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April 5, 2003 Saturday Safar 2, 1424 Average rate of return falls below inflation KARACHI, April 4: The weighted average rate of return on bank deposits has fallen below inflation rate. The latest State Bank statistics posted on its website shows that the weighted average... Aventis amalgamates with Rhone Poulenc KARACHI, April 4: The Aventis Pharma (Pakistan) Limited — a stock market listed pharmaceutical company — announced on Friday that it has amalgamated business with another private pharmaceutical firm, the Rhone... Govt to set $1.5bn target for 2003-04: Foreign investment ISLAMABAD, April 4: The government plans to fix $1.5 billion foreign investment target in 2003-04 after having received sizable investment during the current financial year, says Chairman Board of Investment (BoI),... Kabul promises multiple visa, raise in flights: Pakistan-Afghan trade PESHAWAR, April 4: Weekly flight operations between Pakistan and Afghanistan would shortly be increased, besides reducing the air fare and granting multiple visas to Pakistani businessmen by the Afghan government.... Port Qasim collects Rs33bn in 9 months KARACHI, April 4: The collectorate of Port Qasim collected Rs33 billion in duty and taxes during first nine months (July-March) of current fiscal, showing an increase of 43 per cent over... Govt to launch 3 studies on farm sector ISLAMABAD, April 4: The federal government has decided to launch three studies on agricultural sector to put in place a comprehensive and integrated agriculture policy so as to increase its share... Adamjee Insurance returns to profitability KARACHI, April 4: Adamjee Insurance Company Limited announced after tax profit amounting to Rs219 million for the year ended December 31, 2002, which signalled the return to profitability from the staggering... Govt may ask TCP to buy 0.5m tons of onions ISLAMABAD, April 4: The government is expected to direct the Trading Corporation of Pakistan (TCP) to purchase around 0.5 million tons of surplus onions from the farmers for export.... Pakistan’s software exports decline LAHORE, April 4: The prospects of software exports from Pakistan improving in the short-term remain grim because of a low demand in the US software market since the fateful events of... Roosevelt Hotel to be sold in 3rd quarter ISLAMABAD, April 4: A high-level meeting here on Friday decided to sell the PIA’s Roosevelt Hotel at New York during the third quarter of 2003.... Oil prices slip LONDON, April 4: World oil prices fell back on Friday in response to rapid US-led advances towards Iraqi President Saddam Hussein’s seat of power as well as signs of a gradual... Stocks finish weekend session with 25 points gain KARACHI, April 4: Stocks on Friday shrugged off the overnight hesitancy as investors were back in the market and covered positions at the lower levels aided partly by reports that the... Market unimpressed by lower crop figures KARACHI, April 4: The cotton market on Friday played terribly cool to the lower final crop figures as prices did not show much change, but rather some of the deals in... Two free trade zones to be set up FAISALABAD, April 4: The Ministry of Commerce is actively considering a proposal to set up two Free Trade Zones (FTZs) to boost exports of the country, said Federal Minister for Commerce... Asian stock markets close firmer TOKYO, April 4: Asian stock markets were firmer on Friday as investors bought shares on hopes for a quick end to the war in Iraq after the US army took up... Asia faces difficult economic situation, says ex-IMF chief MANILA, April 4: Asia and much of the world face serious economic problems due to the Iraq war, former International Monetary Fund (IMF) managing director Michel Camdessus said on Friday, although... Dollar higher against yen LONDON, April 4: The dollar crept higher on Friday as the latest advances by US forces battling for control of Baghdad airport helped to cushion the impact of recent weak US... Palm oil prices lower KUALA LUMPUR, April 4: Malaysian palm oil futures closed lower on Friday after private forecaster Ivan Wong raised his estimate for March production, traders said.... SSGC to add 2,500 new customers KARACHI, April 4: As many as 2,500 new customers will be added to the Sui Southern Gas Company (SSGC) distribution system after the completion of Suhbat Pur gas pipeline project near... BD banks asked to raise paid-up capital DHAKA, April 4: The Bangladesh Bank has asked all the private sector commercial banks, including the foreign banks, to raise their paid-up capital to Taka 1,000 million by March 10, 2005....

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