In Monday's South Asia papers

01 September 2008 05:30  [Source: ICIS news]

THE TIMES OF INDIA

Front Page

Relief as Kosi water gets outflow into Ganga
There seems to be some good news finally from the flood-ravaged Kosi region in Bihar. The outflow of the Kosi's water into the Ganga increased on Sunday. This, in turn, would not allow the river's flood area to expand abruptly even if there is an increased water discharge into the Kosi from Barah Kshetra in Nepal.

Montek rejects President's proposal for all-women IIT
Planning Commission deputy chairperson Montek Singh Ahluwalia has rejected President Pratibha Patil's proposal for an all-women IIT at Amravati, but this may not be the last word on the matter. As sources point out, the world over there are all-women education institutions imparting higher education, including technical and management courses.

Business

October 3G bid may bar global cos
Telecom minister A Raja's statement that 3G spectrum auctions will be concluded by October 2008, has virtually blocked out most new entrants, especially global telecom companies which are already disillusioned by the higher financial entry barriers that they face.

Jet fuel prices down, but not fares
It's bad news for people hoping to get back on planes again. Although oil marketing companies on Sunday announced a substantial 16% reduction in price of aviation turbine fuel (ATF or jet fuel) for September, airlines have refused to pass on this benefit to consumers by lowering fares, that have already gone up six times this year.

THE ECONOMIC TIMES

Front Page

Stocks seen lower on weak global cues
Equities are likely to remain subdued on Monday tracking the gloom in overseas markets after oil inched higher on fears of Hurricane Gustav gaining strength.

China, India slowdown threatens global auto market
A sudden slowdown in car sales in China and India is threatening to shrink the global auto market this year, promising tougher times for an industry leaning on the two most populous countries to pick up the slack in the West.

THE BANGLADESH TODAY

Front Page

Govt, ACC appeal Tarique’s bails
The government and the Anti-Corruption Commission on Sunday filed appeal against the High court bail to Tarique Rahman in three cases—Tk 10m extortion case, Zia Orphanage Trust case and case for earning illegal wealth.

Plotters active to foil polls, BNP directly collaborating with govt: AL
The Awami League Central Working Committee (ALCWC) meeting - that adjourned till today (Monday) - would finalise the agenda for the ensuing dialogue with the Election Commission on September 4 keeping in mind the recent 'controversial' activities of the Emergency Government.

Business

US government ‘bazooka’ may save Fannie, Freddie
Can Treasury Secretary Henry Paulson's "bazooka" save mortgage finance titans Fannie Mae and Freddie Mac from a calamitous meltdown? The two groups that underpin trillions of dollars in mortgages are facing a crisis that could force the US government to step in and possibly nationalize them, but some say the mere promise of massive aid may be enough to restore confidence.

US, Taiwan, Japan ask WTO to probe EU tariffs
The US, Taiwan and Japan asked the World Trade Organisation to decide whether European Union duties on $11bn of high-tech electronic imports such as computer screens and multi-function printers break global trade rules.

DAILY MIRROR

Front Page

Fire onboard Navy vessel
A fire broke out in the generator room of the navy boat 'Sagara' which was at the Colombo Port last night. Police say a short circuit was believed to have been the cause of the fire. An investigation is underway.

Army moves into Mallavi town
The Army yesterday moved into the strategically important Mallavi town West of Mankulam amid heavy resistance by the LTTE, defence sources said.

Business

Business confidence on the mend – LMD
There’s been a complete change of heart in business circles, says LMD, reporting on the latest business confidence index. The LMD-Nielsen Business Confidence Index (BCI) rose by 33 points in August, to a five-month high of 94, the pioneering magazine’s forthcoming edition reveals.

Shirley Perera appointed Chairman IFL
Effective September 1, Mr Shirley Perera will be assuming duties as the Chairman of Industrial Finance Limited, the most recent acquisition by the Aspic Group of companies.

DAWN

Front Page

Kurram clashes leave 95 dead, 200 injured
At least 95 people have been killed and 200 others injured in fresh clashes between rival tribes in Kurram Agency.

Most parties in Balochistan back Asif
Prime Minister Yousuf Raza Gilani said on Sunday that the PPP and its allies had a clear majority in the presidential electoral college and its candidate Asif Ali Zardari would win the election comfortably.

Business

Circular debt, looming defaults
The fiscal crunch is taking a heavy toll on the corporate sector. The private sector energy companies are touching their borrowing limits, the public sector is defaulting in its payment commitments and the public at large is struggling to cope with more than seven hours of load shedding daily in addition to unannounced power breakdowns.

Steep fall in growth of consumer financing
Growth in consumer financing—personal loans, mortgage, credit cards, car leasing, etc—decelerated sharply to just above 3% in FY08 after expanding by 17% the previous fiscal.

BUSINESS RECORDER

Front Page

Six killed in Miranshah missile strike: official
A missile fired from an unmanned aircraft hit a house in a restive tribal area on Sunday, killing six suspected militants, residents and officials said.

95 killed, 194 injured in fresh Kurram clashes
At least 95 people including 77 militants were reportedly killed and another 194 sustained injuries in one of the worst skirmishes between warring tribes and Taliban in troubled Kurram Agency, political administration's sources said on Sunday.

Business

Government claims on FDI rise not supported by facts
The tall claims of the government that foreign direct investment (FDI) had increased by 76.1% during July 2008 over the same month of last year is not supported by facts and figures as inflow from two major contributors i.e. USA and UK had actually decreased during this period.

Foreign investors withdraw over $12.7m in one week
A massive outflow of portfolio investment from the country's equity market continued as the foreign investors withdrew over $12.7m during the outgoing week while the cumulative outflow of $50m was recorded in the current month of August 2008.

By: Staff Reporter
+44 20 8652 3214

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