In Friday's South Asia/Middle-East papers

04 May 2007 06:00  [Source: ICIS news]

MUMBAI (ICIS news)--These were the top stories at 06:00 GMT in the following South Asia/ Middle-East newspapers’ online versions on Friday. To go to the individual websites, click the links below:

 

The Times of India

Front Page

 

Gujarat killings: State reinstates probe chief

In an interesting move on Thursday, the Gujarat government brought back IGP Geetha Johri as chief investigator in the “fake encounter’’ case in place of DIG Rajnish Rai. This was done just hours after the Supreme Court gave it a breather of sorts by deferring by a fortnight a decision on the Centre’s insistence on a CBI probe.

 

Malwani in fear as girls go missing

Shailkumari Shukla, 15, goes missing from her home.
l October 2006: Nikita Pariera (name changed), 13, is stalked by a stranger who attempts to grab her on the road. l November 2006: A kindergarten kid is found murdered, her body dumped in a gutter.

 

Business

 

Cement prices set to fall

With cement manufacturers in the country adopting a confrontationist attitude and deciding not to cut price, the government on Thursday conceded some ground and unveiled a new excise regime. The new system would lead to a price reduction of around INR 6 ($0.14, €0.1) per bag of 50kg.

 

Diamonds, ore & retail stand to gain

Products like finished imported diamonds and refrigerated motor vehicles, will become cheaper. Finance minister P Chidambaram on Thursday, replying to the debate on the Finance bill in Lok Sabha, announced a number of new measures on customs, excise and export duties.

 

The Economic Times

Front Page

 

FM yields a little but refuses to bend

Fringe Benefit Tax (FBT) on employee stock options (Esops) stays, but in a modified fashion. Venture fund investment in assorted infrastructure sectors, excluding power and telecom, will get the benefit of tax pass-through. These are the highlights of the amendments that finance minister P Chidambaram moved to his original budget.

 

RIL can’t sell gas allotted to ADAG: HC

It’s Reliance vs. Reliance once again, this time a court battle over the supply of natural gas from Reliance Industries’ (RIL) huge gas find in the Krishna Godavari basin. Anil Ambani-controled Reliance Natural Resources (RNRL) has secured an interim stay from the Bombay High Court, preventing RIL from selling 40m standard cubic metres per day of gas, out of its estimated potential of 80 MMSCMD. Mukesh Ambani-controlled RIL plans to appeal against the interim order in a division bench.

 

Khaleej Times

Front Page

Abe wins energy security, forges new Mideast links

Prime Minister Shinzo Abe’s first Middle East tour has boosted Japan’s energy security and launched a new broader relationship, experts say.

 

Support growing for wider trade curbs on Iran
Support is growing in the United States and Russia for action that would require European companies to curb business in Iran as a means of pressuring Teheran to end its nuclear programs, US and other diplomatic sources said on Thursday.

 

Business

 

Telecommunication deals to top $30bn in 2007

Predicting a sustained boom for the telecommunications sector in the region, industry analysts estimate that the amount that would be spent on mergers and acquisitions as well as on new telecommunications licences in the Middle East, Africa and India region to exceed $30bn (€22bn) this year.

 

Iraq resists Russian deal waiving debt for oil stake

Iraq, struggling to rebuild its war-shattered economy, has declared unacceptable an offer from Russia to forgive the debt it is owed by Baghdad in return for access to a major Iraqi oilfield.

 

Times of Oman

Front Page

 

Iraq seeks world help to quell bloodshed

Iraq on Thursday makes a push for international help to end devastating violence that has killed tens of thousands of people since the US-led invasion in 2003.

 

Iranian minister hails HM’s constructive views

His Majesty Sultan Qaboos bin Said gave an audience at Bait Al Barakah yesterday to Manouchehr Mottaki, foreign minister of Iran and head of the Iranian side in the Omani-Iranian Joint Economic Committee.

 

Business

 

TI to invest $1bn in Philippines

US-based Texas Instruments said Thursday it is investing $1bn (€0.75bn) to expand its operations in the Philippines.

 

Qantas bid faces crash landing

A private equity bid for Australia's iconic airline Qantas will fail unless a late rush of shareholders accepts the offer before it closes Friday, figures posted by the consortium showed Thursday.

 

Arab Times

Front Page

 

Bill discriminatory, forces women to stay at home: Political activist

Chairman of the Parliamentary Women Affairs Committee Saleh Ashour said the draft law on the social and civic services was a combination of several legislations pertaining to women's social security, housing and work leaves.

 

May Day should be official holiday in Kuwait: KTUF chief

Chairman of Kuwait Trade Union Federation (KTUF) Khaled Al-Azemi called Tuesday for declaring May 1st an official day in Kuwait to honour the working class in line with the tradition in all civilized countries.

 

Business

 

‘Fundamentals strong’; Moody raises Gulf Bank’s financial strength ratings

Leading rating agency Moody’s Investors Service has upgraded Gulf Bank’s financial strength rating (BSFR) from C- to C, as part of a review of its rating methodologies for Middle East banks.

 

EPS at 45 fils; NIG Q1 up

National Industries, Kuwait’s largest construction materials company, said on Tuesday its first-quarter profit more than doubled to its highest since 2005.

 

Dawn

Front Page

 

CJ seeks dismissal of full court plea

Chairman of the Parliamentary Women Affairs Committee Saleh Ashour said the draft law on the social and civic services was a combination of several legislations pertaining to women's social security, housing and work leaves.

 

List of invitees to Kabul jirga finalized

Afghanistan and Pakistan have finalised lists of about 350 people each to attend a joint jirga to tackle the Taliban insurgency, Pakistan's interior minister said on Thursday.

 

Business

 

Factors for slow export growth analysed: PM chairs meeting

Pakistan will have to improve its productivity level, ensure quality and concentrate on value-added products for achieving the desired level of export share in international trade.

French Accor to build 12 hotels in Pakistan

French hotelier Accor will build a dozen hotels in Pakistan in a deal with JS Group, a financial services firm, to fill a room supply gap in the mid-range market, reported Gulf News on Thursday.

 

Business Recorder

Front Page

 

Pak, Iran oil ministers agree to speed up IPI project

Pakistani and Iranian oil ministers met Thursday in Riyadh on the sideline of an Asian energy conference and agreed to speed up the Iran-Pakistan-India (IPI) gas pipeline project, according to message received from Saudi Arabia.

 

Oil prices slightly firmer in Asian trade

Oil prices were slightly firmer in Asian trade Friday as investors pondered a rash of kidnappings in African oil producer Nigeria and declining US gasoline (petrol) inventories, dealers said.

 

Business

 

The Rupee: small gains seen in interbank market

Firmness prevailed in the currency market on Thursday as the rupee showed modest recovery against dollar in process of trading, dealers said.

 

Structural reforms must to improve prospects for competing

Ishrat Hussain, former Governor State Bank and sitting chairman National Commission for Government Reforms, has said that structural economic reforms are necessary to improve Pakistan's prospects for competing in the global economy. It requires stable, functioning, competent and responsive institutions for implementation of these reforms, he said.

By: Staff Reporter
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