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October 1, 2002 Tuesday Rajab 23, 1423 PICIC launches deposit scheme KARACHI, Sept 30: PICIC announced on Monday that it was launching a new deposit scheme, purely as a social service product, which would yield 12 per cent per annum on money... Pakistan Rice Board on cards ISLAMABAD, Sept 30: Commerce Minister Abdul Razak Dawood said here on Monday that constitution of fully powerful Pakistan Rice Board (PRB) was in the offing to give substantial boost to export... $ down 1.5pc in inter-bank; 1.8pc in kerb KARACHI, Sept 30: The US dollar shed 92 paisa or 1.5 per cent of its value against the rupee in the inter-bank market in July -September this year.... FCA may set 20.27m ton wheat target ISLAMABAD, Sept 30: Federal Committee on Agriculture (FCA) in its meeting on October 7 is expected to set 20.27 million ton target for the 2003 wheat crop, Dawn learnt on good... Earns Rs19.8bn PTCL declares dividend at 27.5pc KARACHI, Sept 30: Pakistan Telecommunication Company Limited (PTCL) announced cash dividend at 27.5 per cent (Rs2.75 per share); the board proposing to distribute Rs14 billion of the after tax profit of... Aptma seeks level-playing field KARACHI, Sept 30: All Pakistan Textile Mills Association (Aptma) has urged the government to ensure level playing field in all raw materials, including polyester staple fibre by adopting free import and... OCAC defers oil price revision KARACHI, Sept 30: The Oil Companies Advisory Committee (OCAC) on Monday deferred the fortnightly price announcement without giving any reasons.... Export finance rate unchanged KARACHI, Sept 30: The exporters would continue to get export finance at 8 per cent markup for the seventh consecutive month in October 2002 as the State Bank has left the... Revenue collection stands at Rs88.2bn ISLAMABAD, Sept 30: Federal tax collection during the first quarter of current financial year (July-September), as per provisional figures, was Rs88.2 billion, just Rs1.8 billion short of the target.... US economy WASHINGTON, Sept 30: White House economic adviser Glenn Hubbard on Monday said the US economy is in recovery, with the long-awaited rebound in business investment likely to kick in during the... PTCL dividend fails to lift stock market KARACHI, Sept 30: Stocks on Monday resumed trading on a higher note on strong anticipatory buying ahead of PTCL board meeting but post-dividend profit-selling in it allowed the market to finish... Dhahran ITCN attracts 160 companies DHAHRAN, Sept 30: After successfully organising two exhibitions in Pakistan, the ITCN has now spread its wings to the Middle East also. An Information Technology Commerce Network (ITCN-Saudi Arabia) exhibition is... Cotton prices fall on steady phutti arrivals KARACHI, Sept 30: Trading on the cotton market on Monday resumed on an easy note as spinners lowered their bid prices after fears of short supply owing to national elections were... Koizumi vows to get rid of bad loans TOKYO, Sept 30: In a surprise move that boosted hopes of a banking clean-up, Japanese Prime Minister Junichiro Koizumi on Monday tapped his pro-reform economics minister, Heizo Takenaka, to become the... Karachi Port operations KARACHI, Sept 30: Five ships carrying containers and general cargo are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Direct flights to Colombo sought KARACHI, Sept 30: The chairman, Pakistan Rice Exporters Association (REAP), Abdul Razak Janoo, has urged the government to arrange direct flights from Karachi to Colombo for the promotion of trade between... Date extended KARACHI, Sept 30: The last date for availing Employees Old-Age Benefits Institution (EOBI) amnesty scheme has been extended up to November 15, 2002.... Dollar lower against yen LONDON, Sept 30: The dollar sagged against other major currencies on Monday as US stocks headed for another rocky start following Friday’s rout on Wall Street with geopolitical tensions also weighing... Palm oil prices KUALA LUMPUR, Sept 30: Weakness in Chicago soya futures sparked liquidation in Malaysia’s crude palm oil market on Monday despite higher export number for September, traders said.... Commodity markets MULTAN, Sept 30: The following are Monday’s upcountry commodity market rates in rupees:...

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