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November 29, 2001 Thursday Ramazan 13, 1422 Banks looking for benchmark: Lending rate KARACHI, Nov 28: The State Bank has asked the banks to see if they can set a benchmark of lending rates for their customers. And the central bank has sought a... Downward revision of POL price likely KARACHI, Nov 28: The Oil Companies Advisory Committee (OCAC) is expected to announce price cut in petroleum products as a result of stable exchange rate and declining international oil prices.... LSE board against coopting new member: Resignations LAHORE, Nov 28: The Lahore Stock Exchange (LSE) directors on Wednesday decided against coopting any persons on the board to fill the vacancies created by the resignations of their chairman, vice-chairman... Smaller private banks outperform foreign peers KARACHI, Nov 28: Smaller private banks are showing robust growth, outperforming their foreign and local peers and defying official concerns that they may not be able to face the fierce market... Stocks maintain upward thrust on follow-up support KARACHI, Nov 28: Stocks on Wednesday maintained their upward thrust as the strength of leading shares spilled over to other counters followed by active follow-up support both from the general investors... Afghani falls PESHAWAR, Nov 28: The exchange value of Afghanistan’s national currency — afghani — against Pakistani rupee fell during the last couple of days, market forces told Dawn here on Wednesday.... Body to probe Hubco fax message ISLAMABAD, Nov 28: The Securities and Exchange Commission of Pakistan (SECP) has appointed a three-member committee to investigate into the forged fax message drama announcing Hub Power Company’s dividend and subsequent... TCP receives 16 bids for 10,000 bales of cotton KARACHI, Nov 28: The Trading Corporation of Pakistan (TCP) has received 16 bids against its season’s second tender for export of 10,000 bales of cotton, official sources said.... S&P cuts Japan’s long-term credit rating TOKYO, Nov 28: Global risk evaluator Standard and Poor’s cut Japan’s long-term sovereign rating on Wednesday, citing a failure by Tokyo to implement reforms amid ballooning national debt and a crippled... China lifts curbs on brokerages expansion SHANGHAI, Nov 28: China has loosened restrictions on expansion by securities companies to bolster their competitiveness ahead of the country’s admission to the World Trade Organization, a report said on Wednesday.... Malaysian palm oil prices fall KUALA LUMPUR, Nov 28: Malaysian crude palm oil futures fell on Wednesday with players getting uneasy about Nov output and the possibility of India raising its RBD palm olein base price,... Moore hopeful of new global talks within three years HONG KONG, Nov 28: WTO director general Mike Moore is confident of finishing a new round of global trade talks within three years, he told a conference on Wednesday.... EU sees budget deficits staying under 3pc BRUSSELS, Nov 28: The European Commission said on Wednesday it does not expect euro zone countries’ budget deficits to exceed three per cent of their national output even though fiscal policy... Deutsche Telekom posts $552m loss BONN, Nov 28: Deutsche Telekom plunged into loss in the third quarter of this year owing to costs connected with new-generation mobile phone technology, but underlying earnings improved on strength in... Yen firmer against dollar TOKYO, Nov 28: The yen was slightly firmer against the dollar in Tokyo on Wednesday despite Standard and Poor’s decision to cut Japan’s long-term sovereign debt ratings, dealers said.... Russia, US agree on ‘just’ oil prices MOSCOW, Nov 28: Russian Energy Minister Igor Yusufov and his US counterpart Spencer Abraham agreed on Wednesday that global oil prices “must be just” and strictly dictated by market mechanisms.... Ginners increase asking price on cotton market KARACHI, Nov 28: Cotton market on Wednesday showed firm trend as revival of mill demand after a couple of lean sessions encouraged ginners to increase their asking prices.... Wheat procurement ISLAMABAD, Nov 28: The government has decided to fix wheat procurement target at four million tons by the public sector in the forthcoming harvesting season of the crop.... Regulatory duty SC admits review petition ISLAMABAD, Nov 28: Admitting a review petition against its own judgment on the regulatory duty, the Supreme Court has issued notice to Attorney General to give his views whether the court... Govt urged to utilize foreign aid for trade MULTAN, Nov 28: All Pakistan Bedsheets and Hosiery Manufacturers Association has urged the government to utilize the foreign aid for the promotion of trade and export....

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