02 November 2004 Tuesday 18 Ramazan 1425 SBP tightens rules to check rupee slide KARACHI, Nov 1: The State Bank, on Monday, tightened rules to check outflows of foreign exchange and help the rupee recover its lost strength. The rupee lost 5.5 per cent value against the US dollar in four months of this fiscal year ... Pakistan needs to diversify exports: ADB ISLAMABAD, Nov 1: Pakistan needs to diversify its exports to grab its due share in the World's export market like other countries of the region, says the Asian Development Bank (ADB). ... Efforts on to increase export of textiles ISLAMABAD, Nov 1: The textile ministry is considering a string of measures for increasing export of textile products to the Saarc member countries. ... Rupee gains 48 paisa against dollar KARACHI, Nov 1: The rupee on Monday gained 48 paisa or 0.8 per cent value against the US dollar as the State Bank started paying oil import bills and also sold dollars in the market to stabilize the local unit. ... RTAs, FTAs to kill free trade objective: WTO quota-free regime 60 days from now KARACHI, Nov 1: With only sixty days left to WTO's quota free regime from January 1, 2005, exporters of value-added textile goods are in a quandary as to how they would get their due share in the free market ... Essential items' prices decline KARACHI, Nov 1: Prices of a number of essential items declined during the last month because government had fixed prices, which were on lower side and supplies were frequent from the producing areas. ... Report on securities firms' activities ISLAMABAD, Nov 1: The advisory board of the Emerging Markets Committee (EMC) of the International Organization of Securities Commissions (IOSCO) has approved the final report of the Working Group-3 (WG3) on "Cross-boarder activities of securities firms in emerging markets". ... State Bank sucks in Rs4.15bn KARACHI, Nov 1: The State Bank on Monday sucked in Rs4.15 billion from a fairly liquid inter-bank market through sale of one-week repurchase agreements using treasury bills as collaterals. ... Clarification KARACHI, Nov 1: The Sui Northern Gas Pipelines Limited (SNGPL) has clarified that it was neither fined by the Oil and Gas Regulatory Authority (ORGA) for failing to reduce targeted losses nor any independent audit of the company was carried out. ... Oil prices fall by $2 LONDON, Nov 1: Oil prices fell heavily on Monday, taking US crude below $50 on speculation that a US election win for Senator John Kerry could ease the geopolitical friction that helped spark this year's record rally. ... Trading gets slow on cotton market KARACHI, Nov 1: Cotton market on Monday remained unsettled as ginners could not precisely decide whether or not to hold to their positions or selling at the lower prices offered by spinners. ... Stocks plunge by 85 points on panic-selling KARACHI, Nov 1: Stocks on Monday received massive battering as the KSE 100-share index plunged by 85 points on panic-selling triggered partly by uncertainty about the US presidential elections ...

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