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October 31, 2001 Wednesday Shaba’an 13, 1422 Remittances increase to $366m in 1st quarter KARACHI, Oct 30: Home remittances or the foreign exchange sent back home by overseas Pakistanis rose to $366 million in July- September this year from $340 million a year-ago.... Rice exports worth $400m in doldrums: Volatile exchange rates KARACHI, Oct 30: Export of new crop rice having an estimated value between $350 to $400 million in the world market is in doldrums as exporters are reluctant to enter into... Govt may further revise tax target ISLAMABAD, Oct 30: The government is considering further revising the tax collection target of Rs443.7 billion projected for the current financial year, 2001-02.... Moody’s upgrades Pakistan ratings KARACHI, Oct 30: Moody’s Investors Services — the international rating agency — raised Pakistan’s country ceiling for foreign currency bank deposits, one notch from ‘Ca’ to ‘Caa1’.... Chinese co asked to expedite feasibility: Thar coal project ISLAMABAD, Oct 30: Pakistan on Tuesday asked a Chinese company to carry out, as soon as possible, the feasibility study of Thar coal project so that the mega project could be... HBL registers 30pc growth in September: Remittances KARACHI, Oct 30: Habib Bank Limited, which handled around 40 per cent of Pakistan’s $1 billion workers remittances last year, registered a growth by 30 per cent in remittances in September... Profit-selling forces index down by 12.96 points KARACHI, Oct 30: Stocks on Tuesday took a long overdue technical pause, as a section of leading investors indulged in profit-selling at the inflated levels amid an actively traded session. The... ‘Japan’s govt sees recession for next two years’ TOKYO, Oct 30: Japan’s government shares a bleak forecast given earlier by the central bank that the world’s number two economy will wallow in recession for the next two years, a... Malaysia tipped as leader in growing Islamic banking KUALA LUMPUR, Oct 30: Malaysia is tipped as a leader in the race to tap the vast funds held by Muslims worldwide as interest in Islamic banking grows, economists said on... Dollar weakens against yen TOKYO, Oct 30: The dollar weakened against major currencies in Tokyo Tuesday following falls in US stocks and looming grim data that could show the world’s biggest economy is headed for... BASF to sign plan for $1bn deal in China BEIJING, Oct 30: Germany’s BASF AG will sign an agreement on Wednesday to submit to the Chinese government a feasibility study for a $1 billion joint venture to build and operate... India looking to push ahead with privatizations HONG KONG, Oct 30: India will push ahead with the privatisation of 49 state firms over the next 12-18 months despite the global economic downturn, a member of the country’s Planning... New York cotton mostly firmer NEW YORK, Oct 30: NY cotton futures were mostly firmer at the close Monday due to light speculative shortcovering and option buying as the market consolidated after sinking last week to... Honda interim net profit surge TOKYO, Oct 30: Japan’s Honda Motor Co. said on Tuesday interim net profit surged 42.5 per cent to $1.45 billion from the same time last year due to strong sales, a... Medium term outlook for the economy: COMMENT KARACHI, Oct 30: For the past two years, the State Bank annual reports have tended to be more objective and have provided detailed information required by an emerging market.... Active trading on cotton market KARACHI, Oct 30: Active trading was witnessed on the cotton market on Tuesday as the pent-up mill demand lifted all the lots offered by the ginners below the highest rate of... US warns Opec against output cut WASHINGTON, Oct 30: The US Energy Secretary Spencer Abraham on Tuesday again cautioned against changes in Opec oil production that would hurt the world economy.... Govt wants Documentation of economy LAHORE, Oct 30: The government is more interested in documenting the economy of the country than generating revenue because this exercise will yield more revenue in future.... War premium on cargoes to cost Rs10bn KARACHI, Oct 30: The war risk surcharge imposed on Pakistani cargoes will cost an additional freight of more than Rs10 billion annually to the national exchequer, shipping sources said here on... US stocks slump NEW YORK, Oct 30: Stocks were rooted in negative ground at midday on Tuesday as consumer confidence in October tumbled to its worst level in more than seven years after the...

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