22 January 2004 Thursday 29 Ziqa'ad 1424 Prudential regulations for NBFCs announced ISLAMABAD, Jan 21: The Securities and Exchange Commission of Pakistan on Wednesday issued prudential regulations for the non-banking finance companies (NBFCs) under which up to 80 per cent of credit could be extended ... Climate good for investment: US chamber KARACHI, Jan 21: The United States Chamber of Commerce has identified South Asia as most favourable region, specially Pakistan for making investments and increasing trade. ... Banks to use KIBOR as benchmark from Feb 1: Corporate lending KARACHI, Jan 21: Karachi inter-bank offered rate or KIBOR will become a valid reference rate for corporate lending by banks from February 1. ... Insurance cover for SMEs sought KARACHI, Jan 21: Small and medium enterprises are seeking insurance cover for their business activities and are demanding that an insurance company guaranteed by the government be established. ... SBP keeps TBs rate stable: 81pc bids scrapped KARACHI, Jan 21: The State Bank on Wednesday again scrapped 81 per cent of the bids received for three-month and one-year treasury bills to keep their yields from rising. ... OGDCL shares credit in CDS accounts completed ISLAMABAD, Jan 21: The Lead Manager to OGDCL IPO, KASB Securities has confirmed to the Privatization Commission that the Balloter to the offer and OGDCL shares Registrar Noble Computer Services (Pvt) Ltd (NCSL) has completed the process ... Exporters call for talks on DTRE issue KARACHI, Jan 21: The Pakistan Readymade Garments Manufacturers and Exporters Association has invited the Export Promotion Bureau to enter into negotiations over the issue of Duty and Tax Remission for Exports (DTRE) to make them acceptable to all category of exporters. ... Export trade needs govt support FAISALABAD, Jan 21: The All Pakistan Cloth Exporters Association has demanded of the government not to change its policies rampantly and take into confidence the exporters before the issuance of any orders related to them. ... ABL earns Rs2.2bn in 2003 KARACHI, Jan 21: Allied Bank earned Rs2.2 billion operating profit in 2003 showing an annual increase of 30 per cent. During the year the bank recovered or settled Rs7.8bn non-performing loans ... Cotton prices remain steady KARACHI, Jan 21: Cotton prices on Wednesday were firmly held around the previous levels after a section of spinners resumed their buying operations against forward sales of yarn. ... Index crosses 4,700-point barrier KARACHI, Jan 21: Stocks were back on the rails on Wednesday as both financial institutions and retailers covered positions at the lower levels after an imminent feared crisis owing to higher badla rates was averted. ... CBR online job posting ISLAMABAD, Jan 21: The Central Board of Revenue has decided to conduct internal job posting for the reform functions and selected field positions through online process as part of the restructuring of tax administration. ...

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