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| August 11, 2002 | Sunday | Jamadi-us-Saani 1, 1423 |
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Loan linked to millers financial strength: US textile machinery
KARACHI, Aug 10: Textile operators in Pakistan will be able to get loans from the banks on strength of their balance sheets for import of reconditioned machinery and equipment from North... 
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Major transactions on PC agenda for next month
ISLAMABAD, Aug 10: Privatization Commission is all set to dispose of a heavy privatization agenda this month and next month to earn substantial funds....
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Foreign equity in exchange cos not in sight
KARACHI, Aug 10: No foreign party has so far shown interest in setting up foreign exchange company as a joint venture with local banks or money changers....
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Only efficient ginnery to survive: Razak
KARACHI, Aug 10: Minister for Commerce Abdul Razak Dawood while terming the ginning sector as the weakest link in the entire industrial cycle of textile has warned that time has come...
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Conditional exemption
ISLAMABAD, Aug 10: The government has notified conditional exemption of customs duty on import of plant, machinery and equipment not manufactured locally....
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HBL sell-off attracts local, foreign investors
KARACHI, Aug 10: State-run Habib Bank is a “jewel” that has been offered for sale as Dr Ishrat Husain, Governor of State Bank, puts it and sources say it has attracted...
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Badla rates edge higher
KARACHI, Aug 10: Thanks to improved volumes, the weighted average ‘badla’ (Carryover trade — COT) rates edged higher to 9.4 per cent on Friday, reflecting recovery from its historic low of...
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Reserves soon to touch $8bn mark
KARACHI, Aug 10: Minister for Finance Shaukat Aziz on Saturday said that foreign exchange reserves have touched $7.1 billion, and the current account is surplus for the last several months, which...
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Special cash reserve cut to 15pc
KARACHI, Aug 10: The State Bank has lowered the special cash reserves on new foreign currency accounts from 20 to 15 per cent. But it has kept intact the mandatory reserves...
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PCB Islamic banking counters
LAHORE, Aug 10: PICIC Commercial Bank (PCB), a subsidiary of Pakistan Industrial Credit and Investment Corporation, plans to set up Islamic banking counters at its branches by the end of this...
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‘Schroeder open to tax amnesty idea’
BERLIN, Aug 10: Chancellor Gerhard Schroeder was quoted on Saturday saying he could back an amnesty to attract illegal savings held abroad back to Germany, a move that could hit bank...
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Oil prices up as fuel demand rise seen
NEW YORK, Aug 10: Oil prices edged higher on Friday, helped by an International Energy Agency forecast for improved oil demand and by news a major US refiner will to keep...
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Euro pushes Dutch inflation up
AMSTERDAM, Aug 10: The introduction of euro notes and coins at the start of the year has pushed Dutch inflation up by 0.6 percentage point, double the previously expected level, Dutch...
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US blue-chip stocks end a bit higher
NEW YORK, Aug 10: Blue-chip stocks shrugged off early losses to rack up their fourth day of gains on Friday, but technology stocks slid as a sales warning from data storage...
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CBOT rice higher
CHICAGO, Aug 10: Chicago Board of Trade rough rice futures ended firm on Friday after this week’s losses, with floor traders noting technical support had been found after the heavy-volume speculative...
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Customs duty on 20 items slashed
ISLAMABAD, Aug 10: The government on Saturday reduced the customs duty on about 20 items to do away with various anomalies of budget 2002-03....
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Foreign investments in S. Arabia top $12bn
RIYADH, Aug 10: Foreign investments in Saudi Arabia have exceeded $12 billion in the past two years, the Saudi Arabian General Investment Authority (SAGIA) said in a statement on Saturday....
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Greenspan marks 15 years at the helm
WASHINGTON, Aug 10: Widely considered to be at least the second most powerful man in the United States, Alan Greenspan celebrates Sunday 15 years at the helm of the Federal Reserve....
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Gold climbs amid talk of producer buying
LONDON, Aug 10: Gold prices rode up above $310 an ounce this week on talk of buying by an Australian producer and speculation that policymakers at the US Federal Reserve might...
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Cotton market maintains bullish outlook
KARACHI, Aug 10: Cotton market on Saturday maintained bullish outlook as ginners and spinners remained locked in a battle of wits over the current price flare-up, but it continues to be...
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