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August 21, 2003 Thursday Jumadi-us-Sani 22, 1424 Ishrat seeks long-term WB, IFC credit: Housing finance KARACHI, Aug 20: The Governor, State Bank of Pakistan (SBP), Dr Ishrat Husain, has asked the World Bank and the International Finance Corporation (IFC) to consider giving Pakistan a reimbursable long-term... Remittances from US, UAE fall sharply KARACHI, Aug 20: Home remittances from the US — or money sent back home by expatriate Pakistanis living in America — fell to $79.5 million in July 2003 from $102.4 million... Exporters reject condition for over-programming KARACHI, Aug 20: Exporters have criticized the Export Promotion Bureau (EPB) for putting additional condition for availing ‘over-programming’ for the quota year 2003 as this has resulted in pushing quota prices... Businessmen invited to invest in Indonesia KARACHI, Aug 20: Indonesian Trade and Industry Minister Ms Rini M. Sumarno Soewandi on Wednesday asked businessmen from Pakistan to become partners in developing a free industry.... Investors assured of copyrights protection KARACHI, Aug 20: Industries and Production Minister Liaquat Ali Khan Jatoi has said he will soon move a summary to the prime minister requesting an amendment in the laws for the... MoU signing today ISLAMABAD, Aug 20: Pakistan and Indonesia will sign a memorandum of understanding (MoU) on Thursday for the promotion of trade between the two countries.... SBP sells Rs36.7bn T-bills KARACHI, Aug 20: The State Bank on Wednesday auctioned Rs36.7 billion worth of six-month treasury bills to drain out Rs36.48 billion from a fairly liquid inter-bank market. While conducting the auction... Oil prices rise as US stocks fall LONDON, Aug 20: Oil prices rose slightly on Wednesday after weekly statistics showed US oil inventories falling, with gasoline stocks hitting their lowest level for nine months.... Restructuring of CBR by Dec 2004 ISLAMABAD, Aug 20: President Pervez Musharraf has said restructuring of the CBR will be completed by December next year.... Union Bank profit up KARACHI, Aug 20: Union Bank Limited profit before tax rose to Rs354 million for the half year ended June 30, 2003, as against Rs46 million for the same period last year.... Stocks achieve new career-best level at 4,388 KARACHI, Aug 20: Stocks on Wednesday posted fresh widespread gains as institutional traders continued to build-up long positions in most of the pivotals as no one among them is inclined to... Japan’s investment in Asean drops TOKYO, Aug 20: Japan’s overall investment in other countries marked its first gain in three years in 2002-03, but its fund flows to Asean members fell sharply due to the drastic... Steady conditions on cotton market KARACHI, Aug 20: Steady conditions were again witnessed on the cotton market on Wednesday as both spinners and mills continued to cover their short positions irrespective of the ginners asking prices.... Drawback on knitted fabrics allowed ISLAMABAD, Aug 20: The Central Board of Revenue (CBR) has allowed duty drawback on export of woven or knitted fabrics to boost its exports.... Rice export thin, prices rise KARACHI, Aug 20: Pakistani rice exports were thin during the past week, due to dwindling stocks and high domestic prices, although existing orders were being shipped, traders said on Wednesday.... Karachi Port operations KARACHI, Aug 20: Four ships carrying containers, palm and crude oil are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... ‘Russian growth impressive’ MOSCOW, Aug 20: Five years after Russia’s economic collapse, the country’s impressive recovery figures still rely too heavily on fickle international oil prices, the World Bank warned on Wednesday.... Dollar higher LONDON, Aug 20: The dollar edged up slightly against the euro on Wednesday, but its recent strong rise appeared to be flagging as economic uncertainty and terrorist bombings in Iraq and... Sri Lanka tea prices mixed COLOMBO, Aug 20: Sri Lanka tea prices were mixed at the latest auction on Wednesday, with low-grown teas falling for a third week while high growns rose on seasonal demand.... African tea prices mixed MOMBASA, Aug 20: There was good demand this week at the East Africa tea auction, but prices were mixed in most primary categories, Africa Tea Brokers (ATB) said in a market...

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