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November 30, 2003 Sunday Shawwal 5, 1424 CBR, Wapda in row over tax on Fata power bills: PM’s intervention sought ISLAMABAD, Nov 29: Wapda has sought the prime minister’s intervention with regard to a ruling of the Central Board of Revenue extending application of general sales tax law to the Federally... Poverty a selling point for provinces KARACHI, Nov 29: Poverty has now become a major business selling point for all the four provinces that are now literally in a run to outmatch each other in establishing the... $ down 1.1pc against rupee in Oct-Nov KARACHI, Nov 29: The rupee gained 64 paisa or 1.1 per cent against the US dollar in the inter-bank market in October-November as the State Bank changed its support level for... ECO free trade area soon ISLAMABAD, Nov 29: The member countries of the Economic Cooperation Organization (ECO) have, in principle, has agreed to declare the region as a free trade area shortly.... 9 BD firms’ IPO oversubscribed DHAKA, Nov 29: Belying market apprehensions, the initial public offerings (IPOs) of nine companies recently received massive response from the ordinary shareholders, resulting in unprecedented oversubscriptions of the offerings.... Engines of global economic growth KARACHI, Nov 29: The euro touched this week a record high of over 1.20 to the dollar on concerns of growing US trade deficit. Global traders saw the dollar weakening to... Rising debt Imperils US fiscal recovery NEW YORK, Nov 29: Exploding federal debt has resurrected decade-old fears that the US government’s budget woes will undermine a fiscal recovery for states and cities.... Global Corporate tax proposed ROME, Nov 29: Malaysia’s former prime minister Mahathir Mohammed called Saturday for worldwide taxation of multinational corporations, denouncing the World Trade Organization (WTO) for favouring rich countries.... US factory Layoffs seen ending WASHINGTON, Nov 29: After a blood-letting that cost 2.8 million jobs in just over three years, US factory payrolls are expected to soon start inching higher, economists believe. But many manufacturing... ‘Assessment matters fall outside FTO jurisdiction’ ISLAMABAD, Nov 29: President General Pervez Musharraf has accepted the representation of the tax authorities and said assessment matters fell outside the jurisdiction of the Federal Tax Ombudsman (FTO).... Iran to develop giant oilfield TEHRAN, Nov 29: Iran is pressing ahead with plans to develop its giant Azadegan oilfield with the help of foreign investors, a senior Iranian official said.... Stocks may take cue from strong US data NEW YORK, Nov 29: Investors will straggle back from a weekend of turkey leftovers and daunting lines at cash registers to a fresh month on Wall Street and more data that... Japan takes over banking group TOKYO, Nov 29: The Japanese government announced a plan on Saturday to place collapsed regional banking group Ashikaga Financial Group under state control to help stabilize the nation’s financial system.... Inquiry against tax officers ordered ISLAMABAD, Nov 29: The Federal Tax Ombudsman (FTO), Justice (Retd) Saleem Akhtar, has recommended to Central Board of Revenue (CBR) for initiation of an inquiry against tax officials for harassing a... China to focus on reforms BEIJING, Nov 29: China will focus on restructuring the economy and reinforcing the importance of agriculture in 2004, a government economic conference has decided, official media reported on Saturday.... President sets aside FTO decision on returns ISLAMABAD, Nov 29: The President through an order has set aside the decision of the Federal Tax Ombudsman (FTO) in around 109 complaints filed against the CBR, recommending acceptance of returns... India seeks European investment NEW DELHI, Nov 29: Indian Prime Minister Atal Behari Vajpayee on Saturday announced an ambitious 25-billion-dollar ports project and invited the European Union to invest in the venture.... Opec chief TEHRAN, Nov 29: Iran said on Saturday it was standing firmly behind its own candidate for secretary general of the oil cartel Opec and warned that it would not vote for...

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