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January 19, 2002 Saturday Ziqa'ad 4, 1422 Abbott to take over Knoll: Merger plan okayed KARACHI, Jan 18: Two of the top foreign pharmaceutical companies in Pakistan — Abbott Laboratories Limited and Knoll Pharmaceutical Limited — decided at separate board meetings on Thursday, to merge the... PKIC to launch Islamic commercial bank KARACHI, Jan 18: Pakistan-Kuwait Investment Company has received permission in principle from the State Bank to launch the first Islamic commercial bank, PKIC managing director Zaigham Mahmood Rizvi told Dawn on... SBP waiting for right time: Keeping reserves in euros KARACHI, Jan 18: The State Bank of Pakistan is waiting for the right time to decide about how much of the country’s foreign exchange reserves should be kept in euro.... Car, bike sales drop in Dec KARACHI, Jan 18: Except for truck, sales of entire auto sector remained under pressure during December 2001 in which sales of cars and motorcycles dropped by 8.12 and 14.6 per cent... Stocks finish weekend session on firm note KARACHI, Jan 18: Stocks finished the weekend session on a firm note amid predictions that the KSE 100-share index is heading to breach the next psychological barrier of 1,500 points possibly... Banks asked to provide relief to sick units KARACHI, Jan 18: The State Bank of Pakistan has instructed all the banks to follow recommendations of the Committee for Revival of Sick Industrial Units for financial relief of the cases... FAP meets today to draw plan: Exchange Cos KARACHI, Jan 18: Forex Association of Pakistan has convened a meeting here on Saturday to prepare money changers for the time to come after the creation of the proposed exchange companies.... Viable wheat export plan being evolved ISLAMABAD, Jan 18: The Commerce Minister, Abdul Razak Dawood said on Friday the government was planning to evolve long-term viable, international competitive, qualitative and efficient wheat export procedures with the help... IMF, World Bank meetings WASHINGTON, Jan 18: The International Monetary Fund said on Thursday it plans to hold its spring meetings at the end of April in Washington.... Petroleum exploration licence granted ISLAMABAD, Jan 18: The government on Friday granted a petroleum exploration licence to a joint venture of Scimitar Hydrocarbons Pakistan Limited and Mesa Petroleum for Safed Block of around 1213.74 km.... Buyers keep to sidelines after PCGA figures KARACHI, Jan 18: Cotton market on Friday showed quiet trend as larger than expected arrival figures of phutti into the ginneries allowed spinners to take a technical breather.... Duty cut sought from BD ISLAMABAD, Jan 18: Pakistan will seek reduction in tariff rates on its main exportable items from Bangladesh to enhance trade relations between the two countries, an informed source told Dawn.... Phutti arrival declines by 6.43pc KARACHI, Jan 18: Arrival of phutti into ginneries up to January 15, 2002 stood at 8.424 million bales, showing a decline of 6.43 per cent over the corresponding period of last... Karachi Port operations KARACHI, Jan 18: Four vessels carrying over 2,000 containers are due to arrive at the outer anchorage on Saturday, according to KPT sources.... Rice exporters seek concessions KARACHI, Jan 18: Rice exporters have urged the government to announce special package to help them export the surplus quantity in time, besides capturing Afghan market having potential to absorb 200,000... Asian stock markets mostly higher TOKYO, Jan 18: Asian markets took heart from an overnight rebound on Wall Street to end mostly higher on Friday, with Tokyo shares getting an extra boost from a multi-billion dollar... FTSE lower LONDON, Jan 18: Britain’s FTSE 100 fell on Friday as weak banking and oil shares offset a strong performance by drugmaker GlaxoSmithKline Plc as optimism over an imminent economic recovery faded,... Oil import KARACHI, Jan 18: Pakistan plans to import crude oil from Qatar in hopes that it could get better prices than for supplies from its traditional partners....

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