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| March 12, 2003 | Wednesday | Muharram 8, 1424 |
Opec leaves production quotas unchanged
 VIENNA, March 11: Opec has decided to leave oil production quotas unchanged, Saudi Oil Minister Ali al-Nuaimi said on Tuesday....
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Provinces seek relief for next fiscal year: New NFC formula being drawn
KARACHI, March 11: The Monday meeting of the federal and provincial finance ministers in Islamabad has failed to pacify the provinces and three provinces — Sindh, Balochistan and NWFP — are...
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Use of imported coal in cement industry rises
KARACHI, March 11: The rising number of cement makers switching to coal from fuel oil is expected to enhance the dependence on imported coal to 2-2.5 million tons in the next...
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Support at dip helps index recover 30 points
KARACHI, March 11: Stocks on Tuesday maintained their recovery drive aided by the advent of active financial support at the lower levels followed by some positive developments on the Iraq war...
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Fertilizer makers agree to cut prices
ISLAMABAD, March 11: The fertilizer manufacturers agreed on Tuesday to reduce prices between Rs10 and Rs15 per bag to meet Prime Minister Mir Zafarullah Jamali’s demand to provide relief to the...
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Gold price tumbles amid UN deadlock
LONDON, March 11: Gold stumbled in European trade on Tuesday as the dollar regained ground against the euro and the UN Security Council appeared deadlocked over war in Iraq....
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UBL declares Rs2.8 billion pre-tax profit
KARACHI, March 11: The United Bank Limited has declared a pre-tax profit of Rs2.8 billion for the year ended December 31, 2002 — the first audited results since the privatization of...
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Egypt freezes imports
CAIRO, March 11: Egypt’s government has decided to freeze state imports for three months except for basic food items due to the weak local currency and a shortage in hard currency,...
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Investment avenues
ISLAMABAD, March 11: A five-member high-level delegation from Saudi Arabia led by Prince Turkey Bin Abdul Aziz held talks with the Adviser to Prime Minister on Privatization and Investment, Dr Abdul...
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Govt orders release of Rs25-30bn ST refund
ISLAMABAD, March 11: The government on Tuesday directed the Central Board of Revenue (CBR) to release Rs25-30 billion sales tax refunds to the exporters immediately and decided to further improve the...
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Machinery imports swell by 36.97pc
ISLAMABAD, March 11: The imports of machinery group, including roadmotor vehicles, textile machinery, etc., swelled by 36.97 per cent during the first eight months of 2002-03, raising its share in the...
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NWFP gets Rs10bn under FDP share: July-Jan
PESHAWAR, March 11: The NWFP received about Rs10bn from the Federal Divisible Pool (FDP) during the first seven months of the current financial year, according to official sources....
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Firm trend persists on cotton market
KARACHI, March 11: Firm trend was again seen on the cotton market on Tuesday as leading spinners resumed their big-lot business amid fears of short supply owing to Ashura holidays....
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Karachi Port operations
KARACHI, March 11: Five ships carrying general cargo and crude oil are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Pakistan, Oman JMC for boosting trade
ISLAMABAD, March 11: Pakistan and Oman has decided to strengthen their Joint Ministerial Commission (JMC) to promote trade between the two countries....
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Computerized ST refund system
KARACHI, March 11: Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) chairman Fawad Ijaz Khan has expressed the hope that new computerized sales tax refund system (NCSTRS) will be instrumental in...
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Ratings upgraded
LAHORE, March 11: Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of Dawood Leasing Company Limited (DLC) to “A+” (single A plus) and maintained the short-term rating at...
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Small exporters’ problems
KARACHI, March 11: The Union of Small and Medium Enterprises (Unisame) has received complaints from its medium size spice manufacturers and exporters that their association is not active in resolving their...
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EPZ at Pindi Bhatian likely
ISLAMABAD, March 11: The government is likely to establish an Export Processing Zone (EPZ) at Pindi Bhatian to enhance exports from these areas....
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Palm oil prices
KUALA LUMPUR, March 11: Malaysia’s palm oil futures remained softer in late trade on Tuesday, closing around the day’s low, weighed down by prospects of poor exports and rising stocks....
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