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DINA
  DAWN - the Internet Edition



April 28, 2002 Sunday Safar 14, 1423

FXCM


Business


Banks to fund white oil pipeline project
KARACHI, April 27: Three major banks — HBL, UBL and NBP—will arrange Rs12.5 billion for Rs29 billion White Oil Pipeline Project of PAPCO. Around Rs10 billion would be floated as TFCs...
Complete Story
Pakistani cos set to start operation in HFZ
KARACHI, April 27: About two dozen Pakistani companies are well set to commence their industrial production and commercial operations in the Hamriyah Free Zone in Sharjah, UAE....
Complete Story
Money supply on the slide
KARACHI, April 27: The rate of monetary expansion has finally fallen within the target set for this fiscal year making it possible for the economic managers to face the second IMF...
Complete Story
Tea smuggling on rise
KARACHI, April 27: Tea trade leaders want prompt remedial measures to check smuggling, otherwise, they fear, volume of smuggled tea will go up to 50,000 tons from the current 32,000 tons....
Complete Story


Business growth shrinks with increased taxes: CORPORATE FOCUS
KARACHI, April 27: In rich states, taxes are lowered to pull economies out of recession or when the initial signs of a slow-down appear....
Complete Story
Democrats blast Republicans on Social Security
WASHINGTON, April 27: Democrats on Saturday criticized Republican proposals to create individual Social Security accounts that workers could invest in stocks and bonds saying the plans require deep cuts in guaranteed...
Complete Story
Russia silent on oil policy: Rodriguez meets oil minister
MOSCOW, April 27: Opec Secretary-General Ali Rodriguez paid a whistle-stop visit to Russia on Saturday but failed to secure any public commitment that the world’s second largest oil exporter would hold...
Complete Story
Honda defies record profit of $2.8 billion
TOKYO, April 27: Japan’s number two automaker Honda Motor Co. Ltd. said on Friday a weaker yen helped boost its annual net profit 56.2 per cent to a record $2.8 billion,...
Complete Story


US stocks sink on poor earnings
NEW YORK, April 27: Stocks fell sharply on Friday, ending the market’s worst week since the post-Sept. 11 week, as grim corporate earnings forecasts offset upbeat economic data....
Complete Story
New York cotton futures lower
NEW YORK, April 27: NY cotton futures reeled from a barrage of fund selling into stops to finish weakly on Friday, with imminent passage of a Farm Bill and rains in...
Complete Story
Farm bill axes packer ban, adopts labeling
WASHINGTON, April 27: In creating a new six-year US farm bill, lawmakers tentatively adopted mandatory country-of-origin labels for meats, fish and produce, but nixed a controversial proposal to ban meatpackers from...
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‘Japan economy shows signs of recovery’
TOKYO, April 27: Japan’s economy showed signs of recovery in March as the jobless rate fell and consumer prices rose from a month earlier, but after a year in office Prime...
Complete Story


Treasuries rise on clouded recovery outlook
NEW YORK, April 27: US Treasuries rose on Friday as the seventh stock slide in eight days and weak orders and business investment trends in the first quarter fostered doubts about...
Complete Story
Slower tax receipts to push US budget gap higher
WASHINGTON, April 27: With its biggest month for tax receipts almost over, the government’s fiscal position has dimmed substantially, leaving the Bush administration facing a larger-than-expected deficit, a need to raise...
Complete Story
China to keep interest rates stable
BEIJING, April 27: China’s central bank will maintain interest rates at current levels in the near future while pushing ahead with some monetary reforms, the official Xinhua news agency quoted the...
Complete Story
US, EU trade chiefs plan retreat in Virginia
WASHINGTON, April 27: With a red-hot trade dispute over steel showing few signs of cooling, top US and European Union negotiators are planning to slip away next week for a one-day...
Complete Story


Saudis boycott US products
RIYADH, April 27: Boycott of US products has started impacting the sales of US products in the region as the campaign is gaining momentum....
Complete Story
Cotton market lacks lustre
KARACHI, April 27: Cotton market finished the weekend session on a cheerless note as both the spinners and the ginners awaited the Supreme Court ruling on the petitions against the referendum...
Complete Story
Shaukat to attend ADB moot
BEIJING, April 27: Finance Minister Shaukat Aziz will represent Pakistan at the 35th annual meeting of Asian Development Bank’s Board of Governors, being held in Shanghai from May 10 to 12,...
Complete Story
Asian Bank to finance study on EPB
KARACHI, April 27: The chairman, Export Promotion Bureau (EPB), Tariq Ikram said Saturday that Asian Development Bank (ADB) will conduct a study for the restructuring of the Bureau....
Complete Story


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