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June 2, 2002 Sunday Rabi-ul-Awwal 20,1423 Traders unnerved by border tension: Commodity prices firm KARACHI, June 1: Except for poultry products, ghee and tomato, the prices of all main kitchen items remained generally intact in the last one month amid rising war fear between India... Sindh budget to be tax-free KARACHI, June 1: The upcoming Sindh budget will be “tax free as well as investment friendly” aimed at further promoting industrialization and luring more foreign investment in the province.... Rs110m offered for Al-Haroon Chambers ISLAMABAD, June 1: The Privatization Commission on Saturday received the highest bid of Rs110 million for the sale of Al-Haroon Chambers, Karachi, a property of Republic Motors.... Badla rates stabilize at 16-23pc KARACHI, June 1: Dust seems to be settling down on the ‘badla’ (carryover-COT) market as the annualized weighted average rate stabilized at 16-23 per cent at the week ended Friday, May... War threat may affect orders from US, EU: Garment, knitwear exports LAHORE, June 1: With their fingers crossed at the height of the military standoff between Pakistan and India, knitwear and garments exporters are anxiously waiting for orders both from the US... SPI records increase ISLAMABAD, June 1: Sensitive Price Indicator (SPI) inflation spiralled by a further 0.42 per cent during the week ending May 30 as compared to preceding week, according... Banks fail to lure small savers KARACHI, June 1: They are 5940 in number. But they have in their bank accounts Rs334 billion—or more than one fourth of the total deposits of all the banks combined.... Dollar up on panic buying KARACHI, June 1: The US dollar gained five paisa more against the US dollar in the kerb market on Saturday on panic buying triggered by reports that the US and the... GDP growth KUALA LUMPUR, June 1: Prime Minister Mahathir Mohamad said on Saturday he expected Malaysia’s economy to grow at more than four per cent in 2002, higher than earlier forecasts.... India to raise POL prices NEW DELHI, June 1: India will hike petrol and diesel prices on Monday to cut the losses of state oil firms, which have not been allowed to raise prices since March... Privatization, not an unqualified success KARACHI, June 1: Privatization has met with both successes and failures. The privatization policy has not been an unqualified success.... Looming war threatens Indian growth NEW DELHI, June 1: Indian exports grew a cracking 18 per cent year-on-year in April on increased demand from its key markets, Europe and the United States, but analysts said the... EU may load gun of retaliatory sanctions against US steel tariffs BRUSSELS, June 1: The European Union said on Friday it may load the gun of retaliatory sanctions against US steel tariffs next month but hold fire to allow a final bid... Swiss take ‘quantum leap’ with EU economic pacts GENEVA, June 1: Switzerland hailed its new economic accords with the EU as a “quantum leap” forward, as the deal marking closer ties between the traditionally isolationist Alpine state and its... Germans urge action after euro hangover brings price hikes BERLIN, June 1: Germans welcomed in the single currency along with 11 other European nations on January 1, but now the honeymoon is over.... Global fears keep Wall Street spinning wheels NEW YORK, June 1: Wall Street remains in search of a catalyst after spinning its wheels for another week, unable to get a lift from strong US economic data because of... China bank raises money target BEIJING, June 1: China’s central bank governor Dai Xianglong has upped the bank’s target for money supply growth in 2002 to 14 per cent, in an effort to fight deflationary pressures,... Dollar recovers on strong US data NEW YORK, June 1: The dollar rebounded against major currencies on Friday, benefitting from a set of positive new data releases and an overnight Bank of Japan intervention to weaken the... NY cotton hits 7-week high NEW YORK, June 1: NY cotton futures rose to seven-week high on Friday as funds fought to buy on worries that heavy rains this week were not soaking the neediest US... US may end Chile copper import duty NEW YORK, June 1: The US duty on imports of refined copper from Chile likely will be eliminated quickly when Chile and the US resume delayed free trade talks, the US...

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