In Tuesday's South Asia papers

02 June 2009 05:00  [Source: ICIS news]


Front page

Search for missing Air France jet intensifies
The search for the Air France plane that disappeared over the Atlantic is on, but little hope remains that any of the 228 people on board would be found alive.

In a first, an IIT-IIMer as MP in 15th Lok Sabha
Prem Das Rai, elected from Sikkim, has the distinction of being the first ever IIT-IIMer parliamentarian. Rai hopes to contribute in changing the way MPs are viewed here.


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Front page

Banks rule out drastic cut in lending rates
Leading banks have told corporates that there can be no dramatic reduction in lending rates. While the government is nudging banks to cut rates, lenders have told apex industry bodies that rates cannot be lowered to the extent that corporates are demanding.

Australian policemen thrashed protesters
Indian students were punched in the head and stomped on the chest by cops during the Melbourne protest rally on Sunday.


Front page

Speculations about resignation of Sohel Taj
Speculations were rife in the capital on Monday that the State Minister for Home Affairs Tanjim Ahmed Sohel Taj has tendered his resignation.

Clock to be advanced an hour from zero hour on 19 June
The cabinet on Monday decided to advance the clock by an hour from zero hour on 19 June to make the most of sunlight as a measure for solving the prevailing crisis of electricity.


President urges Indonesia to import goods from Bangladesh
President Zillur Rahman on Monday urged Indonesia to import various goods, including world-class pharmaceutical products, jute goods, halal meat and readymade garments, from Bangladesh.

China, US crucial to world economy
US Treasury chief Timothy Geithner began a two-day visit to Beijing on Monday by calling China and the United States indispensable partners in solving the economic crisis and other world issues.


Front page

India has the strongest team in T20 WC - Sanath
Sri Lanka’s explosive opening batsman Sanath Jayasuriya says the Indian team is the most solid side in the race for the T20 world cup.

UK sold weapons to help Lankan army defeat LTTE - Report
Britain and other EU countries sold military equipment worth millions of pounds to the Sri Lankan Government in the last three years of its bloody civil war with the Tamil Tigers, The British Times reported.


ADB triples capital to boost poverty reduction efforts
The Asian Development Bank’s (ADB) Board of Governors has agreed to triple ADB’s capital base from $55bn to $165bn, giving it much-needed resources to respond to the global economic crisis and to the longer term development needs of the Asia and the Pacific region.

MTD Walkers profits up by 177%
MTD Walkers PLC, the holding company of the diversified Walkers group of companies announced posting of a net profit of Rs109m and revenue of Rs1.5bn for the financial year ended 31 March 2009.


Front page

Taliban kidnap over 500 Cadet College students
Tribal militants kidnapped over 500 students of the Razmak Cadet College from the Bakkakhel Frontier Region, Bannu, adjacent to the North Waziristan tribal region, on Monday, according to government and police officials.

Pakistan cooperating with Iran against rebel group
Iran said on Monday that a shadowy rebel group reportedly behind a deadly mosque bombing last week had ties with foreign forces based in Afghanistan, foreign agencies reported.


Budget size expected to reach Rs2.9 trillion
The size of the budget for 2009-2010 is likely to be increased by Rs210bn to Rs2,900bn.

Monetary expansion jumps by 4% in a month
Monetary expansion jumped by almost 4% in a month as government geared up borrowing from all possible resources which pushed its budgetary support borrowing even higher than the first 11 months of the current fiscal year.


Front page

All abducted Razmak students freed: Officials
The military on Tuesday freed 80 students and teachers of Cadet College Razmak who had been kidnapped the previous day by Taliban militants, military and government officials said.

Proposed textile policy aims at $25bn exports, 2.9m jobs
Prime Minister Yousuf Raza Gilani on Monday constituted a Cabinet committee to evaluate the proposed textile policy, envisaging specific initiatives, for achieving an export target of $25bn and creating 2.9m jobs over the next five years.


German companies keen to invest in Pakistan
A German delegation led by Axel Pliefke, CEO, Handel Services Consulting, Germany along with Mehr Muhammad Yousaf Chand, Honorary Investment Counsellor (HIC) and Tariq Mahmood visited Ministry of Investment (Board of Investment) and called on Saleem H Mandviwalla, Minister of State and Chairman BOI on Monday.

Judicious distribution of NFC award demanded
The Pakistan Muslim League-Nawaz (PML-N) believes that distribution of National Finance Commission (NFC) award must be judicious so that sense of deprivation prevailing among the population, particularly those who are less developed, could be redressed with the availability of resources.

By: Staff Reporter
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