October 29, 2005	Saturday	Ramzan 24, 1426

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Etisalat fails to make final payment: PTCL deadline passes ISLAMABAD, Oct 28: Etisalat of UAE did not make the final payment required to take over 26 per cent stake along with management control of Pakistan Telecommunication Company Limited (PTCL) on...		Reserves depletion worries govt ISLAMABAD, Oct 28: The federal government is worried about the continuous depletion in foreign exchange reserves and is looking at ways to closely coordinate with the central bank to reverse the situation, it is learnt....
Paid-up capital limit raised for banks: Uniform CAR replaced KARACHI, Oct 28: The State Bank has raised the minimum requirement of paid-up capital of banks and Development Finance Institutions (DFIs) from existing Rs2 billion to Rs6 billion while the uniform requirement of capital adequacy ratio has also been replaced....		BD doubts Safta ready by January DHAKA, Oct 28: Bangladesh Foreign Minister M. Morshed Khan doubts that the landmark South Asian Free Trade Agreement (Safta) will be ready in time for its scheduled implementation in January, a report said on Friday....
S. Arabia gets nod to join WTO by year-end GENEVA, Oct 28: Saudi Arabia, the top global oil exporter, won the go-ahead from major trading nations on Friday to join the World Trade Organization (WTO), probably by mid-December, after 12 years of tough on-off negotiations....		SSGC declares 15pc dividend KARACHI, Oct 28: Shareholders of Sui Southern Gas Company Limited (SSGC) on Friday approved a 15 per cent dividend (Rs1.50 per share) of Rs10 for the year ending June 30, 2005....
210 bank branches start operation: Quake-hit areas KARACHI, Oct 28: Over 210 branches of commercial banks in the earthquake affected areas of Azad Kashmir and NWFP have been made functional....		Housing finance limit increased ISLAMABAD Oct 28: The Securities and Exchange Commission of Pakistan on Friday announced major changes in the prudential regulations for non-banking finance companies (NBFCs) licensed to conduct housing finance, by modifying a part dealing with housing finance for individual borrowers....
Rice exports may rise to 2.5m tons BEIJING, Oct 28: Pakistan’s rice exports might climb to 2.5 million tons in the 2005/2006 marketing year, with 150,000 tons sold for November and December shipment this week, a senior official from SGS Group said on Friday....		PS sell-off: employees’ suggestions invited KARACHI, Oct 28: Pakistan Steel chairman Lt Gen (Retd) Abdul Qayum has sought written suggestions from every employee of the steel mill about the privatization package....
Oil prices steady LONDON, Oct 28: World oil prices steadied on Friday amid expectations of rising demand for heating fuel during the peak-demand northern hemisphere winter, and signs of higher Chinese demand, dealers said....		Asian stock markets tumble on Wall Street fallout HONG KONG, Oct 28: Asian stocks tumbled to a much lower close on Friday, following Wall Street’s path which was led by an ailing General Motors and a possible indictment of Bush administration officials, dealers said....
Prices ease on cotton market KARACHI, Oct 28: Cotton prices on Friday modestly eased from the recent higher levels, as some of the ginners lowered their asking prices followed by prediction of a future bearish market....		US economy posts robust growth in Q3 WASHINGTON, Oct 28: The US economy grew at a 3.8 per cent rate in the third quarter, according to figures released on Friday that surpassed expectations in a period that saw powerful hurricanes batter the US oil industry....
PTCL profit down by 12.7 per cent KARACHI, Oct 28: Pakistan Telecommunication Company Limited in the first quarter of the fiscal year 2005-06 posted a profit after tax of Rs5.5 billion as compared to Rs6.3...		Telenor revenues up KARACHI, Oct 28: Telenor Pakistan says it is now operational in more than 100 cities and highways across Pakistan as a result of its network expansion in the industry....
Fed and ECB to set tone for markets LONDON, Oct 28: Interest rate meetings in the US and euro zone will dominate financial markets next week, with Federal Reserve hike seen as a done deal and the European Central...		Citigroup braces for Chinese consumer SHANGHAI, Oct 28: Citigroup Inc. is betting on the credit cards and wealth management business in China and shrugging off talk that rivals have taken the lead on the mainland with a string of big domestic investments....
EU offers farm tariff cut to end deadlock in trade talks BRUSSELS, Oct 28: The European Commission offered on Friday its steepest-ever cut in agricultural tariffs in an effort to break a deadlock in world trade talks, but also signalled that France might object....		Karachi Port operations KARACHI, Oct 28: Nine ships, including those whose arrivals were delayed, are expected to arrive at the outer anchorage on Saturday, according to KPT sources....