August 7, 2005	Sunday	Rajab 1, 1426

Please Visit our Sponsor (Ads open in separate window)

All about ‘dhobi’ brokers and ‘wash trades’ KARACHI, Aug 6: That almost sounds like the story of a laundry. But the report of the Task Force on stock market crisis of March 2005 uses those words which a student of finance and capital market would never be able to find in text books. These are ‘home-coined’....		Powers of agencies may be revoked: Checking smuggling ISLAMABAD, Aug 6: The government has decided to revoke the customs powers delegated to several agencies in prevention of smuggling across the country....
Mounting education cost hurting middle class KARACHI, Aug 6: The new academic session has kicked off with severe shortage of books forcing parents to pay 50-100 per cent more for private publishers’ books and 15-20 per cent...		IT department working comes to a halt KARACHI, Aug 6: Working at the local income tax department has come to a halt, as the offices of corporate, southern region of income tax and directorate of training are being shifted to temporary premises located at three different places....
Govt to sell 51pc shares of NIT KARACHI, Aug 6: The privatization of National Investment Trust (NIT) is in an advanced stage and the government will privatize its 51 per cent management share soon....		BD remittances grow faster than Pakistan KARACHI, Aug 6: In the last fiscal year ending in June 2005, net remittances from overseas Pakistanis rose to $4.153 billion from $3.826 billion a year earlier, thus showing an increase of 8.5...
Local making of ginning machinery under study ISLAMABAD, Aug 6: The government is considering various measures to develop a system for local manufacturing of ginning machinery. An official told Dawn on Saturday that the local manufacturing of ginning machinery would help reduce its prices....		New SME policy by Sept-end LAHORE, Aug 6: Federal Industries and Production Secretary Suleman Ghani has said that the government is finalizing the SMEs policy which would be in place by the end of September....
Pakistan, India to discuss trade ISLAMABAD, Aug 6: Pakistan and India will start the second-round of negotiations for removing tariff and non-tariff barriers that restricted the flow of trade between the two countries....		Indian team to visit China for oil talks NEW DELHI, Aug 6: An Indian delegation will head to China next week to explore ways to cooperate in acquiring foreign energy assets to meet the soaring fuel needs of their fast-growing economies, a report said on Saturday....
US stocks slip as jobs data stokes rate worries NEW YORK, Aug 6: US stocks fell on Friday after July jobs data exceeded expectations, spurring worries that the Federal Reserve will continue raising interest rates and hurting sectors sensitive to higher borrowing costs such as homebuilders and banks....		Dollar higher against euro NEW YORK, Aug 6: The dollar gained on the euro on Friday as a stronger-than-expected US jobs report fed expectations that the Federal Reserve will raise interest rates next week....
NY gold ends slightly down NEW YORK, Aug 6: US gold futures slipped on Friday as the dollar firmed against the euro following a stronger-than-expected US payrolls report. The US economy added 207,000 new jobs in July, above forecasts of 183,000, the Labour Department said....		Carryover rates rise sharply KARACHI, Aug 6: The weighted average carryover rates on the Karachi Stock Exchange last week soared to 19.9 per cent from the previous 11.4 per cent, showing a net rise of 6.9...
World oil prices hit new heights LONDON, Aug 6: World oil prices jumped to new historic peaks above $62 this week, driven by disruptions across refineries, while the death of Saudi Arabia’s King Fahd provided only limited support to crude futures....		OECD sees weak growth PARIS, Aug 6: Leading industrialised countries are set for a period of weak growth but there are signs of light ahead, notably in the eurozone owing to activity in Germany, data...
Sugar dispute KIEV, Aug 6: Attempts by the Ukraine government to shoot down soaring sugar prices have sparked howls of protest within the already bickering cabinet, with some ministers warning that the measures will bury the domestic sugar industry....		Canadian spot gas surges CALGARY (Alberta), Aug 6: Canada’s benchmark spot natural gas price jumped to its highest daily average in more than 10 months on Friday as power demand stayed strong in key markets following the week’s bullish inventory data....
Trading picks up on cotton market KARACHI, Aug 6: Physical activity on the cotton market on Saturday showed signs of revival as a couple of new crop lots from the lower Sindh cotton belt changed hands slightly above the official spot rates....		Pakistan expo BEIJING, Aug 6: Pakistan will hold a single-country exhibition in China by the end of this year to introduce its products in the Chinese markets. “We are considering to organize the...