December 2, 2005	Friday	Shawwal 29, 1426

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Four major state units suffer huge losses ISLAMABAD, Dec 1: Four out of five major public sector corporations went into significant losses or failed to meet their revenue targets during the first three months (July-September) of the current financial year because of higher international oil prices....		SECP-KSE tussle more about power KARACHI, Dec 1: The 70-member strong broker ‘biradari’ that made a lot of sound and fury at an informal meeting at the Karachi Stock Exchange on Thursday, did not seem to understand the underlying issue....
KESC transferred to new buyer KARACHI, Dec 1: Privatization Minister Dr Abdul Hafeez Sheikh has expressed the confidence that Karachi’s lights will glow brighter than ever before after the successful completion of the privatization of Karachi Electric Supply Corporation (KESC)....		Pulses, vegetables, poultry cost more KARACHI, Dec 1: The retail price of pulses has returned to the pre-Ramazan level, rising by two to 16 per cent, while prices of poultry products continue remaining on the higher side....
President lauds Ishrat’s services KARACHI, Dec 1: President Pervez Musharraf on Thursday said that Dr Ishrat Husain was not only one of the best central bank governors the country ever had, but also an outstanding...		Tawfiq made SBP acting chief KARACHI, Dec 1: Tawfiq A. Husain has been appointed as acting governor of the State Bank of Pakistan with effect from December 2, 2005. However, the space for speculation about the new governor remains open....
Directives not withdrawn: SECP ISLAMABAD, Dec 1: The Securities and Exchange Commission of Pakistan (SECP) here on Thursday clarified that it had not withdrawn the directives issued to the Karachi, Lahore and Islamabad stock exchanges...		Electronic filing of excise return ISLAMABAD, Dec 1: The Central Board of Revenue has notified rules for filing of federal excise return electronically. These rules were notified through an SRO1185 issued here on Thursday....
EU budget BRUSSELS, Dec 1: EU governments, the European Commission and the European Parliament have reached a compromise for a total budget next year of 111.969 billion euros ($131.516...		KSE 100-share index recovers 54.60 points KARACHI, Dec 1: Stocks on Thursday drove bears out of the market as investors made an active short-covering at the overnight lows aided by reports of some positive developments on the corporate front and market talk of higher interim dividends....
‘Peace in Balochistan can attract investment’ QUETTA, Dec 1: German Ambassador to Pakistan Dr Gunter Mulack has stressed the need for maintaining peace and order in Balochistan to attract foreign investment. Speaking to the business community of...		Spinners, mills indulge in panic buying KARACHI, Dec 1: Cotton prices on Thursday showed a modest increase of Rs20 per maund as spinners and mills continued to make panic buying ahead of arrival figures of phutti for the fortnight ending Nov 30....
SECP endorses FPCCI proposal on trade ISLAMABAD, Dec 1: The Securities and Exchange Commission of Pakistan on Thursday endorsed a proposal of the Federation of Pakistan Chambers of Commerce and Industry that members of each trade organization...		US wants G7 to push for trade talks progress LONDON, Dec 1: Finance officials from the world’s rich nations should use a weekend summit in London to push for progress on lagging global trade talks that could potentially benefit the world’s poor, senior US Treasury officials say....
Industry conference opens today KARACHI, Dec 1: A two-day first Pakistan Industry Conference is beginning in the city from Friday in which top government dignitaries, senior bureaucrats, corporate leaders and industry and trade captains are participating....		Turkey to boost trade with Indonesia Jakarta, Dec 1: Turkey wishes to increase its trade transactions with Indonesia to $1 billion by 2007, the head of the Turkish Export Promotion Center, Tuncer Kayalar, told newsmen here on Wednesday....
ECB raises eurozone growth forecast FRANKFURT, Dec 1: The European Central Bank said on Thursday it was revising upwards slightly its eurozone growth forecasts for 2005 and 2006 to 1.4 per cent and 1.9...		Russian reserves MOSCOW, Dec 1: The Bank of Russia said on Thursday its reserves of gold and foreign currency had increased by $3.9 billion (3.3 billion euros) in the week to November 25, reaching a new record of $167.2...
Karachi Port operations KARACHI, Dec 1: Seven ships carrying cars and fertilizer and loading cement are expected to arrive at the outer anchorage on Friday, according to KPT sources....		Partnership KARACHI, Dec 1: Visa International, world’s leading payment brand, and 1 LINK Limited, Pakistan’s largest shared ATM network, have announced partnership in the country. 1 LINK will now provide a switching...
Asian stocks close mixed HONG KONG, Dec 1: Asian stocks closed mixed on Thursday with the lacklustre performance overshadowed by a booming close in Tokyo where the benchmark finished above 15,000 points for the first time in five years....		Europe gold steady below peaks but upturn likely LONDON, Dec 1: Gold hovered in European trade on Thursday below this week’s 18-year peak but the precious metal was seen consolidating for a while and gathering steam to launch another rally, dealers said....
BoE’s Large-inflation expectations key to UK rates LONDON, Dec 1: Any signs that inflation expectations were coming unstuck would suggest a need for higher interest rates than otherwise, Bank of England Monetary Policy Committee member Andrew Large said on Thursday....		Palm oil lower KUALA LUMPUR, Dec 1: Malaysian palm oil fell for a fourth straight day on Thursday as worries about thin sales and surging stocks of oil kept market bulls away....