December 3, 2005	Saturday	Shawwal 30, 1426

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PM expects inflow of $2-3bn in 2005-06: Investment, sell-off KARACHI, Dec 2: Prime Minister Shaukat Aziz expects the inflow of direct and portfolio foreign investment with privatization proceeds will range between $2 and $3 billion in the current fiscal year...		Tight monetary policy to continue: Change of guard at SBP KARACHI, Dec 2: The State Bank continued to pursue the tight monetary policy as it intervened in the money market on Friday and picked up the liquidity, raising the inter-bank money rates....
PEFG fails to provide cover to exporters: Post-shipment insurance KARACHI, Dec 2: The Pakistan Export Finance Guarantee Agency (PEFG), even after collecting premium amount from exporters, is not providing post-shipment insurance cover to the export business which was causing financial losses to exporters for no fault of their own....		Import of POL products up 62.07 per cent ISLAMABAD, Dec 2: The import bill of petroleum products recorded a high growth of 62.07 per cent to $1.983 billion during the July-October period of the current fiscal year against $1.224...
Stocks ignore SECP directive, rise 145.88 points KARACHI, Dec 2: Stocks on Friday staged a snap recovery on heavy buying in leading index shares apparently ignoring possible negative fallout on the share business after the SECP directive about the election of non-members as chairmen of the bourses....		Cotton market lacks lustre KARACHI, Dec 2: Physical business on the cotton market on Friday significantly shrank as both ginners and spinners kept to the sidelines apparently awaiting arrival figures of phutti for the fortnight ending Nov 30....
National Competition Commission to replace MCA ISLAMABAD, Dec 2: The government has decided in principle to abolish the Monopoly Control Authority (MCA) and replace it with a National Competition Commission to synchronize all regulatory authorities for creating an overall competitive environment in the country....		South Asian nations finalize free trade deal NEW DELHI, Dec 2: Seven South Asian countries have finalized an agreement to set up a free trade area, the Indian government said on Friday, a move predicted to more than double the size of the regional market....
India’s fiscal deficit rises by 48pc NEW DELHI, Dec 2: The India’s fiscal deficit for April-October ’05 has reached Rs 920.68 billion up 48 per cent from Rs 628.79 billion during the same year-ago period....		SECP directive to LSE ISLAMABAD, Dec 2: The Securities and Exchange Commission of Pakistan here on Friday said the directive it issued to the Lahore Stock Exchange on Tuesday was capable of immediate implementation without reference to the general body of the LSE....
Oil prices increase LONDON, Dec 2: Oil prices rose on Friday amid forecasts that colder weather in the United States could drive up demand for heating fuel, dealers said....		Dollar stable after US jobs data LONDON, Dec 2: The dollar rose slightly against the euro on Friday but markets showed little reaction to the release of employment data showing that the US economy had created 215,000 jobs in November, dealers said....
ECB’s Trichet defends rate hike LUXEMBOURG, Dec 2: ECB president Jean-Claude Trichet on Friday defended the European Central Bank’s controversial move to lift interest rates by a quarter per centage point as a “good decision”....		Britain sticks to demand for EU rebate: Blair BUDAPEST, Dec 2: British Prime Minister Tony Blair said on Friday that Britain will not back off from its demand for a rebate from the European Union budget but is willing...
EU trade chief casts doubt over summit on WTO talks GENEVA, Dec 2: European Union trade chief Peter Mandelson on Friday said he doubted whether it would be possible to hold a summit of the Group of Seven economic powers and key developing nations to discuss faltering global trade talks....		China 2006 trade surplus to fall BEIJING, Dec 2: China’s billowing trade surplus is likely to narrow in 2006 as the government steps up efforts to spur consumption and discourages excessive low-end exports, a top government economist said on Friday....
Mobilink KARACHI, Dec 2: Mobilink and Research In Motion (RIM) have launched BlackBerry to Mobilink customers in Pakistan. Mobilink is offering two handset models — BlackBerry 7290 and BlackBerry 7100g —, BlackBerry Internet Service and BlackBerry Enterprise Server....		Funds push gold to 23-year high LONDON, Dec 2: Gold spiked to a 23-year high and silver rose to its highest for 18 years on Friday in a volatile bull market driven by fund managers, who are seen pushing the market higher, dealers said....
US economy adds 215,000 jobs in Nov WASHINGTON, Dec 2: The US economy generated 215,000 jobs in November, the Labour Department said on Friday, in further evidence of the recovery from devastation of hurricanes Katrina and Rita....		Palm oil up KUALA LUMPUR, Dec 2: Malaysian palm oil closed up 0.7 per cent after technical buying in late trade propped up a market down from the start of the week till early Friday....
Asian stocks roar ahead as inflation fears abate HONG KONG, Dec 2: Asian stocks roared ahead on Friday after fears of inflation induced interest rate hikes abated in the United States in response to the release of softer than expected consumer spending figures....		Karachi Port operations KARACHI, Dec 2: Seven vessels carrying containers and to load rice and cement are expected to arrive at the outer anchorage on Saturday, according to KPT sources....