In Friday's South Asia/Middle East papers

18 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

 

Final to act top begin today

It all began on a Friday 14 years ago. Its finale is also beginning on a Friday. Starting today the legal closure of a case that created history and will decide Mumbai’s first and biggest terror attack will commence its final countdown. Special Tada judge P D Kode will start pronouncing the sentences of the 100 guilty accused.

 

Terror trial

The Final 100 Who Have Been Found Guilty The Conspirators: 44 (found guilty of criminal conspiracy including facilitating the blasts, planning, landing of arms and explosives, training, making bombs, planting) The Abettors: 47 (found guilty under Section 3(3) of Tada) Those Who Landed The Smuggled Arms: 5 (found guilty only under Customs Act) Those Held Guilty Only Under Arms Act For Possessing Illegal Weapons: 4

 

Business

 

Bajaj Auto to be demerged

The six-decade-old Bajaj Auto will be split into three entities. The manufacturing business of Bajaj Auto will vest under a new company—Bajaj Holdings & Investment (BHIL). The finance and insurance business will form the second unit—Bajaj Finserve (BFL). And Bajaj Auto will become the primary investment arm focusing on new business opportunities.

 

Citigroup’s BPO arm on the block

Citigroup is putting its captive business process outsourcing (BPO) arm on the block. The bank is said to have appointed a merchant banker in the US for the proposed sale. The captive arm, which last year was renamed as Citigroup Global Services (CGS), was earlier listed on the Indian bourses as e-Serve International.

 

The Economic Times

Front Page

 

Bajaj demerger takes off, co. splits into three

It’s finally happened: Bajaj Auto’s auto and financial services business are to be spun off into new entities, so that investors can benefit from the strong growth in the two sectors. This brings the curtains down on the first part of Bajaj Auto’s demerger saga. But before Rahul Bajaj’s sons Rajiv and Sanjiv can call these companies ‘Hamara Bajaj’, the when and how of the separation of the four senior Bajajs still has to be settled.

 

Govt okay with voluntary SEZ land sale

This will come as a breather to special economic zone (SEZ) developers. The government has decided to allow states to acquire land for SEZ projects on behalf of private developers as long as owners sell their land voluntarily.

 

Khaleej Times

Front Page

 

Military officers from 21 countries battle on stage

Nearly 100 contestants from 21 countries participated in the 11-day Fourth Prince Sultan International Holy Quran Memorisation Competition for Military Officers.

 

Oman keen to empower every citizen with ICT skills

Oman will unveil several new public and private sector initiatives to build ICT (information and communication technology) skills within the society at a high-profile ceremony here tomorrow, presided over by Secretary-General of the Ministry of National Economy Mohammed bin Nasser Al Khusaibi, coinciding with ‘World Information Society’ (WIS) Day.

 

Business

 

Wolfowitz seeks deal for World Bank exit

Embattled World Bank president Paul Wolfowitz sought a resignation deal ahead of a new bank meeting yesterday to discuss the scandal over his girlfriend’s pay package.

 

UAE will lead regional GDP growth of 6%

Led by a growth of more than eight per cent by the UAE in 2007, the Gulf Cooperation Council (GCC) economies will continue to be at the forefront of global growth, a leading economist has predicted

 

Times of Oman

Front page

 

Ban on Saudi poultry lifted

Sheikh Salim bin Hilal Al Khalili, minister of agriculture and fisheries, yesterday issued a decision lifting the ban on imports of live domestic birds, their products, derivatives and wastes from Saudi Arabia. The decision came at the recommendations of the veterinary authorities concerned.

 

Bahraini minister gets Rowas message

Mansour bin Hassan bin Rajab, minister of municipalities affairs and agriculture in Bahrain, has received a written message from Sheikh Abdullah bin Salim Al Rowas, minister of regional municipalities, environment and water resources, dealing with bilateral relations between the two countries.

 

Business

 

US, UAE deepen business ties

The United States and the United Arab Emirates launched a new bilateral business coalition Wednesday as US firms seek openings in the desert country which has fast become America's biggest trade partner in the Middle East.

 

WEF to promote Mideast economic diversification

Arab and world leaders are headed for a World Economic Forum on the Middle East hosted by Jordan to discuss ways to advance economic diversification and peace in the troubled region.

 

Arab Times

Front Page

 

Parliament lacks focus on essential issues – Baghli; Politics impede vital Kuwait reform plans

Despite a cabinet change and vows of a fresh start, a lingering standoff between Kuwait’s parliament and government is fuelling concern that overdue reforms will not see the light of day in the country soon. Analysts say Kuwait’s parliament, which has a history of challenging the government in a region dominated by undemocratic rulers, should focus on key bills such as a tax law crucial to attracting investors to the major Opec oil exporter. Instead, it has been caught in a dispute with ministers that led in March to the resignation of the government and the appointment of a new lineup.

 

Citizens, residents advised to be vigilant as gang of thieves held; Egyptian nabbed for dismantling, selling stolen cars as scrap

Rawda securitymen have arrested a gang of five men a; Kuwaiti, one GCC national and three Bedouins (Nomadic Arabs), wanted by law for their involvement in several robbery cases. Securitymen intensified their efforts to track down the thieves after noticing a remarkable increase in the number of thefts in Yarmouk, Surra and Qortuba. Patrolmen on routine duty apprehended one of the gang members while he was breaking the window of a vehicle in an attempt to steal its contents. The suspect then guided police to his accomplices and raided their apartment where they found various stolen items including gold, computers and cash.

 

Business

 

Iraq urges Iran firms to bid for oil refinery work; Baghdad, Tehran to activate oil pipeline deal

Iraq has invited Iranian firms to bid for contracts to build at least four oil refineries across the country, Iraq’s oil ministry said on Wednesday in a sign of growing ties with the United States’ regional foe. “Today, the Iranian firms have been invited to bid in building refineries which the ministry has already announced it was planning to build,” spokesman Asim Jihad told Reuters.

 

Former WB chief guest of honor at NBK’s Gulf bankers’ confab; Wolfensohn to address banking meet

Former World Bank President and Chairman of “Wolfensohn Capital Corp., James Wolfensohn will be addressing an audience comprising the Governors of the Central Banks of the Gulf countries and a host of prominent financial experts and delegates representing major regional and international banks and financial institutions at a special dinner banquet to be organized by NBK on 22  May at the Sheraton Hotel, Kuwait, in honour of the GCC Central Banks Governors attending the 8th GCC Banking.

 

Dawn

Front Page

 

OIC wants foreign troops out of Iraq

Foreign ministers of 57 Muslim countries have called for “earliest possible” withdrawal of foreign troops from Iraq and stressed the need for early restoration of peace and stability in the country.

 

Inflation target unlikely to be met

The inflation target of 6.5% set for the current year is unlikely to be achieved owing mainly to a considerable rise in prices of food items, the government conceded for the first time here on Thursday.

 

Business

 

Sindh plans to provide 60,000 CNG rickshaws: NBP Rozgar scheme

The Sindh government is entering into an arrangement with the National Bank of Pakistan for providing 60,000 four-stroke gas-driven rickshaws to the needy and deserving persons in the.

 

Textile, sugar sectors’ share in taxes negligible

Sugar and textile sectors’ contribution in taxes is fairly negligible though these sectors have a relatively larger share in manufacturing sector, says a study

 

Business Recorder

Front Page

 

US democracy group warns on 'tainted' elections in Pakistan

Tainted elections in Pakistan could strengthen the hand of militants, a US group that promotes democracy said on Thursday. The independent National Democratic Institute, referring to the country's president and army chief Pervez Musharraf, also said holding the positions of president and army chief at the same time was not acceptable in a democracy.

 

Israel strikes Hamas targets in Gaza

Israel bombed Hamas targets in Gaza on early Friday as security forces loyal to Fatah accused the Islamist group of plotting to assassinate Palestinian President Mahmud Abbas.

 

Business

 

President for cut in inflation rate

President General, Pervez Musharraf, on Thursday directed the government to take strict measures in 2007-08, budget to bring down inflation rate, besides creating more jobs to address the issues of poverty and unemployment.

 

Inflation may stay 77.5% in this fiscal year: Ashfaque

Pakistan will not be able to bring down inflation to 6.5% target for the current fiscal year. It is expected to remain between 7 and 7.5 % in 2006-07 against 7.9% during the last fiscal year, said Dr Ashfaque Hasan Khan, adviser to the finance ministry.

By: Staff Reporter
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