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December 8, 2001 Saturday Ramazan 22, 1422 Monetary management in uncertain times KARACHI, Dec 7: The State Bank says that it has moved towards a proactive monetary management and has signalled to the market that it can defend the rupee without necessarily resorting... Farm credit Disbursement up by 26pc KARACHI, Dec 7: An impressive increase of 26 per cent has been noted in the disbursement of agriculture credit during the first quarter of this fiscal over disbursements made in the... Merger of forex markets on PRGF agenda KARACHI, Dec 7: The merger of inter-bank and kerb markets has been made a part of structural changes required in the Poverty Reduction and Growth Facility (PRGF) from the IMF, according... Steps afoot to check Hundi, Hawala: Shaukat BERLIN, Dec 7: Finance Minister Shaukat Aziz has said that despite adverse impacts of the Sept 11 events on Pakistan’s economy, the agenda of reforms initiated by the government had started... Kohala project Synergics’ terms for feasibility ISLAMABAD, Nov 7: Synergics Energy Limited would submit detailed feasibility study of $1.4 billion Kohala Hydropower Project in February next provided the government protected its intellectual property rights, official sources told... Cotton estimate cut to 1.74m tons WASHINGTON, Dec 6: Pakistan’s MY (market year) 2001/02 cotton production forecast has been reduced to 1.74 million tons due to late-season pest damage. The MY 2001/02 cotton consumption estimate remains unchanged,... Strategy paper seeks to revive growth ISLAMABAD, Dec 7: The government has formulated an exhaustive Interim-Poverty Reduction Strategy paper that seeks to revive growth through improved efficiency and productivity across all sectors of the economy.... US sees higher fuel economy for 2005 light trucks WASHINGTON, Dec 7: The first significant mandatory improvements in fuel efficiency for light trucks in a decade are likely to come in the 2005 model year, a top federal highway regulator... Euro pricing raises demons of past conversions PARIS, Dec 7: The euro is a pretext for underhand pricing tricks, many people fear with support from some consumer studies echoing alarm which has marked currency changes in France, Britain... Dollar gains on confirmation of Japanese recession TOKYO, Dec 7: The dollar hit a four-month high against the yen on Friday after gross domestic product (GDP) data showed Japan had fallen into its third recession in a decade,... NY cotton finishes at 3-month peak NEW YORK, Dec 7: NY cotton futures settled at a three-month peak as fund buying returned in force to the market, abruptly ending a three-day correction seen in fiber futures.... Turkish markets drift while IMF loan hopes persist ISTANBUL, Dec 7: Turkish bonds weakened slightly amid profit-taking on Friday while shares and the lira drifted sideways, pausing for breath after gains driven by positive diplomatic news and hopes for... China to be stronger than in past decade under WTO: Supachai HONG KONG, Dec 7: China’s imminent World Trade Organization entry will see the country emerge even stronger than it has been over the past decade, incoming WTO chief Supachai Panitchpakdi said... Euro debt-yields fall as US data dents recovery hopes LONDON, Dec 7: Yields on interest rate sensitive two-year European government bonds fell sharply on Friday while three-month money market Euribor futures rallied on weaker-than-expected US non-farm payrolls data.... ‘Indonesia’s banking sector may be heading for collapse’ JAKARTA, Dec 7: Indonesia’s banking sector could be heading for another collapse amid slack regulations and signs that President Megawati Sukarnoputri is wavering on banking reforms, according to a research report... Enron loan syndication moves smoothly NEW YORK, Dec 7: Citibank and J.P. Morgan Chase & Co, the top lenders in mergers and acquisition finance, aren’t facing challenges lining up banks to participate in a $1.5 billion... Lint prices fall amid low demand KARACHI, Dec 7: Cotton prices on Friday fell further as ginners continued to unload their long positions amid falling demand from the mills and spinners.... Duty, tax evasion cases pending for want of funds PESHAWAR, Dec 7: Adjudication collectorate, Peshawar, faced with shortage of funds and staff is, apparently, lacking the capacity to decide sales tax and customs duty evasion cases at a quick pace,... Japan falls into recession TOKYO, Dec 7: Japan has slumped into its third recession in a decade and the economy is set to deteriorate further as unemployment rises amid weak consumer demand and the global... PLGMEA wants US orders resumed KARACHI, Dec 7: Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) chairman Fawad Ijaz Khan has requested US ambassador Ms Wendy Chamberlin to assist in confidence-building measures of American buyers and...

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