October 13, 2005	Thursday	Ramzan 8, 1426

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Industrial output hit by workers’ departure KARACHI, Oct 12: A number of labour force and workers employed in city’s mega industrial estates have left for their homeland to either mourn the death of their family members or...		Govt sees no major financial impact: Earthquake devastation LAHORE, Oct 12: Pakistan’s finance managers insist that the devastation caused by Saturday’s earthquake will have no negative impact on the economy or budgetary targets. Independent economists just do not agree,...
Economic growth to remain unhurt KARACHI, Oct 12: More than two million people have been displaced and property worth billions of rupees lost due to the earthquake, but some economist and analysts believe that economic growth will remain unhurt....		Banks asked to resume work in quake-hit areas KARACHI, Oct 12: The State Bank wants commercial banks to resume their normal operations in the earthquake-hit areas -— Muzaffarabad and Mansehra —quickly and has sought a security protection from the government....
Budget deficit may widen to 4.3pc ISLAMABAD, Oct 12: The budget deficit is likely to be in the range of 4.1 per cent to 4.3 per cent of the GDP during the fiscal year 2005-06 as against 3.8...		Draft report on WTO challenges criticized KARACHI, Oct 12: The business community has strongly criticized the Senate’s Special Committee (SSC) on WTO for approving a draft report on “Challenges of WTO and Strategy.”...
Stocks add another 169 points on renewed buying KARACHI, Oct 12: Trading on the stock market on Wednesday resumed on a bullish note as investors continued to build up long positions on the cement, oil and bank sectors amid predictions of handsome capital gains....		Cotton prices ease as phutti arrivals pick up KARACHI, Oct 12: After having risen by about Rs200 per maund during the last couple of sessions, the cotton prices on Wednesday eased modestly from their recent highs on ginner selling...
S. Arabia’s economy grew by 5.3pc in 2004 RIYADH, Oct 12: Riding on high oil prices, the Saudi GDP grew by 5.3 per cent in 2004, the Saudi Arabian Monetary Agency (SAMA) said in a report presented to King Abdullah....		Snow’s China tour focuses on yuan reforms SHANGHAI, Oct 12: US Treasury Secretary John Snow opened his tour of China on Wednesday focused on the steps the country has taken to greater currency flexibility since Beijing revalued the yuan and pledged greater forex reform....
Japanese economy recovering TOKYO, Oct 12: Japanese corporate profits and consumer spending are picking up, the government said in a monthly report on Wednesday in which it maintained its assessment that the economy is in a moderate recovery....		Cut-off yield on TBs remains unchanged KARACHI, Oct 12: The State Bank on Wednesday sucked in Rs4.527 billion through auction of three-, six- and 12-month treasury bills and kept the cut-off yield on the papers unchanged....
EC to review decision on bedlinen ISLAMABAD, Oct 12: European Commission Director General Trade Peter Carls has assured that the EC would look into the dumping margins of eight Pakistani exporters of bedlinen disclosed recently....		Karachi Port operations KARACHI, Oct 12: Six ships carrying steel coils, containers and to load rice are expected to arrive at the outer anchorage on Thursday, according to KPT sources....
OECD cuts UK growth outlook PARIS, Oct 12: The OECD slashed on Wednesday its forecast for British economic growth this year to 1.7 per cent from 2.4 per cent signalled earlier but said there was no particular case for a cut in interest rates....		Kenyan tea mixed NAIROBI, Oct 12: Kenya’s tea prices were mixed with most grades easing because of dipping quality, dealers said on Wednesday. Mombassa-based Africa Tea Brokers said 77,167 packages were offered at the auction, compared to 69,225 packages last week....
Asian stocks close down HONG KONG, Oct 12: Asian stocks closed mostly lower on Wednesday following a lucklustre overnight performance by Wall Street and amid a fresh spike in oil prices, dealers said....		European share markets lower LONDON, Oct 12: European shares closed over half a per cent lower on Wednesday as tech stocks fell after Apple Computer missed expectations on quarterly revenue while drug stocks had a mixed day with Schering dipping....
London sugar dips LONDON, Oct 12: London white sugar futures eased on speculative selling in light volumes at midday, and traders said producer hedge selling against Thursday’s EU export tender could emerge later on Wednesday....		Palm oil futures BANGKOK, Oct 12: Malaysia’s palm oil futures ended lower on Wednesday on liquidation amid concerns about rising stocks, dealers said. The third-month December crude palm oil contract on Bursa Malaysia Derivatives fell 9 ringgit to 1,451 ringgit a ton ($384.8)....
Gold prices LONDON, Oct 12: Gold clearing volumes rose just over 15 per cent to a daily average of 17.5 million ounces in September, the highest level for that month since 2001 and...		G20 talks PARIS, Oct 12: Although the price of crude has fallen from the historic highs reached in August, energy questions are set to dominate talks among G20 countries this weekend at a...