Revenue at import stage rises to Rs83bn
KARACHI, July 27: Collection of revenue at import stage in the last fiscal ending June 30, 2002, rose by 2.5 per cent to Rs83 billion as against Rs81 billion collected a...
Platinum Bank challenges Nostro account freezing
KARACHI, July 27: The management of Platinum Commercial Bank Limited has approached the State Bank of Pakistan to obtain a key certificate to use it to get its Nostro account reactivated...
Refund claims to be cleared in 48 hours: Shaukat
KARACHI, July 27: Minister for Finance Shaukat Aziz has assured to clear outstanding sales tax refund claims within 48 hours after receipt and also resolve the duty drawback rates issue within...
DTT in affiliation pact with Yousuf Adil: Accountancy
KARACHI, July 27: Deloitte Touche Tohmatsu (DTT) — one of world’s remaining ‘big four’ accountancy firms — has entered into an affiliation agreement with M. Yousuf Adil Saleem & Co. —...
Steps being taken to check smuggling
KARACHI, July 27: Federal Finance Minister, Shaukat Aziz, on Saturday said the increasing foreign reserves of the country have direct positive bearing on the common man....
Committee to chalk out plan for sugar export
KARACHI, July 27: Finance Minister Shaukat Aziz has agreed to set up a high-powered committee to chalk out a viable plan for export of surplus sugar....
SPI rises by 0.31pc
ISLAMABAD, July 27: Sensitive Price Indicator rose by 0.31 per cent during the week ending July 25 as compared to previous week, according to the price data released by the Federal...
Cotton Act discussed
KARACHI, July 27: A high level meeting on Saturday discussed production of clean cotton and enforcement of Cotton Control Act in the country....
TCP accepts local mills bids for 36,500 bales
KARACHI, July 27: The price evaluation committee of Trading Corporation of Pakistan (TCP) on Saturday accepted the bids of local mills for 30,500 bales and foreign bids for 6,000 bales against...
US House passes trade bill
WASHINGTON, July 27: The US House of Representatives voted early on Saturday to give President George W. Bush the power to negotiate broad new trade agreements, moving one step closer to...
US defends WTO farm proposal
NARA, Japan, July 27: United States Agriculture Secretary Ann Veneman defended a US proposal to slash global farm subsidies as two days of talks between global farm powers ended here on...
Dollar surges ahead of euro
NEW YORK, July 27: The dollar jumped ahead of the euro on Friday as a surprise upward revision to the University of Michigan index of consumer sentiment brightened the outlook for...
New York cotton futures lower
NEW YORK, July 27: NY cotton futures closed slightly easier Friday on exceedingly thin local pressure as the market quickly ignored data on annual US cotton consumption, with more sideways action...
Sharp, Sanyo expect higher profits
TOKYO, July 27: Japanese consumer electronics giants Sharp Corp. and Sanyo Electric Co. are expected to see increases in group operating profit for April-June, thanks to strong sales of electronic parts...
Singapore industrial output up by 18pc
SINGAPORE, July 27: Singapore’s all-important manufacturing sector shot up 18.9 per cent in June despite a weak performance in electronics, Economic Development Board (EDB) figures showed Saturday....
WTO gives mixed ruling on US-Canada trade
WASHINGTON, July 27: A World Trade Organization panel has delivered a mixed ruling on a complicated dispute between the United States and Canada over softwood lumber trade, US and Canadian government...
China plans rules on purchases of listed firms
SHANGHAI, July 27: China proposed new rules on Saturday aimed at regulating acquisition of controlling stakes of domestically listed companies as part of its wider reforms of its nascent stock markets....
Brazil real hits new record low
SAO PAULO, July 27: Brazil’s real hit its new all-time low close on Friday after a fresh election poll showed the market’s favourite candidate for president losing ground and no news...
Spinners, mills eye fine cotton lots
KARACHI,July 27: The weekend session on the cotton market finished on a cheerless note as spinners and mills stayed away eyeing fine lots currently under sale by the Trading Corporation of...
Revenue from tourists stood at $92.2m in 2001
ISLAMABAD, July 27: Pakistan’s revenue receipts from the international tourists arrivals during the year 2001 stood at $92.2 million against $6.4 million in 2000, showing an increase of $85.8 million....