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August 27, 2003 Wednesday Jumadi-us-Sani 28, 1424 Quality of public spendings poor: ADB: Pakistan Economic Update ISLAMABAD, Aug 26: The Asian Development Bank (ADB) has expressed serious concern over the poor quality of public sector development spendings in Pakistan and has forecast a number of economic risks... Pakistan, Afghanistan to open 3rd trade route LAHORE, Aug 26: Pakistan and Afghanistan have agreed to open a third route between them from Qili Ghulam Khan, about 150km south of Peshawar, to facilitate the increasing bilateral trade.... Govt may cut coupon rates on PIBs: 15-year bonds KARACHI, Aug 26: The government may lower the coupon rates on the existing Pakistan Investment Bonds to pave the way for the launch of a new version of these bonds.... Efforts on to lower steel, cement prices LAHORE, Aug 26: Finance Minister Shaukat Aziz on Tuesday said the government was thinking of giving some incentives to the ship-breaking industry to develop steel industry in the country.... Fish exports stay unhurt by oil spill KARACHI, Aug 26: Fish exporters have received enquiries from their foreign buyers after oil spill in Karachi sea this month from the aground and half broken and half sunk ship Tasman... Government bringing bankruptcy laws LAHORE, Aug 26: The government is bringing bankruptcy laws as are prevalent in the developed countries to provide procedures to defaulters to file for bankruptcy.... MTU to cover 100,000 taxpayers LAHORE, Aug 26: The chairman, Central Board of Revenue (CBR), Riaz Malik said on Tuesday the Medium Taxpayers Unit (MTU) presently catering to the needs of 12,000 tax payers, has now... Buying at dips averts major fall on stock market KARACHI, Aug 26: Stocks on Tuesday suffered fresh widespread fall at the inflated levels as a section of leading investors as well as weakholders indulged in renewed selling in most of... GlaxoSmithKline Pakistan KARACHI, Aug 26: In the two months since June 30, the market value of GlaxoSmithKline Pakistan — the largest pharmaceutical company in Pakistan — has increased by Rs4.3 billion to Rs11.9... Pakistan-Kyrgyz JMC agrees to finalize pacts ISLAMABAD, Aug 26: Pakistan and Kyrgyzstan on Tuesday agreed to negotiate a host of agreements in various fields for enhancing the volume of bilateral trade.... Higher prices cut activity on cotton market KARACHI, Aug 26; Trading activity on the cotton market remained slow as spinners curtailed their daily offtake owing to increase in the asking prices of ginners followed by reports of second... US budget deficit seen at $480bn WASHINGTON, Aug 26: The US federal budget deficit will rise to a record $480 billion in fiscal year 2004, the nonpartisan Congressional Budget Office predicted on Tuesday.... Karachi Port operations KARACHI, Aug 26: Five ships carrying DAP fertilizer, chemical and high speed diesel are due to arrive at the outer anchorage on Wednesday, according to KPT sources.... Special oil arrangement from Riyadh to continue ISLAMABAD, Aug 26: Saudi Arabia has assured Pakistan it would continue to provide oil and other petroleum products under special arrangements, Minister for Petroleum and Natural Resources Ch Nouraiz Shakoor said... Most cos’ share prices below face value in BD DHAKA, Aug 26: Market prices of most of the shares of the companies, which were listed with the country’s bourses between 1993 and 2003, are now well below their face values.... TOTAL-Parco secures 4.5pc market share KARACHI, Aug 26: The fourth petroleum products marketing company TOTAL-Parco Pakistan Ltd has captured 4.5 per cent market share in the first year of its launch in the retail-outlets sector.... Pakistan pavilion KARACHI, Aug 26: Fifteen Pakistani exhibitors representing textile and leather apparel manufacturing sectors are participating in the ASAP Global Sourcing Show, Las Vegas, USA.... Palm oil prices up KUALA LUMPUR, Aug 26: Malaysia’s crude palm oil futures ended mostly firmer on Tuesday, bolstered by short covering as the November contract resisted the charts’ downward pressure and stayed above the... Cotton varieties ISLAMABAD, Aug 26: The government has recently approved four improved and disease-resistant high yielding verities of cotton for commercial cultivation to increase cotton production.... Tea auction MOMBASA, Aug 26: Prices of Kenyan tea eased slightly at Tuesday’s auction as cold weather in tea-growing areas led to the production of low quality teas, an official at the African...

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