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| July 27, 2002 | Saturday | Jamadi-ul-Awwal 16,1423 |
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Govt to hire fund managers: Productive use of forex
KARACHI, July 26: The government is consulting triple ‘A’ rated international fund managers for the productive utilization of its foreign exchange reserves now close to 7 billion dollars.... 
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PTCL’s dues from WorldCom may have been blocked
KARACHI, July 26: Pakistan Telecommunication Company Limited (PTCL) is still tight-lipped on the sum of money due from WorldCom, but analysts suggest that around $15 million may have been blocked. International...
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Dirham/dollar buying for gold imports
KARACHI, July 26: Money changers say they have sold around 25 million dirham in the last three days as the demand for the UAE currency shot up after the government allowed...
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Pakistan to export trucks to Bangladesh
KARACHI, July 26: A Pakistani truck assembling company Adam Motor Co Ltd will export 200 to 300 locally assembled trucks to Bangladesh....
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EU maintains duties on farm, textile items
GENEVA, July 26: The World Trade Organization (WTO) said on Friday that the European Union’s trade policy had largely maintained open markets with the exception of agriculture products and textiles, areas...
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US, Japan clash over WTO farm proposals
NARA (Japan), July 26: Japan on Friday said it was “not realistic” for the United States to expect the World Trade Organization to agree to its controversial plan to slash global...
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Leasing finance for durables on cards
KARACHI, July 26: The Federal Commerce and Industries Minister Abdul Razak Dawood is exploring leasing finance arrangement for marketing of a number of durables that include televisions, air conditioners, washing machines,...
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TCP makes counter offers to lint bidders
KARACHI, July 26: The price evaluation committee of the Trading Corporation of Pakistan (TCP) has given counter offers to the bidders for local sale and export of cotton, says a TCP...
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Bears rule stock market: index falls by 7 points
KARACHI, July 26: Stocks on Friday lacked normal trading interest as investors were not inclined to make fresh commitments at the lower levels apparently awaiting the advent of institutional buying....
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NWFP fails to expand pension fund
PESHAWAR, July 26: Financial crisis is hampering expansion of NWFP government pension fund, which was established some five to six years back to cater to the needs of the growing annual...
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Prices move up on cotton market
KARACHI, July 26: Cotton market on Friday maintained a firm trend as higher bids received by the TCP against its local and foreign tenders boosted local prices by Rs50 per maund....
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Foreign claims fall to $50bn, says BIS: Argentina crisis
BASEL, July 26: Argentina’s financial crisis appeared to have few knock-on effects on banking elsewhere in the first quarter of 2002, the Bank for International Settlements (BIS) said on Friday....
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SECP penalizes companies
ISLAMABAD, July 26: Securities and Exchange Commission of Pakistan (SEC) has fined the Chief Executive of Essa Cement Industries Limited under the Companies for lapses related to audit under Audit of...
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Leather garments enjoy credibility
KARACHI, July 26: Federal Finance Minister Shaukat Aziz on Friday underlined the need of striking a balance in the promotion of the leather and leather garments’ sectors to ensure better economic...
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Nomura suffers sharp pre-tax profit fall
TOKYO, July 26: Japan’s largest brokerage Nomura Holdings Inc. said on Friday its pre-tax profit was more than halved in the first quarter to June....
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Gold prices hit 3-month low
LONDON, July 26: Gold limped to its lowest level in three months on Friday, spurned by nervous investors and beaten back by a stronger dollar....
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Malaysian palm oil rebounds
KUALA LUMPUR, July 26: Malaysian crude palm oil futures rebounded on weekend short-covering on Friday but the short-term outlook remained hazy due to slow consumer demand, traders said....
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Tea prices fall in Kolkata
KOLKATA, July 26: Prices of leaf grade CTC and orthodox teas fell for the third week running at the weekly Kolkata auction, traders said on Friday....
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‘US not pressuring Nigeria to quit Opec’
ABUJA, July 26: Washington’s pointman on Africa on Thursday insisted that his government is not pressuring Nigeria to quit the Opec oil cartel, despite allegations to the contrary from a senior...
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Karachi Port operations
KARACHI, July 26: Five ships carrying general cargo and containers are expected to arrive at the outer anchorage on Saturday, according to KPT sources....
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