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October 16, 2002 Wednesday Sha’aban 9, 1423 MPs-elect pressurizing businessmen: Employment KARACHI, Oct 15: Businessmen have started receiving pressures from the elected legislators to give employment and accommodate their recommended persons in their business concerns.... State Bank makes write-offs easier KARACHI, Oct 15: The State Bank has allowed banks and non-bank financial institutions to write-off loss-making loans up to half a million rupees without moving courts. Loss-making loans are the loans... Microfinance banks to check money laundering KARACHI, Oct 15: Microfinance banks/institutions are supposed to develop and implement effective procedure to avoid becoming a conduit of money laundering.... WB identifies four key areas: Investment climate ISLAMABAD, Oct 15: The World Bank has identified inadequate incentive regime, risky and weak regulatory framework and weak financial institutions as the reasons for government’s failure to improve investment climate in... Dutiable imports up by 9.69pc ISLAMABAD, Oct 15: The value of dutiable imports went up by 9.69 per cent to Rs103.758 billion during the first quarter (July- September) of the current financial year against Rs94.586 billion... Index up by 23.32 points as investors back in arena KARACHI, Oct 15: Stocks on Tuesday maintained an optimistic outlook as investors were back in the arena followed by official confirmation that the sell-off of PSO is well on the cards... CDS remains bogged down KARACHI, Oct 15: The Central Depository System (CDS) — the electronic stock settlement system managed by the Central Depository Company (CDC) — remained bogged down on Tuesday. The CDC informed the... President to chair meeting on Afghanistan ISLAMABAD, Oct 15: President Pervez Musharraf is going to chair a meeting on Afghanistan here on Wednesday. The meeting would be attended among others by ministers for finance, commerce and agriculture,... Pakistan, Switzerland reach accord on taxation ISLAMABAD, Oct 15: Pakistan and Switzerland on Tuesday signed the revised convention on the avoidance of double taxation between the two countries.... Revenue audit makes Rs1.289bn recoveries KARACHI, Oct 15: The Directorate General, Audit and Evaluation (South), Revenue Receipts, Karachi, made cash recoveries to the tune of Rs1.289 billion at the instance of audit during the financial year... Concession to defaulting firms: Statutory returns ISLAMABAD, Oct 15: The Securities and Exchange Commission of Pakistan here on Tuesday announced yet another concession to the companies other than listed companies which defaulted on timely submission of their... Firm trading on cotton market KARACHI, Oct 15: Cotton market on Tuesday showed firm trend as reports of slow arrivals of phutti into the southern Punjab ginneries did not allow spinners to leave the arena fearing... Karachi Port operations KARACHI, Oct 15: Five ships carrying raw jute, iron scrap and chemicals are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... PQ likely to handle 23pc more cargo KARACHI, Oct 15: The Port Qasim expects higher cargo handling during 2002-03 over the previous year because the business activity has gathered momentum at the port.... Technology KARACHI, Oct 15: Intel Corporation on Tuesday announced several advances in memory and processing technologies that will help significantly improve battery life, performance and storage capacity for cell phones, says a... Dollar higher against yen LONDON, Oct 15: The dollar hit a four-month high against the yen and a one-week peak against the euro and Swiss franc on Tuesday as better than expected US corporate earnings... Palm oil lower KUALA LUMPUR, Oct 15: Malaysian crude palm oil futures gave up gains and closed mostly lower on Tuesday because of lower-than-expected export numbers for October 1-15 and a weakening rupiah.... Oil prices LONDON, Oct 15: Oil prices held steady here Tuesday as profit-taking in New York offset concerns over a tropical depression in the Caribbean and jitters ahead of weekly estimates of US...

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