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October 25, 2001 Thursday Shaba'an 7, 1422 ADB hints at providing guarantee: Insurance risk cover ISLAMABAD, Oct 24: The Asian Development Bank (ADB) has indicated to provide major guarantees to Pakistan for pooling insurance risk cover through local and international financial institutions and insurance companies.... SECP unveils proposed amendments: Companies Ordinance ISLAMABAD, Oct 24: The Securities and Exchange Commission of Pakistan (SECP) on Wednesday proposed amendments in the Companies Ordinance 1984 to ensure further transparency and good governance in the interest of... Refinance at 10pc by Dec, says Ishrat LAHORE, Oct 24: The State Bank Governor Dr Ishrat Hussain has said the rate of export refinance will be cut down to 10 per cent from the existing 12 per cent... Orders for fish, shrimps drop KARACHI, Oct 24: Traditional western buyers of shrimps and fish from Pakistan are switching over to cheaper imports from other countries, and purchase orders have plummeted by 30 to 40 per... Renewed buying pushes index up by 40.71 points KARACHI, Oct 24: Stocks on Wednesday maintained a bullish outlook as massive renewed buying in the pivotals under the lead of the PTCL pushed the KSE 100-share index to breach through... SBP to cut PIBs coupon rates in Nov KARACHI, Oct 24: The State Bank would cut the coupon rates of long term Pakistan Investment Bonds in November when three-year and five-year bonds would be up for sale.... Stage set for foreign exchange cos KARACHI, Oct 24: The difference between the interbank and open market exchange rates is down to 20-25 paisa per US dollar. This may make it easier for the State Bank to... US sees severe insurance problem WASHINGTON, Oct 24: The US faces a short-lived but severe problem in providing affordable terrorism risk insurance in the wake of the Sept. 11, attacks, Treasury Secretary Paul O’Neill warned on... Use global trade talks to create a better world: Havel PARIS, Oct 24: The upcoming World Trade Organization (WTO) meeting in Qatar should be used to ensure globalisation does not mean more prosperity for some and greater poverty for others, Czech... UK tourist industry calls for more govt aid LONDON, Oct 24: The UK tourist industry urged the government do to more to help its plight on Wednesday, as the British Tourist Authority (BTA) confirmed it was funding a new... Chinese planners say trade surplus may be erased BEIJING, Oct 24: Chinese state planners have warned the country’s trade surplus could be erased next year as exports are hit by a slowing global economy, state media said on Wednesday.... Dollar maintains above 122 yen level in Tokyo TOKYO, Oct 24: The dollar held onto the mid-122 yen level in Tokyo on Wednesday, while lingering weakness in the euro has focused attention on a possible rate cut by the... Asian stocks mostly higher TOKYO, Oct 24: Most Asian shares were higher on Wednesday despite small declines in Tokyo and New York.... Malaysian palm oil ends lower KUALA LUMPUR, Oct 24: Malaysian palm oil futures surrendered earlier gains to finish in negative territory on Wednesday as players booked profit ahead of the release of export data for the... New York cotton futures fall NEW YORK, Oct 24: NY cotton futures finished on Tuesday at another 15-year low due to local pressure and spread activity, although key December did not fall below the 1986 trough... Cotton market upward drive halts KARACHI, Oct 24: Cotton market on Wednesday eased after witnessing firm start as higher crop projections by the official estimate committee triggered selling from some weak ginners.... SME Bank lending operation from Jan ISLAMABAD, Oct 24: Newly-established SME Commercial Bank in the public sector will start lending operations exclusively for small and medium enterprises from January next.... MOST evolves mechanism to monitor projects ISLAMABAD, Oct 24: Ministry of Science & Technology has set up a mechanism to monitor the execution of all projects funded by it to ensure their implementation in letter and spirit.... Oil price hits new two-year low LONDON, Oct 24: Oil prices opened at their lowest level for more than two years Wednesday, as sentiment was weighed down by plentiful reserves and disagreement among producers about how to... $300m WB loan for banking sector ISLAMABAD, Oct 24: The World Bank has approved a $300-million credit for Banking Sector Restructuring and Privatization Project to assist the ongoing banking reform programme....

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