24 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 Monday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:
Karunanidhi ready to consider realignment of Sethu project
Embattled Tamil Nadu chief minister M Karunanidhi said on Sunday he was open to considering realignment of the Sethusamudram project, and that his government’s only priority was its implementation. "It’s for engineers to decide on any realignment," he told newspersons here on Sunday.
N-submarines will make India’s deterrence credible
Only nuclear-powered submarines armed with nuclear-tipped missiles can provide real muscle to India’s strategic deterrence posture, which revolves around the no-first use (NFU) policy
Now Indian, Swiss cos fight it out in UK court
In a reflection of the colonial legacy, the UK High Court has restrained an Indian company - Corporate Ispat Alloys Ltd - from continuing its suit before a Delhi court against a Swiss firm and warned that violation of its order could amount to contempt and lead to fine, arrest and seizure of its assets.
Uncertain times at IT counters
After spending most of the month swimming in negative territory, Friday finally saw a number of Indian IT majors hitting the rock bottom. Sector majors TCS and Wipro both hit their 52-week lows as the rupee surged higher against the dollar.
FII inflows may keep market in positive zone
Equities are expected to sustain their positive momentum as investors are betting on foreign funds to loosen their purse strings as a result of the US Federal Reserve’s decision last week to cut the interest rate. Though there is a feeling that prices of most frontline stocks have run ahead of fundamentals for the time being, many analysts and fund managers believe that the rush of money flow can drive prices to even higher levels.
Punters bat for India: Indian rupees (Rs)15bn ($377.8m) at stake
It can’t get any bigger than this. The Twenty20 World Cup final on Monday between India and Pakistan is being billed as one of the biggest finals in recent times.
Pakistan police round up Musharraf opponents
A Pakistani opposition leader on Sunday accused President Pervez Musharraf of trying to crush dissent after police held dozens of people who vowed to protest against the military ruler’s re-election.
Iranian president set for chilly reception in NY
Iranian President Mahmoud Ahmadinejad is set to arrive in New York on Sunday amid a storm of controversy and facing angry protests over his appearances at the United Nations and a top university.
UAE will cut oil output by 600,000bbl/day in November
The United Arab Emirates will cut oil output by around 600,000bbl/day in November due to maintenance work at three oilfields, the state-run Abu Dhabi National Oil Company said yesterday.
DFM and Emaar pace Dubai bourse
With DFM and Emaar Properties as volume pushers, Dubai's main index yesterday made a snail-pace climb of 0.02% to close at 4,221.10 points while shares in Abu Dhabi dropped 0.01% to 3,458.84.
Taliban behead two former Afghan policemen
Police in Afghanistan said they found Sunday the bodies of two retired policemen beheaded by Islamic Taliban rebels who had accused them of spying for the US-led military.
Bush to ask $195bn to fund Iraq, Afgan wars
The White House will ask Congress next week to approve another massive spending measure for the wars in Iraq and Afghanistan totaling nearly $200bn (€141.3), The Los Angeles Times reported on its website late Saturday.
Speculators cashing-in on jittery markets; Weak US dollar cause of steep rise in crude prices
Many questions are being asked these days but the most recurrent question is about the direction of oil prices and whether they will break the $90 (€63.83) and $100 mark before the end of this year.
Kuwait export oil price breaks record, surges above $74pb; Opec sees surge in oil offsetting weak dollar
The price of Kuwaiti crude oil concluded the week with a new record high after it exceeded $74 on Friday to reach $74.37/bbl (€54.12), said Kuwait Petroleum Corporation (KPC) on Saturday.
Move to thwart APDM show: Activists barred from entering capital
A crackdown on opposition leaders and activists belonging to parties in the All Pakistan Democratic Movement (APDM) alliance continued across the country for the second day on Sunday with the government having decided to use all means to stop them from staging a demonstration outside the Supreme Court on Monday, sources told Dawn.
Fazl advocates middle path; meets Nawaz
Leader of Opposition in the National Assembly Maulana Fazlur Rehman says he will present his point of view at the APDM meeting in Peshawar on Tuesday so that appropriate decisions are taken keeping in view the ground realities. He said he was confident a consensus decision would be taken at the meeting.
Elusive chase for price stability
About 160 million consumers suffered silently from soaring wheat prices over the last six months—March to September 2007—with flour peaking at Rs22/kg ($0.36) in Karachi and in many parts of the country last week.
Mysterious wheat surplus
One day the dream economic team had to face the consequences of its own actions. The current wheat crisis is a case of “as you sow, so shall you reap.”
Re-election of President to ensure continuity of policies: PM
Prime Minister Shaukat Aziz on Saturday said the re-election of the President would ensure continuity and consistency of leadership and policies essential for future progress and prosperity of Pakistan.
Chichoki Mallian power plant: Wapda hesitant to accept Qatar proposal
The Water and Power Development Authority (Wapda) is still hesitant to accept the proposal of Qatar Investment Authority (QIA) for setting up 500 mw thermal power plant at Chichoki Mallian, despite the fact that Prime Minister Secretariat is strictly monitoring the progress, sources told Business Recorder.
New building codes lack required mechanisms
The recently furnished codes for buildings to resist earthquakes will remain short of yielding desired results unless the required highly qualified workforce is not inducted in the local bodies at Tehsil level.
World Bank set to finance third PPAF programme
The World Bank has been looking positively towards funding the third programme of Pakistan Poverty Alleviation Fund to help reduce poverty and ensure a positive impact on the lives of the poor and their families.
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