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July 7, 2002 Sunday Rabi-us-Sani 25,1423 Sindh employment drops by 2.5 per cent: Deindustrialization KARACHI, July 6: De-industrialization process in Sindh has picked up considerably, affecting job opportunities in the urban areas, where an official survey has found employment dropping by another 2.5 per cent... Dollar up in inter-bank KARACHI, July 6: The rupee has shed seven paisa against the US dollar for ready buying and selling in the inter-bank market in the first week of the new fiscal year.... MCB asked to improve bid price for UBL ISLAMABAD, July 6: The Privatization Commission (PC) has formally sent a letter to Muslim Commercial Bank (MCB) group to improve its earlier offer of Rs8.5 billion for 51 per cent government’s... Trade deficit in 2001-2002 stands at $1.2 billion LAHORE, July 6: Commerce minister Abdul Razak Dawood on Saturday said the country’s trade deficit during the fiscal 2001- 02 stood at $1.2 billion as compared to the previous year’s trade... President okays public debt office LAHORE, July 6: The president has approved establishment of a public debt office to “monitor and execute debt strategy for ensuring that the level, quality and quantity of public borrowing is... NBP raises draft charges KARACHI, July 6: The state-run National Bank has increased the bank drafts and mail transfer (MT) charges from July 1, 2002.... CIRC to dispose of Rs14.3bn NPAs LAHORE, July 6: The Corporate & Industrial Restructuring Corporation would assume another 131 non-performing assets (NPAs) worth Rs14.399 billion of three development finance institutions and banks in the second phase of... SPI depicts higher ISLAMABAD, July 6: Sensitive Price Indicator (SPI) for the lowest income households with monthly incomes up to Rs3,000 soared by 0.65 per cent during the week ending July 4, as compared... Badla rates decline to 9.2pc KARACHI, July 6: Average carryover (COT) or ‘badla’ rates in the equity market declined to 9.2 per cent during the week ended Friday, from 11.8 per cent the earlier week, IP... Trade avenues in China BEIJING, July 6: China has offered new opportunities to Pakistan to enhance the export of its agro-based products, including rice, wheat, vegetables, fruits, tobacco and raw cotton.... $1bn FDI projected for 2002-03 ISLAMABAD, July 6: The government is projecting $1 billion foreign direct investment (FDI) during 2002-03 specially from the United States and the United Kingdom.... Forex rates COPENHAGEN, July 6: Japanese Finance Minister Masajuro Shiokawa said on Saturday that Japan could not artificially manipulate exchange rates but added that nor could it afford to ignore big swings in... EU, Asian finance ministers see stronger growth COPENHAGEN, July 6: EU and Asian finance ministers and officials gathering here on Friday for a meeting hosted by Denmark agreed that the global economy was recovering although Asian countries would... Malaysian PM mulls SE Asian single currency BANGKOK, July 6: Malaysian Prime Minister Mahathir Mohamad said on Saturday that Southeast Asian countries should consider introducing a common currency to help boost their economies and deepen intra-regional trade.... Indonesia aims to tap new LNG markets in Asia, US BALI, July 6: Indonesia is looking to the Philippines, China and the United States to market its liquefied natural gas (LNG) as part of a more aggressive sales pitch for its... Euro will gain parity with US dollar: Prodi SINGAPORE, July 6: European Commission President Romano Prodi said on Saturday he believes the euro will gain the same weight as the US dollar globally but gave no timetable.... Most US interest rate swaps widen in quiet trade CHICAGO, July 6: US dollar interest-rate swap spreads widened a bit in slow trade on Friday, as a robust stock market rally pulled investors away from safe-haven US Treasuries and similar... Gold prices fall sharply in London LONDON, July 6: Gold prices fell sharply this week on the back of a partial rebound in the value of the US dollar, while oil prices had a quiet run with... Synthetic yarn imports up by 25pc KARACHI, July 6: Pakistan’s textile sector imported synthetic fibre and yarn worth $145.9m during the last year to meet the increasing world demand for the blended fabrics and to earn more... Prices raised by Rs25 on cotton market KARACHI, July 6: Cotton market on Saturday remained in the tight grip of ginners for the third session in a row as supply and demand factors guided the physical trading....

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