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January 9, 2003 Thursday Ziqa’ad 5, 1423 PS to use Dilband iron ore: Agreement signed KARACHI, Jan 8: Pakistan Steel and Bolan Mining Enterprise, a joint venture organization of Balochistan government, on Wednesday signed an agreement for the supply and use of 100,000 tons of indigenous... State Bank may launch rupee derivatives KARACHI, Jan 8: Pakistan is likely to witness the launch of rupee derivatives in the money market and a further easing of trading barriers in the foreign exchange market in 2003... Banks invest in TBs despite low rates KARACHI, Jan 8: Banks foresee that under the present situation increasing lending is too difficult and all they can do is to keep investing surplus liquidity in the treasury bills come... CBR to register taxpayers afresh ISLAMABAD, Jan 8: The tax authorities will soon launch a country-wide drive to register afresh potential taxpayers and re-register existing taxpayers with the sales tax department under the new proposed registration... Lenders cut markup on Hubco loan KARACHI, Jan 8: Hubco has managed to persuade a consortium of its local lenders led by National Bank to reduce the markup on a Rs2 billion existing loan. The members of... PARCO gives 35pc cash dividend KARACHI, Jan 8: The Pak Arab Refinery has decided to give 35 per cent cash dividend to its shares holders for the year ending on June 30, 2002, says a press... Ishrat sees 6pc GDP growth in 2004-05 KARACHI, Jan 8: Pakistan’s central bank said on Wednesday the country was likely to hit six per cent economic growth by the financial year 2004-05.... Rs299m 2nd TFC issue by Security Leasing KARACHI, Jan 8: Pak-Oman Investment Company has advised and arranged the 2nd TFC issue by Security Leasing Corporation Ltd of Rs299 million for which a public offering of Rs60 million will... Foreign portfolio investment ISLAMABAD, Jan 8: In order to provide maximum information to the investors in the capital market, the Securities and Exchange Commission of Pakistan (SECP) has requested the State Bank to periodically... Ginners seek TCP intervention KARACHI, Jan 8: Vice-chairman, Pakistan Cotton Ginner’s Association (Bahawalpur Circle) Haji Muhammad Ibrahim has urged the Trading Corporation of Pakistan (TCP) to intervene in the market as the second buyer to... Honda TOKYO, Jan 8: Japan’s number two car maker Honda will invest about $30 million in a US plant, increasing output by 50 per cent and creating 200 new jobs in response... Stock market undergoes mild correction KARACHI, Jan 8: Stocks on Wednesday underwent a mild correction as investors took profits at the inflated levels on the blue chip counters but the underlying sentiment remained uppishly inclined.... Opec looks set to hike output: Ministers meet on 12th DUBAI, Jan 8: OPEC producers on Wednesday called an emergency weekend meeting to decide how much more crude to pump to prevent a oil price came in the wake of long-running... Cotton market lacks lustre KARACHI, Jan 8: Cotton market on Wednesday passed through a relatively dull trading session as both ginners and spinners kept to the sidelines most of the time awaiting new developments on... Turkey announces economic measures ANKARA, Jan 8: The Turkish government announced on Wednesday a series of measures to cut spending and boost revenues as it aimed to keep a fragile recovery on track.... EPZ being set up in Gujranwala SIALKOT, Jan 8: An Export Processing Zone is being established at Gujranwala costing Rs99.40 million, official sources told APP on Wednesday.... Germany needs painful steps to cut deficit BERLIN, Jan 8: Germany will have to take “necessary and probably painful measures in a number of areas” to assure that its public deficit is reduced, the finance ministry said Wednesday.... Exports to Kuwait rise KUWAIT CITY, Jan 8: Pakistan exports to Kuwait increased to $58.355 million in the financial year 2001-02 as compared to $45.815 million during the fiscal 2000-01. And according to the figures... Karachi Port operations KARACHI, Jan 8: Three ships carrying general cargo, rock phosphate and containers are due to arrive at the outer anchorage on Thursday, according to KPT sources.... Germany, France asked to cut deficits BRUSSELS, Jan 8: The European Commission on Wednesday urged Germany and France to curb their ballooning deficits, while defending euro-zone rules that force countries to tighten their belts despite the economic...

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