December 8, 2005	Thursday	Ziqa’ad 5, 1426

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Pakistan, China hold 2nd round of talks: Free trade pact BEIJING, Dec 7: Pakistan and China started a second round of negotiations on tree trade agreement here on Wednesday, with a pledge to make it an effective document giving boost to their bilateral trade and establishing a mutually beneficial cooperative partnership....		Banks seek higher return on T-bills KARACHI, Dec 7: The State Bank on Wednesday could not raise the liquidity it targeted through the selling of treasury bills mainly because the banks were asking for higher return....
Greater focus on accompanying reforms stressed ISLAMABAD, Dec 7: The trade liberalization and other trade reforms must be followed by a greater focus on accompanying reforms, such as governance, institutional strengthening and infrastructure development, to become a...		Remodelling of economic policies urged KARACHI, Dec 7: Globalization has changed demography of international economy in which there is no room for outdated and adhesive policies for promoting South-South cooperation....
Dollar climbs against euro LONDON, Dec 7: The dollar registered a modest gain against the euro here on Wednesday while the yen stayed close to a 32-month low — 121.39 — against the US currency....		Germany,UK trying to resolve dumping issue LAHORE, Dec 7: Germany and Britain are trying to resolve the issue of anti-dumping duty on Pakistani bedlinen to facilitate its textile exports to European Union....
Stocks decline by 22 points on profit-selling KARACHI, Dec 7: Stocks on Wednesday ran into profit-selling at the higher level on selected counters but the broader market performed credibly well under the lead of bank and cement shares on an active follow-up support....		Spinners, mills indulge in panic buying KARACHI, Dec 7: Brisk trading was witnessed on the cotton market on Wednesday as spinners and mills indulged in panic buying followed by reports of pressure on future supplies owing to a short crop....
HBFC to open offices in 35 small towns KARACHI, Dec 7: The House Building Finance Corporation (HBFC) has appointed 50 service agents for opening up new representative offices in small towns and tehsils to extend its lending activities to...		Oil prices slip on rise in US stocks LONDON, Dec 7: Oil prices fell on Wednesday after news that US stockpiles of crude oil and refined products rose sharply over the past week, easing concerns about a supply crunch, dealers said....
New buyer to invest $800m in KESC KARACHI, Dec 7: KESC chief executive office Frank Scherschmidt has said the new management will invest $800 million to increase its power generation capacity. Talking to a three-member delegation of the...		Strategy to raise marble exports ISLAMABAD, Dec 7: The government is working on a strategy to increase export of marble from current $23 million to $2.44 billion by the year 2015....
‘Trade deal in Hong Kong unlikely’ NEW DELHI, Dec 7: India said on Wednesday a deal at the World Trade Organization (WTO) meeting in Hong Kong this month was unlikely given the deadlock over agricultural and other trade barriers....		China, Pakistan to work together: Developing states’ interest BEIJING, Dec 7: China will work together with Pakistan and other regional countries to protect the interest of developing nations while adopting a “balanced package” at the World Trade Organization (WTO) Doha Round of free trade talks....
‘Political will exists to make WTO talks success’ SYDNEY, Dec 7: Australia’s trade minister said on Wednesday he was optimistic after weekend talks with key economic powers that the political will exists to make World Trade Organization (WTO) talks in Hong Kong this month a success....		Blair defends EU budget proposals LONDON, Dec 7: British Prime Minister Tony Blair defended on Wednesday his proposals for breaking the European Union budget impasse, even as his foreign minister conceded that prospects for a breakthrough were “narrow”....
Import of steel products from India criticized ISLAMABAD, Dec 7: The Islamabad Chamber of Commerce and Industry (ICCI) has criticized the government for allowing import of finished steel products from India which would adversely affect the local industries....		PS chief asks unions to finalize package KARACHI, Dec 7: The Chairman of Pakistan Steel (PS), Lt-Gen (retd) Abdul Qayyum has advised the representatives of all trade unions and associations to finalize their realistic demands for negotiations with...
Karachi Port operation KARACHI, Dec 7: Four ships carrying DAP fertilizer, crude oil and containers are due to arrive at the outer anchorage on Thursday, according to KPT sources....		London sugar rises LONDON, Dec 7: London white sugar futures edged higher on trade buying against speculator selling in a choppy session towards midday on Wednesday, traders said. Front-month March was up $1.40...
Export cargo rates reduced SIALKOT, Dec 7: The Sialkot Dry Port Trust has reduced the bonded cargo transport rates by Rs6,000 and Rs3,000 for a 40-ft and 20-ft container respectively....		Commodity markets LAHORE, Dec 7: The following were Wednesday’s upcountry commodity market rates in rupees. Foodgrains (per 40 kg): Wheat 450; Jowar 300 to 550; Maize 300 to 400; Bajra 550; Barley 500....
Asian stocks close higher HONG KONG, Dec 7: Asian stocks closed mostly higher on Wednesday with offshore funds and bargain hunting returning to the markets which helped Tokyo to resume its upward trend and Seoul to another record close....		BoE holding rates ahead of talks LONDON, Dec 7: Bank of England policymakers were to kick off two-day rate-setting talks later Wednesday, with analysts predicting “no change” from 4.50 per cent for the fourth month in a row....
Gold hits 24-year peaks in Europe LONDON, Dec 7: Heavy fund buying drove gold prices to new 24-year peaks in Europe on Wednesday, but analysts saw the possibility of a sharp correction....		Palm oil prices SINGAPORE, Dec 7: Malaysia’s crude palm oil futures hardly changed at the close on Wednesday but some buying in the physical sector helped the market resist pressure from a weak soyaoil....