26 September 2004 Sunday 10 Shaban 1425 Containers held up: Kabul wants cess on ATT goods withdrawn ISLAMABAD, Sept 25: The Afghan government has asked Islamabad to withdraw the infrastructure cess by September 28 levied on Afghan Transit Trade (ATT) goods by the Sindh government ... CBR for effective implementation of TRIPS ISLAMABAD, Sept 25: The Central Board of Revenue (CBR) has suggested various measures to the government for effective implementation of an agreement on trade related aspects of intellectual property rights (TRIPS) in the country ... New private banks: outfits fit for growth KARACHI, Sept 25: Initiated in 1997, reforms have changed the banking landscape with new private banks set up in the 1990s, outperforming their major local and foreign peers to clinch a growing market share ... Riyadh to enhance oil production capacity RIYADH, Sept 25: Galloping global oil consumption, pessimistic projections of Matthew Simmons & Co forecasting imminent depletion of the major Saudi oil fields including Ghawar ... Meeting on TIFA: Pakistan to seek greater access to US markets ISLAMABAD, Sept 25: Pakistan would seek greater access to the US markets for its export both textile and non-textile items during the first meeting of the council set up under the Trade and Investment Framework Agreement (TIFA). ... Five groups seek to set up Islamic banks KARACHI, Sept 25: Three foreign and two local groups have applied to the State Bank for establishing complete Islamic banks in Pakistan, while most of the banks, including local and foreign, have applied either for licences or opening of more branches. ... Pipro placed under commerce ministry ISLAMABAD, Sept 25: The government has decided to entrust the ministry of commerce with the overall administrative responsibility of the proposed Pakistan Intellectual Property Rights Organization (Pipro). ... Sony-led consortium to acquire MGM studios LOS ANGELES, Sept 25: A consortium led by Sony Corp. that includes US cable television operator Comcast has finalized a deal to acquire MGM studios for around $4.9 billion, official said on Friday. ... Sales Tax Act 1990 amended ISLAMABAD, Sept 25: The government has made amendment in the Sales Tax Special Procedures Rules, 2004 by inserting the words "including the amount of late payment surcharge" after the word "surcharges". ... Badla rates rise to 9.9pc KARACHI, Sept 25: Carryover rates on the Karachi Stock Exchange posted a fresh increase of 200 basis points at 9.9 per cent from the previous 7.9 per cent because of tight money market, analysts said. ... Distributors of LPG end strike KARACHI, Sept 25: LPG Distributors and Welfare Association has called off the strike after the government assurance that it would take up the increase in price with the producers. ... Desks for NTN verification ISLAMABAD, Sept 25: The Central Board of Revenue (CBR) has set up special desks across the country for on the spot national tax number (NTN) verification by the taxpayers. ... Paper, board output up 3.98pc ISLAMABAD, Sept 25: Pakistan produced 34,474 tons of paper and paperboard in the first month of the fiscal year 2004-05 as compared to 33,153 tons during the same period last year, showing an increase of 3.98 per cent. ... Prices ease on cotton market KARACHI, Sept 25: Cotton prices on Saturday eased from the recent higher levels as ginners continued to unload long positions in an apparent panic amid strong whispering against the officially fixed lower lint rates. ... India's soyameal exports dip MUMBAI, Sept 25: India's soyameal exports in the current year could hover around 2.5 million tons, sharply down from 3.4 million tons a year ago due to a smaller soyabean crop and a dip in global prices, a senior industry official said. ... Brazilian debt set for biggest fall this year BRASILIA, Brazil, Sept 25: Brazil's closely-watched debt burden is set this year to stage its biggest decline in a decade as years of cost-cutting and hard-won stability finally pay off, analysts said on Friday. ... Election for KCCI chief held KARACHI, Sept 25: Elections for the president and 14 seats of the managing committee of the Karachi Chamber of Commerce and Industry (KCCI) were held here on Saturday. ... Asian Shippers' Council launched KARACHI, Sept 25: The Asian Shippers' Council (ASC) has been launched with an objective to discuss issues of interest to present and advocate an Asian view to the international community. ... Business welcomes peace move KARACHI, Sept 25: India-Pakistan Chamber of Commerce and Industry President Senator Ilyas Ahmed Bilour has welcomed the joint statement issued by President Pervez Musharraf and Indian Prime Minister Manmohan Singh ... Karachi Port operations KARACHI, Sept 25: Three ships carrying containers and to load cement are expected to arrive at the outer anchorage on Sunday, according to KPT sources. ...

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