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COVER STORY
EURO 

The launching of Euro as the single cash currency in the economic powerhouse of 12 EU countries housing 300 million people from January 1 this year has international implications both financial and political. While the performance of euro against the dollar has remained less than satisfactory the changed post-September 11 world is expected to benefit euro in the time to come as 10 more candidates will join the eurozone by 2004.

 

 


PAK SAUDI FERTILIZER
Fauji Fertilizer submitted the highest bid for Pak Saudi Fertilizer. The most surprising aspect of this entire episode was the difference between the bids placed by other companies. Some analysts believe that Pak Saudi's acquisition will be a positive development for FFC. Others believe that it is an expensive transaction and the fate depends on future strategy of the company.


MUTUAL FUNDS
Arif Habib Investments have launched two mutual funds wroth Rs500 million. This is the first entry in the mutual fund industry after a gap of 5 years. Mutual funds provide institutional support for a wide range of participants in the economic chain. These facilitate flow of capital both institutional and small savings to the capital market and through that an efficient allocation to trade and industry which in turn fuels economic growth.


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