In Wednesday's South Asia papers

07 May 2008 04:30  [Source: ICIS news]

China-specific Agni-III to be tested today
In a move to somewhat bridge the stark strategic imbalance with China in terms of nuclear and missile arsenals, India is all set to test its most ambitious missile Agni-III on Wednesday.

Obama wins N Carolina, CBS says Clinton takes Indiana
Barack Obama won North Carolina's presidential nominating contest and Hillary Clinton took Indiana on Tuesday, a split decision that prolonged the rival Democrats' White House race.

Yahoo needs to convince investors
Yahoo chief executive Jerry Yang is convinced that the company he started in a Silicon Valley trailer 14 years ago is worth more than the $47.5bn that Microsoft had offered for the Internet pioneer.

TRAI seeks views on MVNOs
The country is gearing up for the entry of Mobile Virtual Network Operator (MVNO) services with telecom regulator TRAI releasing a consultation paper on Monday. This is in response to DoT's letter of March 20, seeking TRAI's suggestionson the need and timing for introduction of MVNOs as well as terms and conditions of the licence to be granted to such operators.

Lack of clarity may hit realty funds' take-off
A week after SEBI announced guidelines for real estate mutual funds, officials at fund houses and real estate developers are awaiting clarity on certain issues before they go ahead with scheme launches.

Relax! Loan recovery agents can't bully you anymore
In the light of a flurry of complaints from borrowers regarding intimidating tactics of recovery agents hired by banks, the Reserve Bank of India (RBI) has recently issued certain guidelines for banks. The norms are expected to bring relief to borrowers facing harassment from recovery agents.

Preparation for formal dialogue at final stage
Preparation and modalities for the formal dialogue between the government and the political parties is at final stage.

Mysterious wall-writings in the city's Baitul Mukarram mosque area
Wall-writings in the name of the Hindu religion in the Baitul Mukarram National mosque areas have caused a sensation in the city. According to the eyewitnesses, they first saw the wall-writings on the walls near by the Baitul Mukarram mosque in the early morning on Tuesday when they went to the mosque to perform their Fazr prayers.

BD maintains trade with Europe despite uncertainties
European Commission (EC) in Dhaka expressed its satisfaction saying in spite of uncertainties export of Bangladesh products to Europe in 2007 sustained the five billion euro mark, achieved the year before.

China's inflation easing second quarter
China's inflation, which has been lingering near 12-year highs, is expected to ease in the second quarter but would remain high at 7.5 per cent, a government think tank was quoted as saying on Tuesday.

Parliament prorogued
President Mahinda Rajapaksa ended weeks of speculation by proroguing Parliament with effect from midnight yesterday. The new sessions will commence on June 5, 2008, informed sources said.

Myanmar says cyclone death toll tops 22,000
More than 22,000 people were killed in Myanmar's devastating cyclone and 41,000 are still missing four days after the storm slammed into the country's southern coast, the government said Tuesday.

Sirisena Cooray gets new appointment at Ministry of Tourism
The Minister of Tourism in consultation with the President has decided to appoint B Sirisena Cooray to handle an important project of great cultural significance in the Ministry of Tourism.

Vodafone to distribute iPhones in 10 new countries
British mobile phone giant Vodafone announced Tuesday that it will distribute Apple's wildly popular iPhone in 10 new countries including Australia, India and South Africa.

Pressure mounts on EC to reverse decision
The Election Commission is likely to reverse its decision to postpone the by-elections after severe criticism from all major political parties and civil society organisations.

Go-ahead for immediate import of 250,000 tons of wheat
The Economic Coordination Committee (ECC) of the cabinet has approved a proposal to import 1.5m tonne of wheat but kept in place a ban on its inter-provincial movement to discourage smuggling and hoarding.

Government building up wheat reserves: Harvest in full swing
The government is building up reserves of 7m tonne of wheat and has decided to import 250,000 tons at a time when harvest is in full swing in the Punjab and approaching last phases in Sindh.

OGDCL bond issue put on hold
Pakistan has put on hold plans to issue an exchangeable bond with an option for shares in Oil and Gas Development, the country’s largest-listed firm, a senior finance ministry official said on Tuesday.

BUSINESS RECORDER

Front Page

Oil prices hit record high $122.73
Oil prices spiked to new highs on Tuesday in the latest frenzied trade driven by concerns over violence in key producer Nigeria and the weak US currency.

SHC adjourns Zardari plea under NRO till 15 May
An appellate bench of High Court of Sindh (SHC) comprising Justice Qaiser Iqbal and Justice Syed Mahmood Alam Rizvi on Tuesday adjourned the hearing of a petition filed by Co-chairman of PPP Asif Ali Zardari, till 15 May after State counsel sought time to obtain and submit the original order of a UK court.

Inflation causes poverty resurgence
The burden of high prices, especially of basic food items, has become intolerable for poor households while poverty is consequently on the rise again and whatever decline was achieved in poverty appears to have been wiped out.

Pakistan and Yemen sign MoUs, agreements
The 5th session of Pak-Yemen Joint Ministerial Commission (JMC) concluded here on Monday, with the signing of a number of MoUs and agreements for boosting the bilateral and economic relations between them.

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