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October 22, 2002 Tuesday Sha’aban 15,1423 Textile exporters afraid of US study KARACHI, Oct 21: The US authorities have initiated a study of the competitiveness of several foreign textile and apparel suppliers, including Pakistan, in order to prepare itself for the quota phase-out... NWFP pays Rs5.7bn to Centre as part of CDL PESHAWAR, Oct 21: NWFP has paid Rs5.7bn to federal government during the current financial year clearing part of its expensive cash development loan (CDL)—principal amount—by diverting major chunk of the recently... 8 items may be dropped from ATT negative list ISLAMABAD, Oct 21: The government is likely to withdraw around eight items from negative list of Afghan Transit Trade (ATT) aiming to help in reconstruction of war-torn country of Afghanistan.... Private sector credit not picking up KARACHI, Oct 21: The demand for the private sector credit is not picking up pace leaving banks with no choice but to invest surplus liquidity in the government securities.... Pakistan, China to cooperate in textile sector BEIJING, Oct 21: Pakistani and Chinese businessmen have entered into several agreements to enhance cooperation in the textile sector. This was stated by Anjum Saleem, chairman, All Pakistan Textile Mills Association... Japan, US discuss economic issues TOKYO, Oct 21: Top Japanese and US finance officials on Monday discussed issues affecting the world’s two largest economies ahead of key policy announcements by Japan later in the week.... Razak for boosting trade with Ireland ISLAMABAD, Oct 21: Commerce Minister Abdul Razak Dawood has said that Pakistan and Ireland are jointly working to boost the volume of trade between the two countries through products diversification.... Metropolitan Life plans Rs40m right share issue KARACHI, Oct 21: Metropolitan Life Assurance Company of Pakistan Limited — the smallest of the four private sector life insurance companies — said on Monday that the Board of Directors had... Textile machinery symposium KARACHI, Oct 21: VDMA Textile Machinery Association will hold a German textile machinery symposium for the leading textile mills in Pakistan in May 2003.... Stocks up on higher corporate earning reports KARACHI, Oct 21: Stocks on Monday maintained an optimistic outlook as investors continued to build-up long positions on selected counters aided by reports of higher corporate earnings. The KSE 100-share index... ‘US-Iraq war to have no impact on oil prices’ PARIS, Oct 21: Pierre Terzian, the international oil specialist and director of Paris-based Petrostrategies, says that as far as he’s concerned, a war with Iraq will have absolutely no impact on... Karachi Port operations KARACHI, Oct 21: Four ships carrying chemicals and containers and to load general cargo are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Oct 21: Two tankers carrying edible oil and furnace oil were allotted berths at Multipurpose and Fotco Oil Terminal during the last 24 hours, says a PQA press release on... Protection from cheap goods import sought ISLAMABAD, Oct 21: The National Tariff Commission (NTC) has launched an investigation into the request from Carrier Telephone Industries (Pvt) Limited (CTI), the sole manufacturer of electronic systems in Pakistan, for... US outlook WASHINGTON, Oct 21: A key barometer of the US economic outlook fell for the fourth month in a row in September, raising fears about the recovery, the Conference Board said on... Export target ISLAMABAD, Oct 21: Commerce Minister Abdul Razak Dawood said that all fundamentals had been placed at right place and he was quite optimistic about realization of export target of $10.4 billion... Punjab ginners raise prices of fine lint KARACHI, Oct 21: Physical activity on the cotton market on Monday slowed down as spinners were not inclined to make bigger commitments after the Punjab ginners raised prices of fine quality... FTO directive to CBR ISLAMABAD, Oct 21: Federal Tax Ombudsman Justice Saleem Akhtar has asked the Central Board of Revenue to cancel the proceedings initiated for assessment of an assessee under the normal law.... Dollar retreats against yen LONDON, Oct 21: The dollar backtracked from a four-month high against the yen and a one-month peak against the euro on Monday as US stock futures tempered hopes of further Wall... Malaysian palm higher KUALA LUMPUR, Oct 21: Malaysian palm oil futures ended higher on Monday after export estimates for October 1-20 from the market’s main cargo surveyor fell within trade expectations, dealers said....

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