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September 22, 2002 Sunday Rajab 14, 1423 Rs795m bids for Bank Alfalah, ICP Funds ISLAMABAD, Sept 21: Abu Dhabi Group of UAE on Saturday offered the highest bid of Rs27.56 per share against the floor price of Rs26.56 per share for the remaining 30 per... Geneva moot to thrash out differences: Post-2005 quota free world KARACHI, Sept 21: A crucial meeting between industrialized nations and developing countries is being held in Geneva on Monday, to thrash out their differences on trade issues on textile quota-free world... Cars, bikes sales rise in July-Aug KARACHI, Sept 21: The entire auto sector managed to sell higher number of units and earned good sales in July-August 2002, marked by the rise in sales of cars and bikes... Export bills Discounting picks up KARACHI, Sept 21: Exporters have resorted to heavy discounting of export bills after witnessing a 1.4 per cent fall in the value of the US dollar so far this fiscal year.... Badla rates fall to 8.6pc KARACHI, Sept 21: The weighted average ‘badla’ rates at the Karachi carryover trade (COT) market dipped to 8.6 per cent on Friday — reflecting the lowest level in 28 trading sessions... Saudi Pak okays Rs351m financing ISLAMABAD, Sept 21: Saudi Pak Industrial and Agricultural Investment Company (pvt) Limited on Saturday approved a total financing of Rs351 million to 11 companies in manufacturing, financial services, communication and petroleum... SPI records decline ISLAMABAD, Sept 21: Sensitive Price Indicator during the week ending September 19 dropped by 0.20 per cent as compared to previous week, according to the weekly price data released by the... How long will the financial sector reforms last? KARACHI, Sept 21: How long will the financial sector reforms last?.The State Bank is working on a ten-year vision, that sets the strategic direction. The short-term strategy is to complete the set of reforms initiated in 1991. .. Indian industry hits out at S&P downgrading MUMBAI, Sept 21: Indian business hit out on Friday at Standard and Poor’s (S and P) for its decision to downgrade the local currency rating to junk status and strip the... Brazil markets break losing streak after new poll SAO PAULO, Sept 21: Brazil’s battered financial markets got a reprieve on Friday after a fresh opinion poll gave investors hope that Luiz Inacio Lula da Silva may not win the... China-bound investments expand sharply TAIPEI, Sept 21: China-bound investments approved by Taipei authorities in the first eight months of this year amounted to US$2.36 billion a 34.8 per cent increase over the same period of... Yen tumbles to 3-year lows NEW YORK, Sept 21: The yen tumbled to three-year lows against the euro and three-month troughs against the dollar on Friday, as investor anxiety deepened about Japan’s troubled financial system and... New York cotton futures firmer NEW YORK, Sept 21: NY cotton futures settled firmer Friday on wary speculative buying tied partly to questions about the direction of Hurricane Isidore and unwanted rain drenching swathes of the... US govt sees $54.71bn budget gap in August WASHINGTON, Sept 21: The US government ran a smaller budget gap in August than in the same month a year ago, sending the year-to-date deficit over $200 billion with one month... US stocks higher NEW YORK, Sept 21: US stocks edged higher on Friday but failed to avoid a fourth losing week, while bond prices held steady as investors kept to government debt on concerns... 47 nations seek to shore up energy sources OSAKA, Sept 21: Delegates from 47 countries on Saturday urged closer cooperation in shoring up global energy sources ahead of a possible conflict between the United States and Iraq.... Japan’s banks to dispose of $80bn bad loans TOKYO, Sept 21: Japan’s top financial regulator said on Saturday that the country’s major banks will dispose of bad loans worth about $80 billion in the year to March 2003.... Global energy supplies abundant OSAKA, Japan, Sept 21: Global energy supplies will remain abundant until 2030 with demand expected to grow by two-thirds, but access is critical, particularly for impoverished countries, a key report released... Argentine cotton area seen rising BUENOS AIRES, Sept 21: Argentine cotton area could grow by up to a third this year as farmers stick to a crop better suited to small lots and others receive much-needed... Intellectual Property Authority in doldrums ISLAMABAD, Sept 21: There is no likelihood of an early establishment in Pakistan of the Intellectual Property Authority promised by Commerce Minister Abdul Razak Dawood about three months ago, according to...

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