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September 2, 2003 Tuesday Rajab 4, 1424 SBP moves to stabilize deposit rates KARACHI, Sept 1: The State Bank has finally realized that the continual cuts in the rates of return on bank deposits can be harmful — and has started making market-based moves... Oil prices dip despite Iraq pipeline fire LONDON, Sept 1: Oil prices slipped here on Monday despite a fire at an Iraqi oil pipeline over the weekend, with trading expected to be slow because of the US Labour... KSE index crosses crucial 4,500-point barrier KARACHI, Sept 1: Stocks on Monday finished higher under the lead of energy sector and blue chips boosted by reports of higher earnings after early selling caused by political risks was... Foreign banks get extra time to publish reports KARACHI, Sept 1: The State Bank has given one extra month to foreign banks operating in Pakistan for publishing/circulating their half-yearly financial statements as of June 30, 2003.... Islamic banking KARACHI, Sept 1: Muslim Commercial Bank on Monday opened its First Islamic Banking Branch at Shaheen Complex.... French deficit PARIS, Sept 1: France said on Monday it had told the European Commission it expected to register a 2003 public deficit of 4.0 per cent of gross domestic product (GDP), busting... Essentials’ prices remain stable KARACHI, Sept 1: Consumers had either paid same or lower prices to buy their monthly kitchen items last month as a result of stability in prices.... WB for limiting subsidized gas consumption ISLAMABAD, Sept 1: The World Bank has asked the government to redefine lifeline gas consumers by limiting their subsidized consumption within 30-50 cubic meter per month range instead of existing 100-200... IT return forms ISLAMABAD, Sept 1: The government has decided to maintain the old income tax return forms for companies and salaried employees for filing tax returns by end-September.... Cabinet approves FTA talks with BD ISLAMABAD, Sept 1: The Federal Cabinet on Monday approved initiation of negotiations with Bangladesh for a free trade agreement for promotion and expansion of bilateral trade between the two countries which... Strategy for WTO ISLAMABAD, Sept 1: Federal Minister for Industries and Production Liaquat Ali Jatoi will be the chief guest at the National Consultative Workshop on “Strategy for WTO” to be held on Wednesday... Exporters sell carpets worth Rs1 billion KARACHI, Sept 1: Exporters and manufacturers of hand-knotted carpets have made spot sales worth Rs1 billion and also booked a large number of export orders during a three-day exhibition held at... Farm subsidy issue TOKYO, Sept 1: Japanese farm minister Yoshiyuki Kamei will visit the US this week to discuss the thorny issue of agricultural trade ahead of a key meeting of the WTO in... Snow backs flexible exchange rates TOKYO, Sept 1: Visiting US Treasury Secretary John Snow outlined the view on Monday that global growth could come only from boosting economic fundamentals, not by keeping the currency of one’s... Banking industry NEW DELHI, Sept 1: International rating agency Standard and Poor’s said on Monday that it had changed its outlook for India’s banking industry from “negative” to “stable” but said there were... Polls KARACHI, Sept 1: The Businessmen Panel swept the Karachi Customs Agents Group (KCAP) election held on August 30, for the term 2003-04, says a press release.... Trading shrinks on cotton market KARACHI, Sept 1: Physical business on the cotton market on Monday failed to expand as spinners extended guarded support in apparent effort to forestall further increase in prices.... Karachi Port operations KARACHI, Sept 1: Seven ships carrying containers, steel coils and to load naphtha and chrome ore are expected to arrive at the outer anchorage on Tuesday, according to KPT sources.... China’s economic boom may continue BEIJING, Sept 1: China’s economy will expand 8.3 per cent this year despite the impact of Sars and the rapid growth will continue into next year, state media said Monday, citing... FTO orders processing of refund claims ISLAMABAD, Sept 1: Federal Tax Ombudsman Justice Saleem Akhtar has asked the member customs to direct all collectors of customs to ensure processing of refunds claims of taxpayers within due time....

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