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July 8, 2003 Tuesday Jumadi-ul-Awwal 7,1424 Monetary policy seen unchanged for 6 months KARACHI, July 7: The State Bank on Monday said its monetary policy was unlikely to change over the next six months due to low inflation and strong economic fundamentals.... SBP, utilities to respond in three days: Industrialization ISLAMABAD, July 7: The government has asked the State Bank, the CBR, Wapda, the KESC, the SECP, the PTCL and gas companies to extend all the required infrastructure facilities to the... Dutiable imports up by 2.7pc ISLAMABAD, July 7: The value of dutiable imports increased by only 2.755 per cent during the year 2002-03 to Rs415.766 billion this year against Rs404.617 billion over the corresponding period of... EU eyes free trade accord with ASEAN BRUSSELS, July 7: The European Union is ready to negotiate a free trade agreement with the Association of Southeast Asian Nations (ASEAN) after the current round of WTO-led talks, the European... Gold drops on falling euro LONDON, July 7: Gold dipped back in a slow European market on Monday as pressure from a tumbling euro set off a short flurry of selling of the safe-haven asset, dealers... Measures to curb misuse of drawback facility ISLAMABAD, July 7: The government is considering a proposal to work out measures for reducing the misuse of duty drawback facility on exports of goods to Afghanistan and Central Asian Republics... ‘Best accounts’ awards ceremony KARACHI, July 7: The “best presented accounts” ceremony for the year 2002, would be held on July 25 at which the Federal Minister for Finance and Economic Affairs, Shaukat Aziz would... Oil market jittery as strike drags on LONDON, July 7: Oil prices rose in London but fell in New York on Monday amid confusion over whether a strike in Nigeria was any closer to being resolved, traders said.... Display centre at Sharjah under study ISLAMABAD, July 7: The Export Promotion Bureau is actively considering establishing a display centre at Sharjah to project Pakistani products and attract the attentions of the Gulf states.... ECB boss to be replaced in November PARIS, July 7: European Central Bank governor Wim Duisenberg has said he will be replaced by French central bank governor Jean-Claude Trichet on November 1, a union source at the Bank... Late short-covering averts major fall on KSE KARACHI, July 7: Stocks on Monday ran into profit-selling in an erratic movements but late short-covering in some of the leading shares allowed them to finish partially recovered amid reduced activity.... Ginners increase asking prices KARACHI, July 7: Cotton market on Monday showed firm trend as ginners raised their asking prices followed by reports of heavy rains in the entire cotton belt, which had delayed arrivals... Karachi Port operations KARACHI, July 7: Five ships carrying containers and sugar for Afghanistan are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... Seminar on goal achievement KARACHI, July 7: The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) organized a seminar on ‘goal achievement and stress management’, an ICAP (SRC) press release issued... Euro lower against greenback LONDON, July 7: The euro recoiled against the dollar to the lowest level for almost two months on Monday as dealers marked down the single currency over bleak euro-zone growth prospects,... Asian stocks rise TOKYO, July 7: Asian share prices rose on Monday on expectations of gains on Wall Street after the US market was closed for a long weekend.... Malaysian palm oil mostly lower KUALA LUMPUR, July 7: Malaysia’s crude palm oil futures were mostly lower on Monday, being deprived of fresh impetus because of last week’s holiday in the United States, dealers said.... Banknotes BAGHDAD, July 7: Paul Bremer, the top civil administrator in Iraq, announced on Monday the introduction of new banknotes to replace the New Iraqi Dinar introduced in 1991 and bearing the...

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