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October 23, 2002 Wednesday Sha’aban 16,1423 High rate, low growth may lead to debt hike: WB draft report ISLAMABAD, Oct 22: Pakistan’s high debt, low growth and high real interest rate payments of eight per cent are a volatile mix that could lead to explosive debt increases in near... Poland for boosting trade with Pakistan KARACHI, Oct 22: The bilateral trade between Pakistan and Poland has registered a steady growth in the last few years from $24 million in 1997 to $43.3 million in 2000.... Engro’s profit rises to Rs854m KARACHI, Oct 22: Engro Chemical Pakistan posted a net profit of Rs854 million for the period January-September 2002, up 21 per cent from the level of last year.... ATT import value up by 50pc ISLAMABAD, Oct 22: The import value of Afghan Transit Trade (ATT) has surged by 50 per cent in the first quarter of the financial year 2002-03, over the corresponding year of... Financial advisory agreement finalized: PPL sell-off ISLAMABAD, Oct 22: The Privatization Commission has finalized a financial advisory services agreement with Merrill Lynch for disinvestment of Pakistan Petroleum Limited (PPL).... New govt may sign FTA with Sri Lanka ISLAMABAD, Oct 22: The final shape to the Free Trade Agreement (FTA) with Sri Lanka is likely to be given by the new elected government in the next few months, reliable... Move to levy duty on CNG kits opposed KARACHI, Oct 22: The government has been continuously floating its idea to the CNG dealers and station owners to agree on five per cent import duty on CNG related items, but... Efforts on to boost fruit export QUETTA, Oct 22: Balochistan Food and Agriculture Minister Haji Mohammed Qasim Khan Achakzai on Tuesday said the present government was making all out efforts to increase fruit and other product’s exports... LSE member declared defaulter LAHORE, Oct 22: The Board of Directors of Lahore Stock Exchange (LSE) has declared Ajmal Shafiq, one of its members, as defaulter on a number of complaints and claims by investors.... Japan delays key report on bad loans TOKYO, Oct 22: Japan has postponed until Friday an interim report on ways to accelerate the clean-up of bad loans at Japanese banks, amid stiff resistance from ruling-party lawmakers and sickly... Japan-US talks TOKYO, Oct 22: Talks between Washington and Tokyo should help improve Japanese monetary and banking policy, a top US official said on Tuesday as he urged Japan to halt deflation and... Heavy buying in PSO pushes index further higher KARACHI, Oct 22: Heavy buying in PSO and other leading energy shares toward the fag-end of Wednesday’s session lifted the market from the initial sluggishness allowing it to finish with an... HK gold HONG KONG, Oct 22: Hong Kong gold prices closed lower on Tuesday at US$311.00-311.50 an ounce, against the previous day’s closing rate of 313.40-313.90.... Oil price extends losses LONDON, Oct 22: Oil prices ran up new losses on Tuesday as the so-called ‘war premium’ factored into the market to reflect risks of a war in Iraq continued to unwind... Fear of higher mortgage rates recedes SINGAPORE, Oct 22: After two straight months of continuous increases, interbank rates here have eased finally—much to the relief of current and prospective home owners who had feared that borrowing costs... Prices firm on cotton market KARACHI, Oct 22: Cotton market on Tuesday showed steady trend as ginners were not inclined to lower their asking prices after having purchased seedcotton (phutti) well above the official procurement rates.... Some Singapore firms pay well despite losses SINGAPORE, Oct 22: It pays to be a chief executive (CEO), even when your company is millions of dollars in the red, because in many cases you will still be paid... Malaysian palm up KUALA LUMPUR, Oct 22: Malaysian palm oil futures ended up for the third straight day after an overnight surge in Chicago soyoil powered a market already chugging along on strong export... Karachi Port operations KARACHI, Oct 22: Five ships carrying containers, high speed diesel and to load molasses are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Indian economic reforms target NEW DELHI, Oct 22: Indian Finance Minister Jaswant Singh said on Tuesday he would give top priority to economic reforms on taxation and cutting down a soaring fiscal deficit to achieve...

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