In Friday's South Asia papers

10 July 2009 05:00  [Source: ICIS news]

THE TIMES OF INDIA

Front page

G8 climate talks divide rich and poor countries
The chasm between rich and poor on how to address climate change burst into the open at the G8 summit on Thursday, showing how difficult it will be to persuade the world to make lifestyle and economic sacrifices needed to save the planet from global warming.

China bans mosque prayers in Urumqi
A Chinese official said that mosques in riot-hit Urumqi have been ordered to stay closed for Friday prayers in the wake of ethnic violence that left 156 dead, and another city in Xinjiang province has suspended visits by foreigners.

Business

China arrests four employees of Rio Tinto
The arrest comes within weeks after Rio Tinto turned down a Chinese offer to buy its shares for $20bn.

CAG pulls up BHEL for giving contracts to banned firm
Bharat Heavy Electrical Ltd (BHEL) has been pulled up by the government’s official auditor CAG for awarding contracts to a banned company.

THE ECONOMIC TIMES

Front page

Honchos encash shares during the bull run
Turns out that even seasoned company executives could not resist the huge surge in stock prices that swept the bourses.

In fully loaded flight, Air India stuffed in three extra persons
The excess passengers were discovered in a probe into the aircraft’s door falling apart when it started moving while attached to an aerobridge.

THE BANGLADESH TODAY

Front page

Scrapping of Sircar’s JS membership suggested
The Parliamentary Investigation Committee, which probed the alleged corruptions and misuse of power committed by former Speaker, Deputy Speaker and Chief Whip, on Thursday suggested scrapping of membership of the 9th parliament of Barrister Jamiruddin Sircar and legal actions against him for his transgression.

PM asks for preparation to tackle possible floods
Prime Minister Sheikh Hasina on Thursday directed Food and Disaster Management Ministry and all other authorities concerned to take necessary advance preparation to deal with any possible flood in the country in the current monsoon.

Business

Lankan govt expenditure soars, revenue drops
The government treasury recorded a net cash outflow of Rs117.4bn ($1.022bn) for the first five months of the year against an estimated outflow of Rs5.4bn.

Investors bet on quick deal in UBS tax
Investors bet on Thursday the United States would not go as far seizing UBS assets in a dispute over tax, instead expecting the Swiss bank to be hit by a hefty fine as part of a swift out-of-court settlement.

DAILY MIRROR

Front page

Five Sri Lankans in Oslo sentenced over sword attack
Five Sri Lankans who were involved in a terrifying attack in Norway using Samurai swords were sentenced on Thursday to between 11 and 14 years, a Norwegian news website reported.

Over 300 injured in China quake
More than 300 people were injured when a strong earthquake measuring 6.0 on the Richter scale jolted the Yunnan province in southwest China, officials said.

Business

Investors need stable economy
The Colombo Stock Exchange (CSE) is expected to see foreign investor activity pick up in the medium to long term with a boost on the domestic investors should the stability in the economy be sustained at current levels.

HSBC named Best Global Bank by Euromoney magazine
HSBC yesterday announced it has been named Best Global Bank by Euromoney magazine in its Awards for Excellence 2009.

DAWN

Front page

Carbon surcharge a mistake, govt admits in court
The government’s top lawyer conceded before the Supreme Court on Thursday that the levy of carbon surcharge was a mistake.

Top Nato official stresses respect for sovereignty
Admiral Giampaolo Di Paola, Chairman of Nato’s Military Committee, said on Thursday that Pakistan’s sovereignty must be respected and military operations in its territory should be carried out by its own forces.

Business

Government re-imposes Petroleum Development levy
Pakistani President Asif Ali Zardari ordered the reintroduction of a petroleum levy on Thursday, to make up for revenue lost when a court order forced the government to abandon a separate new carbon tax a day before.

Foreigners turn buyers after 15 months
The month of June saw foreign investors picking up more of Pakistani stocks than dumping them.

BUSINESS RECORDER

Front page

Nato not to conquer Afghanistan: Admiral Giampaolo
Chairman Nato Military Committee Admiral Giampaolo Di Paola here on Thursday said that Nato forces in Afghanistan are not there to conquer the country.

Serious disagreement between executive, judiciary over hike: POL products’ prices raised again through Presidential Ordinance
The President of Pakistan has promulgated Petroleum Development Levy (Amendment) Ordinance-2009 by substituting the words "carbon surcharge" the words "petroleum levy" and it shall come into force at once.

Business

Pakistan’s foreign exchange reserves stand at $12.26bn
The total liquid foreign exchange reserves held by the country stood at $12,269.8m on the week ended 4 July, 2009.

Slowing June inflation bodes a rate cut ahead
Inflation, as measured by CPI index, tapered to its 16-month low of 13.1% in June - continuing its slide from the peak of 25% marked in October 2008, data released by Federal Bureau of Statistics revealed on Thursday.

By: Staff Reporter
+44 20 8652 3214

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