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October 29, 2002 Tuesday Sha’aban 22,1423 President approves several gas projects ISLAMABAD, Oct 28: President General Pervez Musharraf on Monday asked for increasing gas production to meet the rising demand and focusing on country’s huge coal reserves for future gasification.... Engg vision to be pursued actively: Razak ISLAMABAD, Oct 28: The “Engineering Vision” has started bringing in substantial growth in the engineering industry and it has now become imperative to pursue this vigorously.... PIA earns Rs853m profit for 3rd quarter KARACHI, Oct 28: PIA has earned an operating profit of Rs853 million for the 3rd Quarter of the current financial year, according to the quarterly report for the period July-September 2002... Subscription for UMF from Nov 1 KARACHI, Oct 28: United Money-Market Fund (UMF) is being offered to investors for subscription from November 1.... Decline in jobless rate unlikely, says SBP KARACHI, Oct 28: The State Bank of Pakistan does not expect any “significant decline” in unemployment rate in Pakistan during the recent two years 01 and 02 and points out that... Development SBP warns against low spending KARACHI, Oct 28: The State Bank of Pakistan has expressed its concern over low development spending, which, it said, has been curtailed over the last few years as a result of... Ishrat asks banks to evolve e-banking KARACHI, Oct 28: Governor, State Bank of Pakistan (SBP), Dr Ishrat Hussain has asked banks to speed up development of e-banking.... MCB offers cash dividend KARACHI, Oct 28: Muslim Commercial Bank has decided to give an interim cash dividend of Rs2.50 per share to its shareholders based on the 9-month operational results of the bank.... PSO profit rises to Rs1.04bn KARACHI, Oct 28: Pakistan State Oil (PSO) on Monday posted after tax profit of Rs1.04 billion for the first quarter of the current fiscal year ended September 30, 2002, an increase... Varieties LAHORE, Oct 28: The cotton growers, presently engaged in the picking of the silver fibre produce, will be left with only six cotton varieties for cultivation next year.... Stock market undergoes technical correction KARACHI, Oct 28: After ten sessions of consecutive rise, the shares at the Karachi stock exchange went into technical correction on Monday, with the KSE-100 index down 29 points. The market... Overview of SBP report KARACHI, Oct 28: Following is an overview of the State Bank of Pakistan annual report 2001-02:... Commercial paper: SECP guidelines ISLAMABAD, Oct 28: The Securities and Exchange Commission of Pakistan (SECP) on Monday announced the creation of “commercial paper”, a new financial instrument aimed at broadening the money market.... KESC charges KARACHI, Oct 28: Chairman, Pakistan Tanners Association chairman (southern zone), Gohar Rashid, criticized steep increase in fixed charges of power bills of the KESC.... BRR Modaraba KARACHI, Oct 28: JCR-VIS Credit Rating Company has assigned B.R.R. International Modaraba a medium to long-term entry rating of single A and short-term rating of A-2. “The outlook on these ratings... Euro-zone FRANKFURT, Oct 28: The euro zone had a current account surplus of $9.5 billion in August compared with a surplus of 5.3 billion euros a year earlier, data published by the... Karachi Port operations KARACHI, Oct 28: Seven ships are expected to arrive at the outer anchorage on Tuesday, the Karachi Port Trust sources said on Monday.... Cotton market lacks lustre KARACHI, Oct 28: Dull and dreary conditions witnessed on the week opening session of the cotton market where major players, including spinners, stayed away from the ring.... Duty on ATT goods KARACHI, Oct 28: Patron in chief of Towel Manufacturers’ Association, S.M.A. Rizvi has suggested to the government to levy duty at prevalent rates on the import of luxury and electronic goods... Dollar higher against yen LONDON, Oct 28: The euro was on a backfoot against the dollar on Monday as a closely watched survey showed a further deterioration in business confidence in Germany, adding to the...

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