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October 24, 2001 Wednesday Shaba'an 6, 1422 Cash holding rises in Sept: Govt borrowing down KARACHI, Oct 23: Currency in circulation showed a big rise of Rs9 billion in September mainly due to heavy withdrawals from rupee deposits after the September 11 terrorist attacks on New... Exporters advised to get export finance in $ KARACHI, Oct 23: Governor State Bank Dr Ishrat Husain on Tuesday advised the exporters to get their export finance in US dollar, available at a mark-up of 5.5 per cent, instead... Early merger of NDFC with NBP likely KARACHI, Oct 23: A senior executive of the state-run National Development Finance Corporation said on Tuesday that the NDFC could be merged with NBP much earlier than scheduled.... $250m capital market loan in six months ISLAMABAD, Oct 23: Pakistan is expecting very shortly around $250 million from the Asian Development Bank (ADB) under the “capacity building for capital market and corporate governance programme.”... Overnight run-up slows down on KSE KARACHI, Oct 23: The overnight run-up on the stock market on Tuesday slightly slowed down as investors took stock of their inventories before making fresh commitments but the underlying sentiment remained... Official, kerb gap shrinks to 20 paisa KARACHI, Oct 23: The rupee gained further strength both in the inter-bank as well as open currency market as the dollar selling spree intensified on press reports, indicating sufficient inflows in... Merrill Lynch details voluntary severance packages NEW YORK, Oct 23: Merrill Lynch & Co. Inc. which is trying to cut costs as its profits slump, on Monday sent a memo to employees detailing severance packages for those... World to press ahead with new round of trade talks: Supachai HONG KONG, Oct 23: The next chief of the World Trade Organization (WTO) on Tuesday urged the world to press ahead with a new round of trade talks despite concerns over... Gulf Arabs brace for tighter budgets RIYADH, Oct 23: Gulf Arab states, which depend on oil for most of their revenues, should brace for tighter budgets to face the double effect of weaker oil prices and lower... Saudi, Iran, Libya, Algeria back Opec oil cut: Chavez CARACAS, Oct 23: Saudi Arabia, Iran, Libya and Algeria have backed a Venezuelan proposal to cut Opec oil production if necessary, Venezuelan President Hugo Chavez said in a taped message broadcast... Gold breaches $275 barrier LONDON, Oct 23: Gold bullion prices struggled on Tuesday in Europe, falling below $275.00 an ounce as the market traded in quiet conditions coming under pressure from a strong dollar and... Major Asian stock markets close higher TOKYO, Oct 23: All major Asian sharemarkets made good gains on Tuesday after a solid performance on Wall Street, but investors remained wary ahead of a slew of upcoming company profit... Dollar stronger against yen, euro TOKYO, Oct 23: The dollar was stronger against the yen and euro in Tokyo on Tuesday as market players gave the thumbs up to quick United States fiscal and monetary action... Malaysian palm oil prices up KUALA LUMPUR, Oct 23: Malaysian palm oil futures surged on Tuesday on news that the government planned to subsidise insurance costs for oil shipments to Pakistan and the Gulf as premiums... Textile mills expedite cotton purchase KARACHI, Oct 23: Textile mills have expedited cotton purchase following the recent increase of 15 per cent in textile quota and relief in tariff by the European Union.... Cotton prices maintain upward trend KARACHI, Oct 23: Cotton prices on Tuesday rose further as spinners were not inclined to give free hand to the Trading Corporation of Pakistan to lift bulk of the premium lots... NIT plans to restructure portfolio KARACHI, Oct 23: The National Investment Trust is working on re-construction of its portfolio to ensure better income levels of the unit holders and be in a position to declare good... AIMR sets up fund for Sept 11 victims CHARLOTTESVILLE, Oct 23: The Association for Investment Management and Research (AIMR), which lost at least 56 of its members and Chartered Financial Analyst (CFA) candidates in the terrorist attacks of September... Japan banks have enough capital TOKYO, Oct 23: Japan’s top banks have enough capital as of now and do not need fresh public funds, Yoshio Yamamoto, the head of the Japanese Bankers’ Association, said on Tuesday.... IMF opposed to high raise in taxmen salary ISLAMABAD, Oct 23: The International Monetary Fund (IMF) has rejected the federal government’s move to give exorbitant raise in the salary structure of the tax administration, reliable sources told Dawn here...

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