In Thursday's South Asia papers

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

THE TIMES OF INDIA

Front page

Sensex opens below 10,000 points
Sensex once again plunged below 10,000 points following sharp declines overnight in US and Asian stocks, which tumbled to 5-year-lows.

I don't need govt protection: Raj Thackeray
MNS president Raj Thackeray rejected state security after news reached him that it had been downgraded from 'Z' to 'Y' category.

Business

It's worst ever October in 29 years for markets
Banks have gone bust, stock markets are taking a pounding the world over. And in India, this is the worst October in the 29 years that the Sensex has seen.

Home loan rates likely to come down
Home loan rates are likely to come down sooner or later as the liquidity condition has improved and repo rate cut by RBI has made banks' overnight borrowings cheaper.

THE ECONOMIC TIMES

Front page

Stocks tank at open; Nifty below 3000
Stocks plunged at open on Monday after fears of recession and deteriorating corporate earnings dragged down equity markets across the globe.

RBI eases ECB access for companies
The government and the Reserve Bank of India (RBI) have eased the norms on overseas borrowing for Indian companies to boost inflows and help corporates raise funds for projects.

THE BANGLADESH TODAY

Front page

Hearing on constituency delimitation case begins
The High Court on Wednesday started hearing on its rules earlier issued on the Election Commission (EC) asking it to show cause as to why delimitation of constituencies based on old census report shall not be declared illegal.

EC agrees to allow AL associate bodies
In a clear shift from its earlier tough stand, the Election Commission (EC) has agreed to accept the Awami League (AL) position on having associate organisations of students, teachers and professionals as their associate bodies.

Business

BB Governor asks NBFIs to be extra cautious to run their businesses
Bangladesh Bank on Wednesday warned non-bank financial institutions (NBFIs) to comply with regulations strictly and in case of failure, face tough actions.

More public-private investment needed in agriculture sector
Agriculture experts of SAARC member states have suggested boosting public-private investment in the agriculture sector in the region for ensuring food autarky.

DAILY MIRROR

Front page

Indices dip further
Colombo stocks ended down on Wednesday with most blue chips losing ground.

SC directs CEB to revert to earlier scheme
The supreme Court today directed the Ceylon Electricity Board (CEB) to revert to the earlier scheme of block to block system of electricity tariff which was operative in December 2006 granting relief to the domestic consumers as well as religious and charity organisations.

Business

MoneyGram looking for active role in SL
MoneyGram International, the world’s second biggest player in money transfers, announced yesterday that the company is looking forward to expand its business in Sri Lanka via partnerships with local banks.

Seylan Merchant Leasing deposit base tops Rs.1.5bn
Seylan Merchant Leasing PLC (SMLL), a relatively new player among licensed finance companies, has built up a deposit base of Rs.1,580m in just 18 months since it received its finance company license.

DAWN

Front page

Rs 50bn lifeline for stock market
The SECP held consultations with the three stock exchanges on Wednesday night, paving the way for a Rs 50bn package for the equity market, aimed at providing ‘comfort’ to foreign investors and a ‘soft landing’ to the market after the proposed removal of the ‘floor’ on 27 October.

Call for urgent review of war on terror: Joint session adopts resolution
The joint session of the two houses of parliament on Wednesday unanimously adopted a resolution calling for "an urgent review of the national security strategy and revisiting the methodology of combating terrorism in order to restore peace and stability through an independent foreign policy".

Business

New petroleum policy finalised: Incentives to exploration firms
The government has finalised a new five-year petroleum policy which offers various fiscal incentives to exploration companies with a more simplified procedure of licensing and award of contracts, it is learnt.

KSE signs MoU with Singapore bourse
A memorandum of understanding (MoU) was signed on Wednesday between the Karachi Stock Exchange (KSE) and the Singapore Exchange Limited (SGX) to collaborate for the benefit of the financial services industry in the two countries, a press release by the KSE stated.

BUSINESS RECORDER

Front page

Suspected US strike kills six in North Waziristan: Officials
Suspected US spy drones fired missiles early on Thursday in North Waziristan, killing six people, security officials said.

IMF moves to bail out Pakistan
The International Monetary Fund moved Wednesday to bail out cash-strapped Pakistan in the Fund's first bid to shore up an Asian economy following global financial turmoil.

Business

Strategy developed to upgrade Pak-Afghan trade, economic ties
Pakistan and Afghanistan have developed a comprehensive strategy to upgrade economic and trade relations for which documents were shared for consideration of the Afghan government, said Foreign Minister Shah Mahmood Qureshi at a joint press briefing with Afghan Foreign Minister Dr Rangin Dadfar Spanta here on Wednesday.

Kabul keen on enhancing trade, economic ties with Pakistan
Afghan Foreign Minister Dr Rangin Dadfar Spanta has said that the Afghanistan's doors are open for Pakistan for all kind of co-operation, particularly in the areas of trade and economy.

By: Staff Reporter
+44 20 8652 3214

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 4 November 2009)

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