In Tuesday's South Asia papers

21 April 2009 05:00  [Source: ICIS news]


Front page

Pak groups rope in Babbar Khalsa to launch attacks
As part of their larger plan to target prominent politicians and carry out blasts in India during Lok Sabha polls, Pakistan-based terror groups have roped in Khalistani outfit Babbar Khalsa International (BKI) to carry out terror attacks - particularly in Punjab.

Kasab’s lawyer faces flak from Shias
Terror accused Ajmal Amir Kasab’s lawyer Abbas Kazmi is facing flak from a section of Shia Muslims for taking on the high-profile 26/11 case.


TCS, a $6bn company, offers 1:1 bonus
Tata Consultancy Services (TCS), India’s top software service company, on Monday reported a fourth quarterly profit of Rs1,333 crore for FY09, up 7% year-on-year in a challenging economic environment that has seen IT spends being cut, putting pressure on billing rates.

Glaxo eyes US company for $2.9bn
GlaxoSmithKline, the British drug company, will acquire Stiefel Laboratories, a closely held American maker of dermatology products, for $2.9bn in cash, the companies said on Monday.


Front page

Domestic MFs seek clarity on bad assets
Officials from select domestic mutual funds are believed to have met Association of Mutual Funds of India (AMFI) on Monday to sort out a grey area involving possible defaults by firms, who sold bonds and fixed income instruments to mutual funds.

Mynampati & Murthy to stay on board of Satyam
Ram Mynampati and AS Murthy will stay on in Satyam Computer to help Tech Mahindra, the new owners, complete the takeover of the troubled software major.


Front page

Trial of war criminals to be finished before Victory Day
Law State Minister Advocate Quamrul Islam said that the government is determined to put war criminals behind the bar and their trial will be finished before upcoming victory day on 16 December, 2009.

Stimulus package without textile sector unrealistic: BTMA
Bangladesh Textile Mills Association (BTMA) on Monday hinted at launching a joint movement with BGMEA and BKMEA as it found the government’s stimulus package unrealistic as it left out the textile sector.


BD receives $4.13m export order from APLF-09
Bangladesh has received a $4.13m export order from the Asia Pacific Leather Fair (APLF) 2009 held in Hong Kong.

Spinning sub-sector likely to get cash incentive: Muhith
Finance Minister MA Muhith on Monday indicated that he might consider cash incentive for spinning sub-sector as it has been affected by the global recession.


Front page

Scores arrested in Paris Tamil protest on Sri Lanka
Around 180 people were arrested and four injured in Paris on Monday during an unauthorised protest by Tamils that turned violent.

HRW seeks UN commission of inquiry
Human Rights Watch says there is a need for a United Nations commission of inquiry to investigate war crimes in Sri Lanka adding that the army is still using heavy artillery while the LTTE continues to block civilians from fleeing the war zone.


Raising new funds for an emerging war-weary economy
In a bid to overcome the current financial difficulties (especially to keep the rupee at stable level), the government is currently negotiating with various other financial organisations and institutions besides the IMF in order to secure loans at the lowest interest rates.

Govt removes LPG excise levy in ceramic sector
The Sri Lanka Ceramics Council announced yesterday that the Government, having considered the implications of the recently introduced excise duty on LPG has removed this excise duty with effect from 26 March 2009.


Front page

US urges other nations to fight extremists in Pakistan
The United States said on Monday that the entire international community should join Pakistan in confronting violent extremists like those who now run the Swat valley.

Adl Regulation contingent on peace in Swat: Gilani
Prime Minister Yousuf Raza Gilani said on Monday that Nizam-i-Adl Regulation was contingent on peace in Swat.


No new updates


Front page

Discount rate lowered by 100 basis points to 14%
The State Bank of Pakistan, easing its monetary policy for the first time in 22 months, on Monday slashed key policy rate by 100 basis points to 14% citing positive inflation outlook.

Tax revenues likely to fall short of target
The State Bank of Pakistan on Monday said that tax revenues are likely to fall short of the stipulated target and weakening of domestic and global environment can also increase the stress on Pakistan’s banking system.


Pakistan offers farmland to foreign investors
Pakistan is offering one million acres of farmland, protected by a special security force, for lease or sale to countries seeking to secure their food supplies, an official from the ministry of finance said on Monday.

SBP sees inflation at 8% in 2010
The State Bank of Pakistan on Monday said that inflationary pressures are easing and average inflation is expected to come down to 8% in fiscal year 2010.

By: Staff Reporter
+44 20 8652 3214

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