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August 20, 2002 Tuesday Jamadi-us-Saani 10, 1423 Duty relief for CNG unit may be withdrawn KARACHI, Aug 19: The government is actively considering to impose five to 10 per cent import duty on compressed natural gas (CNG) cylander and compressor as the exemption on these items... KSE defies SECP order on board restructuring KARACHI, Aug 19: A defiant statement issued by Karachi Stock Exchange at the end of a heated meeting of board of directors on Monday, signified that the stock brokers were unwilling... Govt to encourage sugarbeet plants ISLAMABAD, Aug 19: The government will encourage setting up of 2,000 to 2,500 tons capacity beet processing plants to produce sugar from sugarbeet.... Experts suggest amendment in Income Tax Law KARACHI, Aug 19: Tax experts have suggested that the CBR should be asked to amend the Income Tax Law to reduce the high impact of tax on a salary marginally exceeding... Islamic TFCs KARACHI, Aug 19: The Islamic Chamber of Commerce and Industry has helped the Modaraba Association of Pakistan to attend the private sector meeting of OIC Countries to be held at Sharjah... Widespread gains push index 12.58 points higher KARACHI, Aug 19: Stocks on Monday showed widespread gains as investors covered positions in most of the pivotals, allaying fears of widely speculated showdown between the apex regulatory body and the... Govt assures IMF of meeting targets ISLAMABAD, Aug 19: The government has assured the IMF that all the budgetary targets will be maintained during 2002-03 but without imposing any new tax.... Remittances rise to $307 million in July Karachi, Aug 19: Gross home remittances rose to $307.4 million in July 2002 up from $ 84.7 million in July 2001.... Reckitt Benckiser profit KARACHI, Aug 19: Reckitt Benckiser Pakistan posted pre-tax profit at Rs118.3 million for the six months ended June 30, 2002 against Rs50.9 million in the similar half term of 2001. After... NBP retail banking on 8 products by year-end KARACHI, Aug 19: National Bank of Pakistan will start retail banking on a large scale by the end of this year.... Cotton market resists fresh decline KARACHI, Aug 19: Cotton market on Monday resisted fresh decline as ginners held on to their positions rather than selling at the lower rates, halting the last couple of sessions downward... Malaysia sees ’03 debut for Islamic gold trade system KUALA LUMPUR, Aug 19: Malaysia and a handful of other Islamic countries plan to bypass western currencies and use gold to settle bilateral trade from 2003, a senior Malaysian government official... HK jobless rate rises to new record HONG KONG, Aug 19: Hong Kong’s jobless rate rose to a new record of 7.8 per cent in the three months to July as fresh graduates and school leavers poured into... Iran mulls crude oil sales in euro DUBAI, Aug 19: US scrutiny of global banking since September 11 has spooked Iran into mulling a switch from US dollars to euros for crude oil sales, its primary revenue earner,... Euro bonds yields up sharply LONDON, Aug 19: Euro zone government bonds yields rose sharply on Monday, with 10-year yields hitting their highest level in more than a week as a strong rebound in stock markets... ‘Best presented accounts’ awards KARACHI, Aug 19: To honour listed companies that come up with the 2001 annual accounts that were best in information, style, content and colour, a “Best Presented Accounts Awards” ceremony will... Yen lower against dollar in London LONDON, Aug 19: The yen lurched lower against the dollar on Monday after US ratings agency Standard and Poor’s warned that Japan’s debt ratings may be cut if economic reform was... European stocks rally LONDON, Aug 19: Vivendi Universal led European shares to their best levels in a month on Monday as the media group took steps to cut it groaning debt, but drug maker... Contractors demand compensation LAHORE, Aug 19: The Federation of Punjab Contractors Associations (FPCA) has demanded of the government to give compensation to the contractors in proportionate to the price hike to complete the ongoing... More NBP branches on LTU pool demanded KARACHI, Aug 19: Acting Chairman of SITE Association of Industry, M. Junaid Nawab, has demanded of the government to bring more National Bank branches on Large Taxpayer Unit (LTU) pool for...

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