In Thursday's South Asia/Middle East papers

17 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 Thursday. To go to the individual websites, click the links below:

 

The Times of India

Front Page

 

FIRs must be filed in all ragging cases, orders SC

Ragging could well become a crime of the past. In the strictest measures yet to curb the menace, the Supreme Court on Wednesday warned students that if they harassed freshers physically or mentally, they would be booked by the police, expelled from college and denied future admissions.

 

Left backs Pranab for president

The Left parties have decided to back the candidature of foreign minister Pranab Mukherjee for president, but the Congress leadership is still to make up its mind on whom to field in the July contest for the top constitutional office.

 

Business

 

Mallya extracts his pint of flesh

After assuming charge as chairman of UB group (now United Spirits) at 28, Vijay Mallya, at 52, has pulled off the biggest deal of his career in Glasgow. The self-styled "king of good times", acquired Scottish distiller Whyte & Mackay for $1.18bn.

 

Demerger may upset Bajaj settlement

The board of Bajaj Auto will meet on Thursday to decide on the demerger of the company businesses into two separate arms - manufacturing, that is, its automotive business, and its financial operation, including Bajaj Allianz insurance and its non-banking ops.

 

The Economic Times

Front Page

 

Now, Whyte and Mallya

After Ratan Tata and Kumar Birla, it’s Vijay Mallya’s turn to strike Single Malt in Glasgow. ET broke the big story: UB finally inks the $1.18bn acquisition of Whyte & Mackay. With this, Mallya not only acquires his father’s favourite brand Isle of Jura, but also takes home a rare bottle of Dalmore.

 

Anything to buy Peace

The simmering dispute in the Sheth family, which owns 28% of India’s largest and oldest private shipping company - Great Eastern Shipping (GE Shipping) - may be approaching some sort of resolution.

 

Khaleej Times

Front Page

 

Vice-president will lead UAE delegation to South Korea

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, will start on Monday a two-day state visit to South Korea.

 

Times to be printed in UAE

The Times and The Sunday Times will start publishing their international editions in the Middle East from 21 May. Edited in London, the international editions will be printed in the UAE.

 

Business

 

DIFC acquires 2.2% stake in Deutsche Bank

DIFC Investments, the investment arm of the Dubai International Financial Centre, has acquired a 2.2% stake in Deutsche Bank, making it the bank's largest external strategic shareholder and the second Dubai-based entity to take a sizeable equity in a leading global bank this month.

 

Islamic finance in Pakistan set to take off

Pakistan is a leader in advancing initiatives for Islamic finance, and is seeing the sector grow rapidly and exponentially, said Dr Shamshad Akhtar, governor of the State Bank of Pakistan, the country's central bank, speaking to Khaleej Times.

 

Times of Oman

Front page

 

Ahmadinejad thanks His Majesty

His Majesty Sultan Qaboos bin Said has received a cable of thanks and appreciation from Dr Mahmoud Ahmedinejad, President of the Islamic Republic of Iran, after the conclusion of his visit to the Sultanate.

 

Greetings to Norway

His Majesty Sultan Qaboos bin Said has sent a cable of greetings to King Harold V of Norway on the occasion of his country’s National Day.

 

Business

 

Ministry of Education honours NBO

The Ministry of Education recently honoured the National Bank of Oman (NBO) at a function held under the auspices of Yahya bin Saud bin Mansour Al Sulaimi, Minister of Education, in the presence of undersecretaries, students and parents.

 

Oman Refinery wins "Excellence" award

Oman Refinery Company (ORC) has bagged the Oman Awards for Excellence Environmental Award 2006 in recognition of its significant contribution to the protection of the environment. In the past, ORC had received a number of awards. It had received accreditation of three ISO standards, a British Safety Award for 2004 and 2005, HM Cup for Best 5 Factories in Oman 2005, Opal Award 2005, upgraded ISO 14001:2004 for environment management systems and an award from Saudi Arabia for environment management.

 

Arab Times

Front Page

 

Speaker voices concern over national democracy

Chaos ruled the National Assembly on Tuesday as MPs exchanged heated words and accused each other of embezzling public funds forcing Parliament Speaker Jassem Al-Khorafi, who failed to restore order, to adjourn the session. Shouting and arguments broke out in the Abdullah Al-Salem Hall as lawmakers resumed discussing the first report presented by the Public Fund Protection Committee.

 

Police arrest gang of 7 Asians in large-scale robbery of "wires"

Jahra securitymen have arrested a gang of seven Bangladeshi men who stole electrical and telephone wires at Amghara Scrapyard on Monday.  After noticing an increased number of electricity and telephone wire robbery cases in Jahra, Director-General of Jahra Security Department Brigadier Dr Mustafa Zuaibi formed a team to track down the thieves. The team noticed a speeding bus heading towards the Amghara Scrapyard, and chased the bus and caught the gang red-handed with 28 bags containing aluminium and copper wires.

 

Business

 

MTC, Agility pace market decline; Profit-taking pummels KSE as index plunges 102.6 points

The Kuwait Stock Exchange sagged, pummelled by a bout of profit-taking. The market bled 102.6 points, snapping a 4-day gaining spree even as volume turnover dipped. The day’s decline was paced by MTC and Agility. Most of the blue chips closed in the red. KSE index closed 0.9% down at 11,006 points as the market sentiments turned brittle.

 

Kuwait has agreed not to change forex policy

Central banks of six Gulf oil producers will meet to coordinate a response to any US interest rate cut, the United Arab Emirates central bank said, signalling growing regional concern about inflation. A regional meeting on interest rate policy would be an unusual step for the central banks of the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman, which have pegged their currencies to the US dollar.

 

Dawn

Front Page

 

Iraq rejects proposal for OIC force

Iraqi Foreign Minister Hoshyar Zebari on Wednesday rejected a Pakistani proposal for a Muslim peacekeeping force, saying more foreign troops were not welcome in Iraq.

 

Clashes in Tank leave six people dead

Six people were killed and 15 others, including four policemen, wounded in clashes between personnel of law-enforcement agencies and Islamic militants in troubled Tank city on Wednesday, officials said.

 

Business

 

Textile mills seek govt help to close units: Losses become unbearable

Spinners want the government to devise a regulatory mechanism to facilitate the closure and possible subsequent liquidation of units incurring unsustainable losses because of internal and external factors.

 

Steel mills to use iron ore found in Balochistan: Tuwairqi contacts mining firm

Two steel mills — the state-owned Pakistan Steel and the upcoming private sector project - Tuwairqi Steel Mills - will use the newly found iron ore.

 

Business Recorder

Front Page

 

Prime Minister says elections to be held on schedule, open for observation

Prime Minister Shaukat Aziz on Wednesday said the government is committed to holding elections on schedule and the entire electoral process will be open for inspection, both by the local and international observers.

 

Socio-economic uplift: Chinese firms given powers to reject projects

Pakistan has given discretionary powers to Chinese companies to select or reject any project proposed a under five-year development programme to be jointly implemented for the socio-economic uplift of Pakistan, well-placed sources told Business Recorder here on Wednesday.

 

Business

 

Trade co-operation with Pakistan growing: UK high commissioner

British High Commissioner to Pakistan Robert Brinkly and his wife called on Punjab Chief Minister, Chaudhry Pervaiz Elahi at Chief Minister's Secretariat, here on Wednesday. First Secretary of British High Commission James Revill was also present.

 

FTAs with Malaysia, Singapore soon: Humayun

Commerce Minister Humayun Akhtar Khan on Wednesday said Pakistan will sign free trade agreements (FTAs) with Malaysia and Singapore while negotiations are in progress for signing of similar agreements with European countries.

By: Staff Reporter
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