In Thursday's South Asia papers

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

THE TIMES OF INDIA

Front page

India stares at deficit rains
The monsoon is part of India’s problems this year instead of being a solution to its economic woes. The weatherman on Wednesday lowered the prediction for the 2009 monsoon, saying that India would get only 93% of the normal rainfall of 89cm during these months.

Deoband mulls fatwa against French goods
The Islamic seminary of Dar-ul-Uloom Deoband is contemplating a fatwa against buying goods made in France to protest the anti-burqa comments of French president Nicolas Sarkozy.

Business

Kurien’s Kiwi dream gets real
When India gained Independence, it largely relied on New Zealand to meet its milk requirement in cities like Mumbai.

Remove tax anomalies in ULIPs: Council
The Life Insurance Council, an association of 22 life insurers on Wednesday demanded removal of service tax anomalies with regard to Unit Linked Insurance Plans (ULIPs).

THE ECONOMIC TIMES

Front page

Market rally may prove deceptive
The Indian stock market has risen sharply on the back of renewed foreign inflows in recent weeks. The Sensex is up 45% compared to its level in both January and April.

Tata Motors may report net loss for FY-09
According to analysts tracking India’s largest commercial vehicle maker, the consolidated loss for Tata Motors could be Rs300 crore.

THE BANGLADESH TODAY

Front page

Govt to protect national interest as regards Tipaimukh Dam
The Prime Minister and Awami League President Sheikh Hasina on Wednesday said that her government would protect country’s interest in respect of the Tipaimukhi Dam.

73 Cadets pass out of BD Military Academy
A total of 73 Cadets formally passed out of the Bangladesh Military Academy (BMA), at a glittering ceremony at Bhatlary, Chittagong on Wednesday.

Business

Huge black money accumulated during CG rule: Dilip Barua
Industries Minister Dilip Barua said a huge amount of black money accumulated during the tenure of last caretaker government.

Muhith comes down on protestors of allowing black money
Finance Minister AMA Muhith on Wednesday came down on critics who are heavily bitter about budgetary provision for whitening black money saying that many of the critics also took the advantage of similar opportunities in the past.

DAILY MIRROR

Front page

‘Prabhakaran’s surrender could have saved 500 LTTE cadres’
The lives of at least 500 Tiger rebels would have been saved had LTTE Supremo V Prabhakaran surrendered during the last phase of the battle after the army encircled the top rebel leaders in Nandhikadal Lagoon in Mullaitttivu, a defence ministry report said.

Lanka assures India Tamils will return home from camps
Sri Lanka on Wednesday assured India that it would ensure that Tamils, displaced during the military operations against LTTE, return to their homes after their camps are dismantled within six months.

Business

LOLC records fine growth
Lanka Orix Leasing Co PLC(LOLC), the pioneering leasing company in Sri Lanka with a strong track record of business excellence, announced yesterday that group’s gross revenue increased by 86% to Rs9,687m and its profits before tax increased by 5.4% to Rs1,247m, in the financial year 2008/09.

Brighter prospects for Higher education under World Bank
The World Bank has initiated planning for a new project to assist Sri Lanka renew and develop its higher education sector with funding valued at $40m, said Senior Economist and Team Leader of World Bank, Harsha Aturupane at a media briefing held yesterday to discuss the new project.

DAWN

Front page

US Senate approves bill to triple aid to Pakistan
The Senate on Wednesday approved tripling US aid to Pakistan to about $1.5bn a year for each of the next five years, part of an American plan to fight extremism with economic development.

Situation in Fata also to affect Gulf States, warns Gates
US Secretary of Defence Robert Gates has warned Persian Gulf states that they cannot afford to be oblivious to the danger of extremism emanating from Afghanistan and Pakistan.

Business

Govt gives bailout package to energy sector
The ministry of finance issued on Wednesday guarantees worth Rs24bn to the Pakistan Electric Power Co (Pepco) to bail out state-run energy sector entities.

Foreign company acquires major stake in Pioneer
Pioneer Cement Co, the underdog on the cement sector, has long last found acquirers of substantial shareholding in the company.

BUSINESS RECORDER

Front page

Seven terrorists killed, seven apprehended in operation Rah-e-Rast
Seven terrorists were killed and seven were apprehended, while six soldiers including two officers embraced shahadat and three soldiers were injured in Swat and Dir during 24 hours, ISPR press release quoted.

Rehabilitation of sick units: SECP lowers offer size to 62.5% voting shares
The Securities and Exchange Commission of Pakistan has lowered the mandatory offer size from 90% of the voting shares of the ‘Target Company’ to 62.5% for rehabilitation of sick units.

Business

Investment Counsellor in Hong Kong nominated
The Ministry of Investment has nominated Norman Kegler as Honorary Investment Counsellor (HIC) for Pakistan in Hong Kong.

UK’s Ultimate Group keen to invest in Pakistan
The Ultimate Group United Kingdom (UK) expressed keen interest to invest in various sectors of the economy including power generation, coal, motor sports and 4G licensing.

By: Staff Reporter
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