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October 27, 2001 Saturday Shaba'an 9, 1422 US customs levying additional charges: Anthrax inspection KARACHI, Oct 26: US customs is levying additional charges on account of expenses incurred on detailed inspection of consignments originating from Pakistan.... Karachi ports to be upgraded, says Javed KARACHI, Oct 26: Federal Communications Minister Javed Ashraf Qazi on Friday said the Karachi ports will be upgraded and modernized to handle all sort of containers and cargo with added facilities... Opec faces key meetings in fight to stop decline PARIS, Oct 26: Opec faces two key dates in the next two weeks in its fight to stop the present slide in oil prices, amid warnings that if it does not... KIBOR falls after cut in discount rate KARACHI, Oct 26: Banks may reduce their lending rates for the customers in phases after the two per cent cut in the State Bank discount rate last week. But they had... Stocks breach 1,400-point barrier again KARACHI, Oct 26: Stocks were back on the rails on Friday as massive buying in pivotals drove bears out of the market, allowing the KSE 100-share index to breach through the... UK economy defies world slowdown LONDON, Oct 26: Britain’s economy is set to be the best performer amongst the world’s richest nations this year, following news on Friday that it grew by a much faster than... PICIC allocates Rs6bn for 2002 KARACHI, Oct 26: Pakistan Industrial Credit and Investment Corporation (PICIC) has allocated Rs6 billion to fund long-term projects, working capital needs and lease financing of industry for the year 2002.... Further cut in oil prices likely KARACHI, Oct 26: Weakening of the dollar and stable global crude rates may trigger further cuts in prices of various petroleum products in fortnightly adjustments on October 31.... French clothing makers against EU concessions PARIS, Oct 25: The French textile and clothing industries are opposed to any “unilateral concession” from the European Union (EU) in favour of developing countries at the meeting of World Trade... WTO must respond to citizens concerns: EU assembly STRASBOURG, Oct 26: The European Parliament backed a new round of global trade liberalization talks on Thursday but said governments must respond to citizens’ concerns over the world trade system.... OECD chief sees global recovery in mid-2002 WARSAW, Oct 26: Global economic growth is likely to bounce back by mid-2002 after the September 11, attacks pushed the United States into the arms of recession and slashed demand in... Tokyo to give financial aid to airlines TOKYO, Oct 26: Japan’s government and ruling parties have worked out a rescue package for airlines and travel agencies, both hard-hit by a sharp drop in tourism following the September 11,... Asian stock markets mostly higher TOKYO, Oct 26: Asian stocks were mostly higher on Friday, bolstered by gains on Wall Street despite a slight fall on the region’s largest market in Tokyo.... New York cotton futures lower NEW YORK, Oct 26: NY cotton futures closed on Thursday near a 30-year low, as option and fund sales deflated a fiber complex buckling from the weight of exceedingly bearish fundamentals.... Dollar rises against yen TOKYO, Oct 26: The dollar rose against the yen on Friday following an overnight rally on Wall Street while grim economic data from Japan scuppered yen-buying sentiment, traders said.... COMEX gold prices higher NEW YORK, Oct 26: Gold prices climbed at the New York Mercantile Exchange Thursday on currency-related buying and short covering as a weaker US dollar lifted the safe-haven metal, traders and... Riyadh gas output to double by 2010 RIYADH, Oct 26: Saudi Arabia’s gas production is expected to double to 10 billion cubic feet per day by the year 2010.... SECP inspector to probe affairs of Sunshine Mills ISLAMABAD, Oct 26: The Securities and Exchange Commission of Pakistan (SECP) has appointed an inspector to look into the financial affairs of Sunshine Cotton Mills Limited of Sheikhupura, a listed public... Cotton market eases further KARACHI, Oct 26: Cotton market on Friday eased further as spinners and mills adhered to the sidelines anticipating apparently further decline in prices and did not bid even at the lower... BD frozen food industry in crisis DHAKA, Oct 26: Bangladesh frozen food industry is in crisis as economic slowdown in the West has sliced the price by half, industry sources say....

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