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September 1, 2002 Sunday Jamadi-us-Saani 22,1423 Mortgage financing being encouraged: SBP LAHORE, Aug 31: The State Bank Governor Dr Ishrat Hussain on Saturday said the banks were being encouraged to enter into “mortgage financing,” and in this regard the SBP was going... OMCs raise diesel prices by 2 to 4.35pc KARACHI, Aug 31: Three leading oil marketing companies (OMCs) have increased the prices of high speed diesel (HSD) by 2 to 4.35 per cent. It was the first revision by the... Petrol, kerosene prices increased KARACHI, Aug 31: The Oil Companies Advisory Committee (OCAC) on Saturday increased the prices of all petroleum products by 1.02 per cent to 5.48 per cent. The new prices will be... CBR replaces SRO417 ISLAMABAD, Aug 31: The Central Board of Revenue (CBR) on Saturday issued an SRO 575(1) 2002 replacing SRO 417(1) aimed at facilitating manufacturers-cum-exporters to ensure timely payment of their claim refunds... IDB facility for small exporters KARACHI, Aug 31: Head of a two-member mission of the Islamic Development Bank Mohammad Sayef Uddin said on Friday that IDB will make $125 million credit facility available to the small... CBR evolves reforms strategy: Rs29bn collected in August ISLAMABAD, Aug 31: The Central Board of Revenue (CBR) has evolved a comprehensive reforms strategy to facilitate the taxpayers, enhance revenue collection and expand the tax net for the economic growth... PIA eyes Rs100bn annual income: 10-year plan LAHORE, Aug 31: The Pakistan International Airline plans to take its annual income to Rs100 billion from the present Rs45 billion during the next 10 years.... Badla investment up to Rs7.3bn KARACHI, Aug 31: Badla or carryover trade (COT) investment at the Karachi and Lahore stock exchanges together totalled to Rs7.3 billion on Friday, reflecting a crucial new level of weak holdings,... Issue may be resolved on Tuesday: GST-paid drugs KARACHI, Aug 31: The issue, confronting the pharma industry and trade, owing to government’s refusal to refund the GST on sales tax paid stocks, is expected to be resolved on September... Option for return to state-led development KARACHI, Aug 31: Discarding conventional wisdom pursued by the policymakers, independent economists now advocate “a full-fledged return to state-led development” for a interim period of two years.... Pakistan 5th largest producer of dates ISLAMABAD, Aug 31: Pakistan follows Iran, Egypt, Iraq and Saudi Arabia on the list of the top dates producing countries with 11 per cent share of the global production of dates.... Competition returns, largesse fades on Wall Street NEW YORK, Aug 31: Wall Street’s brief affair with benevolence is over. New York’s top investment banks lent small rivals a hand by donating desks and handing them deals after the... Cambodia to get $286m ADB loans from 2003 to 2005 MANILA, Aug 31: Cambodia will get $286 million in loans from the Asian Development Bank from 2003 to 2005 under the institution’s newest country strategy, the bank said on Saturday.... New York cotton futures lower NEW YORK, Aug 31: NY cotton futures settled marginally softer Friday in quiet business, with most operators having taken off early for the long holiday weekend.... COMEX gold prices fall NEW YORK, Aug 31: COMEX gold settled lower on Friday after a brief bout of profit-taking knocked if off its earlier perch, and traders said some players with new long positions... Russia increases car import duties to help domestic industry MOSCOW, Aug 31: Russia is attempting to boost its stagnant domestic auto industry by slapping a sharp increase on the duties levied on most imported second-hand cars, media reported on Saturday.... Dollar rises on US spending NEW YORK, Aug 31: The dollar rose on Friday as traders ignored a survey showing US consumers were still unhappy and instead saw hope in robust consumer spending and positive manufacturing... China results season ends, more firms post losses SHANGHAI, Aug 31: China’s interim reporting season ended on Saturday with about one out of every seven companies listed on the Shanghai and Shenzhen bourses in the red, state newspapers said... US financial firms need disaster recovery plans WASHINGTON, Aug 31: As the first anniversary of the Sept. 11 attacks nears, US financial regulators on Friday said some firms should create disaster recovery plans with an eye toward potential... US downplays $4 billion WTO sanctions ruling WASHINGTON, Aug 31: The United States on Friday said it was “disappointed” with a World Trade Organization ruling that opens the door for the European Union to impose sanctions on $4...

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