated KARACHI, July 16: The government is seriously considering to bringing about a change in the booking procedure of export consignments by freight forwarders and may suggest for the elimination of ‘house bill of lading’ which changes the title of the goods....		Rs151.4 billion projected for first quarter ISLAMABAD, July 16: The Central Board of Revenue (CBR) has projected Rs151.4 billion as revenue collection target for the first quarter (July-September) of the fiscal year 2005-06 as against Rs110 billion...
Emphasis on generating credible energy data growing ßRIYADH, July 16: Emphasis on generating credible energy data is growing. However, producing a data acceptable to all school of thoughts is an ominous task...		SBP seeks data on new format KARACHI, July 16: The State Bank has told banks and development finance institutions (DFIs) to submit weekly statements on a revised format from July 23. In a circular issued to all...
CBR clarifies WT on cash withdrawals ISLAMABAD, July 16: The Central Board of Revenue (CBR) has notified that 0.1 per cent withholding tax would not be levied on cash payment withdrawal from bank against home remittances from abroad....		Remittances reached $4.17bn in 2004-05 KARACHI, July 16: Overseas Pakistanis sent home $4.169 billion during the fiscal year 2004-2005. In the fiscal year 2003-04, they had repatriated $3.868 billion. According to data released by the State Bank, the $4.169...
Dr Shah, Omar Ayub visit KSE KARACHI, July 16: Prime Minister’s Adviser on Finance Dr Salman Shah and Minister of State for Finance Omar Ayub Khan, who held a brainstorming session at the State Bank to sort...		Refund against duty-paid stocks ISLAMABAD, July 16: The Central Board of Revenue said on Friday that exporters of the five zero-rated sector could only get refund or adjustment against their duty paid stocks used for making exports up to September 30, 2005....
Rs47.5bn collected as CED in 2004-05 ISLAMABAD, July 16: The Central Board of Revenue (CBR) has collected Rs47.5 billion as central excise duty (CED) on five items during the fiscal 2004-05 as against Rs41.4...		Oil bounty skyrockets Gulf bourses KUWAIT CITY, July 16: Capital markets in Gulf Arab states made an impressive 76 per cent rise in value to around one trillion dollars in the first half of 2005, on...
Dollar higher on US data NEW YORK, July 16: The dollar traded mainly higher on Friday after solid economic data reinforced the view that the US economy is on solid footing, although gains were tempered by tame inflation that may keep interest rates low....		New York cotton finishes lower NEW YORK, July 16: Cotton futures settled softer Friday on modest speculative sales as the market may be trying to build a base while players monitor the movement of Hurricane Emily toward southern Texas, analysts said....
Banks with A plus rating will enjoy guarantee ISLAMABAD, July 16: The Central Board of Revenue has decided to accept guarantee only from those banks which have A plus credit rating. A customs official told Dawn on Saturday that the decision was taken in a board-in-council meeting held recently....		COMEX gold bounces from six-week low NEW YORK, July 16: US gold futures finished a choppy session firmer and above fresh six-week lows on Friday, bolstered by speculative short covering before the weekend, dealers and analysts said....
US textile lawmakers press Bush for free trade agreement WASHINGTON, July 16: A small group of textile state lawmakers could reach a deal with the Bush administration as early as next week that would secure their vote for a free trade agreement with Central America, South Carolina Republican Rep....		Duty-free import of chicken meat demanded ISLAMABAD, July 16: The Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to allow duty-free import of chicken meat from neighbouring countries, including India, Iran, China and Sri Lanka, to arrest the constant increase in poultry prices....
Oil slides, rubber jumps to historic peak LONDON, July 16: World oil prices dropped this week on slightly easing supply concerns, while rubber bounced to record high points in Thailand and sugar jumped to fresh multi-year peaks on robust demand....		UAE in midst of asset boom: IMF WASHINGTON, July 16: The United Arab Emirates is in the midst of a real estate and asset price boom, fueled by strong economic conditions in the ME oil producer, the IMF said on Friday....