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June 12, 2003 Thursday Rabi-us-Sani 11, 1424 CCoP okays sale of four major units’ shares ISLAMABAD, June 11: The Cabinet Committee on Privatization (CCoP) on Wednesday approved privatization programme for the first quarter of the next fiscal which included divestment of 5-10 per cent shares of... Dawood Hercules gets 61m shares of SNGPL KARACHI, June 11: Dawood Hercules Chemicals Limited —the third largest fertilizer producer in the country (after Fauji and Engro), announced on Wednesday that it had acquired 61 million shares in Sui... Pakistan fails to benefit from 15pc US quota hike KARACHI, June 11: Pakistan has not gained much from a $143- million additional apparel market access package given by the US last year and is now seeking an understanding on all... Opec maintains output ceiling DOHA, June 11: Opec announced on Wednesday it will maintain its current production ceiling at least until July 31 when it meets in Vienna to discuss Iraq’s return to the market,... ‘Amendments in IT Ordinance to damage USAS’ KARACHI, June 11: Tax experts and consultants believe that the proposed amendments in the Income Tax Ordinance 2001, through the Finance Bill 2003, are going to mutilate the concept of Universal... Heavy selling halts stock market’s upward drive KARACHI, June 11: Stocks on Wednesday fell across a broad front as heavy selling by some leading institutional traders towards the close halted the market’s upward drive. The index fell by... Yield on one-year TBs falls to 2.37pc KARACHI, June 11: The market tends to believe the words coming from the horses mouth. So when banker-turned Finance Minister Shaukat Aziz says that low interest rate policy will continue bankers... LPG price touches Rs33 per kg KARACHI, June 11: The price of liquefied petroleum gas (LPG) has touched Rs33 per kg from Rs26-27 per kg in just three days as a result of increase in price by... Trade accord with US soon WASHINGTON, June 11: Pakistan is seeking a bilateral preferential tariff arrangement with the United States, which would give it access to the US market on a bilateral basis, said Commerce Minister... Indian tea team to visit Pakistan NEW DELHI, June 11: A trade delegation from India, the world’s largest tea producer, will visit Pakistan later this month to push tea sales as tensions between the nuclear rivals ease,... Saudi investment firm to develop industrial park ISLAMABAD, June 11: A Saudi investment company on Wednesday signed a Memorandum of Understanding (MoU) with Pakistan Industrial Development Corporation (PIDC) to develop a world- class industrial park on PIDC’s land... Karachi Port operations KARACHI, June 11: Berthing activity at the wharves on Wednesday was modest owing to delay in arrivals of foreign flag vessels and as a result, four ships were berthed.... Banks ready to offer money at low rates KARACHI, June 11: The Governor, State Bank, Dr Ishrat Hussain has said that economic policies have created conducive environment for investment in the country.... Cotton prices fall by Rs15 KARACHI, June 11: Cotton prices on Wednesday suffered a decline of Rs15 per maund as tired ginners tried to lure spinners back on the market but they appear to be in... Spinning Machinery goes to PS KARACHI, June 11: Pakistan Steel has taken over the possession of property and assets involving machinery, equipment and land of Spinning Machinery Company (SMC) in Lahore on Wednesday.... Wheat export ISLAMABAD, June 11: The government is likely to resume wheat export programme soon, despite weather damage to its crop, to keep a presence in the international market, a senior agriculture ministry... US oil stocks drop NEW YORK, June 11: US crude oil stocks dropped sharply last week as imports eased from recent strong levels, according to a weekly government report on Wednesday.... Japan’s economy TOKYO, June 11: Japan’s gross domestic product (GDP) expanded 0.1 per cent in the three months to March according to revised figures of the earlier reported flat growth, the government said... Palm oil prices KUALA LUMPUR, June 11: Malaysian crude palm oil futures were unchanged on Wednesday but rebounded from early lows due to speculative buying ahead of the release of official May crop data.... Oilfield deal DOHA, June 11: Iran stands ready to clinch $4 billion of new oilfield investments with foreign companies which could boost its production by 400,000 barrels per day, Iranian Oil Minister Bijan...

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