May 19, 2006	Friday	Rabi-us-Sani 20, 1427

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IMF not happy with rising budget deficit ISLAMABAD, May 18: The International Monetary Fund has expressed concern over widening budget deficit and asked the government to seriously look into the issue failing which Pakistan’s credit rating could be downgraded by international credit rating agencies....		Operators plan mobile number portability KARACHI, May 18: Cellular phone operators have planned to implement mobile number portability (MNP) by the end of this year with the support of the Pakistan Telecommunication Authority (PTA)....
Falling bourses before budget normal course ISLAMABAD, May 18: The ongoing bearish trend in the country’s stock exchanges is a normal phenomenon as speculations always gain momentum in the pre-budget month making buyers and sellers cautious, say market experts....		Pakistan-Turkey ventures in textiles urged ISTANBUL, May 18: Vast opportunities exist for Turkish businessmen to have joint ventures with their Pakistani counterparts in the field of value added textiles and agro based industry to boost exports....
Stocks fall like ninepins on panic-selling KARACHI, May 18: The KSE 100-share index on Thursday again crashed from the overnight highs, off 3.66 per cent or 406 points, followed by renewed panic selling on rumours that the...		Listless trading on cotton market KARACHI, May 18: Trading on the cotton market on Thursday remained relatively dull as spinners and mills adhered to the sidelines apparently making arrangements for the delivery of lint stocks purchased from the TCP in Tuesday’s international auction of 30,000 bales....
SBP sells Rs10.161bn PIBs after two years KARACHI, May 18: The State Bank of Pakistan (SBP) after a gap of two years had resumed selling of Pakistan Investment Bonds (PIBs) while the participation was beyond market expectations....		Cement freight subsidy to stay ISLAMABAD, May 18: Minister for Industries and Production Jahangir Khan Tareen on Thursday said that the government would not withdraw the freight subsidy on cement import until local prices stabilised at Rs285-90 per bag....
Final round of talks on FTA with China in Sept ISLAMABAD, May 18: Pakistan and China will hold the fourth round in September next to finalise the draft text of the Free Trade Agreement (FTA) between the two countries....		German firm to enhance investment ISLAMABAD, May 18: A German company Rohde and Schwarz has shown interest in increasing investment in Pakistan in areas of radio communication, radio monitoring, encryption, test and measurement and broadcasting equipment....
Working group for RTGS KARACHI, May 18: The State Bank has formed a high-level working group of leading banks to take care of technical problems and draw out time lines regarding the implementation of the Real Time Gross Settlement (RTGS) system in the country....		TCP issues tender for sugar KARACHI, May 18: The Trading Corporation of Pakistan (TCP) on Thursday issued a tender to import 50,000 tons of refined sugar, with shipment due in July and bids to be submitted on May 27, a company spokesman said....
Capital gain tax on stocks ruled out ISLAMABAD, May 18: Central Board of Revenue Chairman Abdullah Yousuf said on Thursday that imposition of capital gain tax on stock markets in the forthcoming budget was not under consideration....		World Bank asks BD to raise fuel prices DHAKA, May 18: The World Bank has recently advised the government of Bangladesh to ‘significantly narrow’ the gap in diesel prices with India, as it believes Bangladesh’s petroleum subsidies benefit Indian traders because of wholesale smuggling....
Arcelor investors begin weighing Mittal bid PARIS, May 18: Mittal Steel launched its controversial takeover bid for the European group Arcelor on Thursday, giving Arcelor investors a chance to judge the proposal after a four-month standoff between the companies....		BD to sell 61pc stake in airline DHAKA, May 18: Bangladesh is to sell a 61 per cent stake in state-owned Biman Bangladesh Airlines through an initial public offering and the shares will be listed on the Dhaka and Chittagong stock exchanges, a minister said on Thursday....
Economic indicators WASHINGTON, May 18: The forward-looking index of leading economic indicators fell 0.1 per cent in April, another sign of a cooling trend in the US economy, the Conference Board said Thursday....		Palm oil ends down BANGKOK, May 18: Malaysian crude palm oil futures closed down on Thursday in thin trade as players waited for a clearer market direction, dealers said....
Global stock markets shaken LONDON, May 18: Global stock markets, enduring a grim week, were further shaken on Thursday by news of rising inflation in the United States and the eurozone, sparking concerns about global interest rate increases....		London sugar falls LONDON, May 18: London white sugar futures fell on speculative and possibly producer selling against trade buying at midday on Thursday and risked further falls, and the trade focused on an EU sugar export tender....
Indian rupee MUMBAI, May 18: The Indian rupee ended sharply lower on Thursday, on the back of a fall of nearly 7 per cent in local shares, weak Asian currencies and as stronger-than-expected US inflation data renewed speculation of higher US rates....		Asian stocks nosedive HONG KONG, May 18: Asian stocks were sold of brutally on Thursday after a brief respite as US inflation data rattled Wall Street and raised the spectre of further interest rate hikes by the Federal Reserve....
Port Qasim KARACHI, May 18: Three ships carrying containers and carbon oil were accommodated berths at QICT and MPT during the last 24 hours, said a PQA press release on Thursday....		Karachi Port operations KARACHI, May 18: Three ships carrying steel plates, steel rods and general cargo are due to arrive at the outer anchorage on Friday, according to KPT sources....