In Friday's South Asia papers

18 January 2008 04:30  [Source: ICIS news]

MUMBAI (ICIS news)--These were the top stories at 4:00GMT in the following South Asia 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

No funds to pay salaries, IITs tell Government
The Indian Institutes of Technology (IITs) are rated as the world’s third best in engineering education, but the directors of the seven elite institutions are currently trying to get the Union HRD ministry to pay their electricity bills on time!

After Gorshkov, Moscow-Delhi spat over submarine
India's defence ties with Russia continue to steadily nosedive. Amid the ongoing rancour over the huge delay and cost overrun in refit of aircraft carrier Admiral Gorshkov, a spat has now erupted between Moscow and New Delhi over the upgradation of an Indian submarine.

Business

BCCL picks up stake in Mindlogicx Infotech
Bennett, Coleman & Co (BCCL) has acquired a stake in Mindlogicx Infotech, a Bangalore-based new generation software product development and services company providing end-to-end solutions in KPO, virtual learning, online knowledge and skills assessment, business intelligence and IT consulting.

Steelmaker ArcelorMittal to shed jobs from French wire rod plant
ArcelorMittal SA, the world's largest steelmaker, will shed jobs from a loss-making plant in eastern France that makes wire rod.

THE ECONOMIC TIMES

Front Page

Bear sting begins to hurt the market
Money continued to drain out of large-cap stocks on Thursday, but secondline shares were in favour of the investors. Over the last one week, the BSE Midcap and Smallcap indices have shed around 1%, compared to a 3% fall in the Sensex.

GM, Toyota exploring ultracheap car
The world's two largest automakers are working on ultracheap cars to sell in emerging markets and possibly compete with the $2,500 subcompact unveiled last week by India's Tata Motors--but whether they can match the price remains in question.

THE BANGLADESH TODAY

Front Page

State of emergency to be relaxed gradually: Army Chief
Army Chief of Staff General Moeen U Ahmed on Thursday asserted that the state of emergency would gradually be relaxed, saying it is quite obvious that emergency will not be in place ahead of election.

Special Report: Khulna Industrial Belt
About three lakh family members of around 2200 workers, employees and officers of some seven jute mills in the Khulna industrial zone are passing an inhuman life due to irregular payments of their salaries and wages for the last six to seven month.

Business

Malaysia's economic growth likely to slow in 2008
Malaysia's economic growth is expected to slow to 5.4% this year from 6.1% in 2007, and could drop as low as 4% if the US is hit with a recession, forecasters said today.

Stocks end lower, Jamuna, Meghna in spotlight

Jamuna Oil and Meghna Petroleum grabbed investors' attention Thursday with the state-run enterprises topping the day's turnover board. Overall, however, Dhaka stocks closed downbeat following gains the previous day.

DAILY MIRROR

Front Page

Minority parties pushing for CC
As the dispute over the nominee to the Constitutional Council has been resolved, the JVP yesterday highlighted the need to reactivate it soon to thwart what it termed the government’s plan to appoint ‘political henchmen’ to certain top posts.

UPFA may lose majority in NWPC
A political drama is in the offing in the North Western Provincial Council, as the SLMC members of the council are likely to cross over to the Opposition shortly.

Business

Government to push for development sans aid
Sri Lanka should now not be dependent on aid, a top government official stated yesterday in the wake of several countries announcing that they would freeze it for development purposes.

CB: broad money still higher in 2008
The Central Bank yesterday affirmed that it will continue on its tight monetary policy although the broad money "still remains somewhat higher".

DAWN

Front Page

Teenage bomber wreaks havoc in Peshawar: 12 worshippers dead, 25 injured
At least 12 people were killed and 25 others injured, three of them critically, when a suicide bomber blew himself up in an imambargah here on Thursday.

Another Waziristan fort falls to militants
Over three dozen paramilitary soldiers are reported to have abandoned a fort in South Waziristan on Thursday before it was attacked by militants.

Business

Sales slump as blasts scare away customers
The overall sale of various items has fallen by 80% as scared buyers are avoiding visiting markets and shopping centres, following killing of over a dozen people in Landhi’s industrial zone, and another blast in Peshawar near an Imambargah on Thursday evening.

Remittances up 19.4%
Overseas Pakistanis remitted $3m during the first half (July-Dec) of 2007-2008, showing an increase of 19.4% over $2.5m sent back home the same period last year.

BUSINESS RECORDER

Front Page

10 killed in Peshawar suicide blast
A teenaged suicide bomber blew himself up in a gathering of mourners at Imam Bargah in congested Mohalla Jhangi at the back of historic Qissa Khwani killing ten mourners and injuring 25 others. Waqar Hussain, Mutawalli (Caretaker) of Imam Bargah, cop Alamdar and Syed Shiraz Hussain were among the dead.

UN chief alarmed by mounting violence in Gaza, Israel
UN chief Ban Ki-moon expressed alarm on Thursday over the mounting violence in the Palestinian territories and Israel and urged ‘maximum restraint’ by Israeli forces as well as an end to sniper and rocket fire into the Jewish state.

Business

Sound economy vital for continued pace of progress: Prime Minister
Prime Minister Mohammedmian Soomro on Thursday said a sound and healthy economy is essential for continued pace of progress and prosperity much needed to improve living standard of people. "The reforms process and policies introduced to improve economic conditions would continue during the interim period as their continuity ensures development," he said.

LCCI criticises new amendment in SRO 471(I)2007
The Lahore Chamber of Commerce and Industry (LCCI) has criticised a new amendment in SRO 471(I)2007 empowering the Intelligence and Investigation director general to access record, documents, power to summon people, searches under warrant, power of adjudication and reference to the High Court.

By: Staff Reporter
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