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| August 8, 2002 | Thursday | Jamadi-ul-Awwal 28,1423 |
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President calls governors meeting: Revenue sharing
KARACHI, Aug 7: President General Pervez Musharraf has summoned the governors and the finance ministers of all the four provinces for a meeting on Thursday at Islamabad to discuss the revenue... 
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Cotton import likely due to cut in sowing area
ISLAMABAD, Aug 7: Pakistan may have to import raw cotton again this year due to 8.9 per cent fall in cotton sowing area this year, as compared to 2001-02....
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Revenue target may be revised to Rs450bn
ISLAMABAD, Aug 7: The federal government is likely to revise downward the annual revenue collection target from Rs460.6 billion to around Rs450 billion for the fiscal 2002-03, reliable sources told Dawn....
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IMF cuts global growth forecasts
FRANKFURT, Aug 7: The International Monetary Fund has again cut its growth forecasts for the world’s main economies, the financial daily Boersen-Zeitung reported in its Wednesday edition....
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BoE may keep interest rate on hold
LONDON, Aug 7: The Bank of England warned Wednesday that falling equity prices were likely to dampen economic growth and hinted that interest rates were unlikely to rise in the near...
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Mutual funds capitalization touches Rs26bn
ISLAMABAD, Aug 7: The total market capitalization of the mutual funds sector shot up to Rs26 billion during the fiscal 2001-02, denoting an increase of Rs2 billion in a single year,...
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SBP mops up Rs27.909bn
KARACHI, Aug 7: The State Bank on Wednesday moped up Rs27,909.555 million of Rs28,800 million face value from the sale of Government of Pakistan Market Treasury Bills of six months maturity...
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LCCI for export of surplus sugar
LAHORE, Aug 7: The president, Lahore Chamber of Commerce and Industry (LCCI), Dr. Khalid Javaid Chowdhry has demanded of the federal government to allow export of surplus sugar from the country...
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ICI Pakistan: CORPORATE PROFILE
KARACHI, Aug 7: A day ahead of ICI Pakistan’s half-term results announcements, analysts on Wednesday were issuing almost a consensus forecast of around Rs200 million in net earnings for the company....
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Lull on KSE broken as stocks recover 13 points
KARACHI, Aug 7: Stocks on Wednesday recovered across the board followed by active short-covering at the attractively lower levels, lifting the KSE 100-share index by about 13 points at 1,793.20 and...
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German life insurers agree on rescue pool
FRANKFURT, Aug 7: Germany’s top life insurers Allianz and Munich Re have agreed to back an industry pool to bail out rivals facing solvency problems due to the stock market slump,...
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Cotton prices hit new seasonal peak
KARACHI, Aug 7: Cotton prices on Wednesday hit new seasonal peak as spinners again indulged in panic-buying amid reports of slow arrivals from the lower Sindh ginneries....
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Four fish harbours planned
HUB, Aug 7: The Balochistan Coastal Development Authority (BCDA) has planned to build four new fish harbours along the provincial coast at a cost of Rs240 million....
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22pc notices returned undelivered, says SECP
ISLAMABAD, Aug 7: Securities and Exchange Commission of Pakistan (SECP) has stated that it maintains an up-to-date record of addresses of registered offices of companies and residential address of company directors,...
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Karachi Port operations
KARACHI, Aug 7: Two ships carrying containers and high-speed diesel are due to arrive at the outer anchorage, according to KPT sources....
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Japan to balance tax cuts, increases
TOKYO, Aug 7: Finance Minister Masajuro Shiokawa said on Wednesday Japan would introduce pump-priming tax cuts over the next three years but these would be fully offset by other tax rises...
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Asian stocks rebound
TOKYO, Aug 7: Asian stock markets rebounded on Wednesday in line with a resurgent Wall Street, but the gains were capped by doubts the US comeback is sustainable....
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Palm oil futures end flat
KUALA LUMPUR, Aug 7: Malaysia’s palm oil futures were flat in late trade on Wednesday, lacking fresh impetus to sustain earlier gains as players cautiously waited for August 1-10 exports data...
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Cathay profits up by 7.1 pc
HONG KONG, Aug 7: Hong Kong-based Cathay Pacific Airways Ltd. said on Wednesday its net profit rose a better-than-expected 7.1 per cent in the first half, citing improving market conditions and...
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Dollar remains steady
TOKYO, Aug 7: The dollar was rangebound in Tokyo on Wednesday, generally holding onto recent gains against major currencies supported by a sharp rebound on Wall Street....
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