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July 31, 2002 Wednesday Jamadi-ul-Awwal 20,1423 SBP invites applications for exchange companies KARACHI, July 30: The State Bank of Pakistan has set in a process of unification of foreign exchange market, and started calling on Tuesday the applications for setting up exchange companies... Move to liberalize consumer finance KARACHI, July 30: The State Bank has allowed all banks to give loans to general public for purchase of consumer durables (like televisions and refrigerators etc.).... NWFP gets $95m WB loan under SAC PESHAWAR, July 30: The World Bank has released over $95m loan to the North West Frontier Province (NWFP) from its Structural Adjustment Credit (SAC) facility, according to official sources.... East-West collection rises to Rs31.35bn KARACHI, July 30: The Sales Tax Collectorates, East and West, Karachi, collected Rs31.357 billion during last fiscal ending June 30, 2002, compared to Rs28.107 billion a year ago. The ST collection... Saindak to start production by year-end ISLAMABAD, July 30: The country’s one of the mega projects - Saindak Copper-Gold project in Balochistan - will start much awaited commercial production by the end of this year.... PSO, Wapda sign accord KARACHI, July 30: Pakistan State Oil (PSO) has signed an agreement with the Water and Power Development Authority (Wapda) for handling and storage of fuel oil.... European stocks slide LONDON, July 30: Stocks fell back throughout Europe on Tuesday as weak economic data on both sides of the Atlantic raised doubts about the durability of the recent revival in the... Pakistan, BD set up business council DHAKA, July 30: Chambers of Commerce and Industries of Pakistan and Bangladesh on Tuesday signed Memorandum of Understanding (MOU) to promote trade between the two countries.... Late selling clips gains on stock market KARACHI, July 30: Leading blue chips on Tuesday finished with clipped gains after the initial attempted rally fulled by interim dividends failed to get through in the absence of strong follow-up... Bush signs law to crack down on corporate crooks WASHINGTON, July 30: Hoping to restore investor confidence after a wave of boardroom scandals, US President George W. Bush on Tuesday vowed “hard time” instead of “easy money” for corporate crooks... Bullish trend on cotton market KARACHI, July 30: Bullish conditions were witnessed on the cotton market on Tuesday as ginners held on to their positions anticipating further increase in prices owing to pressure on ready supplies.... Demand for export duty on leather resented KARACHI, July 30: Pakistan Tanners Association (PTA) has opposed the demand of the Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA) for imposing 20 per cent duty on export of semi-finished... NWFP industry asked to adopt QMS PESHAWAR, July 30: NWFP is more conducive for implementing Quality Management System, but unfortunately industrialists here are reluctant to accept it because of communication gape.... Mines and Minerals department set up QUETTA, July 30: The Balochistan government has set up Mines and Minerals department for the development of mineral resources in the province.... Pakistan, S. Lanka FTA to expand trade KARACHI, July 30: Pakistan and Sri Lanka will sign Free Trade Agreement (FTA) during the official visit of President Pervez Musharraf to Colombo beginning on Wednesday.... SECP fines 7 companies ISLAMABAD, July 30: Seven companies have been penalized by the Securities and Exchange Commission of Pakistan (SECP) allegedly for failure to prepare and transmit their half-yearly accounts on time.... Pound off 2-month peak vs euro LONDON, July 30: Sterling came off its two-month peak versus the euro on Tuesday after a key survey showing a slump in British consumer confidence reinforced expectations the Bank of England... Malaysian palm oil market firms KUALA LUMPUR, July 30: Malaysia’s crude palm oil futures firmed on short covering as players prayed for fresh purchases by main buyer India, where poor rains are likely to trim oilseed... Tobacco cos asked to boost exports PESHAWAR, July 30: NWFP Governor Syed Iftikhar Hussain Shah has urged the tobacco companies to focus on increasing the export of tobacco products to earn maximum returns for themselves and for... Karachi Port operations KARACHI, July 30: Six vessels carrying 4,000 containers and other goods are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....

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