In Friday's South Asia/Middle East papers

13 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 Friday. To go to the individual websites, click the links below:

 

The Times of India

Front Page

 

ED posers to Nigerian envoy may spark row

The Nigerian high commission, which attracted adverse attention in May when its former defence attache GA Ojedokun was caught at the airport trying to spirit away $2.27m (€1.63m) in cash, has come under the scanner of investigative agencies once again.

 

Oust General, Qaida urges Pakistanis

Al-Qaida on Thursday urged Pakistanis to revolt against General Pervez Musharraf over the storming of Lal Masjid as officials examined the bodies of militants killed in the raid.

 

Business

 

Air ticketing: Refund blues after cancellation

Be sure of your travel plans before booking an air ticket, especially if you intend to use your credit card for the transaction. A Pune consumer, who cancelled his air ticket in March, is still waiting for his refund amount to roll back into his credit card. Another Mumbai consumer got the amount reversed two months after cancellation.

 

Retirement age for profit-making PSUs raised

The cabinet on Thursday approved a decision to empower ministers in charge of various profit-making public sector units to raise the retirement age of its employees from 58 to 60 years benefiting lakhs of employees.

 

The Economic Times

Front Page

 

Renault, Bajaj may team up

Nissan Renault boss Carlos Ghosn’s pet $3,000 (€2160) car project could trigger off a new partnership for Renault in India with Bajaj Auto (BAL). Bajaj Auto MD Rajiv Bajaj is expected to meet top Renault officials in Paris soon to discuss a possible tie-up.

 

Niraj Bajaj to take Mukand reins

Bajaj group patriarch Rahul Bajaj said Thursday he will step down as chairman of group company Mukand and appoint current managing director Niraj Bajaj as chairman amidst mounting speculation about the Bajajs taking full control of the special steel company. Rajesh Shah, also the current managing director, will be appointed co-chairman.

 

Khaleej Times

Front Page

 

Working woman entitled for HRA even if husband gets it

A working woman is entitled to housing allowance even if her husband is receiving the same from his company, according to a new fatwa issued by the Department for Fatwa and Legislations at the Ministry of Justice.

 

Traffic violations spiral in Sharjah

Traffic violations are reaching pandemic proportions in Sharjah with police officials claiming to have imposed fines in 506,346 cases (97,740 on the spot and 408,606 in absentia). They also impounded 2,012 vehicles in the last six months for various violations.

 

Business

 

Terms set to create GCC banking giant

The Boards of Directors of Emirates Bank International PJSC (EBI) and the National Bank of Dubai PJSC (NBD) yesterday announced the terms of a proposed banking merger to create what is billed as GCC's largest bank by assets.

 

Analysts see merger as trendsetter

Banking analysts in the UAE, welcoming the landmark merger move between Emirates Bank International and National Bank of Dubai, said it would be trendsetter as they expect more banks to follow suit.

 

Arab Times

Front Page

 

‘Give every bedoun an ID’; UNHCR to report on ‘stateless’ persons

Representative of the UN refugee agency (UNHCR) Maureen Laing said Tuesday the organisation will collaborate with legal advisors to write an analytical synopsis about stateless persons or bedoun in Kuwait that will be submitted to Kuwaiti authorities and the UN.

 

MPs  halt‘Black gold’100bn barrels; Nod to budget 

Kuwait’s acting oil minister said on Wednesday that the country’s oil reserves stood at around 100bn/barrels, dismissing reports that reserves were only half what the OPEC member had stated. “I can confirm that the reserves are 100bn/barrels,” acting Oil Minister Mohammad al-Olaim told reporters after discussing reserves in a closed-door session with MPs.

 

Business

 

Consortium seeks 60% of Turkish lender

Commercial Bank of Kuwait and Noor Financial Investment Company have made a joint bid for a majority stake in Islamic bank Turkiye Finans, a source familiar with the situation said on Tuesday.

 

Expert urges KSE to activate options market; ‘Derivatives need extra attention’ 

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. They said that official trading did not reflect the reality of the Kuwaiti capital market.

 

Dawn

Front Page

 

Charred remains speak of fierce battles

Bullet-pocked rooms and blood-stained walls served as grim reminders of ferocious gunbattles when the government opened on Thursday the Lal Masjid-Jamia Hafsa complex to journalists for the first time since the operation there.

 

Musharraf says operation was inevitable

President General Pervez Musharraf on Thursday defended the Lal Masjid operation and declared that no mosque or seminary would be allowed to be misused like Jamia Hafsa.

 

Business

 

Trade gap jumps to $14bn (€10.08bn) in 2006-07

Official international trade statistics for the month of June 2007 and for entire fiscal 2006-07 have been delayed because of the location of Pakistan Revenue Automated Limited (PRAL) in the vicinity of Lal Masjid and curfew area.

 

US moves WTO against China on subsidies

The US on Thursday requested a formal WTO hearing on Chinese industrial subsidies that US officials said violated global trading rules.

 

Business Recorder

Front Page

 

Musharraf vows to crush extremism

President Pervez Musharraf vowed on Thursday to wipe out extremism from Pakistan, saying in a defiant address to the nation that the raid on Islamabad's Red Mosque was necessary to save the country.

 

Dow, S&P end at records on retail sales, Alcoa talk

US stocks surged on Thursday, with the Dow hitting a record on its biggest point gain since 2002, after healthy retail sales reassured investors about consumer spending and a $38bn (€27.3bn) mining take-over fed expectations for more deals.

 

Business

 

Punjab to offer incentives to South Korean investors

Punjab Chief Minister, Chaudhry Pervaiz Elahi, has said that in addition to Lahore, Multan and Faisalabad, provincial government has establishing three industrial estates on Sialkot-Lahore Motorway where special incentives will be offered to South Korean investors.

 

Chinese trade team due on 18 July

A high-level Chinese trade delegation headed by the Vice Minister Commerce Gao Hucheng will be visiting Pakistan on 18 and 19 July. The delegation would comprise 10 high-level officials from various Ministries and 35 members of various large business groups of China like Sino Chem Corporation, China Tax Group, Sino Steel Corporation, China Meheco Corporation, China Minmetrals Corporation etc.


By: Staff Reporter
+44 20 8652 3214



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