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| May 14, 2003 | Wednesday | Rabi-ul-Awwal 11, 1424 |
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Tata to start operations in Pakistan from Oct: Joint venture in tea making
KARACHI, May 13: Indian tea giant Tata is arriving in Pakistan next October with the UK-based Tetley Tea as its front to begin blending at Hub near Karachi, and marketing in... 
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Trade bodies oppose sick units’ sale
KARACHI, May 13: The representative bodies of business community have asked the government to direct the Corporate and Industrial Restructuring Corporation (CIRC) not to auction sick units, instead they should be...
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Banking sector flush with liquidity: NBP AGM held
KARACHI, May 13: The banking sector is flush with liquidity since as much as Rs150 billion had been ‘dis-intermediated’, which otherwise would have been borrowed from banks, said Syed Ali Raza,...
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PTA for cut in import duty on tea
KARACHI, May 13: Pakistan Tea Association (PTA) has urged the government to reduce the import duty on tea to 10 per cent from 25 per cent in order to discourage smuggling....
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PS profit
ISLAMABAD, May 13: Industries and Production Minister Liaquat Ali Jatoi said on Tuesday that Pakistan Steel’s annual profit was expected to touch Rs1 billion by the end of the current financial...
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Profit-selling halts run-up on stock market
KARACHI, May 13: Stocks on Tuesday failed to sustain the earlier run-up and reacted, as a prominent section of retailers took profits at the inflated levels in the absence of strong...
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MoU signed to protect auto parts industry
ISLAMABAD, May 13: Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Automotive Parts and Accessories Manufacturers (PAPAAM) have signed a memorandum of understanding (MoU) aiming at providing protection to the...
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IMF chief says dollar decline still orderly
GENEVA, May 13: The depreciation of the dollar is still within “orderly” limits but any acceleration in its decline should trigger an international reaction, the managing director of the International Monetary...
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Govt not to allow import of used cars
ISLAMABAD May 13: Federal Minister of Industries and Production Liaquat Jatoi has assured the automotive industries that the government will be taking strict action against smuggling, dumping and under-invoicing as such...
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US trade gap widens in March
WASHINGTON, May 13: The US trade deficit widened in March to its second highest level on record, as a sharp rise in oil prices ahead of the war in Iraq boosted...
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PSO sell-off in Q1 of 2003/04
ISLAMABAD, May 13: Pakistan plans to complete the sale of 51 per cent stake of Pakistan State Oil in the first quarter of fiscal 2003/04 (July-June), a government official said on...
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EU-ASEAN free-trade initiative next year
SINGAPORE, May 13: The European Union and Southeast Asia will launch an initiative next year that could pave the way for a wide-ranging free trade area between the two regions, German...
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Cotton prices firm up on fresh buying
KARACHI, May 13: Cotton prices on Tuesday showed firm trend as a leading group of spinners was back in the market and indulged in a big-lot business in the backdrop of...
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ICP sell-off after June
KARACHI, May 13: The Investment Corporation of Pakistan (ICP) will get all its liabilities settled by June 30 next and then it will be handed over to the government to sell...
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Eurozone 2006 growth target abandoned
BRUSSELS, May 13: France threw a new spanner into the euro zone’s stuttering Stability and Growth Pact on Tuesday by claiming that a 2006 target for member countries to balance their...
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New soft drink for Gulf
PARIS, May 13: French entrepreneur Bertrand Cluzel says that if all goes to plan he should be producing by the end of the year a new soft drink, especially destined for...
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SMEs definition
KARACHI, May 13: The Karachi Chamber of Commerce and Industry (KCCI) and Union of Small & Medium Enterprises (Unisame) have agree to find a uniform definition for small and medium enterprises...
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Karachi Port operations
KARACHI, May 13: Four ships carrying containers and steel are expected to arrive at the outer anchorage on Wednesday, according to a KPT activity report....
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Tax shortfall
LUEBBENAU, May 13: The German government expects tax revenues in 2003 to be nine billion euros lower than predicted in November, a source close to a panel of experts assessing the...
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Dollar higher against yen
LONDON, May 13: The euro was wavering around the $1.15 mark on Tuesday in a volatile market as traders absorbed fresh comments from US Treasury Secretary John Snow and nervously awaited...
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