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January 17, 2002 Thursday Ziqa’ad 2, 1422 SBP to stop $ buying from kerb in July KARACHI, Jan 16: The State Bank of Pakistan will stop purchases for its foreign exchange needs from the kerb market from July 1, sources here said.... Smeda to get $200m from ADB next year KARACHI, Jan 16: The Asian Development Bank (ADB) will provide $150-200 million loan to the Small and Medium Enterprise Development Authority (Smeda) by April next year under Trade Enhancement Finance Programme... Pak-Oman Investment operations by Feb-end KARACHI, Jan 16: Pak-Oman Investment Company (Pvt) Limited — a Rs1.5 billion, joint venture project between Sultanate-e-Oman and Government of Pakistan is all set to begin operations.... Collection under direct taxes down by 11.2pc: Southern region KARACHI, Jan 16: The southern region collected Rs16.621 billion in direct taxes during July-December 2001, as against Rs18.707 billion netted in the same period last fiscal. As a result the revenue... S&P affirms Pakistan rating ISLAMABAD, Jan 16: Rating affirmed by Standard & Poor’s Wednesday on Pakistan has reduced the risk of selected default on the government’s rated debt owed to private creditors.... EPB sets up body to facilitate companies: Afghan rebuilding KARACHI, Jan 16: The Export Promotion Bureau has constituted a nine-member committee to formulate recommendations for providing facilities to Pakistani construction firms intended to work in Afghanistan.... Insurance cos given Feb 1 deadline: Reinsurance cover ISLAMABAD, Jan 16: The Securities and Exchange Commission of Pakistan (SECP) has decided to revoke on February 1, 2002 the registration certificates of insurance companies, who failed to prove adequate reinsurance... $994m current account surplus in five months KARACHI, Jan 16: Pakistan earned a current account surplus of $994 million in the first five months of this fiscal year — thanks largely to a higher home remittances and a... Rice cartel YANGON, Jan 16: Myanmar has agreed in principle to be part of a rice “cartel” formed by Asia’s leading rice exporters aimed at regulating prices as well as stabilizing the world... Finance facility LAHORE, Jan 16: Wapda has secured a fresh short-term finance facility of Rs400 million from Bank Alfalah Ltd for one year at an interest rate of 11 per cent per annum,... Investors play safe awaiting Powell visit outcome KARACHI, Jan 16: Stocks on Wednesday finished on a mixed note as investors were not inclined to take long positions and played safe apparently awaiting the outcome of Colin Powell’s peace... Steel pipe export to Sri Lanka declines LAHORE, Jan 16: Pakistan’s steel pipe exports to Sri Lanka have declined to between $1.5-2 million in the last one year from $5-6 million as a consequence of a free trade... Brisk trading on cotton market KARACHI, Jan 16: Cotton market on Wednesday passed through another briskly traded session as spinners and mills continued to cover positions against forward sales of cotton yarn.... Karachi Port operations KARACHI, Jan 16: Four container vessels carrying about 2,000 units are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Habib Bank PLS rates KARACHI, Jan 16: Habib Bank Limited, one of the two top banks of the country, has declared 4 per cent annual rate of return on PLS Saving accounts for the period... IT opportunities KARACHI, Jan 16: Advisor to Federal Science and Technology Minister, Salman Ansari has said that the Information Technology is progressing fast in country and the need for embracing future challenges must... Gold firmer LONDON, Jan 16: Gold prices rose in European trading on Wednesday, amid short-covering ahead of the Bank of England auction later today, traders said.... New York cotton futures higher NEW YORK, Jan 16: NY cotton futures settled near the session peak on Tuesday due to buying by small speculators in a session devoid of market-moving news, with more of the...

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