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October 26, 2001 Friday Shaba'an 8, 1422 SBP buys $400m from kerb in July-Sept: Reserves rise to $3.4bn KARACHI, Oct 25: The State Bank purchased about $400 million from the open currency market between July-September to build its foreign exchange reserves.... Govt to invoke sovereign guarantee: War risk premium KARACHI, Oct 25: Minister for Communications Lt-Gen (R) Javed Ashraf Qazi on Thursday said the government would invoke the sovereign guarantee to save the interests of the importers and exporters.... UN aid agencies quote higher prices for wheat: All bids may be rejected KARACHI, Oct 25: Pakistan may reject all bids for wheat export in the face of expectations of high demand in coming months for emergency food supplies for Afghan refugees, government officials... Body to prepare new tariff structure KARACHI, Oct 25: A broad-based committee is being constituted to prepare the outlines for new investment-friendly tariff structure.... KSE 100-share index down by 37.52 points KARACHI, Oct 25: Stocks on Thursday took a technical pause as leading shares beat a hasty retreat from the recent highs as the highly overbought market needed a technical correction. The... Opec investment ISLAMABAD, Oct 25: Director General Organization of Petroleum Exporting Countries (Opec) has appreciated the reforms agenda initiated by Pakistan for the revival of the economy and offered to provide finances to... Engro earns Rs419m net profit KARACHI, Oct 25: Engro Chemical Pakistan Limited announced on Thursday, the third quarter net profit at Rs419 million, showing 18 per cent growth over Rs356 million earned during same period a... ‘Terrorism could reverse gains from globalization’ WASHINGTON, Oct 25: The threat of terrorism could reverse the gains from globalization, especially if it hampers freedom of movement across borders, according to Federal Reserve board chairman Alan Greenspan.... Legislation back-log could put off China’s WTO entry BEIJING, Oct 25: Chinese legislators, bureaucrats and lawyers are working overtime to amend and pass trade laws in a frantic attempt to get China ready to join the World Trade Organization... Fed, fiscal stimulus to keep US recession brief NEW YORK, Oct 25: Dented by the Sept. 11, attacks just when it was struggling to regain its footing, the mammoth US economy will slump into a brief recession before bouncing... Dollar firms against yen TOKYO, Oct 25: The dollar continued a steady advance against the yen on Thursday on prospects of a rebound in the US economy and fears of a further intervention by the... Trade round appears within reach: EU BRUSSELS, Oct 25: The European Union’s top trade negotiators said on Wednesday their long-nurtured ambition of launching a new round of global trade liberalization talks appeared finally within reach.... Sony posts $360m interim net loss TOKYO, Oct 25: Japan’s Sony Corp. said on Thursday it suffered a first half net loss of $360.8 million, battered by problems with its mobile phone business and the global technology... Asian share markets close mixed TOKYO, Oct 25: Asian share markets were mixed on Thursday, with modest gains on some major bourses capped by concerns over earnings by leading firms.... NY cotton crumbles to finish near 30-year lows NEW YORK, Oct 25: NY cotton futures reeled from speculative and local sales to end near a 30-year trough on Wednesday as the weight of abundant supplies, soft demand and a... Potential risks for the economy KARACHI, Oct 25: Pakistan’s emergence as a front line state against the Taliban has inducted potential risks for the economy, and the country finds itself once again at the crossroads.... Recruitment policy for CBR proposed ISLAMABAD, Oct 25: The International Monetary Fund (IMF) has recommended to the government new recruitment policy for the Central Board of Revenue (CBR) as a part of the re-structuring the tax... London insurers, traders meeting cancelled KARACHI, Oct 25: A meeting between a three-member delegation of War Risk Insurance Committee, London, and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) could not be held on... Cotton market lacks lustre KARACHI, Oct 25: Trading activity on the cotton market on Thursday remained relatively slow as spinners took another breather in a bid to push prices further lower.... SPI slightly up KARACHI, Oct 25: The Sensitive Price Indicator for income group up to Rs3,000 has registered a slight increase during the week ended Oct 18 over the previous week....

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