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August 7, 2003 Thursday Jumadi-us-Sani 8, 1424 3 banks’ merger scheme okayed KARACHI, Aug 6: The shareholders in Trust Investment Bank Limited (TIBL) and those in Fidelity Investment Bank Limited (FIBL) on Tuesday approved the scheme of amalgamation of the two banks together... EU may not levy provisional duty on bedlinen KARACHI, Aug 6: The European Union is unlikely to propose the imposition of provisional anti-dumping duties on bedlinen imports originating from Pakistan, official sources said on Wednesday.... ADB plans to raise lending for Pakistan MANILA, Aug 6: The Asian Development Bank (ADB) plans to raise lending levels to Pakistan to $2.67 billion over the next three years, according to a Country Strategy and Programme (CSP)... Associated Cement bidding on 28th ISLAMABAD, Aug 6: The Privatization Commission has announced the bidding for Associated Cement (Rohri) on August 28. A pre-bid meeting to this effect will take place on August 21, while the... DHA open plot prices decline by 10-35pc KARACHI, Aug 6: Open plot prices in selected phases of Defence Housing Authority (DHA) have finally plunged by 10-35 per cent in the last one month after reaching a psychological barrier... UN experts dig deeper in kerb market: Money-laundering KARACHI, Aug 6: Two UN officials met representatives of money changers here to get first hand knowledge of how open currency market is operating in Pakistan. The information they sought will... Yield on T-bills falls further KARACHI, Aug 6: The yield on three-month and one-year treasury bills fell sharply on Wednesday when the State Bank siphoned off Rs51 billion from the financial system by selling these bills... Humayun seeks end to farm subsidy NEW YORK, Aug 6: Federal Commerce Minister Humayun Akhtar on Tuesday called on the industrialized nations to end agricultural subsidies given to their farm industry in order to level the playing... ICI profit jumps by 85pc KARACHI, Aug 6: ICI Pakistan Limited announced Rs419 million after tax profit for the six months ended June 30, 2003, which represented growth of 85 per cent over taxed profit of... Index, market capitalization attain new peaks KARACHI, Aug 6: Stocks on Wednesday staged a smart recovery as investors covered positions at the overnight lows aided by reports of interim higher corporate earnings and peace signal from the... Millers seek sugar export subsidy ISLAMABAD, Aug 6: The sugar tycoons are influencing the government to allow huge subsidy on export of 100,000 tons sugar through Trading Corporation of Pakistan (TCP), which would result into a... NTNs to non-resident companies ISLAMABAD, Aug 6: The Central Board of Revenue (CBR) has notified procedures for issuance of National Tax Numbers (NTNs) to the non-resident companies (NRC).... Karachi Port operations KARACHI, Aug 6: Three ships, including a rice loader, are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... SECP action against Primebank ISLAMABAD, Aug 6: The Securities and Exchange Commission of Pakistan has taken further punitive action against the representatives/officers of Primebank Limited for persisting in their illegal activities in total disregard of... Industrial output hit by power failure KARACHI, Aug 6: A large number of export-oriented industrial units could not keep their production line moving because of frequent breakdown and long shutdown of power in different industrial areas of... Trading remains slow on cotton market KARACHI, Aug 6: Physical trading on the cotton market on Wednesday remained light as both ginners and spinners mostly played safe owing to changing world price outlook.... Notified ISLAMABAD, Aug 6: The Central Board of Revenue has notified another branch of National Bank of Pakistan in Faisalabad to receive payment of sales tax on return-cum-challan to facilitate the taxpayers.... Job Cuts TOKYO, Aug 6: The world’s third largest tobacco firm Japan Tobacco (JT) said on Wednesday it will offer voluntary Indonesia debt rating JAKARTA, Aug 6: Standard and Poors said on Wednesday it will not downgrade Indonesia’s sovereign rating following a deadly hotel bombing, as the risk had already been incorporated in its latest rating change. Oil prices dip after hitting 4-month high LONDON, Aug 6: Oil prices dipped slightly on Wednesday after reaching highs not seen since the run-up to the Iraq war earlier in the day, as traders sold off positions despite...

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