In Wednesday's South Asia papers

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

THE TIMES OF INDIA

Front Page

Jammu on high alert; militants kill five
High alert declared in the Jammu, after three militants fired indiscriminately in the Mishriwala area near in the city on Wednesday, killing four civilians and one Junior Commissioned Officer. Reports suggest that the three militants were travelling in an autorickshaw, after killing the driver.

India, US work on revised text for NSG waiver
As India and the US work on a new draft text for an NSG waiver, some compromise solutions to the most sticky issues have been proposed but India has not accepted all of them yet.

Business

Four majors eye Datacom stake
The lure of having a strong foothold in the fastest growing telecom market in the world has drawn at least four global telecom majors — from three different continents — in race to buy up to 51% stake in Datacom Solutions.

Open offers make hay in bearish market
The success rates of recent open offers seem to have increased as the stock markets fell from their high in January.

THE ECONOMIC TIMES

Front Page

$10bn ready to make India entry through FVCIs
Lack of clarity over foreign venture capital investments (FVCIs) in India has led to 83 applications from foreign venture capital firms piling up with the Reserve Bank of India for approval.

Carmakers turn the heat on Nano vendors
The highly-competitive rates being offered by component makers for the Nano project are making other car manufacturers angry. Leading the counter-attack is market leader Maruti Suzuki.

THE BANGLADESH TODAY

Front Page

"Govt responsible for Tarique’s accident"
Condition of detained BNP Senior Joint Secretary General Tarique Rahman, who has received head injury after falling down in a bathroom of the prison cell at Bangabandhu Sheikh Mujib Medical University (BSMMU) on Monday, is improving.

Announce polls date or prepare to hold elections on date declared by party: AL
Awami League on Tuesday asked the Emergency Government to announce the dates of national polls or to be prepared to hold elections on dates to be announced at the party’s next central meeting.

Business

Bangladesh has overcome food availability problem
World Bank Country Director Xian Zhu Tuesday said Bangladesh has overcome a major food availability problem that caused enormous suffering to income groups in urban and rural areas in March/April this year.

‘Several more years’ needed to get rid of toxic onslaught
Relocation of the tanneries of Hazaribagh will take 'several more years' to be completed since the authorities are facing various complications regarding land acquisition, setting up an Effluent Treatment Plant (ETP), and 'reluctant' tannery owners, sources of Bangladesh Small and Cottage Industries Corporation (BSCIC) said.

DAILY MIRROR

Front Page

LTTE aircraft dropped bombs near Trinco Navy Base and harbour – SLN
Navy sources confirmed that an LTTE aircraft had dropped bombs near the Trincomalee Navy base and harbour causing slight damages. The Navy had retaliated by firing at the aircraft upon which the aircraft had withdrawn.

President says no hurry for snap poll
President Mahinda Rajapaksa yesterday declared that he was not in a hurry to hold a snap general election as the mandate he had received was valid up 2010. He said the opposition leader was crying for a general election as his position as the party leader and opposition leader was under threat.

Business

BOI to record FDI worth $1bn in 2008
By Ravindu Peiris The Board of Investment (BOI) yesterday reported that within the first six months of 2008 it had recorded Foreign Direct Investments (FDIs) amounting to $425m and is expecting it to increase up to at least $1bn by the end of the year. This was a 36% increase compared to the corresponding period in 2007.

Energy costs dampen CEYLON GLASS
The Board of Directors of Ceylon Glass Company Limited (CGCL) declared the results for the Quarter ended 30th June 2008. The company has reported a Sales value of LKR679m in the first quarter of the financial year 2008/2009 as against LKR469m in the corresponding quarter of the previous year.

DAWN

Front Page

32 file papers for presidential poll
Thirty-two candidates have entered the race for the country’s top constitutional office and submitted a total of 67 nomination papers. The presidential election is scheduled for Sept 6.

Eight deposed SHC judges may take oath today
Eight deposed judges of the Sindh High Court are expected to return to their seats on Wednesday, opening the way for more inductions as the federal government is planning to increase the strength of high court judges to 40 from 28.

Business

Demurrage charges on containers waived
All the three container terminal operators of Karachi and Qasim port have agreed to waive demurrage charges worth millions of rupees on boxes which could not be cleared by importers owing to eight-day strike observed by the goods’ transporters.

OGDC’s fast track privatisation okayed
The board of Privatisation Commission on Tuesday accorded its formal approval to privatise OGDCL on a fast track basis through sale of its shares and strategic assets with management control, including Qadirpur Gas Field.

BUSINESS RECORDER

Front Page

Notification for restoration of eight SHC judges likely today
A notification for the reinstatement of eight deposed judges of Sindh High Court (SHC) is likely to be issued today (Wednesday). According to sources, reinstatement notification and sworn-in ceremony of deposed judges is also expected on Wednesday.

Gas cylinder blast kills eight, injures 20 in Sihala
Eight people have been killed and 20 others injured in a gas cylinder explosion in Sihala Model Town on Kahuta Road located in the outskirts of Islamabad on Tuesday. The condition of many injured was critical according to the doctors.

Business

Government reconstitutes seventh NFC
The government has re-constituted ten-member National Finance Commission (NFC) for the award of distribution of resources from the federal divisible pool. Minister for Finance, Revenues and Economic Affairs Syed Naveed Qamar will head the commission.

Inquiry to be conducted on inflated billing: Ashraf
Inquiry will be conducted if information is provided on inflated billing and unscheduled power outages in Pakhtoonkhawa and Balochistan. This was stated by Minister for Water and Power Raja Pervaiz Ashraf in reply to a question of Senator Sahibzada Khalid Jan in the Upper House here on Tuesday.

By: Staff Reporter
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