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October 17, 2002 Thursday Sha'aban 10, 1423 Independent authority to regulate banks ISLAMABAD, Oct 16: The government has decided to set up an independent regulatory authority for all commercial banks.... US discusses oil prices, supply with Riyadh, UAE DUBAI, Oct 16: A US official held talks on Wednesday with the oil ministers of key producers Saudi Arabia and the United Arab Emirates as Washington continued to prepare for a... Leather garments exports down by 29pc KARACHI, Oct 16: Export of leather garments registered a steep decline of around 29 per cent during the 12 months period from October 2001 to September 2002 as compared to the... SBP holds 6-month TBs rate firm KARACHI, Oct 16: The State Bank left the cut-off yield of six- month treasury bills almost unchanged on Wednesday amidst divided opinion on how long the SBP may keep the interest... New US corporate rules WASHINGTON, Oct 16: US securities regulators on Wednesday proposed requiring companies to disclose more information about their internal controls and codes of ethics as part of an effort to implement legislation... POL price hike triggers buying in energy shares KARACHI, Oct 16: Stocks on Wednesday rose further across the board boosted by heavy buying in the energy shares on the perception of higher earnings followed by upward revision in the... Tinplate dumping NTC issues statement of essential facts ISLAMABAD, Oct 16: The National Tariff Commission has issued the “Statement of Essential Facts” as a prelude to its Final Determination on the complaint about alleged dumping in Pakistan of tinplate... Rice EPZ to be set up in Sindh KARACHI, Oct 16: Sindh Governor Muhammadmian Soomro has promised to extend support for establishing rice export processing zone in the province between Karachi and Hyderabad.... Global economy picking up: BoE chief LONDON, Oct 16: Bank of England Governor Sir Edward George said on Wednesday that the global economy was picking up and this could eventually put upward pressure on British interest rates... Trading slow on cotton market KARACHI, Oct 16: Trading activity on the cotton market slightly slowed down on Wednesday as leading spinners curtailed their daily offtake apparently to have an overview of their inventories.... Nortel likely to make $20m fresh investment ISLAMABAD, Oct 16: Nortel Networks company has decided to enhance its investment in Pakistan, and initially it will be giving $7 million grant to PTCL to help it improve its nationwide... ST refund demanded KARACHI, Oct 16: The exports of value-added textile goods are in great danger because of inordinate delays in payment of sales tax refund claims which result in liquidity crunch for the... Karachi Port operations KARACHI, Oct 16: Four ships, including Steel Might, carrying 21,000 tons of DAP fertilizer are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... New Santro model launched KARACHI, Oct 16: Dewan Farooque Motors Limited (DFML) on Wednesday unveiled all new Hyundai Santro 1000cc EFI car with an ex-factory price tag of Rs499,000, up by Rs20,000 as compared to... Preparation for quota free regime KARACHI, Oct 16: Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has embarked upon a programme to prepare its members for the fast approaching quota free environment.... Voice chat channel closure flayed KARACHI, Oct 16: The closing down of voice chat channel by the Pakistan Telecommunication Company Limited has adversely affected the exporters’ activity who depend on the facility for developing their products... Dollar firms against euro LONDON, Oct 16: The dollar held firm against the euro on Wednesday thanks to strong gains on Wall Street, but dipped against the yen after Bank of Japan governor Masaru Hayami... Bad loan TOKYO, Oct 16: A taskforce considering accelerated disposals of bad loans at Japanese banks aims to release a key report early next week, which could result in the Bank of Japan...

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