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May 20, 2003 Tuesday Rabi-ul-Awwal 17, 1424 Chinese split units hit local AC industry LAHORE, May 19: Several hundred workers employed by three window air-conditioner manufacturers of the country may lose their jobs because of an increased influx of the low-cost Chinese split units that... Govt to amend industry laws to meet challenge: WTO trading requirements ISLAMABAD, May 19: The government has decided to amend the Industrial Relation Ordinance (IRO), Factories Act and Condition of Employees Act to meet the trading requirements of the World Trade Organization... Farm loan, low deposit rate may get attention: Bankers meeting with PM KARACHI, May 19: Prime Minister Mir Zafarullah Khan Jamali is going to tell top bankers on Tuesday that it is time for them to reach out to agricultural borrowers. He is... Budgetary measures being worked out: Under-invoicing, dumping ISLAMABAD, May 19: The tax authorities are considering a budgetary proposal to work out measures for countering practice of under-invoicing, dumping and smuggling of goods causing losses to the local production.... Stock market maintains positive outlook KARACHI, May 19: Stocks on Monday maintained an optimistic outlook as follow-up support figured prominently on selected counters but bears adhered to the sidelines anticipating further increase in prices and to... Euro flies past Rs67 KARACHI, May 19: The euro skyrocketed to Rs67.67 in the inter-bank market here on Monday from the weekend close of Rs65.93 as the single European currency reached a new four-year high... Shell to go ahead with investment plans KARACHI, May 19: Shell Pakistan Limited (SPL) is going ahead with its investment programme of $20 million this year despite 19 minor blasts on its outlets in various parts of the... Sugar tender KARACHI, May 19: The Trading Corporation of Pakistan (TCP) said on Monday it had issued a tender to sell 25,000 tons of white refined sugar from government stocks.... Tax on banks’ dividend, bonus income proposed ISLAMABAD, May 19: The Central Board of Revenue has proposed tax on the income received by the commercial banks in the shape of dividend, bonus units or capital gains in the... Prices remain steady on cotton market KARACHI, May 19: Cotton prices on Monday remained stable as ginners held on firmly to their unsold positions despite a substantial decline in daily mill offtake.... NWFP gets Rs16bn FDP share PESHAWAR, May 19: NWFP received over Rs16 billion against its share under the Federal Divisible Pool (FDP) during the first 10 months of the current financial year, recording an improvement by... Karachi Port operations KARACHI, May 19: Five ships carrying containers, steel and to load molasses are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim records 24pc growth KARACHI, May 19: The Port Qasim has recorded a growth of 24 per cent in cargo handling during the first 10 months of the current fiscal, over the corresponding period last... Company secretary: rules yet to be amended ISLAMABAD, May 19: No final decision has been taken as yet regarding the qualifications of company secretary and amendments in the Companies (General Provisions and Forms) Rules, 1985, were notified only... SPI goes up ISLAMABAD, May 19: The Sensitive Price Indicator went up by 0.17 per cent during the week ending May 14 as compared to the previous week, according to the weekly price statement... Parco’s ratings LAHORE, May 19: The Pakistan Credit Rating Agency (Pacra) has maintained the long-term entity rating of Pak-Arab Refinery Ltd (Parco) at “AAA” (triple A) and the short-term at “A1+” (single A... BD trade minister for India DHAKA, May 19: Finance and Planning Minister of Bangladesh, M Saifur Rahman, has left for New Delhi on Monday on a four-day visit to discuss with Indian leaders a broad spectrum... Talks on FTA with Kenya soon ISLAMABAD, May 19: Pakistan and Kenya will soon initiate negotiations on the proposed free trade agreement aimed at increasing the volume of bilateral trade between the two countries.... PICIC lease financing KARACHI, May 19: Pakistan Industrial Credit and Investment Corporation (PICIC) has so far approved Rs2.563bn for 284 contracts under lease financing by the end of April 2003.... Dollar spikes up against yen LONDON, May 19: The dollar spiked up against the yen on Monday amid speculation that the Japanese authorities had intervened on the foreign exchange market to stem the rise of their...

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