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January 29, 2002 Tuesday Ziqa’ad 14, 1422 Two banks reluctant to bring down lending rates KARACHI, Jan 28: Presidents of two big banks—Habib Bank and the National Bank of Pakistan—dropped broad hints on Monday of their inability to bring down lending rates on the plea that... Pakistan to increase imports from Bangladesh DHAKA, Jan 28: Pakistan is to increase its imports from Bangladesh and look for new areas of economic cooperation, Commerce Minister Abdul Razak Dawood said here on Monday.... Commission to reform banking laws KARACHI, Jan 28: State Bank Governor Dr Ishrat Hussain announced on Wednesday the formation of a Banking Laws Reform Commission to frame a law after reviewing all the banking related laws.... Self-regulation not enough, says SECP chief: Accountancy, auditing KARACHI, Jan 28: The Securities and Exchange Commission of Pakistan chairman Khalid A. Mirza said that ‘self-regulation’ by the auditing profession was not enough and that it also was ‘inappropriate’ for... Body reviews wheat specifications ISLAMABAD, Jan 28: The special committee on wheat marketing system, in its first meting on Monday decided to review the specifications of wheat for procurement in view of changing requirements in... State Bank to set up swap desk KARACHI, Jan 28: The State Bank of Pakistan (SBP) has decided to set up a desk to buy dollars from banks through rupee-dollar swaps, bankers close to SBP told Dawn. They... Panels for Working Group formed KARACHI, Jan 28: The Working Group for the promotion of investment, constituted by government, on Monday formed four sub-committees on, “Under-invoicing”, “Sales Tax Refund”, “Export Rebate”, and “Industrial Raw Materials” to... Anti-money laundering moot begins in Riyadh RIYADH, Jan 28: In the wake of the increasing criticism of the financial institutions of the region in channelling funds to various ‘terrorist organisations,’ specially in the aftermath of the September... SBP’s economic policy dept KARACHI, Jan 28: The State Bank of Pakistan (SBP) has merged monetary and fiscal research department (MFRD) and international economic research department (IERD) to create a new department called economic policy... Index gains 22 points amid heavy covering purchases KARACHI, Jan 28: Stocks on Monday showed fresh widespread gains as institutional traders made fresh heavy covering purchases in some of the pivotals under the lead of PSO followed by reports... Downturn of crony capitalism KARACHI, Jan 28: It is now widely recognized that the new generation of entrepreneurs, whose business practices are being shaped by the emerging market, is elbowing out crony capitalists, nurtured by... Karachi Port operations KARACHI, Jan 28: Berthing activity at the wharves was maintained on the higher side on Monday where both the new arrivals and those awaiting berths were toed to the vacant berths.... Port Qasim KARACHI, Jan 28: Three ships carrying chemicals and wheat were allotted berth at Multipurpose Terminal during the last 24 hours, says a PQA press release on Monday.... ICAP results KARACHI, Jan 28: The Institute of Chartered Accountants of Pakistan (ICAP) on Monday announced the results of CA Professional Winter Examinations held in December 2001, says a press release.... Sell-off process to begin afresh KARACHI, Jan 28: Federal Minister for Privatization Altaf M. Saleem said on Monday, the privatization programme will commence afresh in next few weeks after an inevitable suspension because of post-Sept 11... SECP mobile team visits Sialkot SIALKOT, Jan 28: The Securities and Exchange Commission of Pakistan has assured the Sialkot business community of providing services at their doorsteps to facilitate in earlier registration of companies, besides resolving... Listless trading on cotton market KARACHI, Jan 28: Cotton market resumed trading on a listless note on Monday as spinners were conspicuous by their absence apparently anticipating further decline in prices.... Asian stock markets mixed TOKYO, Jan 28: Asian stocks were mixed on Monday with markets casting a wary eye on Wall Street ahead of a key US Federal Reserve meeting later this week....

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