May 20, 2006	Saturday	Rabi-us-Sani 21, 1427

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Govt biggest beneficiary of PTCL dividend KARACHI, May 19: Pakistan Telecommunication Company Limited (PTCL) declared an interim cash dividend at Rs3 (30 per cent) per share for the year ending June 30, 2006, the biggest beneficiary of which would be the government itself....		New measures to enhance revenue from income tax ISLAMABAD, May 19: The budget planners have proposed new measures to collect sizable additional funds through income tax in 2006-07 instead of expanding general sales tax (GST) to new items, which...
Meeting to review demand-supply situation today: Essential items KARACHI, May 19: A meeting to assess the prevailing demand and supply situation of essential commodities, including cement, sugar and pulses, is to be held on Saturday in Islamabad....		China proposes joint investment, trading firms KARACHI, May 19: While proposing increase in exchange of trade delegations, the visiting Chinese delegation has showed interest in forming joint trade and investment companies to further strengthen trade ties....
KSE 100-index recovers 173.43 points KARACHI, May 19: Share values on the Karachi Stock Exchange on Friday staged a partial recovery but analysts predict it could well prove a takeoff point for their upward thrust to their pre-reaction levels by the next trading week....		Cotton prices ease further on slow trading KARACHI, May 19: Cotton prices on Friday eased further as spinners and mills kept to the sidelines partly owing to a short Friday session and partly to spot delivery problems....
German help in auto sector study sought ISLAMABAD, May 19: Pakistan has good industrial potentials for penetrating into the international market and should make research studies to pinpoint better quality and cheap products for making inroads....		Oil prices fall on weaker demand LONDON, May 19: Oil prices fell strongly on Friday at the end of a week in which crude futures have been weighed down by weaker demand for energy and healthy stockpiles of US motor fuel....
Rate of WT on imports, supplies may be cut ISLAMABAD, May 19: The government is considering two proposals to reduce the rate of withholding tax on imports and supplies in the next budget....		Industrial revolution in Punjab SIALKOT, May 19: Provincial Industries and Investment Minister Muhammad Ajmal Cheema has said that efforts were being made for bringing industrial revolution in the province....
Envoys’ moot to discuss market access ISLAMABAD, May 19: The ministry of commerce will hold a two-day regional envoy conference in Singapore to promote commercial relations, especially in the East Asian region....		Mittal Steel improves bid for Arcelor LONDON, May 19: Mittal Steel is showing “absolute determination” to win control of Arcelor by raising its offer price to 25.8 billion euros, the head of Mittal Steel, Lakshmi Mittal, said here on Friday....
Gas supply to Gujjo KARAHCI, May 19: Chairman standing committee on Defence Affairs Senator Nisar Memon inaugurated the SSGC’s gas supply to the town of Gujjo near Thatta....		S. Arabian net foreign assets grew 43pc in ’05 RIYADH, May 19: Riding on high oil prices in the global markets, the Saudi net foreign assets have increased by 42.9 per cent to reach SR752.8 billion (US $200.75bn)....
Dollar rallies against rivals LONDON, May 19: The dollar rallied on Friday against the euro and yen as the market focused on the prospect of further increases in US interest rates, dealers said....		Poland, India to boost trade WARSAW, May 19: Poland and India signed a cooperation agreement on Friday aimed at boosting trade and investment between the two countries, officials said....
USTR seeks extension in trade deal rights CHICAGO, May 19: US Trade Representative Rob Portman on Friday issued a vehement appeal to Congress to extend the administration’s right to “fast-track” negotiating authority over trade deals....		24m cotton bales crop forecast for India WASHINGTON, May 19: Indian cotton production in 2006-07 is forecast to rise to 24 million bales (170-kg per bale) due to higher plantings that would make it the second largest crop...
France set for higher growth PARIS, May 19: The French economy is set for growth of 2.0-2.5 per cent this year and privatisations will cut national debt quicker than planned, Finance Minister Thierry Breton said Friday, bringing bright news for the beleaguered government....		AfDB meeting OUAGUADOUGOU, May 19: China will host the next annual assembly of the African Development Bank (AfDB), the bank’s governors have decided....
Gold prices higher LONDON, May 19: Gold prices pared overnight gains in European trade as they tracked trends in the dollar, but the buyers that took the market to recent 26-year highs should soon return, dealers said....		Palm oil lower BANGKOK, May 19: Malaysian crude palm oil futures ended down on Friday in step with rival US soyaoil as the prospects of weaker exports in the first 20 days of May weighed on prices, dealers said....
European stock markets firm LONDON, May 19: European stock exchanges in Britain, France and Germany nudged higher on Friday, following heavy losses this week, and after Wall Street sank overnight on persistent inflation worries....		Asian stocks close mixed HONG KONG, May 19: Asian stocks closed mixed in volatile trade on Friday amid persistent fears over further US interest rates hikes to combat inflation, which could force regional central banks to follow suit....
Port Qasim KARACHI, May 19: Brisk shipping activity was observed at the port where four ships to load/unload containers, diesel oil and chemicals were accommodated on berths at QICT, Fotco oil terminal and...		Karachi Port operations KARACHI, May 19: Six ships, including Pacific Sun-2 carrying 18,000 tons of sugar, are due to arrive at the outer anchorage on Saturday, according to KPT sources....