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June 26, 2002 Wednesday Rabi-us-Sani 14, 1423 Turkey raises textile quota by 3,000 tons ISLAMABAD, June 25: Turkey has enhanced Pakistan’s textile quota by additional 3,000 tons for the years 2002 and 2003 and has promised to provide tariff concessions on Pakistani exports of 20... Post-budget market calm, quiet KARACHI, June 25: Local markets are calm and quiet in terms of business activities soon after the 2002-2003 budget and dealers of various goods say that the budget has not fuelled... Rising euro attracts kerb market investors KARACHI, June 25: The euro — the single currency of 12 European nations — has risen by 12 per cent against the rupee in the inter- bank market in less than... NWFP to get Rs2.7bn as GST share PESHAWAR, June 25: The NWFP government is likely to get over Rs2.7 billion during the financial year 2002-03 in line with the federal government’s decision to transfer 2.5 per cent of... Doha Bank quitting Pakistan RIYADH, June 25: Doha Bank is exiting Pakistan, the General Manager of the Bank Salah Jaidah was reported as saying by the Middle East Economic Digest. Jaidah, who took over as... Adamjee Jute Mills closed DHAKA, June 25: In a bold move the government has decided to close down the country’s first and the largest 52-year-old Adamjee Jute Mills (AJM) to cut the staggering losses being... EoIs invited for Bank Alfalah ISLAMABAD, June 25: The Privatization Commission has invited Expressions of Interest (EOIs) from the interested parties for disinvesting a minimum of 28 per cent equity stake in Bank Alfalah Limited through... Sitara Chemical TFCs get Rs224m KARACHI, June 25: Sitara Chemical Industries Limited has received Rs224 million against the offer of Rs105 million worth of Term Finance Certificates (TFCs) to the public.... Universal Leather & Footwear: CORPORATE PROFILE KARACHI, June 25: On Tuesday, the company told the stock exchange that an extraordinary general meeting of the shareholders held on June 20, had approved buy-back of 631,055 shares at Rs80... Stocks stage modest recovery amid short-covering KARACHI, June 25: Stocks on Tuesday staged a modest recovery followed by stray short-covering in the leading base shares, but the direction of the market is unclear as investors are not... Pakistan textile sector awaits US incentives NEW YORK, June 25: Pakistan’s textile and apparel industries, which dominate the country’s economy and account for 60 per cent of its industrial employment, have been battered by a combination of... Prices raised on cotton market KARACHI, June 25: Physical activity on the cotton market remained slow on Tuesday as ginners further raised their asking prices for the ready stuff in line with the international rates.... SBP profit projected at Rs26bn KARACHI, June 25: The government has projected the State Bank profit at Rs26 billion for fiscal year July/June 2002-03.... Tax reforms: Maxwell hired as consultants ISLAMABAD, June 25: The Central Board of Revenue (CBR) on Tuesday signed a draft agreement with Maxwell Stamp PLC, a multinational company of UK as consultants for the reform programme of... NWFP may set aside Rs9.9bn: Debt servicing PESHAWAR, June 25: NWFP is likely to project around Rs9.9bn for debt servicing in its budget for the next financial year to repay part of its soaring domestic and foreign loan,... SSGC plant transfer to PPL okayed KARACHI, June 25: The shareholders of Sui Southern Gas Company (SSGC) approved the transfer of purification plant, situated at Sui, to Pakistan Petroleum Limited (PPL) through a special resolution unanimously passed... Malaysian palm oil prices lower KUALA LUMPUR, June 25: Disappointing June 1-25 exports data dragged down Malaysia’s crude palm oil futures on Tuesday and some traders expected end-June stocks to rise further because of a slowdown... Indian rupee MUMBAI, June 25: The rupee snapped a six-session rising trend to end Tuesday a touch lower on increased payments by importers, including a large private-sector firm.... Karachi port operations KARACHI, June 25: Three ships carrying palm oil, chemicals and phosphate are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Gold ends lower LONDON, June 25: Gold fell back on Tuesday as rebounding stock markets and a recovery in the dollar took the shine off the traditional safe-haven asset....

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