August 5, 2005	Friday	Jumadi-us-Sani 28, 1426

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SBP assures exporters of resolving issue: House Bill of Lading KARACHI, Aug 4: State Bank Governor Dr Ishrat Husain on Thursday assured exporters of resolving the issue of ‘House Bill of Lading’ being illegally issued by freight forwarders, resulting in change of title and ownership of export consignments....		India sees early sugar deals with Pakistan NEW DELHI, Aug 4: India expects to strike quick sugar deals in Pakistan which this week removed a four-year ban on imports from its old rival, traders said on Thursday....
PM to be briefed on EPB revamping ISLAMABAD, Aug 4: Prime Minister Shaukat Aziz will decide on Friday the re-structuring plan of the Export Promotion Bureau (EPB), which had been delayed due to differences of the bureau chairman and commerce ministry over the proposed new organizational structure....		BoE cuts rates, ECB leaves unchanged LONDON, Aug 4: The Bank of England (BoE) cut its key interest rate by a quarter of a percentage point to 4.50 per cent on Thursday, citing possible inflationary risks and subdued economic growth during the first half of 2005....
Euro hits two-month high vs dollar LONDON, Aug 4: The euro climbed to its highest level against the dollar in two months on Thursday, breaking through 1.24 dollars for the first time since the end of May,...		Oil jumps on petrol supply concerns LONDON, Aug 4: World oil prices gained more than a dollar on Thursday amid concerns about levels of gasoline, or petrol, supplies, traders said. New York’s main contract, light sweet crude for delivery in September, climbed one dollar to $61.86...
Pakistan signs tax treaty with Austria ISLAMABAD, Aug 4: Pakistan and Austria on Thursday signed a convention for the avoidance of double taxation and fiscal evasion with respect to income between two countries....		Mining sector to get Rs5.8bn ISLAMABAD, Aug 4: The government has planned to spend Rs5.8 billion to strengthen the mineral sector of the country during the next five years. “The major expenditures would be on...
Index sheds 37 points on active profit-selling KARACHI, Aug 4: Stocks on Thursday reacted from the recent highs on active profit-selling at the inflated levels on all blue chip counters triggered by reports that the task force on stock market crash has released its report on the issue....		Cotton market lacks lustre KARACHI, Aug 4: Trading on the cotton market on Thursday remained insipid as leading spinners adhered to the sidelines apparently awaiting fresh date and number of bales for the TCP auction....
BD admits economy not in good shape DHAKA, Aug 4: Bangladesh’s Finance and Planning Minister M Saifur Rahman has admitted for the first time that the country’s economy is severely strained, due mainly to problems in balance of...		Gulf Arab states to invest $360bn abroad DUBAI, Aug 4: Gulf Arab governments and private investors are likely to buy over $360 billion of foreign assets in 2005 and 2006, financed by record oil revenues, according to a report by the Institute of International Finance (IIF)....
China to further revalue yuan BEIJING, Aug 4: China’s central bank said on Thursday that it would make further adjustments to the yuan at an appropriate time, signalling that more changes to the currency would be forthcoming after a 2.1...		Gold dips in Europe amid thin trading LONDON, Aug 4: Gold drifted lower in thin volumes in Europe on Thursday closely following the euro’s performance, but an upturn in the single currency could take bullion prices towards $440 an ounce, traders and analysts said....
Airblue to buy 10 Airbus aircraft ISLAMABAD, Aug 4: Private Indian airlines had sought permission to start operations to Pakistani destinations, Prime Minister Shaukat Aziz said here on Thursday. Speaking at the signing ceremony of a $790...		PTCL workers accept Rs5bn package ISLAMABAD, Aug 4: The PTCL Workers Unions Action Committee here on Thursday announced that it had resolved its differences with the management over the privatization of the company and had accepted a package of over Rs5 billion in the “national interest”....
Asian stocks close lower HONG KONG, Aug 4: Asian stocks closed modestly lower on Thursday with profit taking pushing many markets off multi-year highs amid concerns over an interest rate hike in the US, dealers said....		Palm oil off 5-month lows KUALA LUMPUR, Aug 4: Malaysian crude palm oil futures bounced off 5-1/2-month lows but remained weak on Thursday, weighed down by losses in main rival US soyaoil....
Karachi Port operations KARACHI, Aug 4: Six ships carrying DAP fertilizer, logs and containers are expected to arrive at the outer anchorage on Friday, according to KPT sources. Berthing activity at the wharves was maintained on the higher side where seven vessels were berthed....		Port Qasim KARACHI, Aug 4: Three ships carrying containers and edible oil were berthed at QICT and MPT during the last 24 hours, said a PQA press release on Thursday....