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January 26, 2003 Sunday Ziqa’ad 22,1423 Top economies optimistic about growth DAVOS, Jan 25: Top economic policy makers from the world’s major industrialized economies rejected on Saturday widespread criticism that they were dragging their feet on efforts to restore growth.... Meezan Bank develops Islamic T-bills KARACHI, Jan 25: Meezan Bank Ltd. — the first Islamic bank in Pakistan — has developed the module of Ijara Sukook or Islamic treasury bills for liquidity management of Islamic banks.... Incentives for exports to Africa under study ISLAMABAD, Jan 25: The government is considering a package of incentives for exporters to explore new markets in the African countries.... Wheat disposal body meets tomorrow KARACHI, Jan 25: The Federal Minister for Food, Agriculture and Livestock (MINFAL), Yar Mohammad Rind will preside over Wheat Disposal Committee meeting on Monday to assess stock and crop position of... Gwadar chamber seeks soft loan QUETTA, Jan 25: The Gwadar Chamber of Commerce and Industry has called upon the government and the commercial banks to soften the loaning policy so that the local people should seek... ADB asks govt to simplify laws: SMEs development ISLAMABAD, Jan 25: The Asian Development Bank (ADB) has urged the government to simplify taxation and labour laws to develop Small and Medium Enterprises (SMEs).... TCP earns $113m through wheat export KARACHI, Jan 25: The Trading Corporation of Pakistan (TCP) has earned around $113 million through export of 0.946 million tons of wheat during last eighteen months (June 2001 to Jan 2003),... Dewan Salman Fibre KARACHI, Jan 25: There had been market talk — some time ago — of Dewan group giving a hard look at the possibility of merging all of its three textile companies:... Self-criticism within State Bank KARACHI, Jan 25: As part of the process of managing change, the State Bank has conducted internal and external stakeholders’ survey, described as an exercise in self-criticism, to get a feedback... ‘SE Asia’s economic fundamentals are positive’ SINGAPORE, Jan 25: Southeast Asia’s economic fundamentals remain positive compared to other emerging markets, Singapore’s Deputy Prime Minister Lee Hsien Loong said as he urged global investors to look at the... ‘ECB shows mediocre market predictability’ FRANKFURT, Jan 25: The International Monetary Fund criticised the European Central Bank for confusing markets and said it was less predictable than its central bank peers, the US Federal Reserve and... Could weak dollar reverse flight from US assets? NEW YORK, Jan 25: Global investors unsettled by US economic weakness, low rates of return and the threat of a Mideast war have roundly shunned the dollar, which analysts say could... US stocks tumble NEW YORK, Jan 25: Stocks tumbled to their lowest levels since October on Friday as the specter of a US war against Iraq loomed over a market already spooked by the... Opec may consider output cut in March DAVOS, Jan 25: The president of the Organization of Petroleum Exporting Countries (Opec) said on Saturday the oil cartel could consider a cut in output when it meets in March, to... Poland may impose 20pc capital gain tax in 2004 WARSAW, Jan 25: Poland’s Finance Ministry is considering the introduction a 20 per cent tax on capital gains at the beginning of 2004, the Rzeczpospolita daily reported on Saturday.... SABIC profit up by 60pc RIYADH, Jan 25: Saudi Industrial giant Saudi Basic Industries Corp (SABIC) said on Saturday its net profits jumped 60 per cent in 2002 from the previous year due to increased sales... NY cotton settles higher NEW YORK, Jan 25: NY cotton futures settled fractionally higher on Friday in action dominated by small speculators as fiber contracts were cast adrift by the absence of market-moving news.... Trading picks up on cotton market KARACHI, Jan 25: Physical activity on the cotton market on Saturday showed a modest expansion as spinners and mills covered their positions against forward sales of cotton yarn.... Jatoi for more share in Afghan rebuilding ISLAMABAD, Jan 25: Minister for Industries and Production, Liaquat Ali Jatoi has stressed the need for enhancing bilateral trade and maximum participation of Pakistan in re-construction of Afghanistan.... Jamali govt needs more efforts than mere lip service Attracting the much-needed local and foreign investments, accelerating the privatization process, generating more employments and alleviating poverty are some of the big challenges the Jamali government is faced with to turn...

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