May 18, 2006	Thursday	Rabi-us-Sani 19, 1427

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Banks lend Rs366.3bn to private sector KARACHI, May 17: Commercial banks extended record Rs366.326 billion loans to the private sector during the first 10 months of the current fiscal year against Rs363.747...		Generation of more revenue directed: Development projects ISLAMABAD, May 17: Budget planners have been directed by the government to identify new sources of revenue and propose ways to tap them to generate funds for new development projects....
Trade deficit poses no problem: SBP chief KARACHI, May 17: State Bank Governor Dr Shamshad Akhtar has said that the expected trade deficit of $9 to 10 billion will not pose problem as the country’s foreign exchange reserves position is comfortable....		Reduction in import duty proposed: Textile machinery ISLAMABAD, May 17: The textile ministry has proposed to the government to reduce customs duty to zero per cent from five per cent on import of machinery and exempt duties on...
KSE 100-share index recovers 387 points KARACHI, May 17: Stocks on Wednesday were back on the rails as investors covered positions at the attractively lower levels in bank, oil and cement shares, pushing the KSE 100-share index higher by 387.45...		Cotton market rules firm on supply fears KARACHI, May 17: Firm trend was witnessed on the cotton market on Wednesday as haunted by fears of pressure on supplies spinners remained active buyers around the prevailing prices....
Investment in oil, gas sector being encouraged KARACHI, May 17: Balochistan Governor Owais Ahmed Ghani said on Wednesday that the government was fully supporting the foreign and local companies that were investing in oil and gas sector of the country....		Domestic consumption on the rise KARACHI, May 17: Imports are likely to reach $28bn in FY06 (more than 22pc of the projected GDP) and export receipts not keeping pace, economists expect the current account deficit to widen to nearly $6bn (equivalent to 4.8pc...
Remittances slow down in April KARACHI, May 17: Remittances from overseas Pakistanis increased by over 5 per cent during the first 10 months of the current financial year but the inflow during April 2006 slowed down to almost at the same level of April 2005....		Oil prices ease as US gasoline stocks rise LONDON, May 17: Oil prices sank by over a dollar on Wednesday as traders absorbed news of buoyant US motor fuel stocks, with just two weeks until the start of the peak-demand American driving season....
Canadian company interested in SNGP ISLAMABAD, May 17: Enbridge Pipeline Company of Canada has shown its keen interest to participate in the privatisation of Sui Northern Gas Pipeline Company (SNGP)....		Surcharge waived ISLAMABAD, May 17: The Central Board of Revenue (CBR) has extended the warehousing period of overstayed goods, lying un-cleared in the warehouses by waiving off the penal surcharge....
EU team shows concern over poor seafood quality ISLAMABAD, May 17: The European Union (EU) inspection team has expressed concern over the poor seafood quality, safety standards and dingy conditions of Pakistani harbour and auction houses more than a...		World moot on capital markets after budget ISLAMABAD, May 17: Adviser to the prime minister on Finance and Economic Affairs Dr Salman Shah said on Wednesday that the ministry of finance was planning to hold an international conference on capital market development....
Kenya tea prices mixed NAIROBI, May 17: Prices of Kenyan tea were mixed at this week’s auction, with most grades pulled down by an increase in supply, brokers said on Wednesday....		Oil deal DAKAR, May 17: The government of the west African state of Mauritania is to sign new oil production sharing contracts with Australia’s Woodside Petroleum next Wednesday, sources close to the negotiations told AFP on Wednesday....
Gold slips below $700 LONDON, May 17: Gold rode the rollercoaster on Wednesday, moving in a wide $30 range on jitters over the dollar, while platinum touched a new all-time high before settling much lower....		Palm oil lower BANGKOK, May 17: Malaysian crude palm oil futures closed mostly down on Wednesday under pressure from a stronger ringgit against the US dollar, dealers said....
European stocks edge higher LONDON, May 17: European shares crept upwards on Wednesday, following recent stock market turbulence, as a rebounding mining sector in London helped offset an overnight dip on Wall Street, dealers said....		Asian stocks steady HONG KONG, May 17: Asian stocks staged a technical rebound on Wednesday, however investors remained wary over the currency and commodity markets amid a backdrop of possible higher interest rates....
Port Qasim KARACHI, May 17: Brisk shipping activity was witnessed at the port where three ships to load/unload containers, edible oil and diesel oil were allotted berths at QICT, MPT and Fotco oil...		Karachi Port operations KARACHI, May 17: Three ships including a vehicle carrier with 1,394 units are expected to arrive at the outer anchorage on Thursday, according to KPT sources....