August 24, 2005	Wednesday	Rajab 18, 1426

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FDI up by 129pc in July ISLAMABAD, Aug 23: Foreign Direct Investment (FDI) in the first month (July) of the current year stood at $119.6 million, up by 129 per cent over $52.2 million of the same period last year....		UK firm loses exclusive investment rights in BD: Landline telephone operation DHAKA, Aug 23: The appellate division of the Supreme Court of Bangladesh on Tuesday upheld a high court verdict cancelling the four-year exclusive rights of UK-based Telco WorldTel, permitting the government...
Nisar calls for investing in infrastructure KARACHI, Aug 23: Chairman Standing Committee of the Senate on Defence and Defence Production Nisar A. Memon on Tuesday underlined the need to invest heavily in infrastructure to exploit the existing potential of business in Sindh....		Ginning price fixed at Rs335 HYDERABAD, Aug 23: The cotton ginning charges for the current ginning season has been fixed at Rs335 per three maunds of seed cotton (phutti). The decision to this effect was taken...
‘Tax laws hindering SMEs growth’ KARACHI, Aug 23: President Small and Medium Enterprises Alliance (Samea) Zafar Iqbal said on Tuesday, that cumbersome and out-dated tax laws are inhibiting small and medium enterprises (SMEs) growth....		Rice prices stable on low stocks KARACHI, Aug 23: Pakistan’s rice market was dull during the last week on low stocks and traders said on Tuesday that activity was unlikely to pick up before September when supplies from the new crop became available....
Profit-selling halts rally on stock market KARACHI, Aug 23: Stocks on Tuesday failed to sustain the last two sessions’ run-up as follow-up support turned shy in the absence of leading bulls, allowing bears to indulge in active profit-selling at the higher levels....		Prices rule firm on cotton market KARACHI, Aug 23: Cotton market on Tuesday showed a firm trend as ginners held on to their unsold positions awaiting still better prices for freshly ginned lint....
FTO warns against defiance of orders KARACHI, Aug 23: Federal Tax Ombudsman Justice (Retd) Munir A Sheikh has said that defiance by any government department to the decisions taken by his offices is a contempt and intervention in the working of FTO....		TCP to release sugar next week KARACHI, Aug 23: The Trading Corporation of Pakistan (TCP) will release 50,000 tons of refined sugar from its stock next week to ease local prices. TCP Chairman Syed Masood Alam Rizvi...
Euro weakens against dollar LONDON, Aug 23: The dollar edged up against the euro here on Tuesday as the single European currency was unable to take full advantage of a marked improvement in German business confidence....		Asian stocks close lower as oil edges higher HONG KONG, Aug 23: Asian stocks closed mostly lower on Tuesday as the cost of crude edged higher with investors waiting for any impact on oil from the US energy stockpiles report due out later this week, dealers said....
NBP allowed to open branches in Saudi Arabia RIYADH, Aug 23: Saudi government has permitted the National Bank to set up branches in the kingdom, meeting the longstanding demand of the large Pakistani community here....		Workbooks for taxpayers ISLAMABAD, Aug 23: The Central Board of Revenue (CBR) has developed workbooks with in-built calculations and formulas for facilitating and educating the taxpayers....
Karachi Port operations KARACHI, Aug 23: Nine ships carrying steel coils, chemicals and general cargo are due to arrive at the outer anchorage on Wednesday, according to KPT sources....		Port Qasim KARACHI, Aug 23: Two ships carrying containers and edible oil were allotted berths at QICT and MPT during the last 24 hours, said a PQA press release on Tuesday....
Oil prices ease on eve of US stock data LONDON, Aug 23: Oil prices fell on Tuesday as the traditional weekly report on energy stockpiles in the United States moved into focus, while traders kept an eye on geopolitical factors....		Malaysian palm oil up KUALA LUMPUR, Aug 23: Malaysian crude palm oil futures closed up on Tuesday, rebounding from slight losses the previous day, on buying spurred by higher prices of rival US soyaoil, dealers said....
Oil and gas sector attracting investment RAWALPINDI, Aug 23: Secretary Petroleum Ahmed Waqar on Tuesday said that the investment climate in the country had become very conducive due to the positive and effective policies of the government....		Gold higher in Europe LONDON, Aug 23: Gold inched higher in Europe on Tuesday, flirting with the $440.00 an ounce level as the dollar softened against the euro, although sentiment was tempered by the implications of current major speculative longs....