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January 2, 2003 Thursday Shawwal 28, 1423 Exports thru Karachi customs up by 19pc KARACHI, Jan 1: Exports through Karachi Customs registered 19 per cent growth during the first half (July-Dec) of current fiscal. In total, goods worth $3.725 billion were exported as against $3.146... Atta, cooking oil, ghee prices go up KARACHI, Jan 1: The burden on consumers has intensified in the last one month owing to increase in prices of atta, poultry, ghee and cooking oil and some vegetables. However, some... $ down 2.8pc in inter-bank; 3.6pc in kerb market: July-Dec 2002 KARACHI, Jan 1: The US dollar lost Rs 1.70 or 2.8 per cent of its value against the rupee in the inter-bank market during the first half of this fiscal year.... SBP spells out policy shifts KARACHI, Jan 1: The State Bank’s first quarter report 2002-03 spells out policy shift that, in some respects, has set new directions for the economy.... Oilseed policy ISLAMABAD, Jan 1: The Federal government will soon order a highly professional study for preparation of a national oilseed policy for reducing reliance on imported edible oils.... PS plans to raise output KARACHI, Jan 1: Pakistan Steel plans to expand its production capacity from 1.1 million tons to 3 million tons in the next 10 to 12 years on entirely self-financing basis, the... 12 insurance cos stopped from doing business ISLAMABAD, Jan 1: Securities and Exchange Commission of Pakistan (SECP) has directed 12 insurance companies to cease underwriting insurance business for their failure to raise their paid-up capital to a minimum... Islamic banking subsidiary KARACHI, Jan 1: The State Bank has allowed existing commercial banks to set up subsidiaries for Islamic banking with a minimum paidup capital of Rs 1 billion. These subsidiaries will be... Insurance business acquired KARACHI, Jan 1: New Jubilee Insurance (NJI) Company Limited announced on Wednesday that it had acquired the general insurance business of Commercial Union in Pakistan effective Jan 1, 2003.... MoU KARACHI, Jan 1: A memorandum of understanding (MoU) for consumer financing of home appliances was signed by the PICIC Commercial Bank with the Samsung Electronics.... Stock market undergoes technical correction KARACHI, Jan 1: The sustained run-up witnessed on the stock market during the fading days of the last year was halted on Wednesday as a long awaited technical correction made deeper... Return on NIT units increased to 38 per cent ISLAMABAD, Jan 1: The National Investment Trust (NIT) increased total return on its units to 38pc inclusive of 13pc dividends yields during July-December 2002, thus outperforming the benchmark KSE-100 by a... Prices steady on cotton market KARACHI, Jan 1: Cotton market opened the new year account on a firm note as ginners and spinners were locked in price war followed by conflicting reports about the size of... Karachi Port operations KARACHI, Jan 1: Two ships carrying containers and to load naphtha are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Hydel profit NWFP receives second tranche PESHAWAR, Jan 1: Water and Power Development Authority (Wapda) has released second tranche of Rs500m to NWFP against its Rs6bn annual share of net hydel profit, according to official sources.... Revenue collection improves ISLAMABAD, Jan 1: The revenue collection registered an increase of 14 per cent to Rs198.8 billion during the first half of the current financial year against Rs174.5 billion the same period... Rating upgraded KARACHI, Jan 1: JCR-VIS credit rating company has upgraded the Insurer financial strength rating of Adamjee Insurance Company Ltd from A plus to Double A minus.... GLL ratings reaffirmed KARACHI, Jan 1: JCR-VIS credit rating company has reaffirmed the medium to long term and short term entity ratings of Grays Leasing Ltd at triple B plus and A-2 respectively. The... China-US trade BEIJING, Jan 1: Two-way trade between China and the United States jumped 19.6pc to US$87.97bn in the first 11 months of last year from the same period in the previous year,... ICAP seminar KARACHI, Jan 1: A seminar on “review and reporting on internal control in the context of corporate governance” was recently organized by the Southern Regional Committee of the Institute of Chartered...

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