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January 19, 2003 Sunday Ziqa'ad 15, 1423 FDI rises by 164pc in July-Dec ISLAMABAD, Jan 18: The foreign direct investment (FDI) increased by 164 per cent to $540 million during the first six months of 2002-03, compared to $205 million during the corresponding period... Meeting the export challenge in US Although the US lifted some sanctions against Pakistan as a reward for its cooperation in the war on terrorism, proper advantage of the facility was not taken by Islamabad. Many restrictions... ‘Pakistan set to achieve higher growth’ ISLAMABAD, Jan 18: Head of the four-member visiting IMF mission George T. Abed has said that homegrown, indigenous, prudent and sound economic policies and reform agenda pursued by the government of... Major flaw surfaces in DTRE rules KARACHI, Jan 18: A major flaw has surfaced in the Duty and Tax Remission for Export (DTRE) rules as the system does not have a provision of duty drawback cover for... SPI records slight increase ISLAMABAD, Jan 18: The Sensitive Price Indicator (SPI) recorded a further increase of 0.14 per cent during the week ended Jan 16, 2003, as compared to previous week.... Bubble economy in the making? KARACHI, Jan 18: Is excessive supply and low demand of money in commodity producing sectors creating an irrational exuberance in soaring asset markets and a bubble economy?... Badla rates shoot up at KSE, LSE KARACHI, Jan 18: The average badla rates at the Karachi Stock Exchange topped 47 per cent on Friday, while at the Lahore Stock Exchange they sky-rocketed to 77 per cent.... Reinsurers refuse cover against terrorism KARACHI, Jan 18: The reinsurers continue to ignore the request from insurance companies to provide them cover against terrorism and sabotage.... Oil hits $34 as Powell issues Iraq warning NEW YORK, Jan 18: World oil prices hit fresh two-year highs on Friday as US Secretary of State Colin Powell forecast that within two weeks there will be a persuasive case... EU to beef up powers to fight counterfeiting BRUSSELS, Jan 18: The European Union is to beef up the powers of its customs authorities next week to stem a huge inflow of counterfeit goods, EU officials said on Saturday.... Indian oil firms sale seen taking 7 more months NEW DELHI, Jan 18: The keenly awaited privatization of two Indian oil refiners, delayed by differences among lawmakers, could take another six to seven months to complete, a top government official... NY cotton ends softer on small speculative sales NEW YORK, Jan 18: NY cotton futures finished easier on Friday as small speculators sought to press the market south although solid trade buying at the lows prevented fiber contracts from... US stocks slide as corporate giants disappoint NEW YORK, Jan 18: Investors sold off stocks on Friday, pushing the Nasdaq to its biggest percentage loss in a month as poor outlooks from Microsoft Corp. and International Business Machines... Dollar falls on weak US data NEW YORK, Jan 18: The dollar fell on Friday after spate of poor US economic data gave traders, already biased against the dollar on fears about possible war in Iraq, another... Agencies may initiate inquiries against corrupt tax officials ISLAMABAD, Jan 18: The government will seek investigation agencies help to initiate inquiries against tax officials involved in corrupt practices in order to make tax machinery a taxpayers friendly organization.... Japan lowers economic assessment on weak factory output TOKYO, Jan 18: Japan’s government downgraded its key economic assessment on Friday for the third straight month due to slack factory production and consumer spending, although exports were seen offering a... US Senate works through massive spending bill WASHINGTON, Jan 18: Republicans and Democrats traded charges of fiscal irresponsibility for a second day on Friday as the Senate plowed through a $390 billion spending package wrapping up last year’s... Oil and gold prices surge as Iraq tensions mount LONDON, Jan 18: Oil prices soared to levels not seen in nearly two years this week as a jittery market speculated that the United States could use the discovery by UN... Incentives to EPZ investors ISLAMABAD, Jan 18: The government has decided to attract much-needed local and foreign investment by urgently removing some of the irritants/hurdles and offering fiscal and non-fiscal incentives to the investors.... Spinners lift all lots on cotton market KARACHI, Jan 18: Cotton market on Saturday remained in the tight grip of spinners who lifted all the lots offered for sale by the ginners followed by reports of unofficial reports...

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