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May 17, 2003 Saturday Rabi-ul-Awwal 14, 1424 KSE creates history: 3,000-point barrier broken KARACHI, May 16: The KSE 100-share index on Friday breached through the psychological barrier of 3,000 points after several abortive attempts as a judicious combination of speculative and institutional buying, putting... US soyabean oil pushes up import bill by 325pc KARACHI, May 16: Pakistan has received more than 73,000 tons of soyabean oil from the US against reimbursement of the F-16 payments, which has pushed up soyabean oil import bill by... Inflation up by 3.27 per cent in 10 months ISLAMABAD, May 16: The rate of inflation (Consumer Price Index) during the first 10 months of 2002-03 increased by 3.27 per cent the corresponding period of previous year.... US inflation plunges to 37-year low WASHINGTON, May 16: Underlying US inflation plunged to a 37-year low in April, data showed on Friday, ramping up deflation fears in the stubbornly sluggish postwar economy.... Textile to draw $2 billion investment ISLAMABAD, May 16: The private sector will invest over $2 billion in the textile sector during the next three years period, according to “Textile Vision 2005”, placed before the participants of... Return on deposits falls below 3pc KARACHI, May 16: People are getting a weighted average return of 2.81 percent on their bank deposits—and bankers say it may further go down in the days to come. This low... Petrol price cut by Rs1.25 KARACHI, May 16: The Oil Companies Advisory Committee (OCAC) has reduced the petrol prices by Rs1.25 and other petroleum products by 0.29 paisa to Rs1.77 per litre. The new prices will... Centre to release Rs1bn for Thar coal ISLAMABAD, May 16: Minister for Finance Shaukat Aziz on Friday said the Sindh government has asked for immediate Rs1 billion funding for first phase of Thar coal project and the centre... IPCCI chief nomination next month KARACHI, May 16: Top business leadership of Pakistan will nominate the president of India-Pakistan Chamber of Commerce and Industry (IPCCI), possibly next month in New Delhi, while the co-president of the... Merger talks LONDON, May 16: South African miner AngloGold, the world’s second-largest gold producer, is in talks to buy Ghana-based rival Ashanti Goldfields in an all-share deal, the companies announced Friday.... Price battle continues on cotton market KARACHI, May 16: Cheerless trading conditions were witnessed on the cotton market on Friday as both the buyers and the sellers failed to find a meeting ground partly because of a... Drawback under DTRE scheme may be allowed ISLAMABAD, May 16: The government is considering a proposal to allow a certain amount of duty drawback on export of goods under the duty and tax remission for export (DTRE) scheme... Euro-zone inflation falls BRUSSELS, May 16: Euro-zone inflation over 12 months fell to 2.1 per cent in April from 2.4 per cent in March, the EU statistics office Eurostat reported on Friday.... EPB extends support to KCCI for trade fair KARACHI, May 16: Minister of state and chairman Export Promotion Bureau Tariq Ikram on Friday promised to extend full cooperation to the Karachi Chamber of Commerce and Industry in its proposed... Karachi Port operations KARACHI, May 16: A dozen ships carrying chemical, tallow, general cargo and containers are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... ‘Govt now focussing on growth’ KARACHI, May 16: State Bank Governor Dr Ishrat Hussain has said the government is now focussing on growth to provide socio-economic infrastructure and promote investment, production and export on one hand,... Snow for stepping up growth DEAUVILLE, May 16: US Treasury Secretary John Snow said on Friday he wanted to press fellow finance ministers from leading industrial nations to step up the pace of economic growth to... Hand-knotted carpet fair KARACHI, May 16: The Export Promotion Bureau in collaboration with the Pakistan Carpet Manufacturers and Exporters Association is organizing ‘Pakistan hand-knotted carpet’ exhibition at the Karachi Expo centre from August 28-31.... Collectorate asked to decide case ISLAMABAD, May 16: Federal Tax Ombudsman Justice Saleem Akhtar has directed the collector of sales tax (West), Karachi, to decide the issue of withheld refund of a complainant within 30 days.... US, S. Korea trade talks collapse SEOUL, May 16: Trade talks between South Korea and the United States on stiff tariffs imposed by Washington on computer chip imports have collapsed, officials said here on Friday....

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