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August 24, 2003 Sunday Jumadi-us-Sani 25 Banks, DFIs can deal in commercial papers: SBP guidelines KARACHI, Aug 23: Banks and DFIs can deal in commercial papers but they will not provide any guarantee or undertaking. Nor will they give an impression to the public that they... Shaukat wants banks to find new areas KARACHI, Aug 23: Finance Minister Shaukat Aziz urged Pakistani banks to start moving towards new areas, which he said, were ‘liability management’. He elaborated that banks should now float and manage... Mutual fund industry assured of tax benefits KARACHI, Aug 23: Finance Minister Shaukat Aziz urged mutual fund industry, banks and insurance companies to look at the possibility of designing products to cater to the needs of retiring people... Trade surplus with US goes up by nearly 20pc ISLAMABAD, Aug 23: Pakistan’s trade surplus with the US was increased by nearly 20 per cent to about $2 billion in 2002- 03 over $1.5 billion achieved the previous year.... SPI declines ISLAMABAD, Aug 23: Sensitive Price Indicator declined by 0.08 per cent during the week ending August 21 as compared to previous week, says the weekly price statement of the Federal Bureau... SRO507 scope limited to three items ISLAMABAD, Aug 23: The Central Board of Revenue will issue a notification shortly to limit the scope of clause (B) of SRO507 to only three items.... USAS to eliminate direct contact ISLAMABAD, Aug 23: The Regional Commissioner of Income Tax (RCIT), northern region, Islamabad, Daud Tahir said on Saturday the Universal Self Assessment Scheme (USAS) would eliminate direct contact between the income... Single adjudication collectorate under study ISLAMABAD, Aug 23: The Central Board of Revenue (CBR) is considering to merge all three adjudication collectorates of customs, sales tax and central excise, Karachi into a single collectorate to facilitate... PTA, BoI for cooperation in telecom sector ISLAMABAD, Aug 23: The Pakistan Telecommunication Authority (PTA) and the Board of Investment (BoI) have stressed the need of maintaining close collaboration with each other for attracting prospective investors in the... New model launched Honda hikes Production capacity LAHORE, Aug 23: To meet the increasing demand for cars in the country, Honda Atlas Cars (Pakistan) Limited has enhanced its production capacity to over 12,000 units a year.... UN moot on trade, transport ISLAMABAD, Aug 23: The United Nations is organizing a conference at Almatay on trade and transport facilitation for land-locked countries.... Sustaining return on NSS certificates KARACHI Aug 23: Funds mobilized through National Saving Scheme (NSS) in excess of budgetary requirement may be productively invested in the capital market to ensure a reasonable return on their long-term... Dollar rises on hopes for strong US growth NEW YORK, Aug 23: The dollar rose to its highest level in at least four months against the euro, sterling and Swiss franc on Friday, buoyed by expectations of stronger economic... No rosy returns seen for Wall Street NEW YORK, Aug 23: Next week should be packed with numbers pointing to a long-anticipated upturn in the US economy, but Wall Street’s gains may be tempered by this week’s robust... Cancun talks for non-discriminatory trading system NEW DELHI, Aug 23: Upcoming World Trade Organization (WTO) talks in Mexico should work for a “non-discriminatory” trading system that considers developing countries, a senior UN official said in an interview... India cuts interest rate to help recovery MUMBAI, Aug 23: India’s central bank cut the key short-term interest rate benchmark by half a point on Saturday, a move expected to aid recovery in Asia’s third-largest economy, analysts said.... Oil prices hold gains after 3pc surge NEW YORK, Aug 23: Oil prices held firm on Friday after surging 3 per cent Thursday, as dealers fretted over a gasoline supply crunch in the United States.... Canadian dollar rises, bonds higher TORONTO, Aug 23: The Canadian dollar reversed course against the US dollar on Friday, rebounding from early weakness as profit taking and options-related selling halted the greenback’s surge.... ‘China, India rail project bids high’ KUALA LUMPUR, Aug 23: Malaysia said on Saturday it wants bids from China and India lowered further before awarding them contracts for a multibillion-dollar rail project, which is part of a... Precious metal prices strong in London markets LONDON, Aug 23: Oil prices rose still higher over the week, as markets were rocked by the deadly bombing of the United Nations’ headquarters in Baghdad as well as a worrying...

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