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| November 8, 2001 | Thursday | Shaba’an 21, 1422 |
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Musharraf to take up duty issue with Bush
ISLAMABAD, Nov 7: Pakistan is seeking suspension of all duties on Pakistani products by the United States for three years, withdrawal of quotas and resolution of a number of miscellaneous disputes... 
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Investment in oil exploration sought
ISLAMABAD, Nov 7: The government is making concerted efforts to promote investment in oil exploration and production by offering safe and secure environment for investors to earn reasonable returns....
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SBP exchange loss at Rs49bn: Net profit down to Rs15.6bn
KARACHI, Nov 7: The State Bank suffered Rs49 billion exchange loss in fiscal year (July/June) 2000-01 mainly due to an 18.6 per cent depreciation in the rupee value....
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30,000 travel agencies, hotel workers laid off
KARACHI, Nov 7: More than 30,000 regular and daily wages employees in the travel agencies and top hotels in all parts of the country have been laid off since the on-set...
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Pak Suzuki Motor Company: CORPORATE PROFILE
KARACHI, Nov 7: On Wednesday, Pak Suzuki Motor Company Limited announced the financial figures for the year ended June 30, 2001, posting a huge after tax profit of Rs87 million, replacing...
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EU may withdraw dumping duty on bedlinen
KARACHI, Nov 7: The European Commission (EC) has proposed withdrawal of anti-dumping duty imposed about four years ago on bedlinen imports from Pakistan....
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PTCL leads recovery on stock market
KARACHI, Nov 7: After having passed through a technical correction during the last two sessions, stocks were back on the rails as institutional traders and general investors resumed their covering operations...
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Fed cuts rate to 40-year low
LOS ANGELES, Nov 7: The Federal Reserve on Tuesday cut interest rates by half a percentage point to their lowest level since 1961, and citing the deteriorating overseas economy, suggested more...
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ASEAN unity against foreign ‘hijacking’ of markets urged
KUALA LUMPUR, Nov 7: Malaysian Prime Minister Mahathir Mohamad urged ASEAN nations on Wednesday to stay united against foreign “hijacking” of their industries and markets through globalization....
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‘Monetary policy cannot smooth out economic bumps’
FRANKFURT, Nov 7: Monetary and fiscal policy makers cannot smooth out the peaks and troughs of economic cycles, Bundesbank President Ernst Welteke said on Wednesday, on the eve of a key...
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Japan govt okays $25bn extra budget
TOKYO, Nov 7: Japan’s government on Wednesday approved a draft $25 billion extra budget aimed at fighting record high unemployment and speeding up a painful reform plan as its economy falters....
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Dollar eases against yen
TOKYO, Nov 7: The dollar fell against the yen on Wednesday as a recent trend of dollar consolidation ran its course, despite a 50-basis point rate cut by the United States...
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New York cotton closes higher
NEW YORK, Nov 7: NY cotton futures ended marginally higher Tuesday on brisk all-around buying, although dealings were confined to a tight trading band in the market....
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Oil stuck below $19 a barrel
LONDON, Nov 7: Oil prices were stuck below $19 a barrel here on Wednesday, flirting with two year low points, as figures for US inventories confirmed that supply continues to outstrip...
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Sugar settles near 7-week high
NEW YORK, Nov 7: CSCE sugar futures finished on Tuesday near a seven-week high on all-around buying into stops, with the market poised for a further advance after piercing overhead resistance....
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IMF supports single exchange rate move: COMMENT
KARACHI, Nov 7: The IMF has responded positively to government’s move towards one exchange rate, a task made less difficult by the virtual disappearance of the margins between inter-bank and kerb...
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Spinners, millers pick 0.1m bales
KARACHI, Nov 7: A record business of about 0.100m bales was transacted on the cotton market on Wednesday as haunted by reports of a short crop, spinners and mills tried to...
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NBP to finalize textile sector credit in 15 days
KARACHI, Nov 7: President National Bank of Pakistan (NBP) S Ali Reza has asked its executives to finalize credit requests of textile sector within 15 days of receipt....
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CBR promotes 40 officers
ISLAMABAD, Nov 7: The Central Board of Revenue (CBR) has promoted 40 senior most inspectors/ministerial staff to the rank of deputy superintendent in customs, sales tax and central excise department with...
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Export finance at zero mark-up demanded
KARACHI, Nov 7: The leather garment exporters have asked the government to provide export finance at zero mark-up for at least second quarter of current fiscal to arrest rapidly declining exports...
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