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January 15, 2002 Tuesday Shawwal 30, 1422 IPBCC lines cut war risk surcharge KARACHI, Jan 14: The India, Pakistan, Bangladesh, Ceylon Conference (IPBCC) lines have reduced war risk insurance surcharge between $25 to $65 per container from Tuesday, on all cargo destined to and... Govt committed to structural reforms ISLAMABAD, Jan 14: The government has decided to assess all existing regulations and procedures with a view to eliminating red tape and corruption by pursuing further deregulation and removing irritants.... Use of loans should be closely monitored ISLAMABAD, Jan 14: The government needs to closely monitor the use of loans and to adopt systematic thinking to avoid getting bad loans, says a senior economist.... Dewan Farooque Motors KARACHI, Jan 14: Dewan Farooque Motors — the producers of Hyundai and KIA vehicles in Pakistan — said the company planned to introduce KIA Sportage Wagon, powered by a two-litre turbo-charged... CBR sets up working group on investment KARACHI, Jan 14: The Central Board of Revenue (CBR) has set up a working group to undertake studies for the promotion of investment, trade sources said.... Rupee gains KARACHI, Jan 14: The rupee on Monday gained five paisa against the dollar on speculative selling triggered by the perception that the current border tension with India may be defused after... Two US firms join Indian leather boycott LAHORE, Jan 14: As a result of the decision by a couple of US companies to stop sourcing leather from India in the wake of reports of cruel treatment of animals,... Libyan dinar TRIPOLI, Jan 14: Libya has slashed the value of its dinar against the dollar and lowered customs tariffs at the same time, officials said on Monday.... Corporate defaults NEW YORK, Jan 14: A record number of companies defaulted on their debt in 2001 around the world, and the number could be even greater in 2002, the credit rating firm... Index up by 53 points on president’s speech KARACHI, Jan 14: Stocks on Monday reacted bullishly to the president’s speech and made an extensive short-covering in the pivotals on the perception that the goal of peace now may not... World Bank chief for steps to improve strategies WASHINGTON, Jan 14: Country-owned poverty reduction strategies are critical in attacking world poverty and enhancing global security and peace... Cotton market lacks buying interest KARACHI, Jan 14: Trading on the cotton market on Monday lacked normal buying interest as spinners kept to the sidelines most of the time, awaiting some positive developments on the export... Three banks PLS rates KARACHI, Jan 14: The Bank of Ceylon has declared 8.50 per cent and the Industrial Development Bank of Pakistan 8 per cent rate of profit on PLS saving accounts for the... Karachi Port operations KARACHI, Jan 14: Nine ships including two carrying vehicles and trucks are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... FPCCI seeks refund of war risk surcharge KARACHI, Jan 14: Pakistani importers and exporters have paid $100-120 million to the foreign shipping lines in terms of war risk surcharge (WRS) from October to December 2,001.... CED exemption ISLAMABAD, Jan 14: The Central Board of Revenue has extended the central excised duty exemption offered to investors in the Special Industrial Zones (SIZs) till December 31, 2002.... China FDI up 14.9pc SHANGHAI, Jan 14: China’s foreign direct investment rose 14.9 per cent in 2001 compared with the previous year, the Ministry of Foreign Trade and Economic Cooperation website said on Monday.... Asian stock markets mostly lower HONG KONG, Jan 14: Share prices in Asia mostly traded lower on Monday after Wall Street losses amid concerns about the US economy.... Palm oil prices down KUALA LUMPUR, Jan 14: Malaysia’s crude palm oil futures fell after CBOT electronic trading shed earlier gains and due to bearish December crop data, traders said on Monday.... Dollar weaker against yen SINGAPORE, Jan 14: The dollar was weaker against the yen in Singapore trading late Monday as it succumbed to profit-taking in light trading, dealers here said....

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