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October 11, 2002 Friday Sha'aban 4, 1423 $95.5m surplus trade with ECO states ISLAMABAD, Oct 10: Pakistan has achieved a trade surplus of $95.552 million with ECO-member countries during the financial year 2001-02, an official source told Dawn.... Finished goods exports go up 14.19pc ISLAMABAD, Oct 10: Manufactured exports with a total of over $2.37 billion improved their share in total exports during July-September 2002, according to the detailed provisional foreign trade figures of the... FTO takes note of tax officials ‘negligence’ ISLAMABAD, Oct 10: The Federal Tax Ombudsman (FTO), Justice (Retd) Saleem Akhtar has directed the Central Board of Revenue has taken exception to tax officials maladministration.... EPB spends over Rs291m on export activities KARACHI, Oct 10: The Export Promotion Bureau (EPB) spent Rs291.133 million during FY2001-2002 on export promotional activities which included holding of exhibitions and arranging trade delegation aboard.... FTSE gains 35 points LONDON, Oct 10: Britain’s FTSE 100 rose on Thursday, recouping earlier falls as Wall Street gained on hopes of a recovery in corporate profits, while banks and insurers clawed back losses... Trade experts stick to growth forecast for 2002 GENEVA, Oct 10: The volume of world goods trade is projected to grow by one per cent in 2002 after last year saw its first decline since 1982, the World Trade... New corporate rules US seeks to calm EU concerns BRUSSELS, Oct 10: The head of the US Securities and Exchange Commission (SEC) sought on Thursday to calm European Union (EU) concerns about a new US corporate law which also applies... Refund to pharma cos awaits ECC nod ISLAMABAD, Oct 10: The Economic Coordination Committee (ECC) of the cabinet decision on refund of General Sales Tax (GST) on unsold drug stocks is expected soon.... Oil price slides LONDON, Oct 10: The price of oil fell on Thursday after Iraq invited the United States to inspect two sites where Washington suspects Baghdad of having resumed its prohibited weapons programmes.... Eurozone budgets FRANKFURT, Oct 10: Euro-zone governments must take “swift and decisive” action to improve their budgetary positions, European Central Bank President Wim Duisenberg said on Thursday.... Six IT officers promoted ISLAMABAD, Oct 10: Six officers of the income tax group have been promoted from grade 20 to 21.... IMF hopeful of reaching deal with Argentina WASHINGTON, Oct 10: The International Monetary Fund said on Thursday it had made progress in talks over restarting aid to Argentina and was hopeful a deal can be reached that would... BoE holds interest rates steady LONDON, Oct 10: The Bank of England announced on Thursday its policymakers had agreed to leave the central bank’s main lending rate unchanged at a 38-year low of 4.0 per cent... Euro slips after ECB rates held LONDON, Oct 10: The euro weakened in late trade Thursday following the European Central Bank’s decision to keep interest rates unchanged and the release of strong US labour figures, dealers said.... Reforms may leave Japan banks ‘practically insolvent’ TOKYO, Oct 10: Some major Japanese banks which are already undercapitalized may be left “practically insolvent” if authorities implement realistic measures to deal with credit and market risk, Fitch Ratings warned.... Global stock markets under pressure again LONDON, Oct 10: Stock markets took another beating in Asia and see-sawed nervously in Europe as the gloomy mood infecting equity investors around the globe showed little sign of abating.... WB, WTO urge rich to liberalize farm markets GENEVA, Oct 10: Efforts by institutions such as the World Bank to tackle poverty are irrelevant unless wealthy countries cut farm subsidies, World Bank president James Wolfensohn warned on Thursday.... ‘Malaysia’s 4-year-old currency peg sustainable’ KUALA LUMPUR, Oct 10: Malaysia’s four-year-old currency peg of 3.8 ringgit to the dollar has proven to be sustainable and would remain in place, Prime Minister Mahathir Mohamad said on Thursday.... ‘Samsung seeks to fully embrace Chinese development’ HONG KONG, Oct 10: China’s inevitable emergence as an global economic superpower should not be viewed with trepidation but as an opportunity, Samsung Electronics chief executive Yun Jong-Yong said on Thursday.... Nepal economy in limbo KATHMANDU, Oct 10: Nepal’s political crisis may set back hopes of turning around the troubled economy, as donors and tourists hesitate to spend money in the kingdom, financial experts said on...

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