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January 9, 2002 Wednesday Shawwal 24, 1422 Egypt ready to import wheat, rice ISLAMABAD, Jan 8: Egypt has offered to import rice, tobacco and wheat from Pakistan and enhance bilateral cooperation in other fields.... China to set up wind power station ISLAMABAD, Jan 8: China will establish wind electricity generation demonstration station in Pakistan under a programme to help resolve the power supply problems in rural areas of the country.... Cotton crop size estimated at 10.4m bales KARACHI, Jan 8: Cotton crop size this season has been assessed at 10.4 million bales ex-farm by the Cotton Crop Assessment Committee (CCAC) of the Pakistan Central Cotton Committee (PCCC).... PRCL refusal puts insurance cos in trouble: Reinsurance treaties LAHORE, Jan 8: The last-minute refusal by the Pakistan Reinsurance Company Ltd (PRCL) to endorse reinsurance treaties of several local insurance companies has left them high and dry as they strive... Drawback thru banks ISLAMABAD, Jan 8 : The government is considering a proposal of allowing payment of duty drawback to exporters through scheduled banks.... Forex body warns of counterfeit euro notes KARACHI, Jan 8: Pakistan Forex Association has warned of counterfeit euro currency notes entering the local market from outside to destabilize Pakistan’s currency and economy.... Crescent Leasing: CORPORATE PROFILE KARACHI, Jan 8: Crescent Leasing Corporation Limited (CresLease) posted 37.3 per cent growth in after-tax profit to Rs42.3 million for the year ended June 30, 2001, from a year ago taxed... 35pc looms closed down in Faisalabad FAISALABAD, Jan 8: Over 35 per cent powerlooms factories and other textile ancillary units have been closed down in the city and its adjoining industrial areas owing to continuous recession and... Shares beat hasty retreat on Blair visit outcome KARACHI, Jan 8: Shares on Tuesday beat a hasty retreat as a section of investors indulged in hasty selling disappointed apparently by the British prime minister’s visit and his failure to... Heimtextil: a poor show of EPB KARACHI, Jan 8: Organizers of Heimtextil—world’s largest trade fair for home textiles held at Frankfurt every year—have recorded objections on the use of hazardous material in setting up of Pakistan stalls.... Ginners make panic selling KARACHI, Jan 8: Cotton market on Tuesday showed easy trend as ginners indulged in panic selling in the absence of positive signals from the textile export front but spinners lifted all... Duty relief for pharma raw material ISLAMABAD, Jan 8: The Central Board of Revenue (CBR) has exempted customs duty, an excess of 10 per cent ad valorem, on import of three raw materials to be used in... Karachi Port operations KARACHI, Jan 8: The activity at the Karachi Port is expected to further pick up on Wednesday as seven ships carrying containers and general cargo are due to arrive, according to... Palm oil prices firm KARACHI, Jan 8: Palm oil prices in remained firm during the past week on buoyant local demand, with traders looking to boost stocks on reports of falling palm oil reserves in... Bankruptcies TOKYO, Jan 8: Japan Inc. can expect another tough year in 2002 as the number of bankruptcies threatens to break record highs amid a deep economic slump, analysts warned on Tuesday.... KSE appoints seven outside directors KARACHI, Jan 8: The KSE has announced appointment of seven outside directors on its Governing Board of Directors for the year 2002.... New York cotton futures firmer NEW YORK, Jan 8: NY cotton futures settled firmer on Monday due to steady speculative buying in the market, with operators looking toward news from the upcoming Beltwide Cotton meeting and... Cathay resumes service today KARACHI, Jan 8: Cathay Pacific Airways will resume its service between Hong Kong and Karachi from Wednesday (Jan 9). As before, all flights on the three-times-a-week return service from Hong Kong... Lay-offs SEOUL, Jan 8: South Korea’s Daewoo Motor Sales Co Ltd said on Tuesday it planned to lay off 393 people, or 12.3 per cent of its workforce, in February, to cut... Tea prices MOMBASA, Jan 8: Low demand drove prices down when trading resumed at the east African tea auction after the end of year holidays, dealers said on Tuesday....

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