November 15, 2005	Tuesday	Shawwal 12, 1426

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KESC buyers pay $100m as first instalment: LoA issued ISLAMABAD, Nov 14: The Privatization Commission on Monday completed Rs20.24 billion sale of the 73 per cent shares of the Karachi Electric Supply Company (KESC) to Saudi-led consortium in one of the country’s troubled privatization deals....		Privatization of PSO in advanced stages KARACHI, Nov 14: The privatization of Pakistan State Oil (PSO) -— the largest oil marketing company in Pakistan -— is in advanced stages, an impeccable source at the Privatization Commission told Dawn on Monday....
Construction activities still slow: Shortage of labour KARACHI, Nov 14: Construction activities in the city have yet to pick up momentum as hardly 10 per cent of workers belonging to quake-affected areas have returned so far....		Conditions missing for independent central bank: SBP conference KARACHI, Nov 14: The monetary policy cannot be formulated and implemented in isolation of government policies no matter how independent a central bank is, whether of an advanced or a developing country....
Amendment in Income Tax Ord ISLAMABAD, Nov 14: The Central Board of Revenue has curtailed the retrospectivity of its earlier decision of withdrawing the facility of final tax regime from manufacturers....		Stocks sustain gains above 8,800-point barrier KARACHI, Nov 14: The KSE 100-share index on Monday breached through the psychological barrier of 8,800 at 8,838.26, up by 44.33 points aided by active buying in most of the leading base shares....
PTCL sale: another round of meetings planned ISLAMABAD, Nov 14: The ministry of privatization and investment and the Emirates Telecommunication Corporation will hold another round of meetings to discuss outstanding issues regarding the sale of 26 per cent shares of Pakistan Telecommunications Company Ltd (PTCL) to Etisalat....		Completion of KESC sell-off welcomed KARACHI, Nov 14: Finalization of privatization process of Karachi Electric Supply Corporation (KESC) was welcomed by the small shareholders of the corporation....
REAP seeks govt help to boost exports KARACHI, Nov 14: Rice exporters are eyeing the target of $2.5 billion under their ‘Rice Vision 2010’ for which efforts are under way to enhance and improve supply side of the...		US able to fund trade gap, says Greenspan MEXICO CITY, Nov 14: The United States is having little trouble funding its big current account gap, but foreign investors will eventually “balk” at lending the money to cover it, Federal Reserve Chairman Alan Greenspan said on Monday....
EBRD says newcomers’ deficits set to rise WARSAW, Nov 14: Fiscal deficits in new EU members from central and eastern Europe are set to rise this year with the biggest newcomers particularly reluctant to pay the political price for spending cuts, the EBRD said on Monday....		Criteria for selecting a mutual fund scheme NEW DELHI, Nov 14: How does one go about selecting a mutual fund scheme? Is it the fund strategy, portfolio composition or returns? Since returns are what everyone is looking at,...
Cotton prices rise on panic-buying KARACHI, Nov 14: Trading on the cotton market on Monday resumed on a bullish note as mills and spinners haunted by a lower crop continued to make panic buying at the ginners’ asking prices....		ICCI warns power rates increase to hit industry ISLAMABAD, Nov 14: The Islamabad Chambers of Commerce and Industry (ICCI) has warned that a further increase in electricity rates will adversely affect economic activities in the country....
Karachi Port operations KARACHI, Nov 14: Six ships carrying palm oil, steel and containers are due to arrive at the outer anchorage on Tuesday, according to KPT sources. Berthing activity at the wharves was active where nine ships were berthed....		Port Qasim KARACHI, Nov 14: Three ships carrying containers and diesel oil were arranged berthing at QICT and Fotco Terminal during the last 24 hours, said a PQA press release on Monday....
Debt rating NEW YORK, Nov 14: Fitch Ratings raised Venezuela’s sovereign credit rating on Monday, saying hefty income from oil put the country in better shape to repay its debts....		Asian stock markets close mostly lower HONG KONG, Nov 14: Asian stocks closed mostly lower on Monday with regional trade consolidating amid a lack of fresh leads and on a recent bounce, which followed a difficult October, dealers said....
Malaysian palm oil futures KUALA LUMPUR, Nov 14: Malaysia’s crude palm oil futures fell on Monday as players trimmed positions after a drop in soyaoil prices and ahead of export data for the first half of November, dealers said....		US trade deficit with China BEIJING, Nov 14: US Trade Representative Rob Portman said Monday China’s trade surplus with the United States was likely to exceed $200 billion this year, roughly $40 billion more than 2004....