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October 18, 2002 Friday Sha'aban 11, 1423 $260m ADB new loan for financial sector ISLAMABAD, Oct 17: The Asian Development Bank (ADB) will extend $260 million new loan to help strengthen financial sector reforms including regulations and improve the governance of the financial market.... Arif Habib Investments to acquire KASB Fund KARACHI, Oct 17: Arif Habib Investment Management Limited is understood to have entered into a deal with Khadim Ali Shah Bukhari & Company Limited (KASB) to take over KASB Premier Fund... Final decision on SRO-38 next week: ST, duty on CNG kits KARACHI, Oct 17: The government is expected to take the final decision next week whether to extend the SRO-38, exempting CNG cylinders, kits and other machinery for next five years or... Board set up to streamline farm loans ISLAMABAD, Oct 17: The government has decided to set up “Pakistan Livestock and Dairy Development Board” to streamline agriculture loans and promote agriculture sector especially dairy and livestock.... Oil prices slip LONDON, Oct 17: The price of oil edged lower here Thursday on renewed technical selling amid signs that a lack of fresh major developments on Iraq has resulted in the rally... Stocks maintain upward drive on strong buying KARACHI, Oct 17: Stocks on Thursday maintained upward drive on strong buying in most of the pivotals followed by reports of phased pullout of Indian troops from the international borders along... NBP shares 2nd offer gets good response ISLAMABAD, Oct 17: The second offering of government of Pakistan’s 5 per cent additional shares in National Bank of Pakistan (NBP) was four times oversubscribed to Rs1.628 billion.... SBP cuts margin on FCY buying, selling KARACHI, Oct 17: No bank can now keep a spread of more than 20 paisa per US dollar between the buying and selling rates of foreign currencies quoted for the public.... Remittances up at $926m in July-Sept KARACHI, Oct 17: Workers remittances or money sent back home by overseas Pakistanis shot up to $926.6 million during July/September this year from just $263.8 million in July/ September 2001.... Rupee gains KARACHI, Oct 17: The rupee gained three paisa against the US dollar in the inter-bank market on Thursday to close at Rs59.05/Rs59.06 for ready buying and selling against the previous close... FTA with S. Lanka on 24th: Razak KARACHI, Oct 17: The Commerce Minister Abdul Razak Dawood said on Thursday that Pakistan would sign the Free Trade Agreement (FTA) with Sri Lanka on October 24, and it would become... NTN made compulsory for shipment clearance ISLAMABAD, Oct 17: The government has decided to make it binding for all exporters and importers to produce valid National Tax Numbers (NTN) for the clearance of their consignments at all... Dullness prevails on cotton market KARACHI, Oct 17: Trading activity failed to pick up on the cotton market on Thursday as leading spinners remained conspicuous by their absence throughout the session for unknown reasons.... Karachi Port operations KARACHI, Oct 17: Three ships carrying DAP fertilizer and containers are due to arrive at the outer anchorage on Friday, according to KPT sources.... BoK to have new MD PESHAWAR, Oct 17: The Bank of Khyber (BoK) would soon have new managing director as the NWFP government has decided to replace the sitting head of the BoK, according to sources.... Warehouse surcharge LAHORE, Oct 17: The Pakistan Readymade Garments Manufacturers and Exporters Association on Wednesday urged the CBR chairman to announce exemption of warehouse surcharge on temporarily imported items used for manufacturing readymade... FTO ruling on audit under SAS ISLAMABAD, Oct 17: The Federal Tax Ombudsman (FTO), Justice Saleem Akhtar, has directed Central Board of Revenue (CBR) for exclusion of a complainant from the list of audit under self assessment... Dollar higher against euro LONDON, Oct 17: The dollar pushed the euro down to a one-month low on Thursday as better-than-expected results from several US companies raised expectations that Wall Street would be able to... Palm oil prices KUALA LUMPUR, Oct 17: Malaysian crude palm oil futures ended lower on Thursday on a technical pullback following sharp gains and record high volume a day earlier, traders said.... Nominated KARACHI, Oct 17: The Managing Committee of Karachi Chamber of Commerce and Industry has nominated Maqsood Ismail, A.Q. Khalil, I.G. Vohra and Haroon Bari on the general body of Federation of...

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