December 31, 2005	Saturday	Ziqa’ad 28, 1426

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SBP trims GDP growth forecast to 6-6.6pc: Quarterly report KARACHI, Dec 30: The State Bank of Pakistan sees slower economic growth of 6-6.6 per cent against the target of seven per cent in the fiscal year 2005-06....		Late decision to benefit traders only: Irri-6 price increase LAHORE, Dec 30: Paddy growers on Friday criticized the government’s belated move of increasing the Irri-6 price at a time when 70 per cent of the crop had been sold....
Employees to bid for PS: PC delays bidding ISLAMABAD, Dec 30: The Privatization Commission (PC) has allowed the Employees Management Group (EMG) of Pakistan Steel Mills Corporation (PSMC) to take part in its privatization process for which the scheduled...		Draft rules for real estate investment ISLAMABAD, Dec 30: The Securities and Exchange Commission of Pakistan (SECP) has prepared draft Rules for Real Estate Investment Trusts (REITs) in line with the developments taking place at regional and international markets....
Stocks finish year’s last session on positive note KARACHI, Dec 30: Stocks on Friday closed the old account on a firm note as a section of leading investors and financial institutions covered positions on selected counters but there were no signs of mid-year boom conditions....		Listless trading on cotton market KARACHI, Dec 30: Cotton market on Friday passed through a cheerless session as buyers and sellers kept to the sidelines as their price ideas failed to find a meeting ground....
KSE members reject SECP directive: Non-broker chairman KARACHI, Dec 30: Members of the Karachi Stock Exchange (KSE) on Friday rejected a Resolution proposing changes in the Articles of Association of the stock exchanges, under a directive by the...		CNG price raised by Rs1.25 per kg KARACHI, Dec 30: CNG vehicle owners will have to pay Rs1.25 per kg more from January 1, 2006 after CNG dealers and station owners have unanimously increased its price....
Exemption of textiles from gas tariff hike sought KARACHI, Dec 30: The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has urged the government to exempt the textile sector from the recent hike in gas tariff....		US oil majors in Libya NEW YORK, Dec 30: Three US oil majors have reached agreement to resume oil and gas production in Libya after a two-decade gap, in the latest Western investment in a country once seen as a pariah state....
Oil prices dip LONDON, Dec 30: World oil prices eased on Friday on profit-taking ahead of the New Year but held on to the astonishing 40 per cent gains made over the course of 2005, dealers said....		EU gas supplies BRUSSELS, Dec 30: The European Commission on Friday called a special meeting next week to review gas supplies amid concerns about the knock-on effect if Russia goes ahead with a threat...
Dollar moves higher in quiet trade LONDON, Dec 30: The US dollar moved higher against the euro on Friday, the last trading day of 2005, and would start 2006 in a stronger position compared with the start of the year, dealers said....		China ends price controls for thermal coal BEIJING, Dec 30: China will end price controls on the coal used for generating electricity from 2006 and allow miners and power firms to negotiate their own prices, the country’s top economic planning body said in a statement....
Saudi Pak ratings upgraded KARACHI, Dec 30: The JCR-VIS Credit Rating Company has upgraded rating of Saudi Pak Commercial Bank (SPCBL) from BBB/A-2 (Triple B/A-Two) to A/A-2 (single A/A-Two) with ‘stable’ outlook....		Indian rupee MUMBAI, Dec 30: The rupee was lifted by robust foreign capital inflows to its strongest close in 11 weeks on Friday, but the currency still ended 3.5pc...
Gold shines in 2005 LONDON, Dec 30: Gold served up glittering returns in 2005 as many funds and investors included it in their portfolios for the first time in years and analysts saw no sign of the rally fizzling out in 2006....		Palm oil ends firm KUALA LUMPUR, Dec 30: Malaysian crude palm oil futures ended 2005 mostly firm after a rise in prices of US soyaoil prompted players to lend technical support to the local market....
European shares ease on final trading day of 2005 LONDON, Dec 30: European stock markets fell on Friday, with little corporate news and thin volumes marking the final trading day of 2005, but they showed strong double-digit gains over the course of the year....		Karachi Port operations KARACHI, Dec 30: Six ships carrying steel scrap, palm oil and to load molasses and naphtha are expected to arrive at the outer anchorage on Saturday, according to KPT sources....