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March 16, 2003 Sunday Muharram 12, 1424 Deadline expires for money changers: Currency export KARACHI, March 15: The State Bank will issue two more licences to foreign exchange companies early next week — as money changers will stop exporting foreign currencies from Monday. The SBP... Industrial plot prices rise sharply KARACHI, March 15: Prices of open industrial plots in various industrial areas have witnessed a boom in the last one and half years. Its impact has also filtered down in many... Industry slow in implementing social standards KARACHI, March 15: Pakistan’s industry is reluctantly taking steps to comply with the international health, environmental, labour and social standards in their factories and offices to meet the 2005 deadline stipulated... SPI shows 0.16pc increase ISLAMABAD, March 15: Sensitive Price Indicator (SPI) increased by 0.16 per cent during the week ending March 11 as compared to previous week, according to the weekly price data released by... Opening up of derivatives market KARACHI, March 15: Encouraged by three leading foreign banks, the State Bank is now toying with the idea of opening up gradually the derivatives market to hedge risks of interest and... Badla rates remain below 6pc mark KARACHI, March 15: Investment on the carryover market showed a modest increase during the holiday-shortened week but it did not match the 3.7 per cent increase in the KSE 100-share index... Remittance card scheme reviewed ISLAMABAD, March 15: A meeting on Saturday reviewed foreign exchange remittance card scheme being run by Overseas Pakistanis Foundation (OPF) aimed at encouraging Pakistanis living abroad to remit their savings to... Gold price falls KARACHI, March 15: The price of yellow metal on local market on Saturday continued downward drive.... Polyester fibre ISLAMABAD, March 15: The Commerce Minister, Humayun Akhtar has assured polyester manufacturers that their problems will be looked into and the final decision regarding duty drawback rates will be taken after... 0.35m ton wheat export may be allowed ISLAMABAD, March 15: The government is likely to allow export of around 0.35 million tons wheat till the arrival of fresh crop.... State Bank clarifies KARACHI: The State Bank has issued a clarification on a report published in Dawn on March 13 about the lowering of the private sector credit target to Rs50 billion from Rs94... Opec oil output surges NICOSIA, March 15: Crude production from the Opec oil cartel soared 8.6 per cent or 2.217 million barrels a day in February to 27.88 million bpd, the Middle East Economic Survey... Oil dives again as dealers look beyond war NEW YORK, March 15: World oil prices slumped on Friday as investment hedge funds bailed out of crude markets in anticipation that a US war against Iraq could start soon and... Dollar rises over European currencies NEW YORK, March 15: Investors favored the dollar over European currencies on Friday as delays in diplomatic maneuvering on Iraq signaled the United States and Britain were working hard to avoid... German panel lays out plans for taxation BERLIN, March 15: A German government commission set up to advise on amending the current system of pensions taxation proposes higher tax on pensions and tax relief on pension contributions, the... NY sugar futures finish higher NEW YORK, March 15: CSCE world raw sugar futures snapped back from a nine-week low to finish higher Friday on trade and speculative buying, with most operators saying a turn south... NY cotton at 2-year high NEW YORK, March 15: NY cotton futures finished at a fresh two-year zenith Friday on steady speculative and trade buying in the market, although operators feel a near-term top is likely... S. Arabia to pay $427m arrears RIYADH, March 15: Saudi Arabia’s King Fahd ordered his government on Saturday to pay 1.6 billion riyals ($427 million) in arrears to local farmers for their 1999/2000 harvest, the official Saudi... New York gold 3-month low NEW YORK, March 15: Gold steadied above a three-month low on Friday, settling into a range near fair value after investors with safe-haven positions threw in the towel on Thursday, dealers... IMF wants to get some respect and be understood WASHINGTON, March 15: The International Monetary Fund said on Friday it can live with controversy and being unpopular but it would like to be understood and respected even if has to...

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