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December 19, 2002 Thursday Shawwal 14, 1423 EC begins dumping proceedings: Pakistani bedlinen KARACHI, Dec 18: The European Commission (EC) has started anti-dumping proceedings against bedlinen imports from Pakistan. The proceedings have been initiated on the complaint lodged by the Committee of the Cotton... Exports may surpass $10.4bn target: EPB KARACHI, Dec 18: A jump of about 16 per cent in export earnings in last five months has given tremendous hope and optimism to the export planners and exporters who now... Govt committed to Islamic banking, says Shaukat ISLAMABAD, Dec 18: Adviser to Prime Minister on Finance and Economic Affairs, Shaukat Aziz said on Wednesday the government is committed to the goal of promoting Islamic banking in the country.... KSE revenue rises by 16pc KARACHI, Dec 18: The Karachi Stock Exchange released its annual report and accounts for the year 2002, on Wednesday. Managing director Moin Fudda, who signed the directors’ report, stated that to... Stocks cross 2,500-point barrier amid mixed trading KARACHI, Dec 18: Stocks on Wednesday turned mixed as leading investors adjusted their portfolios filling in gaps here and there apparently in a bid to resume operations beyond the 2,500 index... FDI up by 186pc in 5 months ISLAMABAD, Dec 18: The flow of Foreign Direct Investment (FDI) registered an increase of 186 per cent to $462.1 million in July-November of the current financial year as against $161.6 million... Rs156.7bn revenue collected in July-Nov ISLAMABAD, Dec 18: The tax authorities have collected Rs156.7 billion revenue in five months against the target of Rs156.6 billion set for July-November (2002-03), showing an increase of 0.06 per cent.... PICIC takes over ICP Lot-B Fund management KARACHI, Dec 18: Pakistan Industrial Credit and Investment Corporation (PICIC) has taken over the management of Lot-B Mutual Fund of Investment Corporation of Pakistan (ICP).... Great scope to attract investment ISLAMABAD, Dec 18: The Federal Minister for Industries and Production, Liaquat Ali Jatoi has said that the government is working towards creating a favourable investment environment in Pakistan. He was addressing... S. Arabia cuts oil exports TOKYO, Dec 18: Saudi Arabia plans to cut its crude oil exports to Japan and other Asian countries by 22 per cent in January from levels set under initial contracts, news... Phutti arrivals PCGA threatens to stop compiling KARACHI, Dec 18: Pakistan Cotton Ginners Association (PCGA) has threatened to stop compiling fortnightly arrival figures of phutti into the ginneries as All Pakistan Textile Mills Association (Aptma) has refused to... Bankruptcy NEW YORK, Dec 18: Insurance and finance company Conseco Inc., with $52.2 billion in assets, filed a Chapter 11 petition for voluntary bankruptcy-court protection, the Wall Street Journal reported on Wednesday.... Pilot project yields positive results: Palm oil plantation ISLAMABAD, Dec 18: The palm oil plantation project run by the Pakistan Oilseed Development Board (PODB) on trial basis in coastal area of Sindh has yielded positive results.... Cotton market lacks lustre KARACHI, Dec 18: Trading on the cotton market on Wednesday was relatively slow as spinners and mills kept to the sidelines most of the time apparently having a look at their... ADBP made full-fledged commercial bank ISLAMABAD, Dec 18: The conversion of Agricultural Development Bank (ADBP) into Zarai Taraqiati Bank Limited (from December 14), would help improve its operational as well as financial efficiency and as a... CBR doubles ceiling of amount for ST refund FAISALABAD, Dec 18: The Central Board of Revenue has doubled the ceiling of amount for refund of sales tax to expedite the settlement of sales tax refund claims of Faisalabad exporters,... WTO rules no threat to leather industry LAHORE, Dec 18: Speakers at a workshop on “Effects of WTO on Pakistan’s leather industry” here on Wednesday opined that World Trade Organization posed no serious threat to this major foreign... Palm oil prices lower KUALA LUMPUR, Dec 18: A technical correction saw the Malaysian palm oil futures head lower on Wednesday as profit taking set in after two days of gains, traders said.... Rs17m duty evasion cases detected ISLAMABAD, Dec 18: The tax authorities have detected cases of as many as Rs17 million duty evasion on import of various goods.... Govt to encourage Azerbaijani investment ISLAMABAD, Dec 18: The government is making every effort to facilitate investment in Pakistan by the Azerbaijani entrepreneurs and investors....

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