In Tuesday's South Asia papers

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

THE TIMES OF INDIA

Front Page

ATS retracted RDX claim under pressure
It was pressure from an embarrassed Centre which forced the ATS to go back on its charge that 60 kg of RDX allegedly pilfered by Lt Col Prasad Purohit was used in the Samjhauta Express blast last year.

NRIs keep faith in India, pump $513m in September
There is no crisis of confidence in Indian banking as far as the diaspora is concerned.

Business

Raise airport charges: GMR, GVK
Facing significant revenue erosion because of the slowdown in air traffic, the private players involved in developing Delhi and Mumbai airports sought the government's clearance to raise 10% aeronautical charges along with some other relief.

Bidders withdraw from highway projects
Many short listed bidders of highway projects under the National Highways Authority of India (NHAI), that came up for financial bidding recently, have withdrawn either due to government restrictions or the fact that projects are not commercially viable anymore.

THE ECONOMIC TIMES

Front Page

Brokers feel the bottomline pinch
Steadily, shrinking turnover on the bourses is taking its toll on the bottomline of leading broking houses, as can be seen from the latest quarterly numbers for the sector.

Top Indian IT cos to tide over slump
At a time when customers in the US and Europe are tightening their IT budgets, leading Indian tech firms are betting on their huge pile of cash to steer through the global economic crisis and also to explore M&A opportunities in a world reeling under severe liquidity crunch.

THE BANGLADESH TODAY

Front Page

BNP and its alliance decide to contest polls subject to fulfillment of 4 demands within 48 hours
BNP Chairperson Begum Khaleda Zia has given a declaration to participate in the upcoming parliamentary election subject to fulfillment of four-point demands including full-fledged withdrawal of emergency, cancellation of section 91 E of RPO, deferment of upazila poll by a month and ensuring votes by hajj pilgrims within 48 hours.

AL gives nomination to 240 candidates, seat distribution among alliance to be finalised today
Awami League led 14-party alliance will finalise parliamentary seat distribution among alliance parties today (Tuesday) and they also demanded of the government to delay upazila polls for at least 45 days.

Business

DSE continues with poor turnover
The Dhaka Stock Exchange (DSE) continued to register a poor turnover until Monday, causing a slight fall in the benchmark index for the second consecutive day.

Global stock markets rattled as recession slams into Japan
World stock markets were rattled Monday as recession spread to Japan, overshadowing a weekend summit in Washington that was aimed at calming the economic crisis, analysts said.

DAILY MIRROR

Front Page

Sea battle off Nayaru
The Navy destroyed at least two Sea Tiger crafts and damaged another during a sea battle off Nayaru, in Eastern seas a short while ago. The Navy said the Air force attacked the fleeing Tiger crafts

Four abducted in Horowpathana
Four people were abducted in Horowpathana last evening.

Business

CTC major contributor to Government Revenue
Government levies have been Rs 34.3m from the legal cigarette manufacturer for the last 9 months ending 30th September 2008, an increase of Rs.4.8m over the same period last year.

Hemas marks 17% growth
Hemas releasing its interim results for the quarter ended September 2008 indicated a 17% growth with a turnover of Rs. 4.2bn.

DAWN

Front Page

Pakistan hopeful of policy review by Obama administration
The government told the National Assembly on Monday it hoped for a policy review by the new US administration of President-elect Barack Obama taking office next month, while repeating its rejection of a US newspaper report that alleged a tacit deal between the two sides allowing drone attacks on Pakistani tribal areas.

Aafia unfit to stand trial, says US judge
Aafia Siddiqui, the Pakistani woman suspected of links to Al Qaeda and charged with trying to kill American interrogators in Afghanistan, is mentally unfit to stand trial, according to her psychiatric evaluation.

Business

Vendors, carmakers to seek govt rescue
The automakers and vendor industry will seek a rescue package in a meeting with Shaukat Tarin, the adviser to the prime minister on finance, this weekend to save the entire industry from virtual collapse amid plunging sales that has triggered massive layoffs.

13 file papers for five seats on KSE Board
Thirteen members of the Karachi Stock Exchange have filed nomination papers to contest for five stock broker seats on the board of directors of the KSE for the year 2009.

BUSINESS RECORDER

Front Page

Friends of Pakistan agree to road map
A group of donor countries dubbed as Friends of Pakistan Group agreed on Monday to a roadmap with a resolve to enabling Pakistan overcome its present financial crisis, according to sources.

Security tight as IoK votes in state polls
Indian occupied Kashmir voted under tight security on Monday for a new state government, with a boycott call by Muslim freedom fighters triggering sporadic clashes but failing to shut down the ballot.

Business

Foreign investment down by 30 percent
Net foreign investment during the first four months of the current fiscal year declined by 30 percent mainly due to massive outflow of $487.47m from portfolio investment owing to poor law and order situation and uncertainty on political front.

ADB to provide $1.3bn in three years
Asian Development Bank will provide $1.3bn quick disbursement loans to Pakistan to support broader reforms, correcting macro imbalance and budgetary support over next three years, says Manila based bank's documents.

By: Staff Reporter
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