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November 19, 2002 Tuesday Ramazan 13, 1423 SECP takes control of NBFIs from Dec 1 ISLAMABAD, Nov 18: All the non-bank financial institutions (NBFIs) will stand transferred to the regulatory control from the State Bank of Pakistan to Securities and Exchange Commission of Pakistan (SECP) with... Cut in lending, deposit rates on cards KARACHI, Nov 18: One thing is certain. Banks cannot afford to keep their lending rates intact after a 1.5 per cent cut in the State Bank discount rate. They will have... Banks’ profits decline: IMF KARACHI, Nov 18: Commercial banks suffer from lack of profitability, both in terms of return on assets and on equity, says an IMF report.... NWFP receives only Rs26.5m: GST on services PESHAWAR, Nov 18: Islamabad has so far released only a sum of over Rs26.5 million to NWFP as its share from the general sales tax (GST) on services, according to official... Afghanistan, India discuss trade NEW DELHI, Nov 18: India and Afghanistan on Monday held talks to put in place a preferential trading arrangement and the setting up of transit routes to jack up bilateral economic... Stocks rise 28 points on SBP rate cut decision KARACHI, Nov 18: Stocks on Monday rose across the board on strong selective aided by the perception that bank credits may be cheaper after the central bank cut discount rate by... Rice board set up ISLAMABAD, Nov 18: The government on Monday constituted Pakistan Rice Board (PRB) to take care of quality control, research and development, marketing and export of rice, a senior official told Dawn.... Moody’s ups Pakistan outlook LONDON, Nov 18: Ratings agency Moody’s Investors Service said on Monday it had upped its outlook on Pakistan’s B3 long-term foreign currency debt to positive from stable, and affirmed the existing... ADBP disburses Rs13.87m in July-Sept ISLAMABAD, Nov 18: Agricultural Development Bank of Pakistan (ADBP) has reinforced its priority for increased and expeditious financial assistance for rural poor, specially the women through micro credit scheme.... Prices decline further on cotton market KARACHI, Nov 18: Cotton prices on Monday declined further as ginners continued to unload their long stock positions fearing further decline because of quality factors.... CBR changes selection process ISLAMABAD, Nov 18: The Central Board of Revenue (CBR) has introduced the policy of internal job posting aimed at bringing in professionalism and ensuring transparency in the selection process for important... Rice exports KARACHI, Nov 18: Rrice exports have slowed down during the last week on low international demand, and dealers said on Monday high domestic prices were also a hindrance.... New varieties KARACHI, Nov 18: Scientists of Pakistan Atomic Energy Commission (PAEC) have evolved a new variety of wheat (Marvi- 2000) and a variety of cotton (Sohni) at the Nuclear Institute of Agriculture... Karachi Port operations KARACHI, Nov 18: Seven ships carrying containers, general cargo, high speed diesel and to load rice are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Ratings LAHORE, Nov 18: Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of Crescent Leasing Corporation Ltd to “A+” (single A plus) and maintained short-term entity rating at “A1”... Yen hit by sliding Japanese stock prices LONDON, Nov 18: The yen came under pressure on Monday as worries over the potential economic impact of Japanese authorities’ attempts to clean up the country’s ailing financial system sent stocks... Malaysian palm oil prices lower KUALA LUMPUR, Nov 18: Malaysia’s crude palm oil futures failed to sustain last week’s gains and suffered further losses on Monday as players took profit and cautiously watched the soy market.... Round-table SUKKUR, Nov 18: The Sukkur Chamber of Commerce and Industry (SCCI) is organizing a one-day “Trade policy dialogue round-table on WTO” from 3.00 pm to 5.20 pm on Nov 25 at... Clearance ISLAMABAD, Nov 18: The Central Board of Revenue (CBR) has allowed the facility of clearance after 6 pm to beverage manufacturing units.... First Grindlays Modaraba KARACHI, Nov 18: All but two of the thirty-nine modarabas listed on the Karachi Stock Exchange, have been trading at disconcerting discounts to their par value. The exceptions are First Imrooze...

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