In Monday's South Asia papers

18 August 2008 05:30  [Source: ICIS news]

THE TIMES OF INDIA

Front page

Hurriyat leaders to march to UN office; curfew in Srinagar
A precautionary curfew has been imposed in Jammu and Kashmir's capital as Hurriyat leaders go to the UN office in Srinagar to submit a memorandum on Monday.

Jaipur blasts probe: Medical student detained
Rajasthan police late Sunday detained a medical student in connection to the Jaipur serial blasts that killed 65 people on May 13.

Business

FIIs cut India exposure
Foreign Institutional Investors (FIIs), the most influential investor group in India, continuing to pare their holdings in Indian stocks.

China raises duty on coke, to hit Indian steel
The Indian steel industry has been severely hit as the Chinese government on Sunday raised the duty for metrological coke to 40%.

THE ECONOMIC TIMES

Front page

Stocks open flat amid mixed global cues
National Stock Exchange’s benchmark Nifty on Monday opened at 4421.20, down 10 points.

It's advantage cops, defence forces after pay revision
Government employees will see their salaries, including allowances, increase in the range of 25% to 50% following the adoption of the revised sixth pay commission (SPC). In some instances, the hike may well work out to over 75%.

THE BANGLADESH TODAY

Front page

Hasina demands lifting emergency, parliamentary polls first
Awami League president Sheikh Hasina, now in Washington, demanded that the caretaker regime lift the state of emergency and hold parliamentary elections first to transfer power to people's representatives.

Begum Zia is not being released due to unknown reason: MK Anwar
BNP Vice-Chairman MK Anwar on Sunday said that Chairperson Begum Khaleda Zia is not being released due to an unknown reason.

Business

Pakistan to pip India in list of world's top rice exporters
For the first time in several years Pakistan is expected to pip India in the list of rice exporting countries because of export curb imposed here.

US housing market recovery not until 2009
As the US economy appears more than ever linked to the health of the housing market, analysts see no end to falling prices or recovery in the sector before 2009.

DAILY MIRROR

Front page

Military tells LTTE to surrender
The military yesterday called on the LTTE cadres to surrender giving up their arms and said action would be taken to rehabilitate them.

Don’t let children be used as political pawns
President Mahinda Rajapaksa told the parents of university students not to allow their children to become tools of various political forces.

Business

CB contained due to local inflationary pressure - SCB
A senior banker stated that, with Central banks in other countries leveling on a slightly more relaxed view on their monetary policy however, it is unlikely to happen in Sri Lanka due to local conditions.

People’s Leasing obtains BBB- rating from Brand Finance
People’s Leasing has obtained a BBB- rating from Brand Finance, becoming the only leasing company in Sri Lanka to certify its brand this year and the highest rated among all companies within the leasing industry.

DAWN

Front page

Coalition giving time to president
The ruling coalition appears to be dallying with the impeachment process to provide time to President Pervez Musharraf to make up his mind about resigning, instead of facing a humiliating exit.

Asylum for Musharraf not on the table: Rice
The United States made it known on Sunday that it was not considering any proposal to grant political asylum to President Pervez Musharraf.

Business

Stock market woes, uncertainties
Why has the value of the Pakistani stock market dropped precipitously over the last several months? Why has so much capital flown out of the market and why has some of it gone out of the country? There is flight of capital emanating not only from foreign investors.

Managing the forex reserves
The rupee remains under pressure although the State Bank now provides foreign exchange for Pakistan’s oil imports. Bankers give many explanations for the rupee’s weakening, the oddest being the drying up of foreign investment inflows.

BUSINESS RECORDER

Front page

President Musharraf to address nation at 1:00 pm today
President Pervez Musharraf is to address the nation later on Monday afternoon, his spokesman told AFP, while dismissing rumours that he had resigned. ‘The president will address the nation at 1:00pm (0700 GMT),’ Major General Rashid Qureshi (retd) said.

Pakistan does not need fiscal year 2008/09 loan: IMF official
Pakistan does not need to turn to the International Monetary Fund (IMF) for money in the next 10 months if the government cuts spending and gets other sources of funding to offset falling reserves, a senior IMF official said. Mohsin Khan, IMF's director for the Middle East and Central Asia, said Pakistan had not asked the IMF for loans.

Business

'Micro Finance' scheme for uplift of cottage industries soon
The setting up of mini industrial estates in remote rural areas is on the card aiming at promoting non-traditional products being produced in these areas and generates employment opportunities for skilled and semi-skilled persons on their doorsteps in the Punjab.

President MCCI criticises governor SBP
Multan Chamber of Commerce and Industry (MCCI) President Khawaja Muhammad Jalaluddin Roomi has criticised the government and Governor State Bank of Pakistan for not adopting effective measures to check Rupee slide against the greenback. The SBP's strict exchange policy measures have failed to stop the fall of rupee against dollar.

By: Staff Reporter
+44 20 8652 3214

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