September 29, 2005	Thursday	Sha'aban 24, 1426

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UAE buyer granted extension till Oct 28; PTCL transaction ISLAMABAD, Sept 28: The government has granted an extension to Etisalat of the UAE till October 28, 2005 to complete the transaction of Pakistan Telecommunication Company Limited and take over the entity....		Poultry prices touch new peak KARACHI, Sept 28: Poultry live bird prices have touched a new peak of Rs74 per kg at the retail stage as per official rates quoted by the Karachi Wholesale Poultry Association...
Tax-to-GDP ratio hit record low in 2004-05 ISLAMABAD, Sept 28: The tax-to-GDP ratio has touched its lowest level at 9 per cent during the year 2004-05 from 9.4 per cent a year ago, according to the CBR quarterly review report released here on Wednesday....		Only 1.5 per cent paying income tax: report ISLAMABAD, Sept 28: Only 1.5 per cent of 150 million populations in Pakistan are paying income tax, ranking the country one of the lowest taxpayers in the world in terms of population ratio....
Stocks stay flat amid PTCL’s dividend omission KARACHI, Sept 28: The KSE 100-share index on Wednesday remained unsettled throughout the session as investors played on both sides of the fence, indulging in alternate bouts of buying and selling...		Pakistan attracting foreign investment DHAHRAN, Sept 28: With a vastly improved and stable investment climate, a number...
TCP floats tender for sugar sale KARACHI, Sept 28: The Trading Corporation of Pakistan has floated a tender for the local sale of 75,000 tons of sugar from the imported stock ahead of Ramazan to ease prices in the local market....		Urea sales up by 14pc in eight months KARACHI, Sept 28: According to the data released by National Fertilizer Development Centre (NFDC), year-to-date (Jan-August) urea off-take stood at 3,320 Kt - 13.84 per cent higher than the corresponding period last year....
SECP penalizes 12 firms ISLAMABAD, Sept 28: The enforcement department of the Securities and Exchange Commission of Pakistan has taken action against 12 companies for violating different legal requirements during August 2005....		Oil prices jump on US refinery concerns LONDON, Sept 28: Oil prices rose on Wednesday on fears over hurricane-battered refineries in the United States, and amid data showing that crude stocks fell last week, while gasoline reserves unexpectedly climbed....
Korean firms seek incentives for investment KARACHI, Sept 28: South Korean companies have sought allotment of exclusive industrial corridors at Pakistan’s Export Processing Zones with special package to attract maximum Korean investment in the country....		Prices ease on cotton market KARACHI, Sept 28: Cotton prices on Wednesday eased from the previous levels as some of the ginners indulged in hasty selling followed by steady arrivals of phutti into ginneries....
France sees 2.25pc GDP growth in 2006 PARIS, Sept 28: France presented on Wednesday a budget for 2006 based on economic growth of 2.25 per cent, a budget deficit just within EU limits and an oil price of $60 a barrel....		Yields on treasury bills remain flat KARACHI, Sept 28: The yields on treasury bills remained flat at an auction on Wednesday, and bankers said with inflationary pressures easing, the central bank was unlikely to increase the rates....
Tax relief for dual fuel power projects ISLAMABAD, Sept 28: The Central Board of Revenue (CBR) has exempted dual fuel (oil/gas) power projects set up on or after September 1, 2005 from income tax on profit and gains....		European gold creeps up LONDON, Sept 28: Gold was little changed in a subdued European trading session on Wednesday, with market players looking for a clear direction to make their next moves, dealers said....
European stocks LONDON, Sept 28: European stock markets surged on Wednesday on positive US durable goods data, with investors in London absorbing a sharp downward revision to British economic growth, analysts said....		Palm oil prices lower KUALA LUMPUR, Sept 28: Malaysian crude palm oil futures closed down 1 per cent on Wednesday after profit-takers emerged in a market that had risen 2 straight days on speculation over September exports....
Asian stock markets close mixed HONG KONG, Sept 28: Asian stocks closed mixed on Wednesday in a virtual repeat of Tuesday’s trade, with Seoul and Mumbai once again setting all-time records while Tokyo extended gains on ever increasing optimism about the Japanese economic outlook, dealers said....		Karachi Port operations KARACHI, Sept 28: Nine ships, carrying DAP fertilizer, trucks and pig iron, are due to arrive at the outer anchorage on Thursday, according to KPT sources....