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February 2, 2003 Sunday Ziqa’ad 29, 1423 Indians cheating buyers of ‘basmati’: Delhi sets standards KARACHI, Feb 1: The Indian government has admitted that its exporters have been cheating their foreign buyers by exporting ‘look-alike’ varieties in the name of basmati in the world market. In... Refund: CBR, exporters meet tomorrow ISLAMABAD, Feb 1: Top tax officials are meeting exporters on Monday in Lahore to resolve the pending refunds issue and other taxation measures related to exports.... Black economy growing at 10.6pc of GDP ISLAMABAD, Feb 1: The proportion of black economy in GDP has grown to more than 27 per cent and is increasing at the rate of 10.6 per cent.... State Bank clarification KARACHI, Feb 1: The State Bank of Pakistan has clarified a new item which appeared in a section of the Press on Saturday quoting SBP Governor, Dr Ishrat Husain as saying... SPI falls by 0.13 per cent ISLAMABAD, Feb 1: Sensitive Price Indicator showed 0.13 per cent decline during the week ending Jan 30, 2003, compared to preceding week, thanks to some let-up in market prices of a... Sugar, poultry become costlier KARACHI, Feb 1: Prices of sugar increased in the last one month by Rs2 per kg while rates of poultry bird also rose by Rs4 per kg. However, prices of vegetables,... Aramco eases cuts in oil exports to Japan RIYADH, Feb 1: With fears of disruption in oil supplies from this part of the world growing due to a possible war against Iraq, Saudi Aramco has eased cuts on crude... Double taxation ISLAMABAD, Feb 1: A two-member delegation of Jordan is arriving on Sunday to conclude a draft agreement on avoidance of double taxation with Pakistan in respect of income between the two... Joint mission WASHINGTON, Feb 1: A joint IMF-World Bank mission is to travel to Argentina next week, the IMF announced on Friday.... Integrated approach to investment promotion KARACHI, Feb 1: The high economic growth rate in several countries is largely explained by large-scale investment, often described as the engine of growth.... Dawood Cotton Mills KARACHI, Feb 1: Dawood Cotton Mills Limited makes a case of considerable corporate interest. Although a giant composite textile company, its earnings, if at all, from core business of sale of... Nasdaq tries helping itself by aiding its members NEW YORK, Feb 1: The Nasdaq Stock Market Inc. facing its lowest number of listed companies in 20 years, is now trying to give itself a helping hand by making it... Weaker dollar may boost US exports NEW YORK, Feb 1: The slump in the dollar, battered by investor fears about war in Iraq, has brought welcome relief to US manufacturers but could post some risks to the... NY cotton futures firmer NEW YORK, Feb 1: NY cotton futures vaulted to a strong close Friday as a better-than-expected US cotton annualized consumption number provided the catalyst for a robust surge in the market.... Oil hits S.Korea trade surplus in Jan SEOUL, Feb 1: South Korea’s trade surplus narrowed sharply in January to just $48 million from $704 million in December, hit by a surge in the country’s oil import bill, the... COMEX gold down NEW YORK, Feb 1: COMEX gold ended on Friday with modest losses as both the dollar and US equities charged higher on several strong economic reports, but gold traders said they... Indonesia to raise oil output by 50,000 bpd BALI, Feb 1: Indonesia plans to raise oil output by more than 50,000 barrels a day this year, and expects investment of up to $6 billion in the oil and mineral... NY sugar higher at finish NEW YORK, Feb 1: Raw sugar futures finished firmer on Friday amid late short-covering by small speculators, with most operators saying the market may reignite a rally which hoisted the sweetener... ARABIC saw profit slide in 2002 RIYADH, Feb 1: Al-Rajhi Banking and Investment Corp. (ARABIC), one of the largest expanding banking units in Saudi Arabia, said on Saturday its profits last year dropped 8.4 per cent.... Toyota TOKYO, Feb 1: A labour inspection office has ordered Japan’s top automaker Toyota Motor Corp. to pay allowances for overtime owed to some employees, a company spokesman said on Saturday....

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