November 8, 2005	Tuesday	Shawwal 5, 1426

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Pakistan, India to open bank branches KARACHI, Nov 7: Pakistan and India have agreed to open up banking sector and allowed establishing of two bank branches on reciprocal basis after a gap of 40 years....		Oil producers urged to boost investment PARIS, Nov 7: The International Energy Agency warned on Monday that the entire world would suffer if a handful of oil-rich countries in the Middle East and North Africa did not invest sufficiently in energy production over the next 25 years....
Ministers’ bid to save global talks LONDON, Nov 7: Key ministers launched a last-ditch bid on Monday to save global trade talks, with rich and poor states demanding concessions to reach a deal aimed at lifting millions out of poverty....		Islamabad hopes to join APTA BEIJING, Nov 7: China and five other countries South Korea, India, Bangladesh, Sri Lanka and Laos at their ministerial-level meeting held here unanimously decided that the membership and scope of the Bangkok Agreement should be further expanded....
‘Green channel’ for rice exporters sought KARACHI, Nov 7: Union of Small and Medium Enterprises (Unisame) has asked the government to introduce ‘Green Channel’ for basmati rice exporters. In a communication to Commerce Minister Humayun Akhtar Khan,...		SBP to redraft EFS KARACHI, Nov 7: The State Bank has decided to redraft the export finance scheme (EFS). The scheme will not only support exporters, but also help the local manufacturing sector and simplification of procedures in order to provide maximum access to stakeholders....
KSE index crosses two barriers, recovers 227 points KARACHI, Nov 7: The KSE 100-share index on Monday broke through two consecutive barriers, up 227 points or 2.7 per cent on fresh strong speculative buying amid hopes that the PTCL...		Cheerless trading on cotton market KARACHI, Nov 7: The post-Eid session of the cotton market was cheerless as brokers and ginners based in Karachi remained busy in exchanging Eid greetings rather than indulging in fresh buying....
DTRE permission demanded KARACHI, Nov 7: Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) Chairman Bilal Mulla has urged the Central Board of Revenue to grant DTRE permissions within 24 hours so that production...		Oil prices slide on mild US weather LONDON, Nov 7: World oil prices fell strongly on Monday, as mild weather in the US northeast eased concerns about possible shortages of heating fuel during the region’s looming winter, analysts said....
US says no final China textiles deal yet WASHINGTON, Nov 7: The US government said on Monday it was still working to finalize a broad textiles agreement with China after a Chinese industry official said a tentative deal had been reached....		EU battles to meet deadline in budget row BRUSSELS, Nov 7: EU foreign ministers re-launched stalled budget talks on Monday, with Britain standing firmly by its long-cherished EU rebate despite growing pressure to strike a deal by next month....
IMF sees France meeting EU budget goal WASHINGTON, Nov 7: France is finally in sight of getting its finances in line with eurozone rules but needs to step up reforms to accelerate growth and cut unemployment, the International Monetary Fund said on Monday....		China to boost renewable energy use BEIJING, Nov 7: China said on Monday it would spend about $180 billion over the next 15 years to increase its use of renewable energy to 15 per cent of the total generated, from the current seven per cent....
Onus on US, Asia to fix global imbalances BRUSSELS, Nov 7: The United States and Asia bear the main responsibility for reducing global economic imbalances, a eurozone document put to ministers on Monday said....		$2.5bn US rail project NEW YORK, Nov 7: The biggest US railroad project in a century could get under way next year and ease transport constraints from the primary US coal-mining region, a railroad executive said on Monday....
G10 central banks warn of inflation risk BASEL, Nov 7: G10 central bankers maintained their forecast of “robust” global economic growth on Monday but warned about the risk of inflationary pressures, European Central Bank chief Jean-Claude Trichet said....		US insured losses hit $40.8bn in Q3 NEW YORK, Nov 7: US property and casualty insurers paid an all-time record $40.8 billion to homeowners and businesses for losses in 14 states during the third quarter, according to ISO’s...
Eurozone retail sales decline BRUSSELS, Nov 7: Eurozone retail sales slipped by 0.4 per cent in September from August but rose 0.9 per cent compared to the same month the previous year, the European Union’s Eurostat statistics agency said on Monday....		Asian stock markets close weaker HONG KONG, Nov 7: Asian stocks closed weaker on Monday with poor jobs data in the United States, fears over inflation leading to higher interest rates and a possible spread of bird flu weighing on sentiment....
Global oil output sufficient: UAE DUBAI, Nov 7: The United Arab Emirates’ oil minister said on Monday that current oil supplies were sufficient to meet global demand in the fourth quarter of 2005 and early next year....		ECB may still raise interest rates FRANKFURT, Nov 7: Euro zone inflation will probably fall below 2 per cent next year, but the European Central Bank may still raise interest rates if euro zone growth accelerates, ECB...
Gold moves higher in Europe LONDON, Nov 7: Gold edged higher in Europe on Monday after slipping to a near-two-month low on Friday when a strong dollar triggered fund liquidations, but the metal was vulnerable to further correction in the near term....		Palm oil prices lower SINGAPORE, Nov 7: Malaysia’s crude palm oil futures dropped on Monday, reflecting a lack of participants as the market reopened after a long holiday break. Palm oil futures were closed on...
Clarification KARACHI, Nov 7: With reference to a news item appearing in the issue dated Nov 3 about ATM transactions’ failure, MCB in a press release has clarified that its entire ATM network was operational across Pakistan on November 2....		Russian firm ISLAMABAD, Nov 7: Prime Minister Shaukat Aziz on Monday said Pakistan’s economy had stabilized owing to government’s policies during the last five years and added that an enabling environment had been...