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September 6, 2002 Friday Jamadi-us-Saani27,1423 UBL goes to Abu Dhabi group: Rs12.35bn deal struck ISLAMABAD, Sept 5: The Consortium of Abu Dhabi & Bestway Group on Thursday succeeded in acquiring majority shares of the United Bank Limited (UBL) by increasing their bid from Rs12.3 billion... July-Aug deficit at $265m ISLAMABAD, Sept 5: Pakistan suffered a trade deficit of $265.21 million during the first two months of fiscal 2002-03, down 29.38 per cent from the same period of previous year.... Banks run short of liquidity KARACHI, Sept 5: The banking system on Thursday resorted to Rs9 billion discounting from the State Bank discount window to overcome liquidity shortage.... Thirteen china tableware making units closed ISLAMABAD, Sept 5: Thirteen china tableware manufacturing industries in Pakistan have been closed, while at least three others are operating at less than 40 per cent capacity mainly due to dumping,... 4 foreign firms prequalified for Thar Coal study ISLAMABAD, Sept 5: The government has prequalified four foreign firms for award of Rs198 million contract to conduct a feasibility study of Thar Coal deposits in Sindh province.... Silos: PQA issues allotment letters KARACHI, Sept 5: The Port Qasim Authority (PQA) has issued allotment letters to two private sector companies for setting up dedicated storage and handling of grain silos on most modern lines.... Molasses exporters seek ST exemption KARACHI, Sept 5: Molasses exporters are seeking exemption from sales tax because it blocks huge amount of around Rs337.50 million on export of about 1.5 million tons of molasses per annum.... Hub Power Company KARACHI, Sept 5: Hub Power Company Limited (Hubco) announced final dividend at Rs3.60 per share (36 per cent), which fell slightly short of market’s expectations of Rs4 (40 per cent). The... Stocks off highs on below expectation Hub-Power dividend KARACHI, Sept 5: Stocks on Thursday finished on a mixed note after earlier giving highly erratic performance in the backdrop of final dividend by Hub-Power as the late burst of profit-selling... Drawback rates on textiles reduced ISLAMABAD, Sept 5: The Central Board of Revenue(CBR) has reduced the duty drawback rates on a number of textile items, but increased on polyester staple fibre. CBR made amendments in the... BoE holds interest rates at 4pc LONDON, Sept 5: The Bank of England decided on Thursday to hold interest rates steady at a 38-year low of four per cent amid fears that equity market fragility could trickle... Prices ease as ginners indulge in hasty selling KARACHI, Sept 5: Cotton market on Thursday remained under pressure as ginners continued to indulge in near-panic selling amid fears of further decline in lint prices.... CBR agrees to refund 15pc GST on drugs ISLAMABAD, Sept 5: The tax authorities have in principle agreed with the representatives of the pharmaceutical sector to chalk out modalities for refunding the amount accruing on account of 15 per... Prgmea plea LAHORE, Sept 5: The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has called upon the commerce ministry to allow over-programming of textile quota categories for the EU to exporters during... ABL profit KARACHI, Sept 5: Allied Bank Limited has earned operating profit of Rs632 million during the half-year ended on June 30, 2002, up 13.5 per cent over the profit earned in a... Tariff guide ISLAMABAD, Sept 5: The Central Board of Revenue (CBR) has reduced the price of Pakistan Customs Tariff guide from Rs2,200 to Rs990 for both volumes.... Submarine optic cable system KARACHI, Sept 5: Pakistan Telecommunication Company Limited and 12 other international telecom carriers have signed a Memorandum of understanding (MoU) to jointly work on the construction of a new submarine cable... Karachi Port operations KARACHI, Sept 5: Four ships carrying DAP fertilizer and containers are due to arrive at the outer anchorage on Friday, according to KPT sources.... Star Trac KARACHI, Sept 5: Askari Master Card and Star Technologies signed an alliance recently allowing master card holders a special discount of 22pc on purchase of Star Trac system, says a press... West backs free trade for farmers NAIROBI, Sept 5: The United States and the European Union are committed to advancing free trade in agricultural produce, the new head of the World Trade Organisation (WTO) said on Thursday....

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