In Thursday's South Asia papers

13 November 2008 05:00  [Source: ICIS news]

THE TIMES OF INDIA

Front Page

Purohit says Muslim groups helped him bomb SIMI office in Malegaon
Lt Colonel Shrikant Purohit, who shocked the country by turning out to be the first serving officer to have been allegedly involved in a terror plot, has now left the investigating agencies completely baffled by the statements he made during the narco-test.

80 temples demolished in Modi's capital
Before you call Narendra Modi Hindutva's poster-boy, take this. Gujarat's capital, Gandhinagar, has razed to the ground 80 temples or their encroaching boundaries, since authorities began a drive against illegal encroachment in one month.

Business

Air fares to fall from Jan: Patel
Civil aviation minister Praful Patel said fares would come down from "January onwards" as airline will begin passing on the benefit of cheaper jet fuel.

'Telcos tried to buy my silence'
SP leader Amar Singh on Wednesday claimed that major telecom companies tried to buy his silence on the misuse of telecom spectrum allotment with "obscene amounts" of money.

THE ECONOMIC TIMES

Front Page

Market volatility: Diversified equity funds bleed
Diversified equity schemes continue to be in the negative territory. The best performing scheme-Birla Sun Life Asset Allocation Aggressive Ten ways to make money in market (see table)-has returned -30 % in the last one year.

St stares at a winter of discontent
A sharp rise in volatility and dwindling volumes has led to a steep decline in the quantum of bulk deals on bourses in the past couple of months.

THE BANGLADESH TODAY

Front Page

Army to be deployed from Dec 12 to maintain law, order during election
Army will be deployed across the country just four to five days before holding of the parliamentary and upazila elections scheduled for December 18 and December 28 respectively.

AL to consider talks with BNP; but must have agenda: Hasina
Awami League (AL) President Sheikh Hasina has said that her party would consider sitting with the Bangladesh Nationalist Party (BNP) if it comes through formal proposal with a specific agenda for discussion.

Business

DSE registers sharp gain on SEC decision to raise margin loan ratio
The Dhaka Stock Exchange (DSE) registered sharp gains on Wednesday in response to the regulator's decision to actively consider the enhancement of margin loan ratio.

New buyers showing interest to import BD garment products
Some North American and European buyers are showing their interest to import garment products from Bangladesh mainly due to its cheaper prices, manufacturers said.

DAILY MIRROR

No new updates

DAWN

Front Page

Coalition giving time to president
The ruling coalition appears to be dallying with the impeachment process to provide time to President Pervez Musharraf to make up his mind about resigning, instead of facing a humiliating exit.

Asylum for Musharraf not on the table: Rice
The United States made it known on Sunday that it was not considering any proposal to grant political asylum to President Pervez Musharraf.

Business

Stock market woes, uncertainties
Why has the value of the Pakistani stock market dropped precipitously over the last several months? Why has so much capital flown out of the market and why has some of it gone out of the country? There is flight of capital emanating not only from foreign investors.

Managing the forex reserves
The rupee remains under pressure although the State Bank now provides foreign exchange for Pakistan’s oil imports. Bankers give many explanations for the rupee’s weakening, the oddest being the drying up of foreign investment inflows.

BUSINESS RECORDER

Front Page

Discount rate raised to 15 percent
Faced with falling forex reserves, rising inflation, persistent government borrowing and deteriorating macroeconomic imbalances, the State Bank of Pakistan, for the seventh time, raised on Wednesday its policy rate from 13 percent to 15 percent. However, unlike last time, it decided to pump more liquidity (Rs 319 bn) to meet exceptional liquidity requirements of the banking system.

Gilani asks mainstream parties to support liberation struggle
Senior Kashmiri Hurriyet leader, Syed Ali Gilani in occupied Kashmir, has asked leaders of mainstream politicians to participate in freedom struggle of Kashmir. Syed Ali Gilani in a letter, addressed to the leaders of main political parties, said that Kashmir dispute was a humanitarian crisis, which could be resolved through unity.

Business

Reforms, investment in key sectors discussed
Deputy Chairman Planning Commission Salman Faruqui discussed reforms and investment in key sectors like transport, energy, water schemes with Asian Development Bank (ADB) country director here on Wednesday. The progress made on the ongoing projects like renewable energy, power transmission, infrastructure development and earthquake assistance also came under discussion.

CCP to allow online submission of pre-merger applications by companies
The Competition Commission of Pakistan (CCP) has decided to introduce an online system for the submission of pre-merger applications by the companies. Sources told Business Recorder on Wednesday, the CCP had introduced the facility for the undertakings to expedite processing of applications on mergers.

By: Staff Reporter
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