In Thursday's South Asia papers

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


Front page

Round II: Big day for YSR Reddy, Naveen Patnaik today
The second phase of polling will settle the fates of two satraps with Orissa Chief Minister Naveen Patnaik seeking a majority on his own steam while his Andhra Pradesh counterpart Y S Rajashekhar Reddy looking to retain his fiefdom.

Pakistan a mortal threat to world: Hillary
A stunned Obama administration said on Wednesday that Pakistan posed a "mortal threat" to the United States and world after a rampant Taliban moved to within 60 miles of Islamabad by taking control of Buner district just outside the capital region.


HCL Tech net declines 36%
Despite good operational performance, Software major HCL Technologies reported a decline in net profit for the quarter ended 31 March, 2009 due to losses on account of currency fluctuations.

NSE drops 50 companies from F&O; stocks hit
The National Stock Exchange’s latest circular announcing exclusion of 50 stocks figuring prominent names such as 3i Infotech, Reliance Industrial Infra, Gitanjali Gems, UTV Software, SREI Infra, Arvind, Balaji Telefilms, Escorts, Aptech among others from the Futures & Options (F&O) segment, has hit the individual stocks hard.


Front page

Banks plan to restructure Rs80K crore loans
While banks are busy finalising their books for the last fiscal, many of them are on an overdrive restructuring certain accounts to rein in non-performing assets (NPAs).

Companies book Nano in bulk to offer as staff rewards
Companies like Shree Cement, Linc Pen to even leading lights of the country’s financial spectrum are gunning for bulk bookings of Nano, which will be offered to employees as a reward option.


Front page

We have no control over electricity: Tuku
State Minister for Power Shamsul Haque Tuku on Wednesday said the government has no control over the erratic electricity supply, a chronic problem.

Govt plans to restructure taxation systems to save local industries: Dilip Barua
Industries Minister Dilip Barua on Wednesday said the government has planned to restructure the current taxation system to protect domestic industries.


Textile yarn to get enhanced cash incentive from April: Muhith
Finance Minister AMA Muhith Wednesday assured a delegation of Bangladesh Textile Mills Association (BTMA) to increase cash incentive for yarn exports as the sector has been suffering from recession impact.

Bleak economic data sets tone for British budget
The British economy is buckling under the strain of record public borrowing, soaring unemployment and a deep recession, gloomy data showed on Wednesday ahead of a vital government budget statement.


Front page

Army knows where Prabha is - Army Chief
Army Chief Lt Gen Sarath Fonseka has told the BBC that troops knew the "general area" where LTTE leader Velupillai Prabhakaran was hiding and that "action will be taken to destroy him".

Pakistan docs refuse to treat Lankan student
An agitation was created when doctors at a Pakistani hospital had refused to treat a Sri Lankan female medical student with brain hemorrhagic attack owing to her critical condition.


SL lowers interest rates ahead of IMF bailout
Sri Lanka’s central bank reduced interest rates for the fourth time in as many months to bolster an economy growing at the weakest pace since 2001.

ComBank ATMs dispense record Rs11bn in April
The Automated Teller network of the Commercial Bank of Ceylon dispensed a record Rs11bn in the month leading up to the Sinhala and Tamil New Year, indicating the popularity and reliability of the bank’s ATM network and the growth of its ATM cardholder base, Sri Lanka’s benchmark private bank announced this week.


Front page

Pakistan giving up to militants: Hillary
US Secretary of State Hillary Clinton said on Wednesday she believed the Pakistani government was abdicating to the Taliban and other militants.

Afghanistan and India behind BLA: Malik
The prime minister’s adviser on interior affairs surprised the Senate on Wednesday when he directly accused Afghanistan and India of supporting the Baloch National Army’s campaign for Balochistan’s secession from Pakistan and also implicated the BLA in the kidnapping of UNHCR official John Solecki.


Fish exports up 21% in value during nine months
Fish exports increased by 21% in value during the nine months of the current fiscal year despite a ban imposed by EU on import of fish from Pakistan in April 2007 on quality issues.

OMV begins testing of Tajjal-1 gas well
OMV Aktiengesellschaft, Central Europe’s leading oil and gas group, has announced the start of the extended test of well Tajjal-1 in Gambat Block, about 120km south east of Sukkur in Sindh.


Front page

Taliban advances pose existential threat to Pakistan: Clinton
US Secretary of State Hillary Clinton said on Wednesday that Taliban advances pose ‘an existential threat’ to Pakistan and urged Pakistanis worldwide to oppose a government policy yielding to them.

Textile industry: Panel formed to resolve issues of load shedding, tariff
The government on Wednesday constituted a committee to resolve the issues of load shedding and textile industry’s prevalent power tariff, after industry leaders threatened to close down their factories for indefinite period.


Lawmakers and economic bodies urged to take part in budget discussions
Faisal Karim Kundi, Acting Speaker National Assembly has called for enhancing interaction between parliamentarians, economic organisation and public for creating wide spread acceptability of the annual national budget.

Poverty reduction: Pakistan undertaking home-grown strategy
Pakistan is undertaking a home-grown strategy for growth and poverty reduction that will be implemented with the support of the IMF and other development partners.

By: Staff Reporter
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