August 18, 2005	Thursday	Rajab 12, 1426

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World Bank for balance in spending: Defence, social sectors ISLAMABAD, Aug 17: Pakistan presents a mix picture of bad and good governance and needs to create a balance between social and defence spending and continue reforms with special focus on equitable development of the poor....		Derivatives market set to take off KARACHI, Aug 17: The financial derivatives market is set to take off as a local bank has joined the exclusive club of authorized derivatives dealers or ADDs that are allowed to undertake derivative business....
Car sales rose 12pc in July KARACHI, Aug 17: Budgetary and trade policy measures for 2005-06, aimed at liberalizing used car imports, have yet to cause a breather in the buying sentiments of consumers of locally assembled cars....		Investment policy may be further liberalized ISLAMABAD, Aug 17: The government is likely to further liberalize its investment policy to attract a sizable local and foreign investment in the country....
Dullness prevails on stock market on eve of LB polls KARACHI, Aug 17: Trading volume on the stock market on Wednesday fell to a three-year low at 36m shares as investors kept to the sidelines most of the time fearing law and order situation in Thursday’s Local Bodies polls....		Prices stay firm on cotton market KARACHI, Aug 17: Cotton market on Wednesday showed firm trend as spinners and mills remained active buyers of the new crop from the lower Sindh cotton belt....
50 tons of mangoes exported to Iran LAHORE, Aug 17: Pakistan has sent first consignment of 50 tons of mangoes to Iran by sea. The consignment of ‘chaunsa’ variety of mangoes was sent under the supervision of the Pakistan Horticulture Development and Export Board....		SECP-KSE meeting may resolve COT issue KARACHI, Aug 17: The Chairman, Securities and Exchange Commission of Pakistan (SECP), Dr. Tariq Hassan would hold a meeting with the stock brokerage community either on Friday or Saturday....
EDF Board approves R951m for projects ISLAMABAD, Aug 17: The Board of Administrators of Export Development Fund (EDF) has approved Rs951.008 million for various ongoing projects and skill development institutes....		T-bill yield rises KARACHI, Aug 17: Yields on six-month Treasury bills rose slightly on Wednesday, in line with market expectations, but dealers said call rates would slide as the State Bank had left the market flush with funds....
GIs to enhance market access for farm products ISLAMABAD, Aug 17: The extension of the scope of geographical indications (GIs) to non-wine and spirit products would help enhance the market access for developing countries like Pakistan for agriculture and cottage industry products....		Exchange firm gets show-cause notice KARACHI, Aug 17: The State Bank has issued a show-cause notice to Noble Exchange Company, Gujranwala, for violating the rules and regulations. The central bank said in a press release issued...
IMF team visits SECP ISLAMABAD, Aug 17: An International Monetary Fund (IMF) delegation on Wednesday visited the head office of the Securities and Exchange Commission of Pakistan (SECP) and discussed with its officials the recent...		WTO asks US to respect steel ruling GENEVA, Aug 17: The World Trade Organization on Wednesday called on the United States to fall into line with an earlier ruling that criticized the way Washington applied penalties against privatized European steel companies....
Karachi Port operations KARACHI, Aug 17: Five ships carrying rock phosphate, railway engines and containers are expected to arrive at the outer anchorage on Thursday, according to KPT sources....		Port Qasim KARACHI, Aug 17: Three ships carrying containers, diesel oil and chemicals were berthed at QICT, FOT and EVT during last 24 hours, said a PQA press release on Wednesday....
Asian stocks close lower HONG KONG, Aug 17: Asian stocks closed lower on Wednesday with the markets remaining skittish over the record cost of crude and sharp overnight falls on Wall Street, dealers said....		Palm oil flat KUALA LUMPUR, Aug 17: Malaysian crude palm oil futures ended flat on Wednesday as buyers were hesitant to commit after seeing rival soyaoil making little headway in two days of trade....
Oil plunges despite sharp fall in US stock LONDON, Aug 17: Oil prices plummeted by more than a dollar on Wednesday despite a massive slump in gasoline (petrol) reserves in the United States during the ongoing peak-demand summer driving season, dealers said....		US, China thrash out textiles accord SAN FRANCISCO, Aug 17: The United States and China vied on Wednesday to thrash out a deal to control Chinese textile shipments, whose rapid growth has done much to stoke Sino-US trade tensions....