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August 31, 2003 Sunday Rajab 2, 1424 FCY deposits grow as dollar remains stable KARACHI, Aug 30: Investors seem to be renewing their forgotten romance with the US dollar that has not only been stable for some months, but promises enough charm for its lovers... New farm policy being finalized ISLAMABAD, Aug 30: The government is finalizing a new agriculture policy that aims at changing cropping patterns, increasing yields and improving services.... Govt seeks $200m from Asian Bank: SME Bank restructuring ISLAMABAD, Aug 30: The government is expected soon to start restructuring SME Bank with technical and financial assistance of the Asian Development Bank.... Trade gap with India narrows by 30pc ISLAMABAD, Aug 30: Pakistan’s trade deficit with India declined by 30 per cent to $95.845 million during the fiscal 2002-03 against $137.294 million in the previous year.... Rains may dim bumper cotton crop prospects LAHORE, Aug 30: Heavy widespread rains covering almost the entire cotton belt of Punjab in the last three days may have dimmed prospects of a bumper crop recently predicted by the... Loans against cash flows to SMEs KARACHI, Aug 30: Banks lend money on past and future trend of cash flows of borrowing companies and try to secure their facilities by collateral. In exceptional cases for nominal amounts,... Two more cos opt for delisting KARACHI, Aug 30: Alhamd Textile Mills Limited and Shaigan Electric & Engineering Co. Ltd. informed the Karachi Stock Exchange that they intended to seek voluntary delisting.... PC receives 18 EoIs for Karachi Hotel project ISLAMABAD, Aug 30: Privatization Commission has received 18 Expression of Interest(EOI) from potential investors for acquiring the assets of Karachi Hotel Project formerly allotted to Hyatt Regency Hotel Project on “as... CBR collects Rs52.9bn in July-Aug ISLAMABAD, Aug 30: The Central Board of Revenue (CBR) collected Rs52.9 billion revenue during the first two months (July-August) of the financial year 2003-04 against the target of Rs53.5 billion, recording... ADB for privatization of SME Bank KARACHI, Aug 30: The Asian Development Bank (ADB) would suggest to the government to privatize the SME Bank and convert it into a scheduled bank to make it more efficient and... US economic policy WASHINGTON, Aug 30: US President George W. Bush on Saturday defended his much-criticized attempts to put the economy on track and said he would make a new attempt to ensure “steady... German govt aims to calm local business tax revolt BERLIN, Aug 30: The German government responded to a growing rebellion over reforms to local business tax by offering on Saturday to consider changes to its proposal.... Iran eager to import Pakistani mango MULTAN, Aug 30: President, Mango Growers Association (MGA), Syed Zahid Hussain Gardezi, on Saturday said that Islamic Republic of Iran is eager to import Pakistani mangoes if negotiations take place at... New York cotton futures close higher NEW YORK, Aug 30: NY cotton futures closed at a one-month high Friday on steady bouts of speculative fund buying, with analysts saying the market should work its way up given... US stocks end higher for third straight week NEW YORK, Aug 30: US stocks ended a quiet session slightly higher on Friday, capping their third straight week of gains, after a report showing surprisingly strong growth in manufacturing in... Greenspan defends flexible policy JACKSON HOLE, Aug 30: Federal Reserve Chairman Alan Greenspan fired back at critics on Friday, saying flexible policy was better for the complex US economy than rigid rules like inflation targets.... Dollar dives NEW YORK, Aug 30: The dollar slumped against a bevy of major rivals on Friday amid thinning volume as traders got jittery ahead of the long US Labour Day holiday weekend.... Oman’s oil firm to invest $2bn in gas field MUSCAT, Aug 30: Oman’s top oil company will invest around two billion dollars in a massive expansion of its gas production operation over the next five years, the company’s managing director... Canada says wheat fairly traded WINNIPEG, Aug 30: The Canadian government said on Friday it does not dump or subsidize wheat exports through the Canadian Wheat Board and may consider a trade challenge of US Commerce... NBP directors KARACHI, Aug 30: The government has appointed the following directors on the Board of National Bank of Pakistan (NBP) for a period of three years with immediate effect: Iftikhar Ali Malik...

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