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| December 6, 2001 | Thursday | Ramazan 20, 1422 |
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Govt asks banks to cut lending rates
ISLAMABAD, Dec 5: A high-level meeting on Wednesday directed the commercial banks to reduce their interest rate as the State Bank has already cut its discount rate by 4 per cent.... 
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Vehicles conversion to CNG may fall
KARACHI, Dec 5: The conversion of vehicles from petrol to CNG will decline by 25-30 per cent in case POL prices continue to fall....
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Rupee firm despite huge $ outflow
KARACHI, Dec 5: Pak Arab Refinery Co. (PARCO) made $54 million debt servicing and Kuwait Petroleum Co footed $12.5 million oil import bill on Wednesday. But the rupee held firm despite...
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Sindh ginners seek arbitration tribunal: Lint prices
KARACHI, Dec 5: Sindh ginners have urged the government to set up an arbitration tribunal to settle trade disputes arising out of wide fluctuations in prices of lint cotton....
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Insurance cos mergers, closures on cards
ISLAMABAD, Dec 5: Pakistan’s insurance sector is expected to soon undergo large-scale restructuring through mergers, acquisitions and closures in view of emerging market conditions and increased capital and solvency requirements....
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Afghani soars on Bonn accord
KABUL, Dec 5: The Afghani currency soared more than 10 per cent in Kabul’s unofficial money markets on Wednesday on news that the inter-Afghan talks in Germany had confirmed Pashtoon royalist...
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Major scrips lead gains on stock market
KARACHI, Dec 5: Stocks on Wednesday showed an improved trend as leading shares came in for active support at the lower levels, but there was no matching selling from any quarter...
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China finds corny solution to energy problems
BEIJING, Dec 5: After years of bumper harvests, China has more corn than its 1.3 billion people can possibly eat and is turning some of the surplus into cheap fuel for...
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‘Japan may buy US bonds to fund monetary policy’
TOKYO, Dec 5: Japan may buy foreign bonds to increase liquidity in the financial system in a bid to spur its flagging economy, a ruling party leader said on Wednesday....
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US steel companies to boost production
BETHLEHEM, Dec 5: Four major US steel companies are considering a major consolidation to boost production and competitiveness, Bethlehem Steel Corp. said in a statement....
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Yen stays weak against dollar
TOKYO, Dec 5: The yen remained weak against the dollar in Tokyo on Wednesday due to the gloom over the Japanese economy, dealers said....
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Asian stocks mostly higher
TOKYO, Dec 5: Asian stocks were mostly higher on Wednesday, boosted by gains on Wall Street and hopes the semiconductor industry could recover sooner than had been expected....
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Palm oil prices lower
KUALA LUMPUR, Dec 5: Malaysian crude palm oil futures fell in choppy trade on Wednesday with players eagerly awaiting fresh estimates for November output, end-month stocks and exports....
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Infineon and Toshiba brush up alliance on Bluetooth
TOKYO, Dec 5: Technology giants Infineon of Germany and Japan’s Toshiba Corp. launched two key components Wednesday to enhance the benefits of Bluetooth in goods like personal computers and electronic notebooks....
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IMF blames bad governance for 1990s failures
ISLAMABAD, Dec 5: Reform programmes that governments have agreed with the IMF will “not” deliver the intended results unless they are implemented, believes a senior IMF official....
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Buying spree continues on cotton market
KARACHI, Dec 5: Cotton market on Wednesday maintained a firm trend as spinners and mills were not inclined to take even a technical breather in the wake of lower arrival figures...
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Great potential for investment in oil, gas sector
ISLAMABAD, Dec 5: Minister for Petroleum and Natural Resources, Usman Aminuddin said on Wednesday oil and gas sector offered a host of investment opportunities and widespread potential for the foreign investors,...
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Oil price rallies above $20
LONDON, Dec 5: The oil price jumped above $20 a barrel here on Wednesday after an output gamble by the Opec exporting group appeared to have paid off, with Russia bowing...
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UK shares rise
LONDON, Dec 5: Britain’s leading share index surged over two per cent on Wednesday in brisk trade as Wall Street raced higher in a tech-led rally confident of an economic recovery...
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Russia to cut oil exports by 5pc
MOSCOW, Dec 5: Russia said on Wednesday it would cut its booming exports of oil by around five per cent from next year, caving in to pressure from Opec to help...
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