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November 21, 2001 Wednesday Ramazan 5, 1422 ADB hints at $250m war risk levy cover: Team due next week ISLAMABAD, Nov 20: A high-level mission of the Asian Development Bank will be arriving here next week to help reduce war risk insurance burden on Pakistani exports.... Reserves rise to $4.217 billion: $600m US grant received KARACHI, Nov 20: Pakistan has received $600 million US grant as part of a $1 billion package that Washington had pledged for Islamabad last week.... Home remittances rise to $450m in four months KARACHI, Nov 20: Home remittances or the foreign exchange sent back home by overseas Pakistanis rose to about $450 million in the first four months of this fiscal year from $311... Banks to finance wheat buying at 12 per cent KARACHI, Nov 20: Banks will provide credit to flour millers for procurement of wheat at 12 per cent mark-up under commodity operations.... Heavy selling brings index down by 26.27 points KARACHI, Nov 20: Stocks on Tuesday failed to sustain the last couple of sessions’ firmness as heavy selling in most of the leading shares ekoved sympathetic liquidation from the jobbers and... Plan to attract expats investment ISLAMABAD, Nov 20: The Board of Investment (BOI) has initiated various steps to attract private sector’s investment and generate economic activity.... China to extend financial support BEIJING, Nov 20: China on Tuesday agreed to extend financial and technical support to Pakistan for development of garment and leather industry.... Lenders okay Hubco dividend KARACHI, Nov 20: The Hub Power Company Limited (Hubco) informed the stock exchange on Tuesday that the lenders had approved company’s request for payment of final dividend.... LSE to have 50pc outside directors LAHORE, Nov 20: The members of Lahore Stock Exchange would stamp their approval on the proposed amendments in their Articles of Association here on Saturday, increasing the percentage of the outside... Al-Meezan Bank calls EGM on Dec 11 KARACHI, Nov 20: Al-Meezan Investment Bank Limited has called an Extraordinary General Meeting of the shareholders on December 11 to seek approval for the change in name of the bank to... Recession-hit US economy may recover in mid 2002: OECD PARIS, Nov 20: The US economy is probably in recession and will contract further in the first half of 2002 before picking up less than a year after terrorist attacks slammed... LSE goes all out to woo Indian Cos MUMBAI, Nov 20: The London Stock Exchange (LSE) said on Tuesday it was launching a number of new products aimed at getting Indian companies and investors to choose it as a... Dollar eases on profit-taking in Tokyo TOKYO, Nov 20: The dollar eased on profit taking in Tokyo on Tuesday, while the market reacted hesitantly towards talk of a second supplementary budget to boost the Japanese economy, analysts... New York cotton futures easier NEW YORK, Nov 20: NY cotton futures settled with fractional losses on Monday in a session dominated by spread activity as players sought to move their positions out of front December... Oil price claws back ground above $18 a barrel LONDON, Nov 20: Oil prices clawed back more ground on Tuesday, pulling away from two-and-a-half-year lows plumbed in the previous session, as Russia signalled that it was still interested in helping... Overseas investment by Pakistanis jumps KARACHI, Nov 20: The investment of Pakistani firms and individuals in foreign securities and business has taken a big jump specially in the Middle East and Malaysia.... Bullish trend on cotton market KARACHI, Nov 20: Cotton market on Tuesday continued to emit bullish sparks as rumours of a short crop did not allow spinners to sit idle for a moment to have an... NWFP writes off Rs37m farmers’ arrears PESHAWAR, Nov 20: In line with the decision of the Supreme Court, the NWFP government has written off over Rs37 million out of the total Rs105 million arrears the province owed... NLC earns Rs93.6m profit in 2000-01 ISLAMABAD, Nov 20: A high-level meeting chaired by Finance Minister Shaukat Aziz was informed here on Tuesday that the National Logistic Cell (NLC) has earned a profit of Rs93.699 million in... Cut in duty drawback withdrawn ISLAMABAD, Nov 20: The Central Board of Revenue (CBR) has withdrawn the cut in duty drawback rates for the manufacturers of synthetic and leather shoes to boost the footware industry....

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