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August 31, 2002 Saturday Jamadi-us-Saani 21, 1423 Lucky Cement switches to coal-fired plant KARACHI, Aug 30: Lucky Cement Limited announced on Friday that its coal firing plant had been commissioned, switching production to 100 per cent coal. The company was the third, after Pioneer... OMCs to regulate diesel prices KARACHI, Aug 30: The Oil Companies Advisory Committee (OCAC) will now hand over the process of regulating diesel prices to the oil marketing companies (OMCs) from Saturday under the government’s deregulation... Export finance rate unchanged at 8pc KARACHI, Aug 30: Exporters will continue to get export finance at 8 per cent markup for the sixth consecutive month in September 2002 as the State Bank has left unchanged at... NWFP, Wapda at loggerheads over hydel profits PESHAWAR, Aug 30: Differences between NWFP and Water and Power Development Authority (Wapda) have resurfaced once again over the contentious net hydel profit issue as the Authority has disputed the provincial... Number of bank returns cut to 28 KARACHI, Aug 30: The State Bank has cut down the number of the reports and returns to be submitted by the banks and non-bank financial institutions (NBFIs) from 60 to 28.... WTO gives EU go ahead for $4bn curbs on US: Steel dispute GENEVA, Aug 30: The World Trade Organization on Friday gave the European Union a green light to consider sanctions worth a record four billion dollars against the United States until Washington... KSE-100 index recomposed KARACHI, Aug 30: The Board of Directors of the Karachi Stock Exchange in its meeting on August 28, reviewed and approved recomposition of the KSE-100 index, based on the Recomposition Rules... Textile industry urged to buy US, EU brand names KARACHI, Aug 30: Commerce Minister Abdul Razak Dawood on Friday advised textile tycoons to buy and acquire the US and European brand names as well as distribution companies to meet the... Soyabean oil import ISLAMABAD, Aug 30: The US Department of Agriculture’s Commodity Credit Corporation will offer $16 million to Pakistan for the import of 37,800 tons of soyabean oil, says a press release.... Japan drops retaliation plan on US steel curbs TOKYO, Aug 30: Japan dropped plans on Friday to retaliate against US curbs on steel imports imposed in March, giving credit to a series of recent steps by Washington to whittle... Stocks gain 24 points on speculative buying in PTCL, Hubco KARACHI, Aug 30: Stocks on Friday showed fresh widespread gains as investors continued to build-up long positions on selected counters aided by perceptions of higher dividend by PTCL and Hub-Power.... Global fund managers halt US stock exit LONDON, Aug 30: Global fund managers halted their retreat out of US equities but yanked money out of the euro zone against a backdrop of uncertainty about the worldwide economic outlook,... KSE decision a positive sign: SECP: 100pc ownership ISLAMABAD, Aug 30: Securities and Exchange Commission of Pakistan chairman Khalid A. Mirza has welcomed the decision by the Karachi Stock Exchange to allow foreign investors to hold 100 per cent... Japan’s industrial output falls TOKYO, Aug 30: Japan’s factory output fell 0.4 per cent in July from a month earlier, marking the second straight month of declines, due to a brief slump in electrical machinery,... Oil, gas reforms fetch Rs25 billion ISLAMABAD, Aug 30: The oil and gas sector, due to major reforms introduced during the last two and half years, has so far benefitted the economy to the tune of Rs25... BoE sees gradual world recovery LONDON, Aug 30: Bank of England Governor Sir Edward George on Thursday moved to calm volatile financial markets by predicting a gradual recovery for the global economy from its recent woes.... Ginners indulge in renewed selling KARACHI, Aug 30: Cotton prices on Friday eased further as ginners were not inclined to hold on to their surplus stocks and indulged in renewed selling in a bid to keep... Sales rise WIESBADEN, Aug 30: Wholesalers in Germany reported a tentative increase in business in July, data published by the Federal Statistics Office showed on Friday.... Indian economic growth seen at 5.5pc WASHINGTON, Aug 30: The Indian economy is set to grow 5.5 per cent in the fiscal year to March 31, 2003, the IMF forecast on Thursday, but the country’s debt load... Dollar firms vs major currencies LONDON, Aug 30: The dollar firmed versus major currencies, helped by a stronger-than-expected rise in a US purchasing managers index for August, dealers said....

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