August 30, 2005	Tuesday	Rajab 24, 1426

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Key meeting with Hassan Associates today: KESC sell-off KARACHI, Aug 29: A crucial and decisive meeting of the Privatization Commission with the investors group that offered second highest bid for divesture of 73 per cent shares of Karachi Electric Supply Corporation (KESC) is being held on Tuesday at Islamabad....		Listed banks’ 1H2005 profit rose by 96pc KARACHI, Aug 29: Profit after tax (PAT) of 19 commercial banks listed at the stock exchanges grew by 96 per cent during the half year ended June 30, 2005....
Move to allow cement import irks makers KARACHI, Aug 29: As the government is considering allowing the import of cement, dealers are optimistic that the proposed move will bring the soaring cement prices down....		ADR mechanism ensures quick, cheap relief KARACHI, Aug 29: Federal Minister for Law and Justice Muhammad Wasi Zafar has said that the government is committed to facilitating foreign investors by putting in place legislation and mediation procedures...
Banks increase overseas placement: FCY deposits KARACHI, Aug 29: In July, banks in Pakistan placed $300 million more with the banks operating overseas as the State Bank’s appetite for foreign currency borrowing declined....		‘NRL lube project a major event’ KARACHI, Aug 29: The completion of ‘Lube Revamp Project’ of National Refinery Limited (NRL) is a major event about which the chairman in his last quarterly report had stated: “Progress on revamp project is satisfactory....
NBP, PPL financial results KARACHI, Aug 29: National Bank of Pakistan (NBP) and Pakistan Petroleum Limited (PPL) announced their financial figures on Monday....		MoU signed to ensure availability of CNG KARACHI, Aug 29: Pakistan State Oil (PSO) and Star Petro Energy (Pvt) Limited, a subsidiary of Al Ghurair Group of Companies, Dubai, have signed a memorandum of understanding on Monday to...
KSE index gains 105 points on corporate earnings KARACHI, Aug 29: Stocks on Monday resumed trading on a higher note as investors continued to build up long positions on selected counters under the lead of oil shares followed by...		Prices decline on cotton market KARACHI, Aug 29: Cotton prices on Monday maintained their downward drift on active ginner selling amid reports of higher crop ideas and a considerable decline in mill buying....
Telecom Malaysia starts operation ISLAMABAD, Aug 29: Telecom Malaysia has launched its operations in Pakistan with an initial investment of about $100 million to provide backbone infrastructure to mobile and internet services and use it...		PM wants increased trade ties with GCC states ISLAMABAD, Aug 29: Prime Minister Shaukat Aziz has emphasized the need to increase, expand and institutionalize Pakistan’s economic relations with Gulf Cooperation Council (GCC) countries for greater economic integration of the region....
192 firms penalized in July ISLAMABAD, Aug 29: The Registrar of Companies of the Securities and Exchange Commission of Pakistan (SECP) took action against 192 companies during the month of July 2005 for violating different legal provisions....		Workshop on Islamic banking KARACHI, Aug 29: State Bank Governor Dr Ishrat Husain on Monday said that while Islamic banking was growing rapidly, there was an acute shortage of trained staff in this area and...
Oil prices hit new highs above $70 per barrel NEW YORK, Aug 29: Oil prices topped $70 a barrel on Monday for the first time as a powerful hurricane wreaked havoc in the crude-producing Gulf of Mexico, home to 25 per cent of US oil and gas production....		Karachi Port operations KARACHI, Aug 29: Six ships carrying soda ash, DAP fertilizer and containers are due to arrive at the outer anchorage on Tuesday, according to KPT sources....