September 24, 2005	Saturday	Sha'aban 19, 1426

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Multi-factor formula may draw flak: Resources distribution KARACHI, Sept 23: Sindh has strong reservations on the recent multi-factor resources distribution formula given by the federal government in the informal meeting of the National Finance Commission held this month....		Pakistan, US to discuss trade issues in Nov KARACHI, Sept 23: Minister for Commerce Humayun Akhtar Khan said on Friday Pakistan would take up trade related matters, including Qualified Industrial Zones (QIZs) with US trade representative Mr Robportman during...
Saarc states to sign taxation pact in Nov ISLAMABAD, Sept 23: The seven-member Saarc countries will sign the limited multilateral agreement on avoidance of double taxation (LMAADT) in the upcoming summit to be held in Dhaka in November....		Asian Bank for reduction in trade barriers ISLAMABAD, Sept 23: Reducing logistical, institutional and regulatory barriers to trade will have much greater impact on Asian growth than tariff reduction, says an Asian Development Bank study....
CDNS being made corporation ISLAMABAD, Sept 23: The government has decided to convert the Central Directorate of National Savings (CDNS) into a ‘corporation’ to enlarge its functions as well as to adequately benefit its employees....		Derivative transactions KARACHI, Sept 23: In order to facilitate derivatives transactions of ADDs/NMIs, the State Bank it has been decided to allow use of Long-form Confirmation in place of the ISDA Agreement for certain derivative transactions....
OGDC to enhance production of LPG KARACHI, Sept 23: Oil and Gas Development Company Ltd (OGDCL) has planned to enhance production of liquefied petroleum gas (LPG) to cater to the growing needs of northern and rural areas and urban suburbs....		6pc R&D support to garments industry KARACHI, Sept 23: The State Bank on Friday said that in terms of the ministry of commerce’s SRO919 (I)/2005 issued on September 9, 2005, the facility of six per cent research...
Buyers at dips absorb decline on stock market KARACHI, Sept 23: The KSE 100-share index on Friday suffered a fresh modest decline of six points as some of the leading base shares ran into weekend selling under the lead of PSO but there were buyers at the dips....		Trading remains active on cotton market KARACHI, Sept 23: Trading on the cotton market on Friday remained fairly active for the fourth sessions in a row and ginners were not inclined to hold on to their unsold positions in an uncertain near-term price outlook....
Mandelson claims progress on WTO talks PARIS, Sept 23: Four-way talks between the European Union, the United States, India and Brazil failed to kickstart stalled WTO trade negotiations on Friday, but EU trade commissioner Peter Mandelson said the countries had inched further towards a final agreement....		CDC to provide accounts through HBL KARACHI, Sept 23: Central Depository Company (CDC) will use Habib Bank’s nationwide branch network to provide the investor account service (IAS) to capital market investors....
Karachi Port operations KARACHI, Sept 23: Five ships carrying chemicals, steel cargo and containers are due to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was...		Yuan trading band widened BEIJING, Sept 23: China’s central bank Friday widened the yuan’s trading band in its new currency basket on the eve of the G7 meeting in a move seen as deflecting US criticism that it is footdragging on currency reform....
Oil prices sink as Rita weakens LONDON, Sept 23: World oil prices dipped on Friday after Hurricane Rita weakened further and looked set to spare major US refineries in Texas, analysts said....		Asian stocks lower, hit by rising oil prices HONG KONG, Sept 23: Asian stocks closed lower on Friday in cautious trade as investors kept an eye on Hurricane Rita’s progress towards Texas and the major US oil and gas...
Palm oil prices fall KUALA LUMPUR, Sept 23: Malaysian palm oil fell on Friday, surrendering gains from the morning and the previous day, as players limited their exposure ahead of key exports data due next week, dealers said....		Refinery capacity NEW DELHI, Sept 23: Indian petrochemicals giant Reliance Industries Ltd will invest $5.5-6 billion to nearly double the capacity of the country’s largest refiner by 2009, a report said on Friday....
BCCI election QUETTA, Sept 23: Haji Mohammad Sadiq Kakar has been elected unopposed president of the Balochistan Chamber of Commerce and Industry (BCCI) for the year 2006. Haji Maqbool Elahi and Haji Abdul...		Karachi market rates KARACHI, Sept 23: The following were Friday’s commodity market rates in rupees....