In Friday's South Asia/Middle East papers

21 September 2007 05:30  [Source: ICIS news]

MUMBAI (ICIS news)--These were the top stories at 4:30 GMT in the following South Asia/ Middle-East newspapers’ online versions on Friday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:

The Times of India
Front Page

T20: India knock out South Africa, enter semis
India snatched a dramatic 37-run victory over hosts South Africa on Thursday to storm into the semi-finals of the Twenty20 world championships.

Buddha readies red carpet for two US firms
Ignoring the shindig by his comrades in New Delhi against PM Manmohan Singh cosying up to Washington under a nuclear blanket, West Bengal CM Buddhadeb Bhattacharjee is scouting for land for two US companies, holding firm to his line against blind anti-Americanism.

Business

Rupee strongest in decade against US dollar
Ten years ago, everytime Indians travelled abroad it was common practice to stash away some dollars for the next trip or for the children's overseas education. As the Indian rupee touched an all-time low of 49.06 against the dollar in May 2002, this strategy seemed to make sense.

Euro hits record high
The dollar fell to a record low against the euro on Thursday and reached parity with the Canadian currency for the first time in 31 years on expectations of more cuts in US interest rates after this week’s sharp reduction.

The Economic Times
Front Page

Dazed bulls take it easy after the big bash
Bulls trod cautiously on Thursday after the previous day’s big bang party. Benchmark indices hit new highs early in the session, but investors’ enthusiasm was tempered by an appreciating rupee. Sellers targeted IT services firms whose earnings are linked to the strength of the dollar, thus checking the gains in the main indices.

Airtel, Nokia draw up joint strategy
Bharti Airtel is all geared up to face the challenge posed by Vodafone. In the mass-market low-cost segment, in order to take on Vodafone, it is entering into an alliance with the world’s largest handset maker Nokia to offer bundled phones at partly subsidised rates.

Khaleej Times
Front Page

Pakistan sets election date amid bin Laden threat
Pakistani President Pervez Musharraf will seek re-election on 6 October, officials said on Thursday, as the embattled US ally faced a declaration of war from Al Qaeda chief Osama bin Laden.

Saudi Arabia joins UN atomic agency board
Saudi Arabia and other US allies were among 11 countries named to the UN watchdog International Atomic Energy Agency’s 35-nation board of governors on Thursday.

Business

Nasdaq, Borse Dubai agree on OMX/LSE, Qatar steps in
Nasdaq and Dubai’s stock exchange struck a deal on Thursday that shakes up ownership of some of the world’s top share markets and takes the Nasdaq brand into the Middle East and Asia.

Abu Dhabi to buy $1.35bn stake in Carlyle equity giant
Abu Dhabi’s investment vehicle Mubadala Development is to buy a 7.5% stake in the US-based Carlyle Group at a cost of $1.35bn, Mubadala announced on Thursday.

Arab Times
Front Page

Hyundai deal a welcome relief for S Korea labour
Hyundai Motor's amicable wage deal earlier this month has fuelled hopes in South Korea that its notoriously fractious labour relations could be at a turning point, suggesting happier days for companies and workers alike.

Philippine military chief warns of new coup plot
The military chief of the Philippines said on Thursday fresh attempts were being made to destabilise the government of President Gloria Macapagal Arroyo, but all such efforts would be scotched.

Business

Kuwait, UAE slash interest rates
Kuwait and the United Arab Emirates (UAE) cut interest rates on Wednesday, following a 50 basis point reduction in the US, raising the prospect that Gulf Arab economic growth and inflation may accelerate.

‘Sharia-complaint investments’; Islamic stocks excel
The great popularity of Islamic stocks, funds and portfolios among investors has resulted in a boom in the Islamic finance industry in Kuwait and the region, economic experts said.

Dawn
Front Page

Countdown begins, poll on 6 October
The Election Commission announced on Thursday the schedule for what has been termed the country’s most controversial presidential election, despite the fact that certain key issues relating to the election are at present being adjudicated by the Supreme Court.

Lawyers plan to besiege EC offices
Lawyers will lay siege to the offices of the Election Commission of Pakistan on 29 September the day of scrutiny of the nomination papers of President General Pervez Musharraf.

Business

Presidents poll to end uncertainty, say traders
Businessmen have expressed satisfaction over the announcement of schedule for presidential polls, saying it will end political unrest.

Pakistan dropped from FT global stock index
Pakistan would find it difficult to get strong response for its planned GDRs after the country was dropped out from developed status of the Financial Times Stock Exchange Indexes on Thursday, said experts.

Business Recorder
Front Page

EC assures fair, free and impartial elections: McKinnon
Commonwealth Secretary General John McKinnon on Thursday said Election Commission (EC) of Pakistan has assured that arrangements have been made to hold next general elections in a fair, free and transparent manner according to the wishes and aspirations of the people of Pakistan to revive true democracy.

Tariq Azeem urges opposition to adopt democratic approach
Following the announcement of Presidential election's schedule, Minister of State for Information and Broadcasting Senator Tariq Azeem on Thursday urged the opposition parties to adopt the democratic approach in the election.

Business

IMF stresses need for fiscal consolidation
The International Monetary Fund (IMF) has underscored the need for an appropriate policy mix between monetary and fiscal policies to bring down external current deficit. In a statement issued by IMF mission on conclusion of discussions with Pakistani authorities on recent economic, developments, prospects and policies, under Article IV consultation, stressed the need for further fiscal consolidation.

World Bank team briefed about establishing FIC
Secretary, Board of Investment (BoI) Mushtaq Malik, here on Thursday apprised a delegation of the World Bank regarding the proposal for the establishing "Foreign Investment Counsel" (FIC).


By: Staff Reporter
+44 20 8652 3214



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