November 1, 2005	Tuesday	Ramzan 27, 1426

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State Bank for strong audit, penalty: Flawed tax system KARACHI, Oct 31: The State Bank of Pakistan has pleaded for a strong audit system and a severe penalty structure in the tax administration to check tax frauds, concealments of income,...		Credit to private sector falls 41pc KARACHI, Oct 31: Private sector borrowing from banks fell drastically by over 41 per cent during July 1, 2005 to October 8, 2005 period reflecting a slowdown in economic activities which may turn achieving of GDP growth target a bit difficult....
Govt team rejects tents by three manufacturers KARACHI, Oct 31: A joint inspection team of Pakistan Army and Ministry of Industries has rejected the initial production of fully fabricated tents of three manufacturers –- destined for quake-hit areas...		Import bill of POL products up 52.68pc ISLAMABAD, Oct 31: The import bill of petroleum products surged by 52.68 per cent to $1.457 billion during the first quarter (July-Sept) of the current fiscal year, as against $0.954...
CCoP may consider PTCL, KESC deals today ISLAMABAD, Oct 31: The Cabinet Committee on Privatization (CCoP) is likely to take up two major privatization deals on Tuesday including another extension to Etisalat of UAE to complete the PTCL...		NBP, MCB and PSO declare results KARACHI, Oct 31: Three of the heavyweights — National Bank of Pakistan (NBP), Muslim Commercial Bank (MCB) and Pakistan State Oil (PSO) — were among 17 companies that announced results on...
Buying support at dips averts larger fall KARACHI, Oct 31: Negative reports about the PTCL deal after Etisalat failed to honour its final payment commitment within the extended deadline triggered panic selling in it and some other pivotals,...		Ginners raise asking prices KARACHI, Oct 31: The cotton market on Monday showed a firm trend as ginners raised their asking prices followed by reports of a considerable decline in arrivals of phutti from growers....
Automobiles’ import surges 26pc in 1stQ LAHORE, Oct 31: Import of new and old passenger cars, SUVs and pick-ups during the first quarter (July-Sept) of the current financial year has surged by about 26 per cent as compared to the corresponding period last year....		SPI rises by 0.28pc ISLAMABAD, Oct 31: The Sensitive Price Index (SPI) rose by 0.28 per cent during the week ending October 27, over the previous week, according to the weekly price data released by the Federal Bureau of Statistics here on Monday....
SingTel interested in PTCL SINGAPORE, Oct 31: Singapore Telecommunication Company, Southeast Asia’s biggest telecom provider by market capitalization, said on Monday it remained interested in investing in Pakistan, two days after the country’s biggest telecommunication privatization failed....		Oil prices shed more than $1 LONDON, Oct 31: World oil prices lost more than a dollar on Monday, as expectations of warmer weather in the United States and Opec assurances that it has adequate spare capacity...
Opec sees crude at $45-55 in 2006 MOSCOW, Oct 31: Opec expects world oil prices to stabilize in a range of $45-$55 per barrel next year and has ample spare capacity to meet demand, acting Secretary-General Adnan Shihab-Eldin said on Monday....		Karachi Port operations KARACHI, Oct 31: Seven ships carrying chemicals and containers are expected to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was fairly active...
Key WTO players to meet in London GENEVA, Oct 31: Five leading players in world trade are set to try once again to resolve bitter disputes that are holding up negotiations on a treaty to liberalize global commerce, diplomats said on Monday....		July-Oct revenue collection up 17pc ISLAMABAD, Oct 31: The Central Board of Revenue collected Rs195.1 billion during the first four months (July-October) of the current fiscal year, as against Rs166.631 billion during the same period last year, indicating an increase of 17.1...
Turkish trade deficit ANKARA, Oct 31: Turkey’s trade deficit expanded 26.4 per cent to $32.1 billion (27 billion euros) in the third quarter from $25.4 billion in the same period last year, the State Statistics Institute said on Monday....		Training KARACHI, Oct 31: The Textile Garment Skill Development Board will impart training to workers in 56 related factories all over the country. Foreign and local consultants will be hired for improving...
Asian stocks close sharply higher HONG KONG, Oct 31: Asian stocks closed sharply higher on Monday on the back of a strong rally on Wall Street where robust growth figures shook off concerns over the indictment of a key White House aide, dealers said....		Malaysian palm oil firm BANGKOK, Oct 31: Malaysia’s crude palm oil futures ended firmer on Monday on short covering, but it could be under pressure when it re-opens on Wednesday after India decided to raise the base import prices of palm oils, dealers said....