In Thursday's South Asia/Middle East papers

12 July 2007 06:00  [Source: ICIS news]

MUMBAI (ICIS news)--These were the top stories at  05:00 GMT in the following South Asia/ Middle-East newspapers’ online versions on Monday. To go to the individual websites, click the links below

 

The Times of India

Front Page

 

51-yr-old UK granny weds Laden son

Britain might be in a tizzy over the terror plots hatched by Osama bin Laden, but that doesn’t seem to have come in the way of love. A 51-year-old British grandmother has married the Al Qaida chief ’s fourth son, Omar bin Laden, after the two fell in love while holidaying near the Pyramids in Egypt.

 

Disc yields syringe bomb data

Kafeel Ahmed had made a thorough study of how to make syringe bombs, which he used in the UK. The hard drive seized from Kafeel’s home in Bangalore contains details of syringe technology and bomb-making.

 

Business

 

Rupee rise: For first time, Infy unable to meet forecast

It wasn’t the best of beginnings for Kris Gopalakrishnan. But one could hardly blame Infosys Technologies’ new CEO. The rupee’s rise against major currencies, most notably the dollar, has been so relentless that the best of Indian export companies are struggling to cope with it.

 

Results, global cues drag sensex down 99 points

Even as software major and index heavyweight Infosys posted better than expected results for the first quarter, the BSE sensex on Tuesday lost 99 points as the company revised downward its earnings guidance for the year.

 

The Economic Times

Front Page

 

Rupee hurts Infosys

Managing the rupee was the running theme as the tech giant Infosys unveiled its first quarter results on Wednesday.

 

IPOs aren’t run machines

Here’s a sobering thought for those who believe in investing in IPOs. Listing gains --the return on the IPO scrip at the close of listing day over the allotment price -- have been falling substantially in the past two years. Average listing gains have fallen from 38% in 2005 to as low as 2% in the first half of 2007.

 

Khaleej Times

Front Page

 

Khalifa to visit Syria, Algeria and France

The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, will begin a three-nation tour of Syria, Algeria and France, on Sunday it was announced here yesterday.

 

Diversion at Baniyas interchange

From Friday, traffic at the Baniyas interchange in Dubai will be diverted in order to make way for construction works on Dubai Metro’s Green Line, the Roads and Transport Authority (RTA) announced yesterday.

 

Business

 

Etisalat net profit rises 33% in H1

Etisalat yesterday announced net profit of Dh3.73 bn ($1.01bn/0.74bn)during first half of 2007, reflecting a growth of 33 % over the same period last year.

 

DIC targets $25bn assets in 2 years

Dubai International Capital LLC (DIC), Dubai Holding's flagship buyout firm, which has made a string of global acquisitions, including stakes in Airbus parent company EADS, DaimlerChrysler and HSBC banking group, yesterday unveiled a restructuring programme targeted at creating more than $25 bn (18.18bn) of assets under management in two years.

 

Arab Times

Front Page

 

Small bomb explosion in Istanbul; 2 people hospitalized

A small bomb went off in the car park of a local government office in Istanbul early Wednesday, police said. Two people, including a police officer, were hospitalized.

 

German woman kidnapped in Iraq free, foreign minister says

A German woman who was kidnapped in Iraq earlier this year has been released, but her son is still being held hostage, German Foreign Minister Frank-Walter Steinmeier said Wednesday.

 

Business

 

Commercial Bank announces KD 60.9m net profit for H1 2007

Commercial Bank of Kuwait announced a record net profit for the six months to June 30, 2007 of KD 60.9m ($211.4m/€153.7m), an increase of 20% on the same period of 2006. Chairman & Managing Director Abdulmajeed AlShatti commented “Commercial Bank started 2007 very strongly and this has continued.”

 

Expert urges KSE to activate options market

Experts and officials of companies listed at the Kuwait Stock Exchange (KSE) have urged more attention to derivatives at the bourse such as parallels, derivatives, options and futures.

 

Dawn

Front Page

 

Mystery shrouds exact casualty figures

The government said on Wednesday that army commandos had wiped out all militant resistance in Islamabad’s Lal Masjid compound after an eight-day operation, but withheld from the media some vital information about the civilian casualty toll.

 

Grand alliance minus PPP

A mini-summit of the Multi-Party Conference held here on Wednesday launched a sort of a grand alliance, calling it the All Parties Democratic Movement, but minus the PPP.

 

Business

 

SBP shifts 20-30% POL import bill to banks

After three years the State Bank of Pakistan has decided to partially off-load the burden of import bills of petroleum products and passed it on to the private sector, which could cause an impact of $2.3bn (€1.67bn) for the current fiscal.

 

Divergent views on business activities

Traders of various markets offered conflicting views on buyers’ turnout and sales volume on Wednesday after the killing of Maulana Abdul Rasheed Ghazi in an army operation at Lal Masjid on Tuesday.

 

Business Recorder

Front Page

 

Musharraf, US face growing challenge from tribals: US intelligence

President Pervez Musharraf and the United States face growing challenges in Pakistan because of widespread tribal opposition to the US military presence in Afghanistan, a top US intelligence official said on Wednesday.

 

POL products: banks to buy foreign currency from interbank market

State Bank of Pakistan (SBP) has directed banks to purchase foreign currency from interbank for furnace oil and under form "M" POL import. The SBP, in a circular to the heads and principal offices of all authorised dealers in foreign exchange on Wednesday, said the directive would be effective from July 13.

 

Business

 

CPI increases to 7.77 percent in last fiscal year

The Consumer Price Index (CPI) has increased to 7.77% for the fiscal year ending 2006-07 over the same period of last year. The CPI based food inflation increased to 9.68% in June 2007 over the same period last year, Federal Bureau of Statistics (FBS) said on Wednesday.

 

Jetro to support Pakistani firms in FOODEX

Japan External Trade Organisation (Jetro) would support participation of reputed companies from Pakistan in FOODEX, scheduled to be held in Japan from March 11 to 14 next year, by almost 70 % reduction in participation fee.


By: Staff Reporter
+44 20 8652 3214



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