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July 12, 2003 Saturday Jumadi-ul-Awwal 11, 1424 German firm ready to invest in gas pipeline: Turkmenistan-Pakistan ISLAMABAD, July 11: A big German industrial group has offered to construct $2.5 billion Turkmenistan to Pakistan gas pipeline and set up a spiral pipe mill in Karachi.... China makes big headway in US market KARACHI, July 11: Is China a threat to Pakistan’s industry? It is a question which many businessmen have started to ponder when they found all sort of consumer items from China... Plan to bring evaders under tax net ISLAMABAD, July 11: The Central Board of Revenue (CBR) is preparing a policy document to bring more than 0.6 million people under the net of income tax and sales tax within... Machinery group imports up 28pc ISLAMABAD, July 11: Machinery group imports mounted to $2,839.12 million during the financial year 2002-03, recording an increase of 28.61 per cent over the previous year.... US defies trade rules: WTO: Steel tariffs GENEVA, July 11: The World Trade Organization on Friday ruled that some US steel tariffs flout international trade rules, upholding a complaint filed by the European Union, Japan and six other... Market capitalization touches new peak at Rs811bn KARACHI, July 11: Stocks on Friday remained in a bullish frame of mind and made fresh covering purchases on the blue chip counters after digesting the negative impact of the city... Exporters advised to prepare for WTO regime KARACHI, July 11: Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) South Zone chairman Zubair Parekh has advised textile exporters to prepare vigorously for the WTO regime as Pakistan will have... Seafood exports fetch $135m KARACHI, July 11: Export of fish and fish preparations increased by seven per cent in value and 9.6 per cent in quantity terms during the financial year 2002-03 as compared to... WTO moot begins on 28th TORONTO, July 11: Commerce Minister Humayun Akhtar is due to arrive in Toronto on July 27 to attend a ‘mini ministerial’ conference of World Trade Organization (WTO), according to a Pakistani... Presentation on PS KARACHI, July 11: A delegation of Russian consortium Intermach made a presentation early this week of basic design solution on Pakistan Steel up to 1.5 million tons a year in first... Opec output down by 0.8m bd in June RIYADH, July 11: With crude prices remaining strong, Iraq struggling to increase production and the rest of Opec reining the output in June, as confirmed by the International Energy Agency and... Ginners raise asking prices by Rs25 KARACHI, July 11: Firm conditions were witnessed on the cotton market on Friday as ginners raised their asking prices by Rs25 per maund after spinners resumed their covering operations against foreign... NWFP ADP linked to World Bank loan PESHAWAR, July 11: The NWFP government will need to scrap a bigger portion of its annual development programme for the 2003-04 financial year if the province fails to qualify for the... Sargodha to have dry port FAISALABAD, July 11: The Chairman, Faisalabad Dry Port Trust, Mukhtar Ahmed Sheikh, on Friday said Sargodha would soon have a dry port terminal, and, in this regard, a three acres of... Global oil demand PARIS, July 11: Growth in global demand for oil should come to one million barrels a day this year, the International Energy Agency said on Friday in a prediction unchanged from... Karachi Port operations KARACHI, July 11: Six ships carrying containers, coal and sugar for Afghanistan are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Port Qasim handles 16.15m tons cargo KARACHI, July 11: The Port Qasim handled a record volume of 16.15 million tons of cargo during the financial year 2002-03 as compared to 13.95 million tons a year ago, showing... Allied Bank declares profit rates KARACHI, July 11: Allied Bank of Pakistan Ltd on Friday announced the following rates of profit on various categories of PLS deposits for the half year ended June 30, 2003, says... Second-hand machinery import sought KARACHI, July 11: The chairman, Site Association of Industry, Haroon Farooki has urged the government to allow the local industrial units to import second-hand industrial boilers, power generators and electric motors... BBC sells £800m bond LONDON, July 11: The British Broadcasting Corporation (BBC) sold an 800 million pound bond — its first — on Friday, raising funds for the redevelopment of its London headquarters, Broadcasting House....

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