October 23, 2005	Sunday	Ramzan 18, 1426

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Insurance cover for business sought: Terrorism-related risks KARACHI, Oct 22: Pakistan appears nowhere on the global terrorism map drawn up by international insurance and reinsurance companies, but it is coming under increasing pressures of prospective foreign investors to...		Exporters seek freight subsidy KARACHI, Oct 22: Exporters of value-added textile goods are seeking freight subsidy on export consignments being airlifted so that they can make up for delays in meeting shipment schedules caused by...
Indirect taxes up by 74pc in six years KARACHI, Oct 22: The burden of indirect taxes which directly hurt the general public and inflationary in its nature has increased by 74 per cent in the last six years, while...		Restriction for availing duty exemption goes ISLAMABAD, Oct 22: The Central Board of Revenue (CBR) has removed the restriction of registered exporters for availing exemption from customs duty and sales tax under the temporary importation scheme....
Foreign investment up by 135pc in 1st quarter ISLAMABAD, Oct 22: Pakistan has attracted a total foreign investment amounted to $473.8 million during the first quarter (July-Sept) of 2005-06 as against $201 million of the corresponding period of last financial year, registering an increase of 135 per cent....		Lucky Cement third plant begins production KARACHI, Oct 22: As cement manufacturers accelerate their capacity expansion programmes, Lucky Cement has begun the long-awaited commercial production of its third line of expansion project (trial production had started in September)....
EoIs for Lyallpur Chemicals invited ISLAMABAD, Oct 22: The Privatization Commission has invited expressions of interest (EoIs) from prospective investors for acquiring 90 per cent shares of Lyallpur Chemicals and Fertilizers Limited (LCFL)....		SBP eases lending for farm sector KARACHI, Oct 22: The State Bank on Saturday issued a separate set of prudential regulations for agriculture financing to facilitate and encourage the flow of bank credit to the farm sector....
Textile meeting on 24th in Geneva ISLAMABAD, Oct 22: Business, labour and government leaders from key textile and clothing producing and consuming countries will meet on Monday for wide-ranging talks on the future of the industry in...		IT rules clarified ISLAMABAD, Oct 22: The Central Board of Revenue has clarified rules regarding the levy of income tax on employees living in a single multi-storey building or two portion of a house....
Blair says EU budget deal hinges on summit outcome BERLIN, Oct 22: Britain will work to get a deal on a multi-annual European Union budget if the bloc’s leaders agree next week to modernise the EU, Prime Minister Tony Blair was quoted on Friday as saying....		Gold ends higher NEW YORK, Oct 22: Gold rebounded on Friday in New York on bargain hunting by consumers and bullish investors, enjoying extra buying late in the session from a bomb scare near the US Capitol building in Washington D.C....
Dollar gains NEW YORK, Oct 22: The dollar climbed on Friday as the market bought the currency ahead of the weekend based on expectations for higher US interest rates after an investment bank raised their target for the benchmark federal funds rate....		France against EU role in WTO talks BRUSSELS, Oct 22: The campaign by France against EU tactics in WTO talks highlights the possible role of a French veto within the EU but its legal grounds seem weak....
India, Mauritius to sign preferential trade pact PORT LOUIS, Oct 22: Mauritius and India are expected to sign a preferential trade agreement (PTA) to boost the island’s exports and provide India with the opportunity to tap into African markets, senior officials said on Saturday....		Canadian dollar hit by retail sales TORONTO, Oct 22: The Canadian dollar fell sharply on Friday, taking a triple hit from middling retail sales data, an early slump in oil prices and a broadly stronger US dollar....
World oil prices slide, copper strikes new record high LONDON, Oct 22: World oil prices struck a three-month low point in New York this week on easing supply concerns, while strong Chinese demand helped copper reach 4,000 dollars per ton for the first time....		Trade talks need concessions all round: Wolfowitz HELSINKI, Oct 22: World Bank President Paul Wolfowitz said on Saturday all sides need to give some ground if the Doha Round of world trade talks is to succeed....
China’s Wuhan Steel 3rd quarter profit down SHANGHAI, Oct 22: Wuhan Steel, China’s third-largest steel maker, said on Saturday its third-quarter net profit fell 18 per cent as it cut prices due to weak domestic demand....		Investors look for FTSE turnaround LONDON, Oct 22: The British stock market will next week hope to end in positive territory for the first time in a month, as a clutch of heavyweight companies publish third-quarter earnings....
Costly oil not so traumatic for world economies RIYADH, Oct 22: Since the ‘Oil Shock’ of the 70s, things have changed, and changed drastically in many respects. Though it may not be a win-win situation yet, but indeed one thing is certain....		Brisk trading on cotton market KARACHI, Oct 22: A brisk trading was witnessed on the cotton market on Saturday as both spinners and mills made an extensive buying at the prevailing rates amid fears of a short crop....
CBR to launch e-filing of ST returns ISLAMABAD, Oct 22: The Central Board of Revenue has decided to carry out e-filing of sales tax returns in two phases as part of the tax administration reforms....		Opening of accounts in officials’ name barred KARACHI, Oct 22: The State Bank of Pakistan has asked the banks/DFIs to ensure that the government accounts are not opened in the personal names of the officials....
ICAP seminar on Takaful on 26th KARACHI, Oct 22: The Institute of Chartered Accountants of Pakistan (ICAP) will organize a seminar on the concept of ‘Takaful’ here on October 26. An announcement here on Saturday said the...		‘EU, US positions in trade talks too far apart’ HELSINKI, Oct 22: The head of the World Trade Organization said on Saturday that the positions of the United States and the European Union over market access were too far apart...
Investment under CFS declines KARACHI, Oct 22: Investment under the Continuous Funding System (CFS) on the Karachi Stock Exchange last week fell to an eight-week low owing to offloading of positions by some leveraged buyers...		PRGMEA to hire foreign consultants SIALKOT, Oct 22: The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has decided to hire foreign consultants in collaboration with the Export Promotion Bureau for advanced packaging and marketing of country’s export-oriented garments items....
Karachi Port operations KARACHI, Oct 22: Five vessels carrying raw sugar, steel and containers are expected to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was active where half a dozen ships were berthed....		Kuwaiti shares rise KUWAIT, Oct 22: Kuwait’s share index briefly topped 11,000 points intraday Saturday for the first time, and analysts expect the winning streak to continue due to firm third quarter profits and excess liquidity in the market....