October 28, 2005	Friday	Ramzan 23, 1426

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PPIB okays thermal projects of $2bn ISLAMABAD, Oct 27: The federal government on Thursday approved setting up of about 3,000-mw of thermal power projects in the private sector with an estimated total investment of more than $2 billion....		Global goods exports growth falters GENEVA, Oct 27: Global exports of goods are expected to grow by 6.5 per cent this year, down from nine-per cent growth in 2004, the World Trade Organization said on Thursday....
Sindh govt to provide 60,000 tents by Dec 15: Agreement signed with manufacturers KARACHI, Oct 27: Local tent makers have agreed to supply initially 60,000 fully fabricated tents to the Sindh government in the next one and a half months at the rate of Rs6,200 per tent....		‘Indian economy to grow at 7pc’ NEW DELHI, Oct 27: Prime Minister Manmohan Singh said on Thursday that India’s economy was poised to grow at seven per cent in the fiscal year ending March 2006, but that a slump in the farm sector was styming growth prospects....
WTO rules against EU banana tariff GENEVA, Oct 27: The World Trade Organization on Thursday struck down a proposed European Union tariff on bananas, saying it was too high to allow fair competition from Latin American exporters....		Time limit for 6pc R&D support extended KARACHI, Oct 27: The State Bank on Thursday facilitated the garment industry by extending the time for submission of applications for 6 per cent research and development support....
Index recovers 82 points on higher corporate results KARACHI, Oct 27: Stocks on Thursday rose from the previous lower levels as reports of higher corporate earnings by most of leading companies triggered active short-covering in bank, oil, cement and auto shares followed by a tactical run-up....		Mills building up long positions KARACHI, Oct 27: The cotton market on Thursday showed a firm trend as mills continued to build up long positions at the current levels fearing further increase in prices....
Doha round success to boost world trade: IMF WASHINGTON, Oct 27: The International Monetary Fund hopes for a successful conclusion of world trade talks on agriculture, which would bring “tremendously positive” effects for the global economy and poor nations, an IMF spokesman said on Thursday....		SBP designs framework for risk management KARACHI, Oct 27: The State Bank has designed stress-testing framework for all banks and DFIs to improve risk management capacity to ensure the financial health of these institutions....
PPL profit rises KARACHI, Oct 27: At the annual general meeting of Pakistan Petroleum Limited held on Thursday, directors told shareholders that PPL had earned an after tax profit for the year 2004-05 (July-June) amounting to Rs8.6...		Financial results KARACHI, Oct 27: PICIC Asset Management Company Ltd — investment adviser to PICIC Investment Fund (PIF) and PICIC Growth Fund (PGF) –- on Thursday announced results of the funds for 1Q05 ending Sept 30....
Oil prices rebound with focus on winter LONDON, Oct 27: World oil prices rose on Thursday as the market began to focus on the upcoming northern hemisphere winter when demand for heating fuel was forecast to jump....		China seen importing more rice BEIJING, Oct 27: China, the world’s largest rice consumer, is likely to import more rice than it exports in the coming years even though a bumper harvest this year will boost exports next year, industry officials said on Thursday....
Biggest banks’ earnings rise PARIS, Oct 27: The net earnings of the world’s biggest banks rose by a third last year, due to large amounts of loans and a drop in the cost of risk, according to a Bank of France study published on Thursday....		US durable goods orders fall WASHINGTON, Oct 27: Government reports on Thursday suggested a possible cooling in the housing market and some economic slowdown due to high energy prices, but analysts said the economy remained robust...
Sweden to cut small firm taxes STOCKHOLM, Oct 27: Swedish Finance Minister Par Nuder said on Thursday he had proposed changes to tax rules for small and medium-sized companies which would lead to 1 billion Swedish crowns ($127.4...		Karachi Port operations KARACHI, Oct 27: Six ships carrying sugar, chemicals and to load rice are expected to arrive at the outer anchorage on Friday, according to KPT sources....
Asian stock markets mostly lower HONG KONG, Oct 27: Asian stocks closed mostly lower on Thursday, after drifting throughout the day amid a lack of fresh positive leads following further weakness on Wall Street, dealers said....		Europe seeks to stay ahead of emerging Asian giants HAMPTON COURT, Oct 27: EU leaders sought on Thursday to thrash out a strategy to drag Europe out of its economic malaise and avoid being overtaken by rising Asian giants China and India....
Palm oil prices up KUALA LUMPUR, Oct 27: Malaysian crude palm oil futures rose more than one percent on Thursday, spurred by talk that India could reduce duties for some palm oil products....		Boots sees interim profits slip LONDON, Oct 27: British health and beauty retailer Boots posted on Thursday a 9.6-per cent fall in pre-tax profits for the first six months of its financial year, but remained confident over the proposed merger with peer Alliance Unichem....
Budget deal HAMPTON COURT, Oct 27: British Prime Minister Tony Blair conceded on Thursday that an EU budget deal is “a tall order,” but said it is crucial for the bloc’s future and...		Commodity markets LAHORE, Oct 27: The following were Thursday’s upcountry commodity market rates in rupees. Foodgrains (per 40 kg): Wheat 440; Jowar 400 to 450; Maize 250 to 450; Bajra 520; Barley 540....