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May 31, 2007 Thursday Jamadi-ul-Awwal 14, 1428 Policies blamed for record trade gap ISLAMABAD, May 30: Commerce Minister Humayun Akhtar Khan has blamed the economic policies of the government for highest-ever trade deficit. The economic policies focus on high growth, generating more revenue and... 36 EoIs received for PTDC outlets ISLAMABAD, May 30: The Privatisation Commission (PC) has received expressions of interest (EoI) from 36 investors, consortiums of investors for acquisition of Pakistan Tourism Development Corporation’s 26 motels and restaurants through a competitive bidding process....   Construction activities slow down: Political uncertainty, judicial crisis KARACHI, May 30: The current political uncertainty and judicial crisis, coupled with reports of holding of general elections in October this year, have slowed down construction activities relating to private sector mega housing projects.... Pakistan lured $3.5bn FDI in 2006 WASHINGTON, May 30: The Foreign Direct Investment (FDI) inflows to Pakistan increased from $2.2 billion in 2005 to $3.5 billion in 2006 with much of investment in the oil and gas... Stocks off lows on late buying KARACHI, May 30: The share market on Wednesday turned in a mixed performance as leading investors played on both sides of the fence apparently awaiting budgetary leaks to resume speculative buying on selected counters.... FTA with Malaysia in two months ISLAMABAD, May 30: Commerce Minister Humayun Akhtar Khan said on Wednesday that Malaysia has provided market access in various sectors, including Islamic banking and Takaful (an Islamic mode of insurance), to Pakistani service providers under the free trade agreement (FTA).... Oil prices stable on eve of US energy data LONDON, May 30: World oil prices paused on Wednesday, the eve of an energy report which was forecast to show rising American motor fuel reserves despite the start of the peak-demand US summer driving season.... Growth slows in major economies PARIS, May 30: Economic growth in 30 of the world''s leading industrialised countries slowed to 0.6 per cent in the first quarter of the year from 0.8... EU, US trade officials meet tomorrow BRUSSELS, May 30: Top EU and US trade and farm officials will meet in Brussels on Friday for talks on the WTO trade negotiations, a European Commission spokesman said on Wednesday.... ‘My Karachi’ show opens tomorrow KARACHI, May 30: “My Karachi” exhibition, which will have 36 stalls of Sri Lanka, seven of Indonesia, three of India, two of Bangladesh and one each of France and Germany, will... Planes order PARIS, May 30: European aircraft manufacturer Airbus got a shot in the arm on Wednesday as the Gulf state of Qatar signed a commitment to buy 80 of its A350 aircraft worth $16bn, the largest contract to date for the plane.... Bush proposes Zoellick to head World Bank WASHINGTON, May 30: US President George W. Bush nominated former diplomat and trade chief Robert Zoellick on Wednesday to head the World Bank after a favouritism scandal forced out Paul Wolfowitz.... Active buying on cotton market KARACHI, May 30: Forward deals in new crop Sindh variety highlighted the trading on the cotton market on Wednesday as spinners resumed their normal covering operations.... Karachi Port operations KARACHI, May 30: Nine ships carrying containers, chemicals, DAP fertiliser and to load molasses are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Port Qasim KARACHI, May 30: Berthing was brisk as four ships to load/offload containers, edible oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Wednesday.... Islamic common market KARACHI, May 30: Tariq Sayeed, former president FPCCI and member international advisory panel of World Islamic Economic Forum (WIEF) has said that the ideal of Islamic Common Market should be approached in stages, says a press release.... Japan’s output dips TOKYO, May 30: Japan''s industrial output dipped unexpectedly for a second straight month in April as demand for automobiles cooled both at home and in the United States, a key market, the government said on Wednesday.... Palm oil prices KUALA LUMPUR, May 30: Malaysian crude palm futures closed 1.5 per cent lower on Wednesday as players booked profit a day after the market hit record highs and prices of rival soybean oil tumbled.... Asian stocks lower HONG KONG, May 30: Asian stocks closed lower on Wednesday after a 6.48 per cent tumble in Shanghai where the government moved to cool overheating markets by tripling the tax on share transactions.... British Energy LONDON, May 30: Britain said on Wednesday it planned to sell 25pc stakes in British Energy as the nuclear power firm posted a 44pc rise in underlying profit and announced its first dividend since a state bail-out.... Dollar gains LONDON, May 30: The dollar crept up on the euro on Wednesday despite the release of an estimate of US job creation that was weaker than expected.... European stocks slip LONDON, May 30: European stock exchanges retreated on Wednesday in the aftermath of sharp falls on the Shanghai market but losses were limited by a muted opening on Wall Street.... Karachi market rates KARACHI, May 30: The following were Wednesday’s commodity market rates in rupees.... Company news KARACHI: Kashf Foundation has signed a Rs484 million ($8 million) commercial loan facility with a consortium of local commercial banks. It is a three-year facility in which Grameen Foundation provides partial...

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