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| December 14, 2001 | Friday | Ramazan 28, 1422 |
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Package to facilitate KESC sell-off
ISLAMABAD, Dec 13: The federal government has decided to make special budgetary allocations in 2002-03 to fund a special financial restructuring package for the Karachi Electric Supply Corporation.... 
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PECO land offered for sale
KARACHI, Dec 13: Privatization Commission (PC) on Thursday offered for sale the land of Pakistan Engineering Company Limited (PECO) located at Badami Bagh, Lahore....
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PRGF sets tax-GDP ratio at 14.3pc for 3 years
ISLAMABAD, Dec 13: The government has to raise an additional revenue of Rs140 billion during the next three years to increase the current tax-GDP ratio from 11 per cent to 14.3...
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EU duty removal to fetch extra $140 million: Textile export
KARACHI, Dec 13: Textile exporters will add 150 million euro (about $140m) to the national exchequer from January next year as a result of duty-free imports from Pakistan by the European...
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Shipping freight rates cut by 40pc
KARACHI, Dec 13: The shipping freight rates have been slashed by as much as 40 per cent by foreign shipping lines after the drop in Pakistani sea-borne trade cargo since September...
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PRGF: performance criteria, benchmarks
KARACHI, Dec 13: Pakistan’s progress towards poverty reduction would be closely monitored by the IMF under its Poverty Reduction and Growth Facility (PRGF) programme....
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World Bank asks China to adopt hands-off approach
BEIJING, Dec 13: The Chinese government will have to adopt a more hands-off approach to its economy as it enters an era characterized by fast technological change, a senior World Bank...
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China, BD to pace Asian growth in 2002
SINGAPORE, Dec 13: China and Bangladesh are forecast to be Asia’s fastest-growing economies in 2002 as the region’s more advanced nations reel from the impact of the US-led global slump, a...
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UK shares end lower on weak US sales data
LONDON, Dec 13: Britain’s FTSE 100 hit a six-week closing low on Thursday as weak US retail sales data and a trading update from software firm Logica frustrated a market anxious...
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Manila rejects IMF proposal
MANILA, Dec 13: Philippines President Gloria Arroyo on Thursday rejected International Monetary Fund (IMF) advice to raise oil taxes, saying petroleum was already heavily taxed....
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NY cotton ends lower
NEW YORK, Dec 13: NYCE cotton futures ended lower on Wednesday when a lack of follow-through from yesterday’s advance spawned speculative and local selling in the market....
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Russia forex reserves fall, rouble slides
MOSCOW, Dec 13: Russian foreign reserves showed their second big fall in two weeks on Thursday, undermining the rouble and showing the pressure the authorities are facing over the currency in...
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Japan urged to form system to trade NPLs
TOKYO, Dec 13: A senior US State Department official has encouraged his Japanese counterparts to establish a system where bad loans can be traded among investors to help revitalize Japan’s moribund...
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China’s first WTO year to be tough
BEIJING, Dec 13: China’s economy is expected to face “severe difficulties” in the country’s first year as a member of the World Trade Organization (WTO), a senior economics minister said on...
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Enron to sell $6bn assets
WASHINGTON, Dec 13: Bankrupt energy firm Enron has unveiled to creditors a plan to sell up to six billion dollars of assets and reorganize around core operations, in a bid to...
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HK economy to grow 2 per cent in 2002
HONG KONG, Dec 13: Hong Kong’s economy will grow by about 2 per cent in 2002 after this year’s zero growth, the Hong Kong Chamber of Commerce said on Thursday....
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Beijing needs 8m jobs to keep jobless rate down
BEIJING, Dec 13: China will need to create 8 million new jobs next year to keep urban unemployment below an already increased level of 4.5 per cent, according to its labour...
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Asia piling up excessive forex reserves
MANILA, Dec 13: Asia is piling up excessive foreign reserves to cushion itself from another financial crisis instead of using the funds to fuel capital markets and spur much-needed economic growth,...
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Firm trend on cotton market
KARACHI, Dec 13: Cotton market on Thursday showed firm trend but physical activity failed to pick up as spinners again withdrew to the sidelines....
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Slowdown in deposit growth reversed
ISLAMABAD, Dec 13: Deposits mobilization earlier on wane, has recorded turnaround with surging propensity in the growth of banks’ deposits....
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