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June 9, 2002 Sunday Rabi-ul-Awwal 27,1423 Credit to private sector not low: Monetary board meets ISLAMABAD, June 8: The Monetary and Fiscal Policies Coordination Board here on Saturday took notice of the general misconception about the low credit expansion to private sector during the current fiscal... All set for UBL bidding tomorrow ISLAMABAD, June 8: The Privatization Commission has finalized all arrangements to privatize the United Bank Limited on Monday (June 10).... No plausible explanations for Emirates withdrawal KARACHI, June 8: No plausible explanations are available for the withdrawal of Emirates Bank International from Pakistan market. The EBI Pakistan has been operating profitably, with 10 branches, for more than... PQ to have grain storage facilities: 3 bidders shortlisted KARACHI, June 8: The government has decided to develop grain handling and storage facilities at marginal wharf berth of three and four at Port Qasim for imports and exports of food... Corporate governance index under study KARACHI, June 8: Hinting at setting up of corporate governance index, the Chairman of Securities and Exchange Commission of Pakistan (SECP) Khalid Mirza said such a device will help monitor the... US exempts 61 products from steel tariffs WASHINGTON, June 8: The United States said on Friday it was exempting 61 steel products from controversial tariffs on imports that have infuriated US trading partners.... Sitara Chemical KARACHI, June 8: Sitara Chemical Industries Limited— the flagship company of the Sitara group— is all set to issue the country’s first quoted private sector corporate bond, that would be based... BD, Pakistan agree to provide facilities: Bonded warehouses ISLAMABAD, June 8: Bangladesh and Pakistan on Saturday agreed to work together for providing bonded warehouse facilities on bilateral basis, with a view to boosting trade between the two countries, an... SPI depicts higher ISLAMABAD, June 8: Prices of as many as 22 essential items, included in the Sensitive Price Indicator (SPI), shot up during the week ended June 7, 2002, as compared to the... Companies profit from devolution KARACHI, June 8: “Pakistan’s turbulent history has combined with a post-World War Two concept of development to create a highly centralized political and fiscal system.”... Iran will proceed with eurobond issue TEHRAN, June 8: Iran will proceed with its planned eurobond issue for 500 million euros despite the withdrawal of its sovereign rating by a leading US-based investors service, the central bank... Argentina sees IMF deal by July BUENOS AIRES, June 8: Argentine Economy Minister Roberto Lavagna said on Friday he expected the International Monetary Fund to agree to an aid pact by mid-July despite news that negotiations have... Microsoft in talks on EU software concerns BRUSSELS, June 8: Microsoft Corp. said on Friday it was talking with the European Commission overallegations it rigged its operating system software to work better on its server software than rival... German new borrowing to fall to $14.6bn BERLIN, June 8: German Finance Minister said on Saturday new borrowing would fall to 15.5 billion euros ($14.66bn) in the draft budget for 2003 he is due to present to cabinet... Dhaka stocks slightly lower DHAKA, June 8: Dhaka stocks closed slightly lower on Saturday following an announcement by Fu-Wang, a leading ceramic tiles manufacturer, that it will offer a huge chunk of shares for sale,... Bush calls for ‘death tax’ to be buried forever DES MOINES, June 8: US President George W. Bush put election-year pressure on the Democratic-led Senate on Friday to make permanent a major element of his tax cut package by ensuring... Euro zone inflation may edge up MUNICH, June 8: European Central Bank council member and Bundesbank president Ernst Welteke said on Saturday that statistical effects may push June euro zone and German inflation away from this year4s... ‘EU conservatives won’t challenge budget pact’ MUNICH, June 8: European Union center-right parties have agreed not to challenge the bloc’s budgetary “stability and growth pact” in a group drawing up EU reforms, a senior conservative member of... Market must improve before bond placement FRANKFURT, June 8: German airline Lufthansa AG’s corporate finance head Stephan Gemkow said the company still plans to place a long-awaited corporate bond, but is waiting for the right conditions, a... Emirates orders two more Airbus DUBAI, June 8: Emirates has ordered two extra Airbus A330-320 aircraft to meet its ambitious expansion plans, the Dubai-owned carrier said on Saturday....

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