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September 17, 2002 Tuesday Rajab 9, 1423 Pakistan, US FTA likely ISLAMABAD, Sept 16: Pakistan and the United States are likely to sign a Free Trade Agreement (FTA) soon to provide more concessions to each other’s businessmen.... Rs223m shortfall in NWFP abiana PESHAWAR, Sept 16: The NWFP government has managed to collect only Rs152 under non-tax receipt head of abiana against Rs375 million target for 2001-02, registering a shortfall of Rs223 million, according... PVMA objects dumping decision on tinplate ISLAMABAD, Sept 16: Pakistan Vanaspati Manufacturers Association here on Monday presented objections to National Tariff Commission against its decision in the first case of tinplate dumping under the anti-dumping law.... Road usage tax from January, says Hafeez KARACHI, Sept 16: Sindh Finance Minister Dr Hafeez Shaikh on Monday said that the road usage tax, replacing motor vehicle tax will be implemented from January 1, 2003 in the country.... Index down by 15.60 points on lack of institutional support KARACHI, Sept 16: After opening higher, stocks on Monday finished with an extended decline owing partly because of lack of strong institutional support and partly to renewed selling.... Rs1.418bn retrieved in 2001-02: Audit of IT cases ISLAMABAD, Sept 16: The tax authorities have retrieved Rs1.418 billion during 2001-02 through audits of income tax cases against Rs1.089 billion over the corresponding year, an increase of 30 per cent.... First securitization transaction completed KARACHI, Sept 16: Trust Investment Bank Limited announced the completion of Rs100 million securitization of lease receivables pertaining to lease portfolio of Pakistan Industrial Leasing Corporation (which now stands merged into... Oil price revision delayed by two days KARACHI, Sept 16: For the second consecutive day, the Oil Companies Advisory Committee (OCAC) on Monday failed to announce any revision in petroleum prices for the period September 15-30.... SBP watch on uses of FCY deposits KARACHI, Sept 16: The State Bank has decided to monitor more closely the use of fresh foreign currency deposits of the banks.... State Bank mops up Rs9.8bn KARACHI, Sept 16: The State Bank on Monday mopped up Rs9.8 billion through four-week repo of treasury bills at a maximum yield of 5.70 per cent.... WTO wants US dumping payments law repealed GENEVA, Sept 16: The World Trade Organization (WTO) ruled on Monday that the United States had violated key trade agreements with a law that channels anti-dumping duties on imports to US... Trading picks up on cotton market KARACHI, Sept 16: Physical trading on the cotton market on Monday picked up as spinners tried to grab the available lots with the ginners followed by reports that arrivals of phutti... EU, Germany clash over MobilCom rescue aid BRUSSELS, Sept 16: The European Commission clashed with Germany on Monday over whether a government rescue plan for troubled telecoms operator MobilCom was state aid requiring European Union approval.... Thailand unfazed by India’s brisk rice sales BEIJING, Sept 16: Thailand shrugged off worries on Monday that aggressive rice exports by India threaten its position as the world’s top rice exporter, saying sales by the huge Asian country... Karachi Port operations KARACHI, Sept 16: Five ships carrying containers, crude oil and to load molasses are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Sharing agreement MOSCOW, Sept 16: An agreement is almost ready on the sharing of the oil-rich Caspian sea, which has been at the core of a row between the five states bordering it... Greenback higher against euro LONDON, Sept 16: The dollar rose on Monday to its highest level against the euro since the beginning of August, after comments from a leading Japanese government official prompted a steep... Opec ministers divided on production hikes OSAKA, Sept 16: Opec ministers who are to convene here on Thursday are divided on whether the time has come to boost oil production in order to send a reassuring signal... China says forex reserves hit $253bn BEIJING, Sept 16: China’s foreign exchange reserves hit $253 billion at the end of August, the official Xinhua news agency said on Monday, quoting central bank chief Dai Xianglong.... Oil prices edge lower LONDON, Sept 16: Oil prices edged slightly lower on Monday, hit by profit-taking following a dramatic rally the previous session and comments from Saudi Arabia that it will cooperate in a...

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