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May 31, 2002 Friday Rabi-ul-Awwal 18,1423 Stocks fail to extend overnight rally KARACHI, May 30: Stocks on Thursday failed to extend the overnight rally followed by profit-selling triggered by reports of a mortar attack on an Indian police camp in occupied Kashmir, killing... PPL sell-off delayed for two years ISLAMABAD, May 30: The government has decided to put on hold the privatization of Pakistan Petroleum Limited (PPL) for one to two years to accentuate its financial strength as a result... Closed units may have incentives in budget ISLAMABAD, May 30: The government is considering to announce a package of incentives for the closed industrial units in the budget of 2002-03.... FFC to take over Pak Saudi today KARACHI, May 30: Fauji Fertilizer Company on Thursday made a payment of Rs5 billion to the Privatization Commission out of Rs7.3 billion that it has to pay for the state-run Pak... Sindh mega projects not to be ignored: NEC takes up PSDP next month KARACHI, May 30: The federal government is giving a fresh look to the Rs144 billion Public Sector Development Programme (PSDP) for the next fiscal year to find room for inclusion of... Dollar sinks to 15-month low vs euro LONDON, May 30: The dollar sank to 15-month lows against the euro and a six-month nadir against the yen on Thursday as fresh losses on Wall Street kept the US currency... First Imrooz Modaraba KARACHI, May 30: It is difficult for the best of stock picking gurus to understand the market mood. In deciding on whether to invest or not to invest in the modaraba... $ up in kerb, inter-bank market KARACHI, May 30: The US dollar gained 10 paisa in spot buying and selling in the kerb market on Thursday on short supply. Forex Association of Pakistan said the greenback closed... S. Asian bankers worry about cost of war COLOMBO, May 30: South Asian central bankers began a two-day meeting on Thursday aiming to streamline monetary dealings between their countries, but with the cost of a war between India and... Aramco to invite bids RIYADH, May 30: State-owned Saudi oil giant Aramco plans to invite offers for around 94 projects worth some $4 billion in the coming 18 months, a top energy official was quoted... Provinces oppose NRB proposal for PFC PESHAWAR, May 30: Provinces have opposed the National Reconstruction Bureau’s (NRB) proposals regarding formulation of Provincial Finance Commission (PFC) for devising formula to distribute provincial resources among the district governments and... Workshop on dates exports KARACHI, May 30: A joint workshop was held at a local hotel by members of Date Exporters & Producers Association and Union of Small & Medium Enterprises (UNISAME) on the request... CBR move to reduce drawback flayed KARACHI, May 30: Pakistan Readymade Garments Manufacturers & Exporters Association (Prgmea) has expressed serious concern over press reports that the Central Board of Revenue is considering reducing duty drawback rates in... Cotton prices resist fresh decline KARACHI, May 30: Cotton prices resisted fresh decline for the third session in a row as spinners and exporters remained active buyers in a bid to build up workable positions owing... Karachi Port operations KARACHI, May 30: Four ships including car carrier Dresden carrying 112 units are expected to arrive at the outer anchorage on Friday, according to KPT sources.... Clarification KARACHI, May 30: Pakistan Tea Association (PTA) has said that the cumulative impact of import duty on tea comes to 66 per cent instead of 40 per cent as mentioned in... HK gold HONG KONG, May 30: Hong Kong gold prices closed higher on Thursday at US$324.60-325.10 an ounce, against the previous day’s closing rate of 320.20-320.70.... Malaysian palm oil prices rebound KUALA LUMPUR, May 30: Outlook of steady demand from main buyers such as Pakistan, India and China plucked Malaysian palm oil futures from the negative territory at the close on Thursday....

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