August 13, 2005	Saturday	Rajab 7, 1426

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HBFC to open 60 offices in small cities KARACHI, Aug 12: The House Building Finance Corporation (HBFC) will expand its reach to small cities and towns by opening up around 60 representative offices to be given on franchise and will be empowered to accept and process loan applications....		Pakistan needs to move cautiously: Trade liberalization ISLAMABAD, Aug 12: Pakistan needs to move cautiously with the process of trade liberalization, especially with regard to lowering of bound tariffs — a limit beyond which customs duty on products...
Armed forces own 3.5pc assets of listed companies KARACHI, Aug 12: The State Bank Governor Dr Ishrat Hussain has estimated the worth of business enterprise being owned and run by the three armed services at 3.5...		July trade deficit up by 164pc ISLAMABAD, Aug 12: Trade deficit soared by 164.23 per cent during the first month of the current fiscal year to $724 million against $274 million during the same month last year, according to official figures made available to Dawn on Friday....
US sees great potential for investment in India WASHINGTON, Aug 12: India is now the new China for high investment returns and the United States is beginning to see it as important an ally as Israel, says a recent investment report....		Oil prices near $67 on capacity worries LONDON, Aug 12: Oil prices raced to record highs near $67 a barrel on Friday as investors fretted over the world’s strained capacity to refine and pump crude oil....
State Bank’s research bulletin launched KARACHI, Aug 12: The State Bank on Friday launched the first ever SBP Research Bulletin which contains research articles on important economic issues. The SBP says in a press release that...		Body to make strategy for corporate regulation ISLAMABAD, Aug 12: The Securities and Exchange Commission of Pakistan has set up an advisory committee to formulate a medium-term plan/strategy for regulation and development of corporate and financial (non-banking) sectors....
Stocks stage smart recovery of 180 points KARACHI, Aug 12: Stocks on Friday staged snap recovery as investors were back in the market and covered positions on the blue chip counters at the lower levels amid an actively...		Prices ease on higher phutti arrivals KARACHI, Aug 12: Cotton prices on Friday eased from the higher levels on selling by ginners followed by reports of steady arrivals of phutti into the ginners and fears of further decline in prices....
Indian potatoes arrive ISLAMABAD, Aug 12: The maiden consignment of potato from India arrived through Wagah border, after clearance by the quarantine department declaring it free from virus. With the advent of trade between...		Deal signed for textile city designing KARACHI, Aug 12: The mega textile city project took a vital lead on Friday with the signing of an agreement here between Pakistan Textile City Limited (PTCL) and National Engineering Services Pakistan Ltd (Nespak)....
Gold close to 17-year high NEW YORK, Aug 12: Gold looks primed to reach its priciest since June 1988 as fund money pours back into the market, sparked by dollar weakness and high oil prices, traders and analysts said on Friday....		Palm oil up SINGAPORE, Aug 12: Malaysia’s palm oil futures recouped early losses to end higher on Friday as dealers covered positions due to persistent worries about supply. The third-month October crude palm oil...
Karachi Port operations KARACHI, Aug 12: Five ships including Malakand carrying 14,000 tons of sugar are due to arrive at the outer anchorage on Saturday, according to KPT sources....		Port Qasim KARACHI, Aug 12: Five ships carrying containers, chemicals, seeds and iron ore were berthed at QICT, MPT and IOCB during the last 24 hours, according to a PQA press release on Friday....
Asian stocks HONG KONG, Aug 12: Asian stocks closed mostly flat on Friday with investors haunted by the impact of rising crude, after the price of oil struck 66 dollars a barrel in Asian trade, dealers said....		Trade deficit WASHINGTON, Aug 12 (AFP) - The US trade deficit expanded to $58.8 billion in June from $55.4 billion the month before on the back of record-high oil prices, the government said on Friday.—AFP...