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August 14, 2002 Wednesday Jamadi-us-Saani 4, 1423 Several groups vying to be king of country’s financial sector KARACHI, Aug 13: First Leasing Corporation Limited told the stock exchange on Tuesday that three nominee directors of Pak Libya Holding Company had been replaced by nominees of the Crescent group.... TCP may ask bidder to raise price: $108.17 highest bid for wheat KARACHI, Aug 13: The Trading Corporation of Pakistan has received a highest bid of $108.17 per ton for export of 100,000 tons of wheat. In total 13 bids were received. The... CPI spirals by 3.97pc in July ISLAMABAD, Aug 13: Inflation based on Consumer Price Index (CPI) spiralled by 3.97 per cent in July 2002, the highest increase for that month since 2000.... Exporters for more access to FCY loans KARACHI, Aug 13: Whereas banks say that credit disbursement in foreign currency is picking up in Pakistan, leading exporters complain that the banks are just too choosy about the borrowers.... Withholding tax reduced ISLAMABAD, Aug 13: The Central Board of Revenue has said that the rate of withholding tax was reduced from 30 per cent to 20 per cent on profit arising on securities... KSE index finishes with clipped gains KARACHI, Aug 13: Stocks on Tuesday failed to sustain the early run-up and ended with clipped gains followed by profit-selling ahead of the Independence Day holiday on Wednesday but the underlying... Spices prices fall by 8pc KARACHI, Aug 13: The wholesale prices of various spices have started showing a drop by three to eight per cent following government’s decision of cutting import duties to 10 per cent... Prices ease on cotton market KARACHI, Aug 13: Cotton prices on Tuesday eased modestly as leading spinners remained busy with the tender work against the TCP sale offer for the spinners and the textile mills.... NWFP received less amount from FDP in 2001-02 PESHAWAR, Aug 13: The Central Board of Revenue’s failure to meet the repeatedly downward revised revenue target during the last financial year did not allow the Centre to release funds to... NZ cooperation in textile sought ISLAMABAD, Aug 13: Commerce Minister Abdul Razak Dawood has sought New Zealand collaboration in textile sector.... Brokers control done away with: Bourses management ISLAMABAD, Aug 13: A new directive issued by the Securities and Exchange Commission of Pakistan on Tuesday will do away with the exclusive control of the stock brokers over the management... Withholding tax CBR advice to banks ISLAMABAD, Aug 13: The Central Board of Revenue has asked all the commercial and public banks and financial institutions not to detect withholding tax on transfer of funds effective from July... Karachi Port operations KARACHI, Aug 13: Berthing activity at the Karachi port was fairly active as the port agencies made arrangements to clear the inward rush of foreign flag vessels including those whose arrivals... Banks asked to send statements in time KARACHI, Aug 13: The State Bank has advised all banks to dispatch the statement of accounts to their customers through courier services.... Dollar steady against leading currencies LONDON, Aug 13: The dollar held steady against other leading currencies on Tuesday ahead of a US interest rate announcement and a slew of economic data from the world’s largest economy.... Malaysian palm oil higher KUALA LUMPUR, Aug 13: Malaysia’s palm oil futures were firm at the close on Tuesday, aided by the US Department of Agriculture’s market-friendly data on 2002 soy output, traders said.... Gold prices trapped in range LONDON, Aug 13: Gold was trapped in a narrow range in the European session on Tuesday ahead of an interest rate decision by the US Federal Reserve which would shape short-term... GI applies for exchange company KARACHI, Aug 13: Galaxy International has applied for setting up a foreign exchange company.... EBP becomes CIBJO member KARACHI, Aug 13: The Export Promotion Bureau has become the member of CIBJO, an international confederation of jewellery, silverware, diamonds, pearls and stones, based in Italy.... PSO wins Wapda fuel tender KARACHI, Aug 13: Pakistan State Oil (PSO) has won the first ever international tender for fuel oil, floated by the Wapda, under which the company will supply two loads of 55,000...

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