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July 30, 2003 Wednesday Jumadi-ul-Awwal 29, 1424 Rains hit industrial output, exports KARACHI, July 29: Persistent rains have severely affected the industrial production in the city’s five main industrial estates, and slowed export shipments because of thin cargo movements on the road in... BoR blamed for slowdown in investment: Hawksbay scheme KARACHI, July 29: The indifferent attitude of the Board of Revenue (Sindh) is hampering investment in the Hawksbay Industrial Estate (Keamari Town) where as many as 2000 industrial units of small... Cotton production may fall in Sindh KARACHI, July 29: Heavy monsoon rains could cut cotton output in Sindh because of standing water in the farmlands and the increased risk of pest infestation, officials and traders said Tuesday.... HBFC to float Rs300m TFCs KARACHI, July 29: The House Building Finance Corporation (HBFC) will float a three-year term finance certificates (TFCs) to mobilize Rs300 million from the market.... SBP firm to check rise of dollar in kerb market KARACHI, July 29: The State Bank has decided to make indirect intervention into the open currency market to stop what its officials term as artificial rise of the dollar in the... Incentives for chemical sector under way ISLAMABAD, July 29: The government is expected to finalize a 10-year incentive package for the industrial chemical sector besides relocation of chemical plants from China and the Far Eastern countries to... Canada keen to import leather, textile items ISLAMABAD, July 29: Commerce Minister, Humayun Akhtar Khan held a meeting with Canadian Minister of International Trade, Pettigrew in Montreal and discussed with him matters of bilateral interest.... Revenue collection crosses target ISLAMABAD, July 29: The revenue receipts at Rs460.589 billion during the financial year 2002-03 crossed the target by a little less than Rs2 billion.... EoIs invited for National Refinery ISLAMABAD, July 29: The Privatization Commission has invited consortiums including investment banks with ample experience in privatization, restructuring and merger in the oil & gas sector to submit their Expressions of... Sugar export KARACHI, July 29: The TCP is ready to procure another 100,000 tons of refined sugar for export purposes.... Stocks suffer modest pruning at inflated levels KARACHI, July 29: Stocks on Tuesday suffered modest pruning at the inflated levels but analysts are not inclined to entertain bearish ideas encouraged by some positive developments on the political front... Time ripe for Pakistan to enter bond market NEW YORK, July 29: Pakistan should enter the international bond market sooner rather than later before global interest rates, which are increasing, could make it more expensive to enter the market,... BoP bad debt comes down to 11pc LAHORE, July 29: As ratio of its total advances, the bad loans of the Bank of Punjab (BoP) are claimed to have come down to 11 per cent in the last... Iraq oil output surpasses 1m bpd BAGHDAD, July 29: Iraq’s oil output is now surpassing one million barrels per day (bpd), with increased oil sales helping fund the reconstruction effort here, the US-led coalition said on Tuesday.... Trading remains insipid on cotton market KARACHI, July 29: Trading activity on the cotton market on Tuesday remained insipid as spinners were not inclined to make bigger commitments fearing interruption in supplies because of rain.... Palm oil trade slow on weak prices ISLAMABAD, July 29: Weak international prices and declining local demand kept Pakistan’s palm oil trade dull during the past week and dealers saw little scope for an early recovery, traders said... BD dumping jute products with impunity ISLAMABAD, July 29: The government has yet to take countervailing measures against the Bangladesh Jute Industry (BJI) for exporting subsidized jute products to Pakistan causing loss to the local jute industry.... Oil pipeline MOSCOW, July 29: China is ready to help finance the construction of a Russian oil pipeline carrying Siberian crude to the Chinese city of Daqing, the Chinese ambassador to Moscow said... Karachi Port operations KARACHI, July 29: Five ships carrying containers, chemicals, steel and highspeed diesel are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... US economy WASHINGTON, July 29: US Treasury Secretary John Snow said on Tuesday the US economy, boosted by tax cuts and cushioned by low interest rates, was “springloaded” to bounce back....

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