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January 18, 2002 Friday Ziqa'ad 3, 1422 Musharraf assures cut in banks markup ISLAMABAD, Jan 17: President Gen Pervez Musharraf has assured the business community that interest rates of the banks will shortly be reduced to help attract private investment.... IFAC to release white paper: Money-laundering KARACHI, Jan 17: The Board of directors of the New-York based International Federation of Accountants (IFAC) last week, approved the release of a white paper on anti-money-laundering.... 640 units closed down in NWFP PESHAWAR, Jan 17: One-third of the industrial units in NWFP have been closed down, whereas 60 per cent of the functional manufacturing units are operating below their capacity due to unfavourable... Lending rate to be linked with T-bills: Wheat procurement KARACHI, Jan 17: The State Bank has told the banks involved in commodity financing that the rate at which they are lending money to flour millers for wheat procurement would be... Bulls back in market as war fears recede KARACHI, Jan 17: Stocks on Thursday showed bullish trend as investors covered positions at the lower levels aided by the perception of thinning of war clouds and the consequent peace after... NWFP traders seek lifting of curbs: Trade with CAR, Afghanistan PESHAWAR, Jan 17: Federal government’s decision allowing export of 18 more items through land route from NWFP to Afghanistan and Central Asian Republics (CARs) has apparently failed to satisfy the NWFP... Cotton prices ease on hasty selling KARACHI, Jan 17: Spinners continued to build-up long positions on the cotton market on Thursday as ginners taking a bearish future outlook because of larger unsold stocks remained active sellers at... ATT import value falls by 46.2pc in Dec ISLAMABAD, Jan 17: The import value of Afghan Transit Trade (ATT) fell by 46.21 per cent to Rs492 million in December of the current financial year against Rs914.783 million during the... Act sought for quality cotton production MULTAN, Jan 17: The official drive to lead the country towards the complete production of contamination-free cotton seems to face cold response next year after the bitter experience of growers and... NBP, Doha and Union banks PLS rates KARACHI, Jan 17: National Bank of Pakistan has declared 4.10 per cent profit on Saving Accounts for the period July to December 2001.... CBR to probe discrepancies in IT returns ISLAMABAD, Jan 17: The Central Board of Revenue (CBR) is set to initiate an inquiry into cases of taxpayers who had misreported their real income in returns filed for the assessment... Asian stock markets mostly lower TOKYO, Jan 17: Asian stock markets closed mostly lower on Thursday after taking their cue from the sharp overnight decline on Wall Street due to concerns over US corporate earnings.... Taxpayers to have one-window facility ISLAMABAD, Jan 17: Minister for Finance Shaukat Aziz said here on Thursday that new tax facilitation and collection centres were being established to provide one window operation.... Oil price rebounds LONDON, Jan 17: The price of oil made a modest recovery here on Thursday after recent heavy falls.... Wheat export subsidy on cards: Surplus stocks ISLAMABAD, Jan 17: The government has decided to provide subsidy on export of wheat and wheat products to private sector for disposing of about 2 million surplus wheat stocks.... Ishrat for more focus on Afghan rebuilding PESHAWAR, Jan 17: State Bank Governor Dr Ishrat Hussain has said that Pakistan can play a vital role in the reconstruction of war-ravaged Afghanistan and the business community, especially of NWFP,... Units merger: Kohinoor announces swap ratios KARACHI, Jan 17: Kohinoor Textile Mills Limited has announced swap ratios for merger of other two group units with the company.... Petroleum exploration licence ISLAMABAD, Jan 17: The federal government will award on Friday a concession agreement with Canadian Hydrocarbon Corporation (Scimitar) for petroleum exploration in Dera Ghazi Khan.... Karachi Port operations KARACHI, Jan 17: Six ships carrying general cargo, containers and high speed diesel are expected to arrive at the outer anchorage on Friday, according to KPT sources.... US jobless WASHINGTON, Jan 17: The queue of people making new jobless benefit claims dropped last week to the lowest level since July 2001, the government said on Thursday....

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