Remittances jet up to $4.277bnHigher by 18pc in 7MFY09
Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $4,277.31 million was received in the first seven months (July-January) of the current (2008-09) fiscal year, showing an increase of $653.91 million or 18.05 per cent over the same period of the last fiscal year more... (FD)

Pakistan to pay $516 million against Eurobond maturity on February 19
Pakistan would pay 516 million dollars against 500 million dollars Eurobond on February 19 after its maturity, which was issued in 2004. "Pakistan resumed getting finances from international financial market and issued a Eurobond, which is maturing now in February," says a Finance Ministry officials requesting not to be named more... (BR)

IMF may be asked to reduce revenue target
Pakistan is likely to request the International Monetary Fund to revise the revenue target down to Rs1.25 trillion in view of a Rs45 billion shortfall in revenue collection during the seven months of the current fiscal year more... (D)

Obama, Zardari agree on ‘active engagement'
US President Barack Obama telephoned President Asif Ali Zardari on Wednesday, a day after his special envoy met the Pakistani leader with a message from his boss urging more... (D)

EU concerned over Abdul Qadeer Khan release
European Union foreign policy chief Javier Solana said on Wednesday he had told Pakistan's government of his concern at the release from house arrest of nuclear scientist Abdul Qadeer Khan. "I don't think it's a positive signal, this is the message that I transmitted to the authorities of Pakistan during the week. I think that ... in the moments we are living, with the problems of proliferation, it's not a good signal," Solana told Reuters in an interview in Moscow more... (BR)

SBP amends banking prudential regulations
The State Bank of Pakistan has set new code for the obtaining of financial statement from borrowers. SBP has asked banks and DFIs to obtain copy of audited financial statement of every borrower, which is a limited company, or where the exposure limit exceeds Rs 10 million more... (BR)

NTC imposes anti-dumping duty on PSF from China
The National Tariff Commission (NTC) has imposed preliminary anti-dumping duty on polyester staple fibre (PSF) imported from China at the rate of 10.44 percent on cost and freight (C&F) value, and also reported it to the World Trade Organisation (WTO), sources in Commerce Ministry told Business Recorder. With the implementation of this decision, effective from February 6, 2009, two Chinese companies, out of 54, remain exempt from charge of anti-dumping, sources said more... (BR)

SECP may convene meeting with IAP to discuss insurance related issues
The Securities and Exchange Commission of Pakistan (SECP) is expected to convene a meeting with the Insurance Association of Pakistan (IAP) in Karachi to discuss insurance-related issues, including premium, re-insurance and terrorism cover, to investors more... (BR)