October 9, 2005	Sunday	Ramazan 4, 1426

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Earthquake unlikely to jolt stock markets KARACHI, Oct 8: The earthquake that shook the country on Saturday morning, though an exceedingly heart-breaking event is nonetheless, unlikely to impact the cold and cruel world of capital markets....		Lending rates jump by 34pc in 8 months KARACHI, Oct 8: Weighted average lending rates of all banks rose by over 34 per cent in the first eight months of the calendar year 2005, reflecting a very high interest rate trend as a result of tight monetary policy....
HK textile fair concludes KARACHI, Oct 8: The new look Interstoff Asia Autumn that opened on Wednesday at the Hong Kong Convention & Exhibition Centre with around 289 exhibitors from 16 countries concluded on Friday....		Copper export to China may hit $70 million BEIJING, Oct 8: Pakistan’s annual export of copper to China is expected to reach around $70 million by the end of December 2005....
Costly energy may bite into US state budgets CHICAGO, Oct 8: The chill in the air in many parts of the United States is raising concerns among state officials who fear higher heating costs this winter on top of high gasoline prices will eat into their budgets....		Mittal Steel plans $9bn investment in India RANCHI, India, Oct 8: Mittal Steel Co., the world’s top steel maker, signed an agreement on Saturday to build a 12-million-ton steel plant in eastern India, the company said in a statement....
Economy is doing well, says Salman LAHORE, Oct 8: Dr Salman Shah, adviser to the prime minister on finance, has said that the economy is doing well and the government is endeavouring to pass over its fruits to all people especially those living in far-flung areas....		ECB needn’t to hike interest rates COLOGNE,Oct 8: Current upside risks to price stability are a temporary phenomenon linked to surging oil prices and the European Central Bank has no need to raise borrowing costs, Germany’s Economy Minister said on Saturday....
Oil prices swing higher ahead of weekend NEW YORK, Oct 8: World oil prices swung higher on Friday, recovering a bit after losing more than six per cent on the week as traders positioned ahead of the weekend....		India’s fiscal deficit ‘unacceptably high’: PM CHANDIGARH, Oct 8: India’s Prime Minister said on Saturday the health of the federal and state government finances was a cause of concern and there was a need to curtail wasteful expenditure to keep the high fiscal deficit in check....
Chinese president to deliver key speech at G20 meet BEIJING, Oct 8: Chinese President Hu Jintao will attend next week’s G20 meeting of finance ministers and central bank governors in Beijing and make a keynote speech, the foreign ministry said on Saturday....		Canadian dollar gains, bonds weak TORONTO, Oct 8: The Canadian dollar rose back above 85 US cents on Friday, while bond prices mostly retreated, as a business survey showing optimism about Canada’s economic outlook built the case for more interest rate hikes....
Malaysian company not to buy Bank Islam KUALA LUMPUR, Oct 8: Malayan Banking Bhd. (Maybank), Malaysia’s biggest listed company, said on Saturday it has no immediate plans to buy the country’s oldest Islamic bank, Bank Islam....		Oil plunges, copper shines LONDON, Oct 8: Oil prices slumped this week, hit by easing demand for energy in the United States, while copper reached a new high point....
US auto part supplier files for bankruptcy CHICAGO, Oct 8: Delphi Corp. filed for bankruptcy on Saturday, hurt by high wage and benefit costs inherited from former parent General Motors Corp. It was the biggest bankruptcy filing in US automotive history....		Lint prices rise to seasonal highs KARACHI, Oct 8: The cotton market on Saturday maintained a bullish outlook as growers have reportedly slowed down the arrivals of phutti into ginneries in an apparent effort to push prices further higher....
Karachi Port operations KARACHI, Oct 8: Six ships carrying palm oil, coal and containers are expected to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was...		Port Qasim KARACHI, Oct 8: Four ships carrying containers, chemicals, diesel oil and iron ore were allotted berths during the last 24 hours, said a PQA press release on Saturday....
Germany to spend more on jobless benefits BERLIN, Oct 8: Changes to German unemployment benefit rules introduced at the beginning of this year are set to cost the government almost twice as much as expected in 2005, the Economy Ministry said on Saturday....		CFS rates move up KARACHI, Oct 8: The weighted average rates under the Continuous Funding System (CFS) on the Karachi Stock Exchange last week showed an increase of 160 basis points at 17.6...
Iran looking for new oil minister TEHRAN, Oct 8: No new nominee for the Iranian oil minister has been presented to parliamentarians, an official said on Saturday, leaving the energy policy of Opec’s second biggest exporter in limbo....		US gold futures up NEW YORK, Oct 8: US gold futures finished up and at the highest close in nearly 18 years on Friday, boosted by investment and safe-haven buying amid jitters over economic factors and a threat of attacks in New York, dealers said....
New York cotton mixed NEW YORK, Oct 8: Cotton futures finished mixed on Friday in thin trade as market players sat back to wait for the release next week of a key government crop report, brokers said....		Role of sugar industry acknowledged LAHORE, Oct 8: The sugar industry is key industry playing important role in the agro-industrial development of the country, said Dr Salman Shah, adviser to the prime minister on finance....
Commodity markets LAHORE, Oct 8: The following were Saturday’s upcountry commodity market rates in rupees. Foodgrains (per 40 kg): Wheat 425; Jowar 400 to 500; Maize 250 to 400; Bajra 500; Barley 500 to 520....		Karachi market rates KARACHI, Oct 8: The following were Saturday’s commodity market rates in rupees....