| 29 May 2004 | Saturday | 09 Rabi-us-Saani 1425 |
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Saudi group plans $1bn investment in Pakistan: MoU for billet plant signed
ISLAMABAD, May 28: Al-Tuwairqi Group (ATG) of Saudi Arabia plans to invest around $1 billion in Pakistan's banking, textiles, steel and mineral sectors in the near future. ... 
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Spinners want duty on cotton waste to go
MULTAN, May 28: The Pakistan Open End Spinners Association has demanded abolition of 25 per cent duty on import of cotton waste. ...
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Textile sector grows by 4.5pc
KARACHI, May 28: Large-scale manufacturing sector grew by 13.6 per cent in nine months to March 2004 against 7.9 per cent in nine months to March 2003. ...
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Political solution only way out: NFC stalemate
KARACHI, May 28: A high-level political intervention to end the National Finance Commission (NFC) stalemate and to preempt any possible firework in the National Economic Council (NEC) meeting scheduled on Monday at Islamabad has now become imminent. ...
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Yield on long-term bonds moves up
KARACHI, May 28: Weighted average yield on long-term Pakistan Investment Bonds or PIBs moved up by 41-68 basis points as the State Bank sold about Rs14.86 billion of these bonds at their face value. ...
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Pakistan trims wheat estimate
KARACHI, May 28: Pakistan has revised its wheat output estimate to 19.7 million tons from a target of 20 million for the current 2003-04 crop (Nov-April) due to bad weather, Agriculture Minister Sardar Yar Muhammad Rind said on Friday. ...
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Faletti's Hotel bidding today
ISLAMABAD, May 28: The Privatization Commission has finalized all arrangements to hold bidding for the sale of Faletti's Hotel here on Saturday. ...
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Duty relief for farm sector likely
ISLAMABAD, May 28: The government is considering a proposal to reduce duties and taxes on import of tractors and exempt agricultural equipments from levy of all taxes in the upcoming budget. ...
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Govt urged to reduce burden on common man
KARACHI, May 28: Korangi Association of Trade Industry (KATI) Advisory Board chairman Shaikh Manzar Alam has lamented that despite big economic achievements, there has been no change in the suffering of common man. ...
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Banks asked to introduce internal controls
KARACHI, May 28: The State Bank has asked banks and development finance institutions or DFIs to introduce an effective system of internal controls. ...
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Physical business slow on cotton market
KARACHI, May 28: The cotton market on Friday maintained firm trend but physical business was relatively slow partly because of a short Friday session and higher asking prices by ginners. ...
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Stocks stage broad recovery, up by 25.89 points
KARACHI, May 28: Stocks on Friday staged a broad recovery as leading investors were back in the market and made extensive covering purchases on the blue chip counters aided by some "budgetary leaks". ...
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