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| May 18, 2003 | Sunday | Rabi-ul-Awwal 15, 1424 |
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Govt may retain 25pc shares of KESC
KARACHI, May 17: The strategic investor for the Karachi Electric Supply Corporation (KESC) is likely to be offered 73 per cent shareholding as the government wants to retain a minimum of... 
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WTO condones US rules of origin for textile
KARACHI, May 17: Exporters of textiles and clothing to US were disappointed by the World Trade Organization’s (WTO) ruling that the United States’ controversial rules of origin for textile and apparel...
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IFC offers $9.25m for container terminal
KARACHI, May 17: International Finance Corporation (IFC) will give $9.25 million for development and operation of a container terminal in Pakistan. The amount includes $7.75 senior loan and $1.50 sub-ordinate loan....
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Badla rates fall
KARACHI, May 17: Badla rates on the carryover market last week showed a modest fall at six per cent as compared to 6.8 per cent a week earlier because of easy...
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ECO on a failed RCD path
KARACHI, May 17: It was about a decade ago that the ten-member Economic Cooperation Organization (ECO) was set up to promote regional trade but it has brought no meaningful gains. Pakistan’s...
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Industrial units in EPZs allowed power plants
ISLAMABAD, May 17: The government has decided to allow industrial units in all the proposed export processing zones (EPZ) to start self power generation to make local products competitive in the...
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Package for traders likely on 27th
KARACHI, May 17: Prime Minister Mir Zafarullah Khan Jamali is expected to announce an export-oriented package for the businessmen on May 27 here....
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Dollar slips on Group of Seven expectations
NEW YORK, May 17: The dollar extended losses in late New York trading on Friday, weakened by speculation that the Group of Seven finance ministers will withhold comment on foreign exchange,...
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US adviser says Iraq may ignore Opec quotas
WASHINGTON, May 17: The US adviser to Iraq’s Ministry of Oil said it may be in that country’s best interest to disregard quotas set by Opec and export as much oil...
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New York cotton futures high
NEW YORK, May 17: NY cotton ended fractionally higher Friday on buying by trade and speculative accounts, with analysts saying the market may build on its gains going into next week....
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Indian forex reserves surge
MUMBAI, May 17: Healthy trade and investment inflows and the euro’s strength against the US dollar helped India’s foreign exchange reserves rise to a fresh peak in the week to May...
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Thai rice exports seen down
BANGKOK, May 17: Thailand’s rice exports are expected to dip slightly this year but prices are seen stronger, a minister said on Saturday....
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‘No financial crisis’
TOKYO, May 17: Japanese Financial Services Minister Heizo Takenaka said on Saturday he saw no financial crisis as a result of problems in the banking system....
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Annual review of BD govt’s performance
DHAKA, May 17: The development partners of Bangladesh began on Saturday the annual review of government’s performance in different sectors, raising critical issues of rampant corruption and politicization and deteriorating law...
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US farm subsidies opposed
DEAUVILLE, May 17: US farm subsidies were directly opposed on Friday by all of the other members of the world’s leading industrial economies at the Group of 7 meeting here, a...
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Swedes against euro
STOCKHOLM, May 17: Swedes who do not want their country to adopt Europe’s common currency have extended their lead over opponents four months before a national referendum on euro membership, a...
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Global commodities’ prices bolstered by dollar
LONDON, May 17: Global commodities prices cashed in on recent dollar weakness again this week as buyers in Europe and Asia took advantage of their stronger currencies to snap up dollar-denominated...
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Dhaka stock markets steady
DHAKA, May 17: Dhaka stocks closed steady on Saturday in thin trading as investors watched a donors’ meeting reviewing Bangladesh’s economy, brokers said....
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NWFP gets Rs245m under GST share
PESHAWAR, May 17: The NWFP government has received Rs245 million under the head of general sales tax on services during the first ten months, making 60 per cent of the projected...
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UK govt moves to deny Brown-Blair euro rift
LONDON, May 17: British Prime Minister Tony Blair and his Finance Minister Gordon Brown took the unprecedented step on Friday of going public to deny any rift over joining Europe’s single...
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