27 November 2004 Saturday 14 Shawwal 1425 Banks, DFIs to issue financial derivatives KARACHI, Nov 26: The State Bank has allowed banks and development finance institutions or DFIs to issue financial derivatives after meeting the criteria set for this purpose. ... Financial sector assets grew by 15.3pc in 2003: SBP releases report KARACHI, Nov 26: Corporate sector received the largest chunk of 54 per cent of the total credit extended by the financial sector in 2003, followed by small and medium enterprises or SMEs that received 19 per cent. ... Islamabad asked to improve saving: Economic progress KARACHI, Nov 26: State Bank Governor Dr Ishrat Husain said on Friday that if Pakistan had to achieve economic progress it would have to strictly follow the role model of Asean economies that have had higher domestic saving rate ... FDI rises by 62pc in four months ISLAMABAD, Nov 26: The inflow of foreign direct investment during the period July-October 2004 reached $275.3 million as compared to $170.3 million during the same period last year, recording an increase of 62 per cent. ... PS issues price list to check profiteering KARACHI, Nov 26: Under the garb of international price hike, some of the steel manufacturers and trader dealers are pocketing about Rs4000 to Rs6000 per ton unfair additional premium from the public on items supplied ... WB may increase Pakistan's annual assistance ISLAMABAD, Nov 26: The government on Friday asked the World Bank to assist Pakistan in achieving its goals of poverty alleviation, improvement in the quality of life of the masses and easy access to justice. ... New customs clearing system from March KARACHI, Nov 26: Central Board of Revenue Chairman Abdullah Yousuf said on Friday that a new prompt, transparent and simplified custom clearing system would be implemented from March 2005. ... Pakistan urged to ensure ISO certification: Export products ISLAMABAD, Nov 26: The World Trade Organization has urged the government to make ISO-9000 certification compulsory "for all the country's commercial produce" failing which Pakistan's exports could face declining trends in the coming years. ... US embargo: terms for compensation KARACHI, Nov 26: The Textile Quota Management Directorate of EPB will provide facilities or compensate the exporters in such categories where the US government will impose embargo. ... Exposure to hedge funds hits $900bn KARACHI, Nov 26: International financial institutions have increased their exposure to hedge funds which grown from $50 billion in 1990 to $900 billion to date. ... Another lean session on cotton market KARACHI, Nov 26: Cotton market on Friday passed through another lean session as ginners continued to be active sellers at the falling prices despite the presence of the spinners and the TCP. ... Stocks finish weekend session well above 5,550 KARACHI, Nov 26: The KSE 100-share index on Friday finally finished well above the level of 5,550 and analysts predict it could well prove a takeoff point for its upward march to the coveted goal of 6,000 in due course. It rose 33.60 points at 5,557. ...

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