In Monday's South Asia/Middle East papers

16 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


Forget borders; let’s make LoC a line of peace: PM

Ruling out redrawing of borders in Jammu & Kashmir, Prime Minister Manmohan Singh said on Sunday that the Line of Control (LoC) could become a “line of peace’’ with a free flow of ideas, goods, services and people. The borders cannot be changed (but) they can be made irrelevant and the LoC can become the ‘line of peace’ the PM said.


Two suicide bombers target Pak forces, kill 41

At least 41 people were killed in northwest Pakistan on Sunday in a surge of militant violence which officials said could be aimed at avenging the commando assault on the Lal Masjid in the capital last week.




American ‘Sicko’ can reach out to India

Michael Moore’s latest film Sicko is a scalding indictment of the American healthcare system, which has been exploited by rapacious medical insurance companies and Big-Pharma. You can’t help feeling sick after watching the movie. Moore’s account shows that the world’s most advanced country is letting its corporations suck the life of its citizens.


GSM industry split over 3G spectrums

The 3G spectrum controversy is taking a dramatic turn with former GSM allies Bharti, Essar Vodafone (earlier Hutch) and Idea now taking different positions. This division is among India’s largest mobile operators, who together control over 50% of India’s subscriber base and is expected to have a telling impact on the spectrum policy, which primarily seeks to address how best to allocate this scarce resource.


The Economic Times


Front Page


Mallya may go for 51% of Air Deccan

The United Breweries group (UB) could strengthen its position in Air Deccan by raising its stake in the low-cost carrier to 51% in the next few months, making the price-warrior a subsidiary of the group. The Bangalore-based liquor conglomerate, which runs Kingfisher Airlines, bought a 26% stake in Air Deccan in early June and is on schedule to make an open offer for 20% more next week.


Bajaj sets sights on Ducati, Triumph

Two-wheeler major Bajaj Auto is looking for a big-ticket European acquisition in the motorcycle market. Industry sources said cult bike companies Ducati of Italy and Triumph of the UK are among its possible targets. Bajaj Auto Managing Director (MD) Rajiv Bajaj refused to comment on any possible deal.


Khaleej Times


Front Page


Canadian loses appeal in drug offence case

The Dubai Court of Appeal in a concurring judgement sentenced Canadian national, Bert Tatham, yesterday to four years in jail followed by deportation on charges of possession and consumption of hashish. Thirty-five-year-old Tatham was an international adviser with the Poppy Elimination Programme in Kandahar in Afghanistan until recently.


Temporary job permits from September

From September 2007 onwards, the Ministry of Labour (MoL) will start issuing ‘temporary job permits’ to enable companies to hire workers for a short period of time. The temporary job permits, the duration of which has not been specified yet, will curb the tendency of some companies to hire workers on visit visas.




IDB unit sets $225m capitalisation target

The board of directors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IDB), last week decided to increase the organisation's current capitalisation by 50% from about $150m (€108m) to $225m, the ICIEC's general manager, Abdel Rahman Taha, said yesterday in Dubai.


USA lures 55% of $542bn GCC surplus

The Gulf Cooperation Council (GCC) has invested more than 55% of its current account surplus of $542bn (€390m) accumulated through 2002-2006 in the United States, while Europe attracted 18%or $100bn of the oil-rich region's surplus fund, a report by Institute of International Finance (IIF) said.


Arab Times


Front Page


Minister warns of huge losses; ‘Don’t delay KAC privatization’

Minister of State for Housing Affairs, acting Minister of Communications and acting Minister of State for National Assembly Affairs, Abdulwahed al-Awadhi, has warned against delaying the privatization of Kuwait Airways Corporation (KAC) and said “any further delay will result in losses to the tune of millions of dinars,” reports Al-Anba daily.


Islamic teacher, railroad employee gunned down in Thailand's restive south 

An Islamic teacher who helped Thai authorities was shot dead and his wife seriously wounded Sunday in Thailand's restive south in a brazen attack at a busy market, police said.




Oil industry needs new, progressive management; Oil reserves: real, hard data 

Kuwait has come out with the actual figures for crude oil reserves in plain language but with real hard numbers to finally close the door on this disputed issue. It is now time for the international oil publication and in particular the Petroleum Intelligence Weekly (PIW) to shelve its report and make a clear statement on Kuwait’s oil reserves.


Saudi shares close higher for 3rd trading day; MTC shares fall

Mobile Telecommunications Co (MTC) said on Saturday its second-quarter net profit fell 1%, a smaller decline than previously reported, after restating earnings for the comparative quarter last year. Shares of the second-largest Gulf Arab telecom firm by market value are down by the maximum allowed after the firm reported its first decline in quarterly profit in more than two years on Friday, missing analyst forecasts.




(No updates)


Business Recorder


Front Page


Settlement reached in LA clergy abuse case: lawyer

The Roman Catholic Church in Los Angeles has reached a damages settlement with victims of sex abuse by priests, a lawyer has confirmed, in what could be the largest deal of its kind in US history.


US backed Musharraf after tribal leaders scraped peace pact

The US administration on Sunday lent its 'full support' to President Pervez Musharraf after pro-Taliban militants scrapped a controversial peace accord with the government.




Corporate entities to provide details of accounts and practices: proposed competition

The proposed 'Competition Commission' would be empowered to seek detailed information pertaining to accounts, management and business and trade practices, etc, from corporate entities for carrying out investigation.


BoI for setting up of FIC to boost investment: proposal sent to Prime Minister

The Board of Investment (BoI) has proposed the setting up of Foreign Investors Council (FIC) with a view to make Pakistan the most lucrative destination for investment, and enhance the country's competitiveness in the global markets, official sources told Business Recorder.

By: Staff Reporter
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