July 31, 2005	Sunday	Jumadi-us-Sani 23, 1426

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Import of sugar from India may be allowed ISLAMABAD, July 30: The government is considering allowing duty-free import of raw sugar from India to discourage the hoarding of the commodity that creates an artificial price-hike in the local market....		Export-import trade of wheat, flour booms KARACHI, July 30: A bulging foreign exchange reserves close to $13 billion has given an immense confidence to the government and the traders to explore import-export trade of the most strategic...
Pakistan offers great potential for investment KARACHI, July 30: State Minister for Commerce, Mir Hamid Yar Hiraj on Saturday invited foreign investors to join very liberalised and promising economy of Pakistan. Foreign investors could purchase any public sector organization and could repatriate the profits and principal amount....		Pakistani goods may lose share in Lanka market ISLAMABAD, July 30: Pakistan will face difficulties in getting maximum share in the Sri Lankan market under the free trade agreement (FTA) because of import of goods at preferential duties from India, says an official report....
Farm talks: inclusion of small crops in SPs list urged ISLAMABAD, July 30: Pakistan should select a rang of small crops as special products (SPs) under the forthcoming WTO negotiations on agreement on agriculture to protect them against cheaper imports....		Six banks keep 65.5pc of total deposits KARACHI, July 30: Deposits of all the 38 local and foreign banks operating in Pakistan recorded a huge increase of Rs40.3 billion during January-March 2005, according to data released by the State Bank....
MoU for coalfield development signed KARACHI, July 30: A memorandum of understanding has been signed between the Sindh Coal Authority and a Chinese firm, China National Machinery Import and Export Corporation (CMC), for development of the Sonda-Jherruk coalfield for power generation....		SECP wants to improve financial analysis KARACHI, July 30: The Securities and Exchange Commission of Pakistan (SECP) is conscious of the need for reform among financial professionals and firmly committed to bringing about dynamism and professionalism among them....
Zarai Bank working to be redefined ISLAMABAD, July 30: The President, Zarai Taraqiati Bank Limited (ZTBL), Rasheed Akhtar Chughtai on Saturday urged the need of introducing some radical and catalyst changes in the bank’s structure to make it a farmers-friendly institution....		Badla rates fall KARACHI, July 30: The weighted average badla rates on the Karachi Stock Exchange during the last week fell to 11.4 per cent from 14.4 per cent the previous week because of...
IMF warns high oil prices may hurt US economy WASHINGTON, July 30: The International Monetary Fund expressed confidence on Friday for short-term US economic prospects but warned of several challenges ahead, including high oil prices....		Portman optimistic about global trade pact GENEVA, July 30: The United States is optimistic that a global trade pact can be struck in Hong Kong later this year despite the failure to meet a July target for interim accords, its top trade official said on Friday....
World oil prices soar, metals shine LONDON, July 30: Oil prices surged to $61 per barrel in New York this week after a series of fires and explosions at refineries and platforms in the United States, the world’s biggest consumer of energy, and India....		United States Senate passes energy bill WASHINGTON, July 30: The US Senate on Friday passed a mammoth energy bill packed with billions of dollars in industry subsidies, as critics claimed the measure did little to wean gas-guzzling consumers off imported oil....
Cotton market rules firm KARACHI, July 30: Cotton market on Saturday showed firm trend because of fresh rain in the lower Sindh cotton growing areas which has slowed down the arrivals of new crop phutti into the ginneries....		Allianz rejects merger with Deutsche Bank FRANKFURT, July 30: German insurer Allianz, which owns Dresdner Bank, has ruled out a merger with Deutsche Bank, Allianz Chief Executive Michael Diekmann told German weekly magazine Der Spiegel....
Transfers, postings ISLAMABAD, July 30: The Central Board of Revenue has transferred and posted 23 commissioners of income tax (CIT). According to the notifications issued on Friday, Irfan Nadeem Syed has been posted...		No change in finance rate KARACHI, July 30: The State Bank said on Saturday it would keep export refinance rate unchanged at 7.5 per cent in August. Hence, the maximum rate at which banks will offer...
Karachi Port operations KARACHI, July 30: Eight ships carrying tallow and containers are due to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was active where...		Port Qasim KARACHI, July 30: Cargo handling was steady at the port where a total tonnage of 48,654 tons comprising 27,778 tons of import and 20,876 tons of export cargo was handled during...