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November 7, 2001 Wednesday Shaba’an 20, 1422 European, US buyers Cancelling orders KARACHI, Nov 6: The Special Cell in the Export Promotion Bureau has so far received reports of cancellation of 14 million dollars worth of supply orders from 29 exporters. The US... State Bank cuts yield on PIBs KARACHI, Nov 6: The State Bank on Tuesday cut the fixed coupon rates on long-term Pakistan Investment Bonds in a followup of the 2 per cent cut in its discount rate... Leather garment exporters sitting idle KARACHI, Nov 6: Leather garment exporters, who are normally busy at this time of the year with their foreign buyers in finalizing designs for next season, are sitting idle as foreign... Software industry in crisis KARACHI, Nov 6: Pakistani software industry is heading for a collapse in the absence of new orders from foreign buyers, resulting into massive layoffs of engineers and developers.... First quarter Import receipts fall by 16pc ISLAMABAD, Nov 6: Despite an over all increase in the total value of imports during the first four months of the current financial year, the import receipts declined by over 16... Assets of Bela Engineers up for sale KARACHI, Nov 6: Bela Engineers Limited — the company once in the business of manufacture and sale of Bedford brand of diesel engines for trucks and tractors, is up for sale:... KSE-100 index down by another 20 points KARACHI, Nov 6: Stocks on Tuesday finished with an extended fall as technical correction engulfed all the sectors in the absence of strong support from any quarter including the financial institutions.... EU to play ‘hard but fair’ at WTO talks: Fischler BRUSSELS, Nov 6: Europe’s Farm Commissioner Franz Fischler said on Tuesday the European Union would take a fair but tough line on agricultural issues at the World Trade Organization talks in... ‘WTO must strike balance between free trade, rules’ BRUSSELS, Nov 6: A balance must be struck between free trade and rules if a round of global trade talks is launched at the WTO, EU Trade Commissioner Pascal Lamy told... ASEAN, China agree to set up world’s largest free trade zone BANDAR SERI BEGAWAN, Nov 6: Chinese Premier Zhu Rongji and Southeast Asian leaders agreed on Tuesday to set up the world’s largest free trade zone in a significant decision that capped... Yen slips against major currencies TOKYO, Nov 6: The dollar slipped against major currencies in nervous trade ahead of key meetings by US and European central banks, where policy makers are expected to slash rates, dealers... US Fed, facing dismal economy NEW YORK, Nov 6: When the US Federal Reserve meets on Tuesday, central bankers will have enough evidence of the devastating economic impact of the Sept. 11, attacks to warrant another... New York cotton finishes higher NEW YORK, Nov 6: NY cotton futures settled modestly higher on Monday due to mainly local buying as operators began adjusting their positions ahead of the release of the monthly USDA... COMEX gold prices lower NEW YORK, Nov 6: A rallying dollar promoted liquidation of COMEX gold futures on Monday, even as financial markets predicted another dose of Federal Reserve interest rate stimulus on Tuesday.... Misuse of ATT continues unchecked PESHAWAR, Nov 6: Successive governments’ efforts to control the misuse of Afghan Transit Trade (ATT) by imposing restrictions apparently remained ineffective as neither the size of the trade got reduced nor... Bullish trend on cotton market KARACHI, Nov 6: Cotton market on Tuesday showed a bullish trend as spinners continued to indulge in panic buying followed by reports of an extensive damage to the standing crop and... Customs duty, ST collection up in NWFP PESHAWAR, Nov 6: The Central Board of Revenue recorded revenue improvement by Rs276 million under the heads of customs duty and sales tax (imports) from NWFP during the first four months... Pakistan copper mine listing on AIM delayed SYDNEY, Nov 6: Plans to list Pakistan’s only copper mine project on the Alternative Investment Market (AIM) this year are on hold until fighting ends in neighbouring Afghanistan, Mincor Resources NL... CBR told to implement order: Dues refund ISLAMABAD, Nov 6: Federal Tax Ombudsman (FTO) Justice (Retd) Saleem Akhtar has directed the Central Board of Revenue (CBR) to implement the order of the law secretary by November 16, of... Saudi Arabia to seek private investment RIYADH, Nov 6: Saudi Arabia intends to lure more private and foreign investment into its huge energy sector by creating a holding company for the energy services and support industry, Saudi...

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