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November 8, 2003 Saturday Ramazan 12, 1424 Meat merchants’ strike hits tanneries business KARACHI, Nov 7: Tanneries in the metropolis have started feeling the pinch of the meat merchants’ strike following a decline of about 50 per cent in arrival of skins and hides... Chinese team due shortly to discuss investment ISLAMABAD, Nov 7: A high-powered Chinese business delegation will visit Pakistan shortly as a follow-up of President Pervez Musharraf’s visit to China in order to discuss new joint ventures between the... Maritime trade set to grow: UNCTAD GENEVA, Nov 7: World maritime trade looks set for fresh growth this year after setting a volume record in 2002, but could be held back by new security rules, the United... Income tax collection declines ISLAMABAD, Nov 7: The collection of income tax through voluntary compliance and collection on demand registered a significant decrease during the first quarter of 2003, over the same period of last... ST exemption on imported oilseeds ISLAMABAD, Nov 7: The Central Board of Revenue (CBR) has notified exemption of sales tax on import of oilseeds.... FTSE gains 52-point LONDON, Nov 7: Britain’s blue-chip share index closed sharply higher on Friday, led by market-sensitive insurance stocks, as investors cheered strong US jobs data showing the improving health of the world’s... Oil prices rise amid volatile trading LONDON, Nov 7: Oil prices bounced back again on Friday in a volatile market that has seen a wave of buying and reaction selling in the wake of unexpectedly weak figures... SCB gets SSGC data collection contract KARACHI, Nov 7: Sui Southern Gas Company Limited (SSGC) has awarded the stub collection and data processing mandate to Standard Chartered Bank (SCB) for covering Sindh and Balochistan.... GDP growth FRANKFURT, Nov 7: A sharp contraction in industrial output in Germany in September means that the eurozone’s biggest economy is likely to grow only fractionally in the third quarter, analysts here... Govt may invoke law for cane crushing ISLAMABAD, Nov 7: The government is expected to invoke sugarcane act of 1950 to use punitive action in case sugar mills fail to start crushing by November 15.... Delay in crushing to hit wheat crop LAHORE, Nov 7: Delayed cane crushing is building a grim scenario for the next wheat crop as a little over one eighth of the wheat land is covered by sugarcane in... Stocks resist fresh decline, up 30.85 points KARACHI, Nov 7: Stocks on Friday resisted fresh decline as investors covered positions on selected counters under the lead of energy sector but the future direction of the market is still... US jobless rate falls to 6 per cent WASHINGTON, Nov 7: The US labour market crunch crumbled in October as the surging economy churned out 126,000 jobs — twice as many as had been expected — and the unemployment... Removal of businessmen names from ECL sought LAHORE, Nov 7: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has sent a letter to Interior Minister Syed Faisal Saleh Hayat, seeking removal of names from the exit... Suzuki profit up by 27pc TOKYO, Nov 7: Suzuki Motor Corp, Japan’s leading minivehicle maker, reported a 27 per cent jump in interim operating profit on Friday, helped by surging sales in Asia and aggressive cost-cutting.... Alstom sparks debate on bankruptcy reform LONDON, Nov 7: The troubles of high-profile European companies such as Alstom and Cirio have triggered calls to introduce US-style Chapter 11 bankruptcy procedures, but some experts doubt their value.... Prices ease modestly on cotton market KARACHI, Nov 7: Cotton prices on Friday modestly eased from the current peak levels as spinners withdrew to the sidelines anticipating further decline in prices in response to limit-fall in New... Karachi Port perations KARACHI, Nov 7: Five vessels carrying containers and steel coils are expected to arrive at the outer anchorage on Saturday, according to KPT sources.... Bangladesh cuts bank rate to 5pc DHAKA, Nov 7: The Bangladesh Bank has lowered the bank rate from 6 per cent to 5 per cent with immediate effect in order to encourage commercial banks to reduce interest... Duties cut KATHMANDU, Nov 7: Tibetan customs officials have agreed to scrap all duties on goods imported from Nepal, officials said on Friday....

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