September 25, 2005	Sunday	Sha'aban 20, 1426

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CNG price rises by 65 per cent: April 2003-Sept 2005 ISLAMABAD, Sept 24: The average price of Compressed Natural Gas (CNG) rose by 65.36 per cent during the last two-and-a-half years (2003-05) and is expected to escalate further following the government...		Chinese tiles capture 50pc market KARACHI, Sept 24: Chinese tiles have captured over 50 per cent market in the last five years but its entry has not driven the local players out of the market....
WTO chief for revival of trade talks WASHINGTON, Sept 24: The head of the World Trade Organization told world financial leaders on Saturday they had “little time and a lot of work to do” to revive stalled trade...		Pre-qualification bodies set up ISLAMABAD, Sept 24: The Privatization Commission Board on Saturday formed pre-qualification committees for Pakistan Steel Mills Corporation and Pak American Fertilizers Limited....
WB finds flaw with GDP calculations KARACHI, Sept 24: Punjab maintained an average annual growth rate of 4.5 per cent in sharp contrast to 3.7 per cent in rest of Pakistan during the decade of 19091-92 to 2002-03, a World Bank report on Punjab Economy reveals....		Incomes, purchasing power of Pakistanis improve WASHINGTON, Sept 24: Four consecutive years of stable economic growth is having a positive impact on Pakistan where both average incomes and purchasing power have increased, says State Bank Governor Dr Ishrat Husain....
Maritime Academy to get varsity status KARACHI, Sept 24: Consultant of the International Maritime Organization (IMO) Professor Dr Malek Pourzanjani on Saturday, expressing his satisfaction over the capacity of Pakistan Maritime Academy (PMA) and allied institutions along...		Country has sufficient stock of wheat ISLAMABAD, Sept 24: Minister for Food, Agriculture and Livestock Sikandar Hayat Khan Bosan on Saturday said the estimated consumption of wheat for 2005-06 had been worked out at 20.847 million tons....
Financing rates under CFS fall modestly KARACHI, Sept 24: Share financing rates under the Continuous Funding System (CFS) on the Karachi Stock Exchange last week showed minor either-way fluctuations but finished modestly lower by 80 basis points at 15.7...		G-7 watching interest rate spreads closely WASHINGTON, Sept 24: A senior US Treasury official said on Friday that G7 finance ministers agreed they have to closely monitor current spreads on interest rates to ensure current economic risks were being correctly priced....
Free trade agreement with Sri Lanka MUMBAI, Sept 24: India should review the free trade agreement with Sri Lanka, under which imports of vanaspati or hydrogenated vegetable oil are allowed with zero duty, to safeguard the domestic industry, a trade body said....		Wolfowitz speech will set new course for World Bank WASHINGTON, Sept 24: In his first policy speech to member countries as World Bank president, Paul Wolfowitz on Saturday will demand tangible results from bank programs to fight poverty in developing countries....
Canadian dollar, bonds slip with oil prices TORONTO, Sept 24: The Canadian dollar ended lower versus the US greenback on Friday as oil prices retreated, but it rose versus overseas currencies on optimism about domestic growth and interest rate increases....		Hurricane Rita ramps up oil prices, metals hammer higher LONDON, Sept 24: Oil prices climbed this week as Hurricane Rita barreled through the warm waters of the US Gulf of Mexico, threatening potentially serious damage to platforms and refineries in its path....
UK’s Brown wants joint action on oil WASHINGTON, Sept 24: Co-ordinated international effort is needed to combat the threat to global economic growth posed by soaring oil prices, British finance minister Gordon Brown said on Friday....		Developing countries dig in on IMF quota changes WASHINGTON, Sept 24: Developing countries piled pressure on the world’s industrial powers on Friday to give them more say in the running of global lenders as a David-and-Goliath rivalry heated up...
Economic imbalances pose serious threat: IMF WASHINGTON, Sept 24: Global economic imbalances pose serious risks to the world’s prosperity, and countries must share the work of fixing them, International Monetary Fund Managing Director Rodrigo Rato said on Saturday....		Ginners raise asking prices KARACHI, Sept 24: The cotton market closed the week on Saturday on a firm note as ginners raised their asking prices in sympathy with fixing made by growers for their phutti (seed cotton) at higher rates....
Essential items’ prices up ISLAMABAD, Sept 24: The Sensitive Price Index (SPI) rose by 0.03 per cent during the week ending September 22, over the previous week, according to a weekly price data released by the Federal Bureau of Statistics here on Saturday....		US oil industry escapes Rita WASHINGTON, Sept 24: The US oil industry, still reeling from the devastation of Hurricane Katrina, appears to have escaped the worst of the damage that was feared from the furious winds and rain of Hurricane Rita....