October 25, 2005	Tuesday	Ramzan 20, 1426

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Exporters for stable exchange rates KARACHI, Oct 24: Despite ample supply in the open market the US dollar remained stronger against the rupee, but on Monday the greenback was about to slip below the psychological mark of Rs60....		China textile exports grow by 20.5pc: Post-quota regime GENEVA, Oct 24: China’s textile and clothing exports have grown by more than one fifth since the controversial end of global quotas at the beginning of the year, the International Labour Organization said on Monday....
Mandelson says farm talks on ‘knife edge’ BRUSSELS, Oct 24: The European Union must open its farm sector to greater foreign competition as part of world trade talks which are “on a knife edge,” EU trade chief Peter Mandelson warned on Monday....		CBR chief asks collectors to submit reports: Under-valuation ISLAMABAD, Oct 24: Central Board of Revenue Chairman M. Abdullah Yousuf on Monday asked collectors of customs to carry out a study for evolving strategy to reduce the menace of under-valuation and misdeclaration....
Germany approves energy project LAHORE, Oct 24: The German Ministry of Economic Cooperation (BMZ) has approved the Renewable Energy and Energy Efficiency (REEE) project for Pakistan. It was disclosed by Guntram Glassbrenner, an energy efficiency...		Misuse of duty-free imports feared KARACHI, Oct 24: The Pakistan Woollen Mills Association (PWMA) has stressed the need for making the duty-free import of blankets conditional with import and distribution by relief agencies, NGOs, social organizations and aid suppliers....
Stocks recover 119 points amid good corporate results KARACHI, Oct 24: Stocks on Monday recovered from the last weekend lows as dividend-aided covering purchases put the market back on the rails, although underlying sentiment was still a bit shaky....		Prices move higher on cotton market KARACHI, Oct 24: Cotton market on Monday reopened on a higher note as ginners raised their asking prices in line with the phutti rates at which growers are fixing their unsold stocks....
Oil prices fall sharply LONDON, Oct 24: World oil prices fell sharply on Monday as Hurricane Wilma appeared to have missed energy facilities in the US Gulf of Mexico, analysts said....		Bush chooses Bernanke as Greenspan successor WASHINGTON, Oct 24: President George W. Bush on Monday nominated his economic adviser Ben Bernanke as the new Federal Reserve chairman, saying the economist “commands deep respect from the global financial community.”...
Trade talks with Jakarta begin today ISLAMABAD, Oct 24: Pakistan and Indonesia will start on Tuesday talks on a framework agreement on comprehensive economic partnership. An official announcement on Monday said that a 10-member Indonesian delegation had...		Mittal Steel buys Ukraine giant KIEV, Oct 24: With a bid of $4.8 billion, the world’s top steel maker Mittal Steel won a re-run auction of Ukraine’s Kryvorizhstal giant on Monday, in a sale the “orange...
Strategy for Rabi crops ISLAMABAD, Oct 24: The bi-annual meeting of the Federal Committee on Agriculture (FCA) will approve a strategy for Rabi crops here on Tuesday. Federal Minister for Food, Agriculture and Livestock Sikandar...		High oil prices earn windfall for producers RIYADH, Oct 24: The oil producing Gulf Arab states are reaping the benefits of higher oil revenues, with highest ever oil revenues in decades. Saudi Arabian economy, the largest and the...
Model customs collects Rs9bn in six months ISLAMABAD, Oct 24: The Model Customs Collectorate, Karachi has collected Rs9 billion on clearance of 17,018 consignments at import stage during the last six months of the calendar year 2005....		Millicom plans to sell Pakcom STOCKHOLM, Oct 24: Luxembourg-based telecoms operator Millicom, owned by Sweden’s Kinnevik, said on Monday it was discussing the sale of one of its Pakistani units, Pakcom....
France to sell 15pc shares of energy firm PARIS, Oct 24: Electricite de France, the world’s biggest civilian nuclear energy producer, is to move towards part-privatization on Friday, the French government announced on Monday, setting the scene for one...		Syria plans to curb fuel smuggling DAMASCUS, Oct 24: Syria is struggling to ease chronic petrol and diesel shortages caused by rampant smuggling to neighbouring countries amid soaring world oil prices. Smugglers have been cashing in on...
Karachi Port operations KARACHI, Oct 24: Ten ships carrying trucks and to load cement are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. A record cargo of 0.206m...		Port Qasim KARACHI, Oct 24: Two ships carrying diesel oil and LPG were berthed at Fotco Oil Terminal and EVT during the last 24 hours, said a PQA press release on Monday....
RBI cautions oil price pass-through incomplete MUMBAI, Oct 24: India’s central bank cautioned on Monday that the pass-through of high international oil prices to domestic prices was incomplete and that second-round inflation effects needed to be taken into account....		ABL profit KARACHI, Oct 24: Pre-tax profit of Allied Bank jumped by 20 times to Rs3.394 billion during the third quarter ended September 30, 2005, as compared to Rs163 million in the same period last year....
Asian stock markets close lower HONG KONG, Oct 24: Asian stocks closed lower on Monday in uncertain trade after Wall Street failed to provide a solid lead for investors who remain anxious after recent sharp falls amid forecasts of rising inflation, dealers said....		Leading British shares close higher LONDON, Oct 24: Leading British shares closed higher on Monday, grabbing back part of last week’s steep losses as oil majors BP and Royal Dutch Shell bounced in anticipation of results this week, while caterer Compass Group gained on bid talk....
Palm oil slides in thin trade KUALA LUMPUR, Oct 24: Malaysian palm oil closed down half a per cent on Monday, prolonging a weak trend from last week, after fresh losses in rival US soyaoil....		Europe gold eases LONDON, Oct 24: Gold slipped in Europe on Monday from the previous session’s level when it spiked due to a bomb scare in the United States, with market players keeping an eye on currency movements and consumer demand....