August 17, 2005	Wednesday	Rajab 11, 1426

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Remittances down 6pc to $310m in July KARACHI, Aug 16: The amount of foreign exchange sent home by overseas Pakistanis fell to $310 million in July 2005 down six per cent from $329.9...		$2.7bn spent on foreign debt servicing KARACHI, Aug 16: Pakistan spent $2.716 billion on servicing its foreign debts in the last fiscal year ending June 2005, according to data released by the State Bank....
Patent rights may push up drug prices ISLAMABAD, Aug 16: The Executive Officer, International Intellectual Property Section of Australian Government, Geoff Binns, has agreed with the impression that granting of patent rights would curb competition and might result...		Procurement from Swiss firm questioned: Note printing machinery KARACHI, Aug 16: A local subsidiary of a German company has informed the Public Procurement Regulatory Authority (PPRA) and the finance ministry about a case of the Pakistan Security Printing Corporation (Pvt) Limited (PSPCPL)....
SECP body to study capital market ISLAMABAD, Aug 16: The Securities and Exchange Commission of Pakistan has formed a committee to conduct the feasibility of introduction of exchange-traded derivatives market in Pakistan....		First round of FTA talks with China completes BEIJING, Aug 16: Pakistan and China on Tuesday completed first round of negotiations on Free Trade Agreement (FTA), with a pledge to make it an effective document, giving boost to their bilateral trade and establishing mutually beneficial cooperative partnership....
KSE plans to introduce ‘Sensitive Index’ KARACHI, Aug 16: The Karachi Stock Exchange (KSE) plans to introduce “KSE Sensitive Index”, the primary objective of which, the bourse said, was to have a benchmark by which stock price performance can be compared over a period of time....		Oil prices recede on eve of US stocks data LONDON, Aug 16: Oil prices fell on Tuesday in the absence of major production problems at refineries in the United States, and on the eve of US crude inventories data, dealers said....
US, China take up textile issues SAN FRANCISCO, Aug 16: Senior US and Chinese officials met Tuesday bidding to forge a comprehensive deal to regulate surging Chinese textile exports, which have exacerbated acute Sino-US trade tensions in recent months....		Indian exports up NEW DELHI, Aug 16: India’s exports surged by 27 per cent year-on-year in July as a resurgent economy pushed up industrial output, the commerce ministry said on Tuesday....
Stocks recover 16 points amid mixed trading KARACHI, Aug 16: Stocks on Tuesday turned mixed as investors played on both sides of the fence without taking long positions on any of the counters in the backdrop of reports...		Active trading on cotton market KARACHI, Aug 16: Physical business on the cotton market on Tuesday was active as a section of spinners continued to build-up long positions in the new crop at the current levels....
IMF says Iraq still faces challenges: Restructuring WASHINGTON, Aug 16: The IMF, issuing its first review of Iraq in 25 years, urged leaders on Tuesday to adopt an elusive constitution and to pursue hard-hitting reforms to get the war-torn economy back on track....		Duty on pharma raw materials under study ISLAMABAD, Aug 16: The National Tariff Commission (NTC) is considering a proposal to increase customs duty on import of Cefixime — a pharmaceutical raw materials — from 10 per cent to 25 per cent to provide protection to the local industry....
Carpet fair from 28th KARACHI, Aug 16: Pakistan Carpet Manufacturers and Exporters Association (PCEA) is holding a three-day “regional hand-knotted carpet exhibition” from August 28-30, at Karachi Expo Centre....		SBP course on Islamic banking KARACHI, Aug 16: The State Bank will launch a certificate course in Islamic banking next month. The first course will be held from September 12-28 at the Karachi campus of NIBAF of the National Institute of Banking and Finance....
Karachi Port operations KARACHI, Aug 16: Five ships carrying containers and sugar are due to arrive at the outer anchorage on Wednesday, according to KPT sources. Berthing activity at the wharves was maintained on the higher side where half a dozen ships were berthed....		Port Qasim KARACHI, Aug 16: Three ships carrying diesel oil and chemicals were anchored at the outer anchorage during the last 24 hours, said a PQA press release on Tuesday....
Union Bank Card Karachi: Union Bank has launched its Visa Gold Card with enhanced features and value-added services. Union Gold offers one per cent cash back on all retail transactions and balance transfer facility....		Karachi market rates KARACHI, Aug 16: The following were Tuesday’s commodity market rates in rupees....