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June 23, 2002 Sunday Rabi-us-Sani 11, 1423 Good exporters to get 50pc refund: Pre-audit LAHORE, June 22: The Central Board of Revenue (CBR) will develop profiles of the exporters to “identify good exporters who would get 50 per cent refunds pre-audit.”... Car dealers term cut in import duty an eye wash KARACHI, June 22: The cut in import duty on cars by 20-50 per cent has failed to inject any enthusiasm among car dealers to go for import as they feel that... PVMA seeks cut in edible oil customs duty ISLAMABAD, June 22: The Pakistan Vanaspati Manufacturers Association (PVMA) has demanded proportionate reduction in customs duty on imported edible oil to set off the effect of recent increase in general sales... Edible oil bill drops by $50m: Local production ISLAMABAD, June 22: Pakistan has achieved import substitution to the tune of $50 million in edible oil during 2001-02 as a result of increase in production of oilseed crops, an official... SPI depicts higher ISLAMABAD, June 22: Sensitive Price Indicator (SPI) soared by 0.42 per cent for the lowest income households during the week ending June 21, over the previous week, according to the price... JMC concludes Pakistan, Turkey sign protocol ISLAMABAD, June 22: The 12th session of Joint Ministerial Commission between Turkey and Pakistan, which was in progress at Ankara, concluded on Saturday with the signing of protocol on economic and... Shareholders scramble for place on boards KARACHI, June 22: More shareholders are jostling for a place on company boards then any time before. Unlike the past when the number of contestants matched the number of vacant seats... Euro seen heading for dollar parity PARIS, June 22: As the euro steadily climbed against the dollar last week, experts were increasingly predicting a return to the early days of the currency, when it was trading at... Fed likely to keep rates on hold WASHINGTON, June 22: With rising fears about a stalling US economic recovery, the Federal Reserve is widely expected to keep key short-term interest rates at a 40-year low when it meets... IMF delegation wraps up Argentina visit BUENOS AIRES, June 22: The IMF wrapped up a visit to Argentina on Friday under a cloud, with the Central Bank chief poised to quit and no sign of fully-fledged aid... US power sector may face slowdown FRANKFURT, June 22: Siemens AG expects tougher conditions in the booming US electricity market over coming years, the head of the German industrial giant’s highly profitable power generation unit told a... Lebanese stocks lead Arab markets RIYADH, June 22: Lebanese shares rose 1.1 per cent in the week ending Friday to lead a quiet week that saw seven of the 12 Arab markets decline, Bakheet Financial Advisors... NYCE futures end softer NEW YORK, June 22: NYCE cotton futures finished mostly softer on Friday after late commercial and trade pressure cut short a rally which sent fibre futures surging to a one-year high... US farm bill sends bad signal for WTO talks WASHINGTON, June 22: New US farm legislation that doles out billions of dollar in subsidies to American farmers will make it more difficult to reach a world trade pact in agriculture,... ‘EU economic downturn is over’ SEVILLE, June 22: European Union leaders confidently declared on Saturday that the bloc’s economic downturn was over and said agreed reform measures would underpin recovery.... Enlargement to go ahead as scheduled SEVILLE, June 22: European Union leaders said on Saturday they were determined to stick to their timetable for the bloc’s historic enlargement eastwards, and hoped 10 countries would finish entry talks... Central Excise Rules amended ISLAMABAD, June 22: The government has made amendments in the Central Excise Rules 1944 aimed at harmonising central excise procedures with those of sales tax as announced in the budget.... Spinners reluctant to chase higher prices KARACHI, June 22: Trading activity on the cotton market on Saturday slightly slowed down as spinners were reluctant to chase prices further higher keeping in view their export parity levels for... Saudi-US trade declines RIYADH, June 22: The Arab boycott of the US products is starting to bite. Sharp decline has been reported in Saudi-US trade during the recent months.... Kuwait to raise oil output to 4m bpd DHAHRAN, June 22: The Gulf oil producer Kuwait, an important Opec member, is targeting to increase its crude production capacity to about four million bpd by 2020, from the current 2.4...

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