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August 26, 2003 Tuesday Jumadi-us-Sani 27, 1424 Long-drawn legal battle seen for claims: Tasman Spirit insurance KARACHI, Aug 25: A long drawn legal battle awaits Karachi Port Trust, Pakistan National Shipping Corporation, Pakistan Insurance Corporation and six Pakistani insurance companies that provided insurance cover of about Rs800... EPB drops ‘shift quota’ condition KARACHI, Aug 25: The Export Promotion Bureau (EPB) has withdrawn the condition of utilization of ‘shift quota’ before availing over programming for the quota year 2003, by textile exporters.... Speculators set sights on loan mortgages KARACHI, Aug 25: Groups of so-called investors have surfaced whose job it is to rescue those bank borrowers who are on the verge of defaulting on bank loans. But because of... Pakistan seeks resumption of export credits ISLAMABAD, Aug 25: Pakistan on Monday asked the donor agencies to resume export credits, discontinued in the wake of May 1998 nuclear tests.... Car sales fall 21pc in July KARACHI, Aug 25: Car sales dropped by 21 per cent in the month of July over the earlier month, but sales, when compared with the same month last year, recorded an... Cotton sowing exceeds target ISLAMABAD, Aug 25: The sowing of cotton crop has been completed over an area of 3.037 million hectares exceeding the target of 2.860 million hectares for the year 2003-04.... No fuel oil imports for Aug, Sept SINGAPORE, Aug 25: Rising natural gas supply and surging hydropower due to heavy rains stalled Pakistan’s demand for fuel oil imports in August and September and prompted refineries to cut throughput,... 24 proposals received for two power plants ISLAMABAD, Aug 25: Pakistan received 24 proposals to build two electricity generating plants in the south of the country on Monday, officials said.... Cancun round TOKYO, Aug 25: Japan on Monday expressed its immediate opposition to a draft declaration on freeing up agricultural and other areas of trade, and called for its revision ahead of WTO... Stock market undergoes mild correction KARACHI, Aug 25: Stocks on Monday finished with an extended fall on late selling as the early rally failed to get through in the absence of follow-up support both from the... Oil prices fall NEW YORK, Aug 25: Oil prices took a small step down from lofty levels on Monday as dealers took profits from the gasoline-driven rally late last week.... Pakistan, India may exchange lists in Oct: Concession under SAPTA ISLAMABAD, Aug 25: Pakistan and India are likely to exchange in October additional lists of items for concession of duty under South Asia Preferential Trade Arrangement (SAPTA) to enhance volume of... Prices show firm trend on cotton market KARACHI, Aug 25: Cotton prices on Monday showed firm trend followed by reports of fresh rain in major cotton producing areas on the lower Sindh and suspension of picking operations of... Six firms’ directors penalized ISLAMABAD, Aug 25: The Securities and Exchange Commission (SECP) has imposed penalties on six directors, including the chief executive of Pakistan PVC Limited, a public listed company, for their failure to... Financial sector asked to be proactive ISLAMABAD, Aug 25: Federal Minister for Finance and Economic Affairs Shaukat Aziz on Monday called on managers of financial institutions both in private and public sectors to be responsive to ever-changing... Allied Bank resisting SBP committee LAHORE, Aug 25: The Allied Bank (ABL) is stubbornly resisting implementation of the decision of the SBP Committee for Resolution of Cases under the State Bank’s circular BPD-29.... Generic job description report ISLAMABAD, Aug 25: The Central Board of Revenue on Monday launched its generic job description (GJD) report for enhancement of skills of tax officials as a part of restructuring of the... US telecom co accused of bribing Saudi official RIYADH, Aug 25: A Saudi Arabia based company has accused a US telecommunication giant of bribing a Saudi official with cash and gifts worth $15 million in an effort to gain... Karachi Port operations KARACHI, Aug 25: Five ships carrying containers and chemicals are due to arrive at the outer anchorage on Tuesday, according to KPT sources.... Port Qasim KARACHI, Aug 25: Asia Grace carrying chemicals was allotted berth at Engro Vopak Terminal during the last 24 hours, said PQA press release on Monday....

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