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October 5, 2003 Sunday Sha’aban 8, 1424 Smuggled, fake watches dominate 95pc market share KARACHI, Oct 4: Are you sure that the wrist watch, you have purchased from the market... SRO and prudential regulations for banks KARACHI, Oct 4: State Bank of Pakistan Governor Dr Ishrat Husain has put the commercial banks to a critical test. He has persuaded them to develop their own code of ethics... Economic performance Businessmen sceptical of govt claims KARACHI, Oct 4: How much credibility the government enjoys on its economic performance since October 1999? Perhaps very little. General public and even many businessmen are sceptic of the government’s tall... Saudi Pak approves Rs2.39bn financing ISLAMABAD, Oct 4: The 85th Board of Directors meeting of Saudi Pak Industrial and Agricultural Investment Company Ltd approved a total financing of Rs2.39 billion to 22 companies in manufacturing, financial,... Cotton output rises by 32.2pc KARACHI, Oct 4: Heavy arrival of phutti from cotton fields in Punjab has increased the overall cotton production in the country by 32.23 per cent to 1.169 million bales up to... Consultants for joint ventures ISLAMABAD, Oct 4: The government has decided to hire international consultants to develop joint ventures between Pakistani and international companies.... Forex inflows include $128m ADB tranche KARACHI, Oct 4: Pakistan has received $128 million from the Asian Development Bank under its Decentralization Support Programme.... Banks, DFIs invest more in share business KARACHI, Oct 4: Banks and development financial institutions are aggressively involved in badla financing — thanks to their inability to lay hands upon safer investment. According to the State Bank statistics... Car prices body meets ISLAMABAD, Oct 4: The task force on car prices has completed its deliberations with stakeholders and would finalize its recommendations on Thursday.... PIBs yield kept within limits: Rs7.59bn sale KARACHI, Oct 4: The State Bank on Saturday sent another clear signal to the market that it wants to keep the interest rates stable and avoid volatility. But to send this... Humayun hopeful of talks with EU: Extra market access KARACHI, Oct 4: Minister for Commerce Humayun Akhtar Khan on Saturday said that he was hopeful of the outcome of the on-going negotiations over the 15 per cent extra market access... Fed’s Olson optimistic about US economy COLORADO SPRINGS (Colo), Oct 4: Federal Reserve Board Governor Mark Olson said on Friday there were enough good signs in the economy to make him optimistic about the US recovery.... Dollar surges against major currencies NEW YORK, Oct 4: The dollar surged against major currencies on Friday as a surprisingly robust US employment report for September gave glimmers of hope that economic recovery in the United... ADB to lend $66m to Azerbaijan MANILA, Oct 4: Azerbaijan can start tapping the Asian Development Bank (ADB) for loans this year, with about $66 million alloted for the new member over the next three years, the... US stocks jump NEW YORK, Oct 4: Stocks surged on Friday, racking up a third straight day of gains, after a report showing US employers added jobs for the first time in eight months... Premiership banks LONDON, Oct 4: The English Premiership has agreed a 57-million-pound (95-million-dollar) deal with financial giants Barclays to sponsor the championship for three years.... Iraqi bank unveils new currency BAGHDAD, Oct 4: Iraq’s Central Bank unveiled on Saturday the country’s new currency, which will go into use October 15, and which will push banknotes bearing Saddam Hussein’s smiling face into... Bush currency policy key for US firms MILWAUKEE, Oct 4: President George W. Bush vowed on Friday to press other countries to adopt currency policies that offer a “level playing field” for American companies, taking up a cause... Palm oil prices seen firmer in 2004 KUALA LUMPUR, Oct 4: Palm oil prices, currently trading at near seven-month highs, are likely to be firmer in 2004 due to tight supply and lower stocks of the world’s major... Congress urged to pass US energy bill WASHINGTON, Oct 4: President George W. Bush on Friday expressed frustration at Congress’ delay in acting on a broad energy bill, saying the legislation must be passed to help the US...

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