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December 15, 2001 Saturday Ramazan 29, 1422 Heating value-based gas tariff planned ISLAMABAD, Dec 14: In a major policy shift, the government has decided to fix gas tariff for all consumer groups on the basis of heating value instead of existing volume-based gas... Sales of bus, bike, tractors pick up: Car buying falls by 21pc KARACHI, Dec 14: The downturn in local cars demand accelerated in November, falling by 21 per cent in third straight month as country’s economic indicators showed no apparent sign of recovery.... US senator for easing curbs on Pakistan textiles WASHINGTON, Dec 14: A US Senator has made a strong plea for easing US restrictions on the import of Pakistani textiles to prevent thousands of Pakistani workers from losing their jobs... Afghan relief supplies: $100m export targeted KARACHI, Dec 14: Pakistan is targeting over $100 million exports through participation in UN administered relief supplies for Afghanistan refugees.... Opec oil revenues to plunge 14pc in 2002: US WASHINGTON, Dec 14: A drop in world oil demand and prices mean OPEC’s oil revenues will plunge 19 per cent this year and fall another 14 per cent next year, the... Sana Industries: CORPORATE PROFILE KARACHI, Dec 14: It may have almost gone unnoticed that the company has released the Annual Report and audited accounts for the year ended September 30, 2001, in just under six... Experts debate merits of IMF bankruptcy idea WASHINGTON, Dec 14: Analysts remain divided over whether an International Monetary Fund (IMF) proposal to help insolvent countries avoid litigation by private bondholders will quell the financial jitters associated with international... China slams US trade curbs move: Steel imports BEIJING, Dec 14: New WTO member China blasted proposed US limits on steel imports and a cut in China’s textile export quota on Friday, urging its second biggest trading partner to... Japan sees extra spending to aid economy TOKYO, Dec 14: Japan said on Friday its latest extra budget could halt economic contraction in the next fiscal year, but the bullish projections failed to convince financial markets which knocked... Asian bankers, brokers to enter 2002 with fear: Job cuts HONG KONG, Dec 14: Asian investment bankers and brokers spared by this year’s job axe will enter 2002 with trepidation, but experts say further deep job cuts in the region are... Russian palm oil imports to surge MOSCOW, Dec 14: Russian palm oil imports are seen soaring this year to 240,000-250,000 tons from 158,000 tons in 2000, the information and analysis centre of Nizhny Novgorod Butter and Fat... New York cotton closes easier NEW YORK, Dec 14: NYCE cotton futures ended near session lows on Thursday as options-related and fund selling knocked fibre prices lower, with the news of another bumper USDA cotton sales... Malaysian palm oil futures firm KUALA LUMPUR, Dec 14: Malaysian crude palm oil futures firmed at the close on Friday, but slow volume showed many players had lost interest in the market ahead of next week’s... South Korea opposes weaker yen policy SEOUL, Dec 14: South Korea’s top foreign exchange official said on Friday Japan’s policies favouring a weak yen were not desirable and Seoul was ready to take action to moderate the... US economic package heads for back room WASHINGTON, Dec 14: After weeks of intense partisan bickering, the future of an economic stimulus package is in the hands of six men in a back room — especially one senator... EU to clear Lufthansa, AA alliance BRUSSELS, Dec 14: The European Commission said on Friday it will clear a partnership between Germany’s Lufthansa and Austrian Airlines after the airlines offered concessions to address some competition concerns.... Industry output drop dims euro zone outlook PARIS, Dec 14: Industrial production fell across most of the euro zone in October as firms trimmed output and froze investment to deal with a global economic slowdown that threatens to... European countries brace for euro PARIS, Dec 14: From the Arctic Sea to the Straits of Gibraltar, European police are on high alert as armored vans and military convoys carry hundreds of billions of dollars’ worth... Gharibwal Cement fined for making unlawful advances ISLAMABAD, Dec 14: The Securities and Exchange Commission of Pakistan (SECP) has imposed a fine of Rs300,000 on each of the five working directors including the chairman and chief executive of... Dull trading on cotton market KARACHI, Dec 14: Cotton market on Friday passed through another lean session as spinners kept to the sidelines and did not bid for any lot owing partly to delivery problems....

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