In Thursday's South Asia papers

09 October 2008 06:00 [Source: ICIS news]

Front page

Govt to deny Muslims, Christians SC status
The proposal to give SC status to a child with either parents as Dalit has taken a curious turn, with the Centre deciding not to allow Christians and Muslims into the list.

Bush signs bill on Indo-US nuclear deal into law
US President George W Bush has signed into law the legislation to implement the historic Indo-US nuclear deal paving the way for the 123 agreement on Friday.

Business

'Little impact on India of global rate cuts'
The condition in India is not that bad. Here banks are ready to lend to corporate, but the problem is of liquidity.

Regaining glitter: Gold prices rise to record Rs 13,820
Deepening worries over global financial markets and depreciation of rupee have increased the appeal of gold with prices of yellow metal touching a new high of Rs 13,820 per ten grams in the domestic market on Wednesday.

THE ECONOMIC TIMES

Front page

Banks to offer higher interest rates
Liquidity crisis has deepened, forcing banks to offer much higher interest rates on short-term deposits.

IBM preliminary profit beats expectations
IBM posted a stronger-than-expected preliminary Q3 profit defying worries that credit crisis would hurt demand.

THE BANGLADESH TODAY

Front page

Consensus to disband fronts
After strong debate on some contentious issues, including disbanding party's front organisations and barring partisan election observers, both Awami League and Election Commission reached a consensus during their fourth-time bilateral dialogue at Election Secretariat in the capital on Wednesday.

Govt mulls reducing fuel price soon: M Tamim
The government is going to reduce the fuel price within a month following the sharp fall in oil price in the international market.

Business

Iajuddin for gas import from Myanmar
President Prof Dr Iajuddin Ahmed expressed his keen interest in importing gas from Myanmar for fertiliser manufacturing for re-export.

DSE bounces back
The Dhaka Stock Exchange (DSE) bounced back on rising trend Wednesday following the two-day consecutive falls as investors took position on profit expectation.

DAILY MIRROR

Front page

Waters Edge deal illegal : SC
The Supreme Court in a landmark judgment yesterday directed that the Waters Edge Golf Course premises be handed over to the Urban Development Authority within four months and ordered former President Chandrika Kumaratunga to pay three million rupees, businessman Ronnie Peiris to pay two million rupees and three others to pay one million rupees each as compensation to the State.

Business

Credit Crunch: SL Immune?
As the economies of the world started to feel the effects of the global credit crunch, Sri Lankan currency maintains a stable level since the Sri Lankan economy is not exposed like other global economies, according to the Senior Dealer (Corporate Sales) of the Commercial Bank, Tivanka Damunupola.

First-ever Regional Chamber Presidents’ Conference in Sri Lanka
To achieve a broader perspective of promoting and developing the rural economy, especially in the SME sector, and to achieve the primary goal of trade and industry chamber movement to facilitate commerce and industry in general, the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has coordinated with its regional chambers to organize the “Regional Chamber Presidents’ Conference”

DAWN

Front page

Military seeks politicians’ support to fight militants
The military took elected representatives of the nation into confidence on Wednesday about the worsening situation in Fata, NWFP and Balochistan and the US-led “war on terror” during a joint sitting of the two houses of parliament held in camera.

SBP steps in to calm down jittery market
The State Bank intervened in the money market on Wednesday with two firefighting initiatives.

Business

Default reports termed mere speculations
Federal finance ministry officials shrug off reports of the country’s possible default on its foreign obligations over the next several months as mere rumours.

10-gram gold price hits record at Rs 23,142
The local gold price hit the record peak at Rs 23,142 per 10 grams on Wednesday, from Rs 22,242 on Tuesday after the yellow metal rates on the international markets surged to $911 from $887 per ounce.

BUSINESS RECORDER

Front page

In-camera session begins with briefing on security: 'militants targeting national economy'
The military informed the parliamentarians on Wednesday that militancy in the shape of Taliban has become a real threat and the militants have adopted tactics to economically weaken Pakistan.

SBP intervenes as rupee plunges
The State Bank of Pakistan has taken several measures to stop the fall of rupee against the dollar by intervening in the interbank market with $100m and offering exchange companies for unlimited supply of dollar at a notional rate of Rs 80, sources said.

Business

Political backing sought to act against sugar and cement cartels
The Competition Commission of Pakistan (CCP) has asked the Economic Co-ordination Committee (ECC) of the Cabinet to provide full political support and backing to prove alleged cartelisation in the cement and sugar sectors.

Cross LoC trade logistics finalised
The occupation authorities held a meeting with the representatives of Kashmir-based traders and fruit growers to finalise logistic arrangements for cross LoC trade scheduled to begin from 21 October.

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly