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December 5, 2003 Friday Shawwal 10, 1424 Four major entities IPOs in Jan-March ISLAMABAD, Dec 4: Encouraged by the overwhelming success of initial divestment of Oil and Gas Development Company Limited (OGDCL) the government has decided to make initial public offerings of four major... SBP monetary policy statement next month KARACHI, Dec 4: The State Bank will issue its monetary policy statement for the second half of the current fiscal year in January 2004. It had issued the monetary policy statement... EC to consult Pakistan on amendment: Rice import regime ISLAMABAD, Dec 4: Commerce Minister Humayun Akhtar Khan said on Thursday Pakistan would strongly oppose any amendment in the rice import regime that would impact Islamabad’s export of super Basmati to... Phutti arrival falls by 0.626m bales KARACHI, Dec 4: Phutti arrival into the ginneries has started dwindling as flow during the last fortnight registered a steep fall of around 0.626 million bales bringing the overall shortfall by... SAFTA likely in January ISLAMABAD, Dec 4: The Saarc-member countries are likely to sign South Asia Free Trade Agreement (SAFTA) in January next year to increase the volume of regional trade among the member countries.... Pakistan, India may sign MoU on listing LAHORE, Dec 4: Pakistan and India may sign a bilateral memorandum of understanding (MoU) to pave the way for and facilitate cross-border listing of their companies on each other’s stock exchanges.... Islamabad, Delhi agree on tariff concessions KATHMANDU, Dec 4: Pakistan and India have agreed on 500 products that would receive tariff concessions in another step towards a proposed free trade agreement for South Asia, it was announced... State Bank injects Rs16.45bn KARACHI, Dec 4: The State Bank on Thursday pumped Rs16.45 billion into the banking system — Rs5 billion for one week and Rs11.45 billion for two weeks ahead of a crucial... Dumping probe violative of agreement LAHORE, Dec 4: The ongoing investigation by the European Commission into the anti-dumping case against Pakistani bedlinen exports to Europe is “violative of the spirit of the anti-dumping agreement.”... Oil prices LONDON, Dec 4: Oil prices see-sawed on Thursday after Opec decided against a production cut despite worries about a decline in demand early next year as winter thaws in the northern... ECB, BoE rates steady FRANKFURT, Dec 4: The European Central Bank, opting on Thursday to leave its key interest rates on hold for the remainder of the year, nevertheless raised a warning on the outlook... OGDCL records all-time high turnover in easy market KARACHI, Dec 4: A massive activity of 160m shares in OGDCL on the forward counter featured the Thursday’s trading in an otherwise easy market as leading shares finished with an extended... Wapda asks govt to take over Rs29bn Fata liabilities ISLAMABAD, Dec 4: Wapda has asked the federal government to take over its liabilities worth Rs29 billion accumulated on account of electricity arrears of the Federally Administered Tribal Areas (FATA) to... GST on services NWFP collects less than Rs100m PESHAWAR, Dec 4: NWFP received less than Rs100m under the head of general sales tax (GST) on services — a provincial levy collected by the Central Board of Revenue (CBR) —... Upward trend on cotton market KARACHI, Dec 4: Cotton market on Thursday maintained an uppish leaning as ginners held on to their positions anticipating further increase in prices owing to modest fall in the latest arrival... 4,200 auto units imported under personal baggage LAHORE, Dec 4: Out of 6,659 cars, buses, trucks and vans imported during the first 10 months of 2003, some 4,200 or 63 per cent were brought under personal baggage/gift schemes,... Changing of auditors: clarification KARACHI, Dec 4: Institute of Chartered Accountants of Pakistan (ICAP) has issued a press release to clarify the matter relating to rotation of auditors.... FPCCI mid-term changes KARACHI, Dec 4: Senator Ilyas Ahmad Bilour and leader of the Businessmen Forum in the FPCCI on Thursday assured that all commitments made for bringing mid-term changes at the top slot... Karachi Port operations KARACHI, Dec 4: Four ships carrying containers, general cargo and tallow are expected to arrive at the outer anchorage on Friday, according to KPT sources.... SMEs KARACHI, Dec 4: The Small and Medium Enterprise Development Authority (Smeda) has invited the Union of Small and Medium Enterprises (Unisame) to collaborate for development of SMEs....

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