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| July 16, 2002 | Tuesday | Jamadi-ul-Awwal 5, 1423 |
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Altowfeek to merge with First Crescent
KARACHI, July 15: Altowfeek Investment Bank Limited is all set to merge with First Crescent Modaraba, which would create First Standard Investment Bank Limited.... 
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PVMA announces shutdown from 17th: Protest against GST
PESHAWAR, July 15: The gee manufacturing units across the country would stop production from July 17 in protest against the non-acceptance of their demands by the federal government....
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Marginal decrease in POL prices
KARACHI, July 15: The Oil Companies Advisory Committee (OCAC) on Monday has made a marginal decrease in prices of petrol, high octane blending component (HOBC) and high speed diesel (HSD) by...
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Razak for boosting trade with Iran: Rail/road routes
ISLAMABAD, July 15: Commerce Minister Abdul Razak Dawood on Monday emphasized the need for greater volume of goods transactions via rail/road routes under the bilateral agreement with Iran....
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Euro rises above dollar parity
LONDON, July 15: The euro rocketed above parity against the dollar on Monday for first time for more than two years on a groundswell of concern about prospects for the US...
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Stocks suffer widespread decline: index falls 47 points
KARACHI, July 15: Stocks on Monday suffered widespread decline on panic selling triggered by fears of law and order situation followed by reports of death penalty to Omar Sheikh, the alleged...
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NBP posts Rs1.1bn after-tax profit
KARACHI, July 15: National Bank of Pakistan (NBP)—Pakistan’s largest commercial bank—announced after-tax profit at Rs1.1 billion for the year ended December 31, 2001 and cash dividend of Rs1.25 per share, both...
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KPT plans 5 pipelines for liquid products
KARACHI, July 15: Karachi Port Trust (KPT) has planned five pipelines — three for chemicals and two for edible oil — to ensure efficient liquid product transmittal until Oil Pier (OP-II)...
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Pakistan exports 1.065m tons of molasses
KARACHI, July 15: The country has exported around 1.065 million tons of molasses up to June 30, 2002, fetching around $40 million, official sources said on Monday....
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US mulls less dependence on Gulf oil
RIYADH, July 15: The United States is actively pursuing a new energy security policy, so as to considerably lower its dependence on the oil rich states of the Gulf and diversify...
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TCP tender curtails buying on cotton market
KARACHI, July 15: Trading on the cotton market on Monday resumed on a relatively dull note as spinners curtailed their buying from the ginners in the backdrop of another tender floated...
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Livestock sector gets Rs415m allocation
ISLAMABAD, July 15: The federal government has allocated Rs415 million to strengthen the livestock economy under a multi-dimensional package to be completed over a period of three years....
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Pakistan, Russia business forum
KARACHI, July 15: Minister of state and chairman Export Promotion Bureau Tariq Ikram on Monday suggested that Pakistan-Russia business forum should be set-up for the promotion of trade between the two...
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Karachi Port operations
KARACHI, July 15: Five ships carrying containers, chemicals and crude oil are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Palm oil prices
KUALA LUMPUR, July 15: Malaysian palm oil futures ended limit-up on Monday, with overall volume touching an all-time high of nearly 10,000 lots, as players took inspiration from gains in CBOT...
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US-Russia trade ties
MOSCOW, July 15: Eduardo Aguirre, vice chairman of the Export-Import Bank of the United States, began a week of talks with top Russian officials on Monday aimed at boosting economic ties...
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Asian fuel oil prices up
SINGAPORE, July 15: Singapore physical fuel oil prices extended gains on Monday, supported by a rally in benchmark crude oil prices, low local inventories and aggressive bids by oil major BP...
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Kenyan Tea prices fall
MOMBASA, July 15: Kenyan tea prices edged lower for a second week on Monday amid a fall in demand as key buyers from Egypt, who are holding comfortable stocks, stayed on...
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$8 million outflow of portfolio investment in June
KARACHI, July 15: Foreign portfolio investment recorded net outflow of Rs470 million or around $8 million in June, figures released by the KSE on Monday showed....
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PSO, ARL sign MoU for Rs10bn pipeline
KARACHI, July 15: Pakistan State Oil (PSO) and Attock Refinery Limited (ARL) on Monday signed a memorandum of understanding (MoU) on the Machike Taru Jabba Pipeline Project....
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