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December 31, 2002 Tuesday Shawwal 26, 1423 State Bank sees 4.5pc growth this fiscal KARACHI, Dec 30: The State Bank believes that Pakistan economy may grow 4.5 per cent this fiscal year despite a steep fall in LSM (large scale manufacturing) and lower bank credit... Govt calls stakeholders meeting today: Sugar crisis ISLAMABAD, Dec 30: With looming sugar crisis due to estimated 8 lakh tons of sugar surplus, the government has called an emergency meeting of sugar industry on Tuesday following their decision... SBP questions official agencies data: LSM production KARACHI, Dec 30: The State Bank of Pakistan has bluntly questioned the credibility of the production data of large scale manufacturing (LSM) collected and disseminated by three official agencies. It has,... 3 per cent levy on spurn yarn goes ISLAMABAD, Dec 30: The Central Board of Revenue (CBR) has waived the levy of 3 per cent sales tax on supply of spurn yarn to unregistered person.... POL prices likely to go up KARACHI, Dec 30: The Oil Companies Advisory Committee (OCAC) is expected to increase the prices of petroleum products by three to seven per cent when it meets on Tuesday to announce... Refinance rate reduced by 1pc KARACHI, Dec 30: The State Bank on Monday said it has reduced the export refinance rate by one percentage point to 4.5 per cent for January 2003.... Investment task force meets KARACHI, Dec 30: Prime Minister’s Adviser on Investment and Privatization, Dr Abdul Hafeez Shaikh on Monday said in order to achieve the investment targets a consultative process has got under way... NA seeks check on meat export ISLAMABAD, Dec 30: The National Assembly has asked the Ministry of Commerce to take measures for discouraging the massive export of meat.... Effective yield on PIBs falls KARACHI, Dec 30: The State Bank on Monday sold Rs4.95 billion worth of long term Pakistan Investment Bonds on premium to raise Rs5.6 billion from the banking system.... Singapore economy SINGAPORE, Dec 30: Singapore’s economy likely slowed in the fourth quarter and may have even slipped back into recession for a second time in as many years as factory production sputters,... Tax returns ISLAMABAD, Dec 30: The Central Board of Revenue (CBR) has extended the office timing till 7.00 pm on Tuesday for filing of income tax returns.... Stocks off highs on late profit-selling in Hubco, PTCL KARACHI, Dec 30: The KSE 100-share index on Monday briefly tested its new target of 2,700 points as investors continued to build-up long positions on selected counters aided by lure of... Global chip sales growth slows in November AMSTERDAM, Dec 30: Growth in global chip sales slowed to 1.3 per cent in November from October, the industry’s main research group said on Monday, and investors are bracing for even... Cotton prices up on lower crop estimate KARACHI, Dec 30: Cotton market started the opening session of the week on a firm note as spinners remained active buyers at the current levels but ginners were reluctant sellers.... Drawback on polystyrene allowed ISLAMABAD, Dec 30: The Central Board of Revenue has allowed duty drawback on export of various kinds of polystyrene aiming at enhancing its exports.... Singapore to set up new customs unit SINGAPORE, Dec 30: Singapore will establish a new customs unit next year to facilitate trade, the government said on Monday.... Dubai gold trade DUBAI, Dec 30: Demand for gold jewellery in Dubai is likely to remain tepid in January despite an annual shopping festival because of high prices and concerns over a possible US-led... Indian rupee MUMBAI, Dec 30: The Indian rupee closed at a new 12-month peak on Monday, riding on a spurt in foreign inflows and a globally weaker dollar.... Dollar six-week lows LONDON, Dec 30: The dollar slid to six-week lows versus the yen and held near three-year lows against the euro on Monday, weighed by persisting worries over a possible US-led attack... Palm oil prices KUALA LUMPUR, Dec 30: Malaysian palm oil extended its losses at Monday’s close on profit-taking ahead of the year end and liquidation sparked by a drop in prices of rival soyoil....

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