December 17, 2005	Saturday	Ziqa’ad 14, 1426

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Govt nets Rs25 on one litre of petrol KARACHI, Dec 16: The government pockets Rs25 on one litre petrol in the shape of petroleum development levy (PDL), excise duty and general sales tax, while it nets around Rs8 on one litre diesel....		Revised WTO draft text to be issued today HONG KONG, Dec 16: The Hong Kong ministerial will issue a revised draft text on Saturday to narrow the differences between rich and poor members of the multilateral trading regime and end the conference with a success....
Poor nations form powerful bloc HONG KONG, Dec 16: Poor countries on Friday formed a powerful bloc comprising 110-member countries to mount pressure on rich countries, particularly the European Union, to yield some gains in the...		EU blamed for Doha Round log-jam HONG KONG, Dec 16: The current log-jam in the Doha Round is being blamed on the European Union’s failure to match the level of tariff reduction the G20 has offered on...
Economy gaining strength: PM KARACHI, Dec 16: Terming the private sector as the real engine of growth and development, Prime Minister Shaukat Aziz has asked the business community to take full advantage of investment-friendly policies and enabling environment provided by the government....		AIDS bodies reject amendment to TRIPS HONG KONG, Dec 16: The amendment to the Trade Related Intellectual Property System (TRIPS) hailed by WTO members fails to ensure an access to affordable medicines needed for AIDS treatment....
Outflows cut forex reserves by $1.29bn KARACHI, Dec 16: The country received slightly higher remittances in the first five months (July-Nov) of the current fiscal compared to the corresponding period of last year but the outflow of...		Indonesia to discuss ways to boost trade HONG KONG, Dec 16: Indonesia will soon send a technical team to Pakistan to work details for expanding bilateral trade between the two countries. This was stated by Pakistan’s Commerce Minister Humayun Akhtar Khan at a press conference here on Friday....
Stock market extends overnight rally KARACHI, Dec 16: The overnight rally was extended on the stock market on Friday as leading bank and oil shares posted fresh gains under the lead of National Bank and OGDC amid brisk activity....		Spinners make active covering purchases KARACHI, Dec 16: Trading activity on the cotton market on Friday showed a sizable expansion as some leading spinners’ group made active covering purchases against their forward sales of cotton yarn....
Trade deficit rises by 146pc in five months ISLAMABAD, Dec 16: Pakistan’s trade deficit rose by 146 per cent in the first five months (July-November) of the current fiscal year against the same period of 2004-05....		Parliamentarians call for firm commitment to Doha Round HONG KONG, Dec 16: The Inter Parliamentary Union (IPU) on Friday adopted a declaration urging ministers of the member countries to confirm their commitment to the conclusion of the Doha Development Round by end of 2006....
US current account deficit shows drop WASHINGTON, Dec 16: The US current account deficit fell slightly in the third quarter on a jump in payments from foreign insurance companies for hurricane-related damage, the Commerce Department reported Friday....		Opec sees higher oil demand for 2006 VIENNA, Dec 16: The Opec on Friday raised its forecast for growth in oil demand next year based on predictions of stronger-than-expected expansion of the world economy....
Karachi Port operations KARACHI, Dec 16: Seven ships carrying steel coils, iron scrap and to load cement are due to arrive at the outer anchorage on Saturday, according to KPT sources....		Services sector HONG KONG, Dec 16: The six major developing countries have demanded withdrawal of a controversial clause from the draft ministerial text on the services sector. According to a joint letter sent...
Asian stocks close mixed HONG KONG, Dec 16: Asian stocks closed mixed on Friday with a lack of direction from Wall Street and another fall in Tokyo dampening sentiment after an appreciating yen eroded the value of Japanese exporters....		LSE investors snub Macquarie amid rival merger talk PARIS/LONDON, Dec 16: The London Stock Exchange’s two biggest shareholders rejected a 1.5 billion pound ($2.65 billion) offer from Macquarie Bank on Friday amid reports that rival suitors Deutsche Boerse and...
Gold bounces back above $500 LONDON, Dec 16: Gold bounced back above $500/oz in Europe on Friday, gaining nearly two per cent from an earlier two-week low scored when the yen’s rise against the dollar sparked heavy liquidation in Japan....		Palm oil higher KUALA LUMPUR, Dec 16: Malaysian crude palm oil futures ended up on Friday, returning above 1,400 ringgit, but dealers said they were uncertain if that level could be defended in days ahead....