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October 3, 2003 Friday Sha’aban 6, 1424 WTO chief backs cut in farm subsidy ISLAMABAD, Oct 2: Director General World Trade Organization (WTO), Dr Supachai Panitchpakdi on Thursday said Pakistan would get more market access for its agriculture products once the developed countries effects cut... Banks to determine service charges KARACHI, Oct 2: The State Bank of Pakistan (SBP) has withdrawn the “cap” on minimum and maximum rates being charged by the banks for provision of various services to their clients... American sundi hits Punjab cotton belt LAHORE, Oct 2: Vast areas of Punjab’s cotton land have been reduced to near wasteland because of a severe attack by American and Army pests, and their impact has turned out... Oil spill plays havoc with fish retail business: Tasman Spirit KARACHI, Oct 2: Pakistan’s worst oil spill from Tasman Spirit has left the fish retail business reeling because of the looming fear among consumers that most of the fish catch comes... Petroleum exploration licence granted ISLAMABAD, Oct 2: The government on Thursday granted a petroleum exploration licence to Pakistan Petroleum Limited over Block No 2966-1 (Nushki), covering an area of 1780.76 square kilometres in districts Chaghai,... Rs50bn PIBs sale begins tomorrow KARACHI, Oct 2: Banks, flush with cash, are keenly awaiting the weekend sale of long-term government bonds offering a high-yield, low-risk investment opportunity in the largest auction of its kind in... Traders asked to invest in Kashgar LAHORE, Oct 2: Chinese businessmen have urged their Pakistani counterparts to introduce their products in Kashgar to create balance of trade between the two countries.... $ bonds can be redeemed before maturity KARACHI, Oct 2: The State Bank said on Thursday that local investors are free to redeem their special dollar bonds in dollars even before they mature.... Oil prices up on talk of Opec output cut LONDON, Oct 2: Oil prices shot higher on Thursday after Venezuela suggested another Opec production cut was in the offing for the December meeting, while also calling for a higher target... SBP mops up Rs4.55bn through TBs KARACHI, Oct 2: The State Bank on Thursday bought Rs4.55 billion in an open market operation through the sale of one- and two-week treasury bills.... Textile mills import 1.1m bales cotton KARACHI, Oct 2: Cotton import by local textile mills has touched 1.108m bales during the year 2002-03 to meet their requirement for long and extra-long staple cotton for producing higher count... Gas pipeline BERLIN, Oct 2: Russia and Germany are mulling the construction of a gas pipeline under the Baltic Sea, a project likely to figure in talks between their leaders next week, German... Stocks up by 111 points on massive buying KARACHI, Oct 2: Stocks on Thursday rose further across a broad front for the third session in a row as investors continued to build-up long positions on selected counters at the... WTO panel to study US complaint against EU: Trademark laws GENEVA, Oct 2: A panel will study a complaint by the United States and Australia that European trademark law offers more protection to home grown products than foreign goods, a World... Prices remain stable on cotton market KARACHI, Oct 2: Cotton prices on Thursday remained stable around Rs2,600 per maund as ready offtake was maintained on the higher side for the fourth session in a row amid active... Russian economy too reliant on oil: WEF MOSCOW, Oct 2: The World Economic Forum (WEF) opened a two-day forum in Moscow Thursday warning that Russia needed to press ahead with reforms and diversify away from oil and natural... Karachi Port operations KARACHI, Oct 2: Four ships carrying raw jute and soyabean meal are due to arrive at the outer anchorage on Friday, according to KPT sources.... Ratings LAHORE, Oct 2: The Pakistan Credit Rating Agency (Pacra) has maintained long-term rating of “AA” (double A) and short-term rating of “A1+” (A one plus) for the Security Papers Ltd.... Exceptional quota transfer sought KARACHI, Oct 2: Delay in allowing exceptional flexibility quotas transferable is hurting textile exports as exporters are unable to pay high premium demanded by quota brokers for these categories in open... New KCA chief KARACHI, Oct 2: The newly-elected board of directors of Karachi Cotton Association on Thursday elected Iqbal Umar and Anwer Yasin chairman and vice-chairman of the association, respectively, for the year 2003-04....

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