September 15, 2005	Thursday	Sha'aban 10, 1426

Please Visit our Sponsor (Ads open in separate window)

Rs4.315bn offered for Javedan Cement ISLAMABAD, Sept 14: The Privatization Commission on Wednesday received the highest bid of Rs4.315 billion from Haji Usman and Group to take over 96.34 per cent shares of Javedan Cement Limited (JCL) at the rate of Rs80 per share....		Sindh contests federal debt liabilities KARACHI, Sept 14: The Sindh government is now formally demanding the refund of the entire amount that was paid to service those federal loans which were, in fact, never borrowed and...
Govt striving to reduce cost of production KARACHI, Sept 14: Acting President Mohammadmian Soomro has assured the business community that the government is actively working to evolve strategy to reduce the cost of production....		$447m current account deficit in July KARACHI, Sept 14: Pakistan’s current account deficit shot up to $447 million in July 2005, the first month of this fiscal year, fuelling fears that the external account may remain under pressure throughout the year....
PC invites EoIs for Pakistan Steel ISLAMABAD, Sept 14: The Privatization Commission (PC) has invited Expression of Interests (EoIs) from the strategic investors for acquiring 51-74 per cent shares of the Pakistan Steel Mills Corporation (PSMC), with management control, on “as-is-where-is-basis”....		HK moot offers last chance: UNDP ISLAMABAD, Sept 14: The ministerial meeting in Hong Kong, in December 2005 provides a last chance to 148 WTO-member countries to restore confidence in the Doha Development Round (DDA) started in 2001, says a UN report....
Stocks gain 61.82 points on active short-covering KARACHI, Sept 14: The KSE 100-share index on Wednesday confidently crossed the 7,900-point barrier, signalling that its upward drive will continue on the strength of positive announcements from the corporate sector and return of the leading bulls....		Firm conditions on cotton market KARACHI, Sept 14: Cotton market on Wednesday showed firm trend amid active trading for the second session in a row as spinners continued to cover their forward positions against foreign sales of textiles....
Islamic fund for overseas investment KARACHI, Sept 14: Arif Habib Investments says it has proposed to launch a Shariah-compliant fund, adding that it is the first mutual fund which, once cleared by the regulators, would make overseas investment....		Bidding for Mustehkam Cement today ISLAMABAD, Sept 14: The Privatization Commission is holding a bidding here on Thursday for divesting 85.29 per cent shares of Mustehkam Cement Limited and for the sale of the machinery of Bolan Textile Mills....
Cut-off yield on T-bills KARACHI, Sept 14: The cut-off yield on Pakistan’s benchmark six-month Treasury bills remained flat at an auction on Wednesday, indicating that the interest rates would hold current levels for the time being, dealers said....		‘Pakistan-Japan trade below potential’ KARACHI, Sept 14: The Japan-Pakistan bilateral trade is low and below potential. This was stated by Japanese Ambassador to Pakistan Nobuaki Tanaka during a press conference at the Japanese Consulate here on Wednesday....
Promotion of Islamic banking urged KARACHI, Sept 14: Acting President Mohammadmian Soomro on Wednesday called for a multi-pronged approach including research for new concepts and instruments to ensure a faster growth of Islamic banking in the country....		Karachi Port operations KARACHI, Sept 14: Seven ships including a rice loader and with sugar are due to arrive at the outer anchorage on Thursday, according to KPT sources....
Interviews for KSE MD post KARACHI, Sept 14: Interviews were conducted for the next managing director of the Karachi Stock Exchange on Wednesday. The post had fallen vacant after the completion of a three-year term of Moin M....		ICAP president KARACHI, Sept 14: Syed Mohammad Shabbar Zaidi was elected president of the Institute of Chartered Accountants of Pakistan (ICAP) for 2005-06. A press release issued by ICAP stated that the 174th...
Palm oil up SINGAPORE, Sept 14: Malaysian crude palm oil futures were mostly higher in late trade on Wednesday, aided by short covering on the physical side. Overall volume was moderate, suggesting many players...		US economy WASHINGTON, Sept 14: The US economy seems to be taking a hit from Hurricane Katrina but had solid momentum ahead of the disaster, according to reports released on Wednesday....