In Tuesday's South Asia papers

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

Death toll from China quake nears 10,000: Report
An earthquake devastated southwestern China, killing close to 10,000 people and trapping hundreds of others under schools, factories and houses while the worst-hit area was still cut off from rescuers on Tuesday.

Now, Bajaj set to roll out Rs 1 lakh car
Here's a competitor for Tata Motor's small car Nano. Renault-Nissan head Carlos Ghosn and Bajaj's Rajiv Bajaj unfolded their joint venture plan on Monday, announcing a low-cost car at $2,500 to be manufactured in India.

Bhel to build India's largest coal-based power plant
State-run Bharat Heavy Electricals on Monday said it would set up Integrated Coal Gasification Combined Cycle (IGCC) power plant at Vijaywada with Andhra Pradesh Power Generation Corporation (APGenco).

Mittal needs to cross regulatory hurdles
Bharti's Sunil Mittal is likely to stumble upon several critical regulatory minefields in his adventurous African safari to acquire MTN's telecom business across 21 countries. The bid, initially valued at $20bn for a 51% stake and still climbing, promises to more than test Mittal's proven negotiation and advocacy skills on home terrain.

Equities seen higher on positive global cues
Equities are likely to open higher on Tuesday tracking firm global markets. Cooling of crude oil prices is also expected to lift sentiment.

Tents to greet you at Delhi's modern airport
The next time you visit the Delhi airport, look for tent-like structures to locate your check in or immigration counters rather than the state-of-the-art terminal building that was promised.

CA addresses the nation
Chief Adviser Fakhruddin Ahmed on Monday in his televised address to the nation said the stalled ninth parliament election will be held in the third week of December this year.

Make programmes to free Khaleda a success: Delwar tells party workers
With the government-backed reformists' house of cards crumbling fast, fresh unity move by the reformists is not getting off the ground as Khaleda Zia-appointed Secretary General Khandoker Delwar Hossain asked Hannan Shah not to move on the unity agenda.

Go easy on biofuels until more clarity: World Bank
A senior World Bank official said on Thursday that countries should not greatly increase biofuels production until there is more clarity about how much they have contributed to the global food price crisis.

ICB launches 2nd NRB Mutual Fund on 15 May
The Investment Corporation of Bangladesh (ICB) has decided to launch the 2nd NRB Mutual Fund for expatriates Bangladeshis on 15 May to encourage them invest at home.

Police and Land powers for East PC
The government said yesterday, the new Eastern Provincial Council would be vested with wide powers, including those relating to the subjects of Police Powers and Land envisaged under the 13th Amendment as defined by the interim proposals of the APRC.

UNP-SLMC alliance blasts Polls Chief for "day light robbery"
The UNP-SLMC alliance which lost the battle for the Eastern Provincial Council vowed yesterday to take to the streets to protest against the electoral fraud committed by the government and the Pillaiyan group on the day of polling. The party also vowed to take it up with the international community.

Pramuka depositors see the light
Over 15,200 depositors of the defaulting Pramuka Savings and Development Bank (PSDB) are now seeing light after nearly six years as they have received letters from state owned, Sri Lanka Savings Bank (SLSB) to confirm their accounts.

Garment sector contributes $3.1bn to economy - GL
The Garments Sector contributes the most to the Sri Lankan economy by providing a sum of $3.1bn to its export income while the Sri Lankans employed abroad, the majority of whom are women, come second with a contribution of $1.7bn.

PML-N walks out after hitting brick wall
The Pakistan Muslim League-N has decided to pull out of the federal cabinet because of delay in the reinstatement of deposed judges, but said it will ?support the government on an issue-to-issue basis.

New finance minister to be appointed today: Asif
PPP co-chairman Asif Ali Zardari said on Monday night that the government has decided to appoint a new finance minister today in place of Ishaq Dar following a decision by the PML-N to quit the federal cabinet.

PML-N’s pullout jolts business confidence
The PML-N’s decision to pull out from the coalition government over the judges’ issue has jolted the businessmen’s confidence. They foresee a worst economic meltdown if the judges issue is not resolved on a permanent basis.

Inflation at all-time high of 17.21%
Inflation surged to an all-time high of 17.21% in April on the back of spiralling food and energy prices, but the coalition government is yet to initiate any measures to bring it down.

BUSINESS RECORDER

Front Page

Nawaz says PML-N to quit cabinet over judges issue
Former prime minister Nawaz Sharif said ministers from his party will resign from their posts on Tuesday over differences regarding the reinstatement of judges deposed by President Pervez Musharraf.

PPP to safeguard PML-N government in Punjab: Zardari
Pakistan Peoples Party Co-chairman Asif Ali Zardari said on Monday that his party would become the iron wall in Punjab against any element which would try to destabilize the PML-N government.

Many US investors soon to visit Karachi: Kamal
Investors from the US would visit Karachi in a few weeks to make investment in public-private-partnership in different sectors, like energy, information technology, Karachi Mass Transit System, desalination plants, etc.

CPI inflation increases by 10.2%
Pakistan faces worst food inflation with an increase of 25.5% in the prices of staple food and beverages during April over the same period last year, ringing alarm bells for the government and increasing miseries of the masses.

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