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May 6, 2003 Tuesday Rabi-ul-Awwal 3, 1424 Business move to revive chamber: Pakistan, India ties KARACHI, May 5: While the political leaders of India and Pakistan were engaged in exchanging messages and talking to each other on telephone to explore normalisation of bilateral relations last week,... EU asked to remove dumping duty: Bed-linen ISLAMABAD, May 5: Pakistan has asked the European Union to withdraw anti-dumping proceedings against Pakistani bed-linen immediately which was violative of the Doha round of trade negotiations.... NWFP gets Rs419m hydel profit PESHAWAR, May 5: Water and Power Development Authority (Wapda) has released Rs419m to NWFP against its net hydel profit share for the current financial year, according to official sources.... Investment in IT, telecom sectors sought KARACHI, May 5: The Federal Minister for Information Technology and Telecommunication, Awais Ahmad Khan Leghari, on Monday called upon financial institutions and corporates to put to best use their excess liquidity... Exports rise to $8.8bn in 10 months ISLAMABAD, May 5: The country’s exports during July-April period of the current fiscal 2002-03 were recorded around $8.849 billion, showing 20.83 percent increase over the exports worth $7.824 billion realized in... IDBP sell-off in 2003-04, IMF told ISLAMABAD, May 5: The government has assured the IMF to privatize the Industrial Development Bank of Pakistan (IDBP) in 2003-04 for which the bank has been disallowed to take any high-... DNA testing lab likely for Basmati ISLAMABAD, May 5: The government is likely to establish DNA testing facility for Basmati rice in the country in collaboration with the Food Standards Agency of the United Kingdom.... Engro acquires new business KARACHI, May 5: Engro Chemical Pakistan Limited—the fertiliser producing company—announced on Monday that it had acquired controlling interest in the Automation & Control division of Innovative (Private) Limited, a Lahore-based company.... Aga Khan interested in HBL LAHORE, May 5: The government led by Prime Minister Zafarullah Khan Jamali has undertaken a record privatisation of Rs4 billion in its initial months which is unprecedented as compared to any... EU sets up Asia Invest fund KARACHI, May 5: The European Union (EU) has launched a fund — Asia-Invest II (2003-2007) — for the promotion of business cooperation with small and medium enterprises (SMEs) from Asian countries.... KSE index gains 51 points on peace initiatives KARACHI, May 5: Stocks on Monday posted widespread gains as investors continued to build up long positions on selected counters aided by hopes that the current peace moves may normalize relations... ICCI task force to assist SMEs KARACHI, May 5: Secretary General of Islamic Chamber of Commerce and Industry (ICCI), Aqeel A. Al Jaseem has said that the ICCI has set up a task force to assist small... Cotton prices inch up amid slow trading KARACHI, May 5: Cotton prices on Monday rose modestly but physical trading remained slow as spinners and mills were not inclined to making bigger commitments.... MashreqBank ratings revised KARACHI, May 5: JCR-VIS Credit Rating Company said on Monday that it had revised medium to long-term entity rating of MashreqBank psc—Pakistan Branches (MashreqBank) to triple B plus and the short-term... Al Meezan gets asset management licence ISLAMABAD, May 5: Securities & Exchange Commission of Pakistan (SECP) has granted an asset management licence to Al Meezan Investment Management Limited (AMIM) for launching Shariah- compliant open-ended Unit Trust Schemes.... Uthal Textile Mills being revived KARACHI, May 5: Federal Minister for Industries and Production, Liaquat Ali Khan Jatoi has said that arrangements are being made to revive Uthal Textile Mills, that would reopen 3,000 jobs.... GCC investors KARACHI, May 5: Mohamed Abdullah Amir Al-Falasi, Consul General of UAE, Mohammed Hassan J. Al-Jabir, Vice Consul of the State of Qatar and Aqeel Ahmed Al Jaseem, Secretary General of Islamic... Karachi Port operations KARACHI, May 5: Five ships carrying containers and ethanol for discharge and for loading molasses are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Tax exemption limit KARACHI, May 5: The Union of Small and Medium Enterprises (Unisame) has asked the ministry of finance (MoF) to enhance the tax exemption limit from Rs80,000 to Rs150,000 for small and... Euro falls PARIS, May 5: The euro fell slightly against the dollar in Europe on Monday in quiet trading before a meeting on interest rates on Tuesday by the US Federal Reserve and...

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