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August 28, 2002 Wednesday Jamadi-us-Saani 18,1423 Badla replacement on SECP agenda ISLAMABAD, Aug 27: Khalid A. Mirza, chairman, Securities & Exchange Commission of Pakistan, has said the next goal of the regulator in its efforts to reform the capital market is to... SBP team in Dubai to meet fund managers: $750m investment KARACHI, Aug 27: A three-member team of State Bank officials has left for Dubai to explore the possibility of investing part of its foreign exchange reserves in fixed income securities.... Sindh faces wheat, financial crisis KARACHI, Aug 27: The Sindh government is heading towards a major financial crisis involving Rs10 billion plus and may face acute wheat supply problems during December 2002 to March next year.... First Modaraba enters stock brokering KARACHI, Aug 27: First Equity Modaraba has purchased membership cards at the three stock exchanges and would be the first among 36 modarabas in the country, to venture into the stock... Efforts on to resolve issue of GST-paid drugs KARACHI, Aug 27: Multinational pharmaceutical companies are working actively with the government to find a modality for providing the earliest possible supply of tax exempt medicines to the market in order... Wheat team to visit Egypt, Morocco KARACHI, Aug 27: A wheat delegation comprising private and public sector members will be leaving for Egypt and Morocco next month to explore government-to-government as well as private sector export deals... Islamabad, Kabul discuss FTA ISLAMABAD, Aug 27: Pakistan and Afghanistan have agreed to discuss possibility of signing Free Trade Agreement (FTA) to encourage trade between the two countries.... Use of IAS deferred KARACHI, Aug 27: The State Bank has allowed the banks to defer the implementation of International Accounting Standards (IAS) 39 and 40 till further instructions.... US corporate reports WASHINGTON, Aug 27: Federal regulators on Tuesday unanimously approved rules requiring companies to report information more quickly in an effort to bolster investor confidence in a market hit by accounting scandals.... Index recovers 16 points as market back on rails KARACHI, Aug 27: Heavy institutional buying in selected shares at the fag-end of the Tuesday’s session put the market back on the rails and analysts predict continuation of the current bull-run... NWFP may raise Rs216m through fuel toll tax PESHAWAR, Aug 27: The NWFP government is expecting to raise Rs216 million during the current financial year through its new levy ‘fuel toll tax’, according to official sources.... Karachi Port operations KARACHI, Aug 27: Two ships carrying general cargo and containers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, Aug 27: Three ships, Fair Mary, Al-Fios and Safemarine Victory carrying furnace oil, iron ore and containers were allotted berths at Fotco Oil Terminal, Steel Jetty and Qasim International Containers... Aptma-Punjab members LAHORE, Aug 27: Arif Saeed and Adil Mehmood have been elected unopposed as chairman and senior vice-chairman, respectively, of the All Pakistan Textile Mills Association (Aptma-Punjab).... Pakistan eyes Canadian market TORONTO, Aug 27: There is a great potential of boosting two-way trade between Islamabad and Ottawa, said leader of Pakistani trade delegation which is currently visiting Canada.... US consumer confidence falls NEW YORK, Aug 27: US consumer confidence fell sharply in August as Americans rated current economic conditions as the worst in nearly eight years, according to a report on Tuesday that... Sales rise TOKYO, Aug 27: Nissan Motor Co. Ltd. was the only major Japanese automaker to boost sales at home as new models released earlier in the year convinced thrifty consumers to part... Openings KARACHI, Aug 27: Cathay Pacific Airways on Tuesday announced that it will create 10 initial openings to support the Hong Kong Government-backed “one company one job” initiative to provide work experience... Pound gains vs dollar after poor US data LONDON, Aug 27: The British pound gained against the dollar by late European trade on Tuesday after disappointing US consumer confidence figures pressured the greenback across the board.... European stock markets close higher LONDON, Aug 27: European stock markets pared their sharp gains after weak US consumer confidence data offset the effect of a robust durable goods report and as short-selling in Sweden’s Ericsson...

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