In Tuesday's South Asia papers

23 September 2008 06:00  [Source: ICIS news]

THE TIMES OF INDIA

Front page

Nuke deal caught in US financial storm
Hurricanes Gustav and Ike are gone from mainland United States, but Prime Minister Manmohan Singh is flying into a perfect financial storm that could make the US-India nuclear deal, a pet project of the Indian leader and the US president, a momentary casualty.

Rahul as PM? Congress scion says 'question is open'
To a question on his possible elevation as PM of India, Rahul Gandhi told students at Patiala's Punjabi University that the question will remain "open, not closed."

Business

Wall Street plunges on rescue plan doubts
US shares plunged on Monday as doubts emerged about the prospects for a massive $700bn government plan to bail out the banking industry.

Indian banks may weather market turmoil better than China: S&P
Growth in core industries may have slowed, GDP targets may have been revised downwards, but Indian banking industry is expected to stand tall amidst rough weather—at least better than China.

THE ECONOMIC TIMES

Front page

Stocks seen lower on crude oil spike, weak global cues
Equities are seen lower on Tuesday tracking weak global markets as concerns on the long-term implications of the $700bn bailout plan worried investors.

It's business as usual for Morgan Stanley & Goldman in India
Roiled by turbulent market conditions and client defections, the curtains have fallen on the two largest independent investment banks, Goldman Sachs and Morgan Stanley, with the Federal Reserve approving their request to become commercial banks.
 
THE BANGLADESH TODAY

Front page

We are shocked, frustrated with Jamaat, IOJ attitudes: CEC
The Election Commission (EC) has ruled out the possibility of any major change in the electoral reforms as demanded by BNP and its allies; however the commission has agreed to bring minor changes in the provisions for registration of the political parties.

‘Govt & EC have to solve RPO problem’
Announcement of parliamentary polls' date as per roadmap and return of two political leaders Awami League President Sheikh Hasina and BNP Chairperson Khaleda Zia in politics have soothed country's political crisis, political leaders and analysts told The Bangladesh Today on Monday.

Business

DSE hits new record of market capitalisation crossing Tk 1.0 trillion-mark
The Dhaka Stock Exchange (DSE) on Monday hit a new record of market capitalisation, crossing a Tk 1.0 trillion-mark, thanks to First Security Bank for its debut trading at the country's premier bourse with market capitalisation of Tk 2.3bn.

Paulson calls on US Congress to move quickly on rescue
US Treasury Secretary Henry Paulson urged Congress on Sunday to swiftly adopt an unprecedented $700bn financial rescue plan, deflecting calls from Democrats for measures to help at-risk homeowners.

DAILY MIRROR

Front page

Troops comb Yala sanctuary
A search operation has been launched in the Yala Wild Life sanctuary after suspected LTTE cadres attacked troops in the area this morning injuring one soldier.

Curfew in Weligama
A police curfew was imposed in Weligama, Matara last night to prevent a repeat of the clash that took place between two groups in the area on Sunday night.

Business

SL Economy needs peace, good policies
Peace demands, political solutions and economic growth is mainly a consequence of good economic policy and an effective public sector and this could be achieved if there are interlinks between peace and economic growth.

ACL Cables to launch first-ever copper rod plant in Sri Lanka
ACL Cables which recently won the World Class Asia Pacific Quality Award (IAPQA) 2008, said that they are now in the process of changing gear and concentrating on backward integration, and the company is currently on the verge of launching Sri Lanka’s first ever copper rod factory.

DAWN

Front page

Gunmen kidnap top Afghan diplomat, kill driver
Afghan Consul-General in Peshawar Abdul Khaliq Farahi was kidnapped on Monday and his driver was shot dead for resisting the assailants, police officials said.

Bush-Asif meeting ‘very important’, says White House
The White House said on Monday that President George W. Bush’s meeting with his Pakistani counterpart was very important.

Business

Import of raw cotton to cost $1.5bn
While the foreign exchange is running out, it may be difficult for the country to spend a huge sum of about $1.5bn on import of raw cotton.

Petroleum import bill increases 88%
Pakistan’s import bill of petroleum products reached $2.532bn during the first two months of the current fiscal year, which is up by over 88 % from last year’s figure of $1.344bn, data of the Federal Bureau of Statistics said on Monday.

BUSINESS RECORDER

Front page

President in New York with heavy assignment of seeking aid
President Asif Ali Zardari arrived here Monday to lead Pakistan's delegation at the 63rd session of United Nations General Assembly.

Liquidity injection to precede removal of floor from KSE
A comprehensive package consisting of both fiscal and monetary measures is being finalised to provide necessary liquidity to bourses prior to the removal of floor on the Karachi Stock Exchange.

Business

Pakistan to hold two investment conferences in China
In order to lure Chinese investors, Pakistan is scheduled to hold two investment conferences in the month of November this year.

Pakistan and India agree to Kashmir border trade route
India and Pakistan agreed on arrangements to open a border route for bilateral trade in disputed Kashmir, a joint panel said on Monday.

By: Staff Reporter
+44 20 8652 3214

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