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May 19, 2002 Sunday Rabi-ul-Awwal 6, 1423 FDI up by 19pc during 10 months ISLAMABAD, May 18: The Board of Investment here on Saturday said the flow of Foreign Direct Investment (FDI) during July-April 2001-2002, had increased by 19 per cent as compared to the... Liquidity injection likely as banks cry for cash KARACHI, May 18: Banks on Saturday entered the third straight day of heavy discounting as the State Bank did not hold an open market operation to inject liquidity.... Govt will not allow import of used cars: Razak KARACHI, May 18: Commerce Minister Abdul Razak Dawood has declared emphatically of the government’s intention of not allowing import of used cars despite the fact that the market is still facing... ITBAK for widening tax net KARACHI, May 18: The Income Tax Bar Association, Karachi (ITBAK) has asked the government to bring all segments of the society into the tax net. The association further demanded that instead... LSMI output rises ISLAMABAD, May 18: The Large Scale Manufacturing Industries (LSMI) registered 3.18 per cent growth in its production during July-March period of the current financial year in comparison to the same period... Banking system edging towards consolidation KARACHI, May 18: The banking system has been undergoing restructuring since 1997. The process is still on. The objective is to have stronger banks with improved capital adequacy, asset quality, efficiency... SPI rises ISLAMABAD, May 18: Sensitive Price Indicator (SPI) increased by 0.10 per cent during the week ending May 16 with the rise in prices of 16 essential items as compared to the... Export to Afghanistan goes up ISLAMABAD, May 18: Export to Afghanistan rose by 2.61 per cent to $94.3 million during the July-March period of the current financial year against $91.9 million during the same period last... Exporters suffer due to WRS LAHORE, May 18: The war risk surcharge being charged by the shipping lines from Pakistani exporters after the terror raids on the US soil on September 11 has cost them (exporters)... CBR committee ISLAMABAD, May 18: The Central Board of Revenue has decided to appoint a committee shortly to review the currently pending departmental appeals.... US oil prices up despite looming Russian exports NEW YORK, May 18: US oil prices rose modestly on Friday despite news that Russia will lift its current crude oil export limits by the end of June.... EU Commissioner opposes tax harmonisation plans BRUSSELS, May 18: A member of the European Commission took issue publicly on Saturday with proposals by the executive body’s internal market commissioner Frits Bolkestein for closer harmonisation of taxes within... ‘Turk pipeline back to full capacity soon’ BAGHDAD, May 18: Iraq is expected to restore full export capacity to the Iraqi-Turkish oil pipeline in July when rehabilitation work on a second pumping station is completed, an Iraqi oil... Britain can join euro without tax rises: Rato LONDON, May 18: Britain could be allowed to join the euro without raising taxes or cutting public spending to improve its budgetary balance, the chairman of the Eurogroup of euro zone... Estate, auto may be brought under SECP control ISLAMABAD, May 18: The Securities and Exchange Commission of Pakistan (SECP) has proposed amendment in the Companies Ordinance 1984 to bring the real estate developers, colony developers and automobile suppliers companies... New York cotton futures firmer NEW YORK, May 18: Cotton futures finished with slight gains Friday on modest speculative buying in thin dealings, with the sideways trading pattern expected to last into next week due to... Nasdaq has best week in more than a year NEW YORK, May 18: The tech-heavy Nasdaq Composite Index on Friday ended its best week in more than a year and some money managers are cautiously optimistic that after several false... Fed proposes changes to key loan facility WASHINGTON, May 18: The US Federal Reserve on Friday proposed making it easier for banks to obtain loans from the central bank, in an effort to reduce volatility in the interest... Iran sees no Opec output rise in June TEHRAN, May 18: Iranian Oil Minister Bijan Zanganeh said on Saturday he saw no reason for Opec to raise crude output at its meeting in Vienna in June.... Cotton rebounds on demand for US supplies LONDON, May 18: Cotton prices rebounded thanks to a positive snapshot on demand for US supplies, which helped to staunch recent losses caused by US plans to award massive subsidies to...

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