In Wednesday's South Asia papers

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


Front Page

India may run into New Zealand block at NSG
Just two days before the crucial Nuclear Suppliers Group (NSG) meet on the Indo-US nuclear deal, New Zealand sounded an alarm bell for India by stating that it has reservations about the contents of the NSG draft and that it is also contemplating certain conditions which could be weaved into the draft in the form of extra assurances.

AAI staff on strike; flights cancelled
Travellers at the Indira Gandhi International Airport in New Delhi on Wednesday had to bear the brunt of the airport authority employees' 12-hour strike, as all the flights to Kolkata were cancelled.


Interest rates may rise again
Interest rates may go up further as the inflationary pressure is refusing to cool down, despite all the measures taken by government and the Reserve Bank of India (RBI), feel market players. On Tuesday, global merchant banker Lehman Brothers said in a report that inflation is expected to rise more to touch 14% by October-November.

'Despite inflation, cost pressure, salaries witness 15% increase'
Rising inflation and higher input costs may be putting pressure on India Inc but this has not taken a toll on employee salaries. At least not yet. In fact, salaries went up by almost 14.8% this year. Indeed, this may be lower than last year's average of 15.1%, but the slowing down of the economy has not really affected salaries this year. This was revealed by a study conducted across 150 companies by Hewitt Associates.


Front Page

Cap on single holding in Stock Exchanges may treble to 15%
The Securities & Exchange Board of India (SEBI) is examining a proposal to raise the equity holding limit in stock exchanges from 5% to 15%. The revised cap would be applicable for single investors, both local and foreign.

Tips to be a stock market winner
The lure of big money has always thrown investors into the lap of stock markets. However, making money, particularly lots of money, in stocks is not a child’s play.


Front Page

Investigation into wealth statements of local body poll candidates starts soon
Investigation into the wealth statement submitted by different candidates who contested recently held city corporation and municipality elections is going to be started soon.

AL sends letter seeking meeting with CA
Awami League (AL) has urged the Emergency Government to fix up the date of elections through discussing with the political parties to avert any dire consequences. "If the incumbent government wants to take a one-sided decision regarding the polls-schedule to Jatiya Sangsad and Upazila Parshad, it would not obviously bring good for the country and its people," cautioned AL leaders while addressing a discussion on 15 August in the capital on Tuesday afternoon.


NBR honour top income tax payers next month
The National Board of Revenue (NBR) will declare a day in September as 'Income Tax Day' as the regulator has planned to honour some taxpayers in presence of Chief Adviser Dr Fakhruddin Ahmad.

Iftekhar stresses importance of market access of BD manufactures to US
Foreign Adviser Dr Iftekhar Ahmed Chowdhury stressed the importance of unimpeded market access of Bangladeshi manufactures to the United States particularly of ready-made garments (RMG) when a group of US Congressional Staffers called on him at the Foreign Ministry Tuesday morning.


Front Page

PC polls head for violent climax
The People’s Action for Free and Fair Elections expressed fears yesterday that Saturday’s  Provincial Council elections could turn out to be violent as there was no proper coordination between political parties, police and the election monitoring organisations.

Monkeys rob jewellery
Five monkeys are facing arrest in a village close to Maskeliya for stealing valuables worth Rs10,000 ($228) along with some food, police officials said.


Sri Lanka to establish first Nano Techno Park
The first nanotechnology park is expected to commence operations from November with an investment of US$10m (€6.7m) which is backed by the Science and Technology Ministry and SLINTec and MAS Holdings Chairman Mahesh Amalean.

Two Sri Lankans among first to pilot Emirates’ new Airbus A380
The addition of the iconic new Airbus A380 Super Jumbo aircraft to the Emirates fleet has provided two Sri Lankans with a unique opportunity to become part of this milestone in the history of the Dubai-based international airline.


Front Page

‘Impeachment charges can’t stand’ ,‘Success or defeat both would have meant defeat of the nation’
President Pervez Musharraf, who often vowed never to run away from a fight, surrendered to his political foes on Monday by tendering his resignation from office to escape the humiliation of impeachment, making way for Pakistan’s transition to a full parliamentary democracy after a lengthy military dictatorship.

Musharraf’s mixed legacy
At a time when almost everyone in the country, including many of General Musharraf’s one-time trusted friends and beneficiaries, is busy condemning his nine-year rule, to mention some of his achievements may be like committing blasphemy. Still, it’s only fair to talk of some of the big, controversial and even bold decisions he took in an attempt to change the destiny of the country.


Trade greets Musharraf’s exit with cautious optimism
Not unexpected for few, but pleasantly surprising for many, the rather abrupt appearance of President (retd) General Pervez Musharraf on television screen on Monday high noon, to announce his resignation from presidency brought an end to political and economic uncertainty in the country.

Dollar loses 4% against rupee
The resignation of former President Pervez Musharraf injected a sudden strength to the rupee which appreciated by over four per cent against the US dollar in open market on Monday.


Front Page

Suicide attack at DI Khan hospital kills 32
A suspected suicide bomber killed 32 people in the compound of a hospital in Dera Ismail Khan on Tuesday as members of a religious minority were holding a protest, police said.

Sardar Latif Khosa to be new Attorney General
Sardar Muhammad Latif Khan Khosa, a senior advocate of the Supreme Court, is being appointed as Attorney General for Pakistan


FDI up by 76 % in July despite uncertainty
Despite political turmoil, Pakistan has been continually attracting foreign investment, as the foreign direct investment (FDI) during the first month of the current fiscal year surged by 76 %.

Economic problems may take back seat: S&P
Pakistan's pressing economic problems could take a back seat as officials are caught up in the succession of President Pervez Musharraf, and this could have credit rating implications, a top Standard and Poor's executive said on Monday.

By: Staff Reporter
+44 20 8652 3214

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