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March 4, 2003 Tuesday Zul Hijjah 30, 1423 Wheat millers short of bank finances KARACHI, March 3: Flour millers in Sindh are facing difficulty in getting loans from banks to buy wheat from the growers. Many of them say if they fail to get loans... War in Iraq may not hit bourses KARACHI, March 3: Stock markets in Pakistan are unlikely to be hit by a war in Iraq, a poll of five equity strategists at brokerage firms, that trade on the Karachi... Cabinet body meeting ends inconclusively: Fertilizer price ISLAMABAD, March 3: A meeting of the cabinet committee on fertilizer, set up by the prime minister to reduce fertilizer prices, remained inconclusive on Monday, though the prime minister’s adviser on... Orascom to increase investment in Pakistan ISLAMABAD, March 3: Orascom, encouraged by enabling investment climate in Pakistan and its experience of doing business here, would increase investment in the country.... Petroleum exploration licence granted ISLAMABAD, March 3: The government on Monday granted a petroleum exploration licence to a four-member joint venture of local and foreign companies over an area of 770.29 sq. kilometre in district... Major economic indicators perform well: Mid-year review ISLAMABAD, March 3: All major economic indicators have performed well during the first half of 2002-03, making the job of the government possible to achieve 4.5 per cent GDP growth target,... Rules for GP fund investment awaited KARACHI, March 3: Pakistan has allowed state-owned provident funds to invest in local capital markets, but such investments will only be possible when the stock market regulator finalizes the investment rules,... Arif Habib Investments funds KARACHI, March 3: Arif Habib Investments announced on Monday that total funds under the management of the company stood at Rs2.2 billion.... Oil prices LONDON, March 3: Oil prices slumped on Monday in volatile trading as US war plans suffered a blow after Iraq destroyed more banned missiles and the Turkish parliament rejected the deployment... Progress of 270 projects reviewed ISLAMABAD, March 3: The government has undertaken a review of implementation progress of 200 projects to speed up their working and ensure timely completion by June 2003.... Pakistan, ADB sign agreements ISLAMABAD, March 3: Pakistan and the Asian Development Bank (ADB) on Monday signed three major, umbrella agreements and other related loan and project agreements in Manila.... KSE-100 index surges 119 points on heavy buying KARACHI, March 3: The KSE-100 share index on Monday confidently breached through two successive barriers on heavy buying in the pivotals, heralding the return of a bull market after over a... IMF not satisfied with Wapda performance WASHINGTON, March 3: The International Monetary Fund has observed that the financial situation of the Water and Power Development Authority fell far short of its objectives.... Karachi Port operations KARACHI, March 3: Cargo handling activity at the Karachi port on Monday was maintained on the higher as the total... Pakistan, Afghan JEC may be held in Kabul ISLAMABAD, March 3: Proximity of Afghanistan and Pakistan, their cultural links and affinity provide them an enviable synergic atmosphere to increase bilateral trade, accelerate Pakistan’s contribution in reconstruction of Afghanistan and... SPI registers sharp decline ISLAMABAD, March 3: Sensitive Price Indicator (SPI) during the week ending Feb 27, 2003 registered a relatively sharp decline of 0.34 per cent from the previous week, according to weekly price... IMF cuts UK’s GDP growth forecast WASHINGTON, March 3: The International Monetary Fund... Trading fails to pick up on cotton market KARACHI, March 3: Business activity on the cotton market on Monday failed to pick up significantly as spinners and mills kept to the sidelines after ginners further raised their asking prices... Dollar sits tight as market goes back to basics LONDON, March 3: The dollar zig-zagged in a tight range against other leading currencies on Monday as dealers brushed aside the latest political developments over the Iraq crisis and focused on... Palm oil prices lower KUALA LUMPUR, March 3: Malaysian palm oil futures closed lower on Monday as players unwound positions after India left customs duties on edible oil unchanged in its budget and ahead of...

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