In Tuesday's South Asia papers

13 October 2009 05:00  [Source: ICIS news]


Front page

Polling begins in Maharashtra, Haryana and Arunachal
Polling to elect new assemblies in Maharashtra, Haryana and Arunachal Pradesh has begun. Regional bosses like Pawar, Bal Thackeray and Chautala are looking to beat dire predictions.

Infrastructure stocks shining at bourses
The double digit factory output data lifted markets overall. But within sectors, stocks with an ‘infra’ tag attracted investors the most on Monday.


NELP-VIII gets poor response
The government’s eighth round of exploration acreage auction has crashed, with nearly half of the 70 concessions on offer failing to attract any suitor.

Out of 17 industry groups, 14 show positive growth
The IIP had grown by just 1.7% y-o-y last year, which means that the current August figures are being compared with a relatively low base.


Front page

Government auditor says RCOM inflated revenues, but company refutes
The government-appointed auditor Parekh & Company is understood to have revealed that Reliance Communications (RCOM), the flagship company of the R-ADAG group, has inflated the company’s revenues by Rs2,915 crore in 2007-2008 and also evaded licence fee of Rs315 crore.

Salaries of employees may rise 11% next year
Indian companies are projected to reward employees with an average pay hike of 10.9% next year, a survey has found, marking the return of double-digit salary increases and optimism about the future.


Front page

New timings for city offices, banks, schools and colleges
As a way of leapfrogging traffic impasse in the overcrowded capital, the government on Monday announced staggered new timings for the government and semi-government offices, statutory bodies, private offices, banks and other financial outfits, and educational institutions.

Govt to update labour laws, open closed jute mills: PM
Prime Minister Sheikh Hasina on Monday said the existing labour laws of the country would be updated and made time befitting in line with the ILO convention.


ADB provides $76m to support SME-led growth
The Asian Development Bank (ADB) and the government on Monday signed an agreement for a $76m soft loan to help create employment by expanding non-urban small and medium-size enterprises (SME).

DSE shares suffer losses
Most shares at Dhaka Stock Exchange (DSE) suffered losses across the board on Monday amid profit taking from a bullish market.


Front page

Lankan asylum seekers stopped after Rudd intervened
Australian Prime Minister Kevin Rudd told Australian radio today he had spoken to Indonesian president Susilo Bambang Yudhoyono over the weekend over the location of a boat with Sri Lankan asylum seekers before Indonesian authorities intercepted the boat with 260 Lankans on board.

Wariyapola student in ICU dies of Rubella vaccination
A student from Wariyapola who was receiving treatment at the Intensive Care Unit (ICU) of the Kurunegala hospital after being administered the Rubella Vaccination died last night.


SL gets South Asia’s largest per capita remittances
Sri Lanka is home to obtaining the largest per capita remittances in South Asia.

Govt to confiscate assets of un-registered companies
The Government yesterday announced that all assets belonging to companies that are not registered under the new Companies Act No 07 of 2007, will be taken over the by the government from 15th of this month.


Front page

Terror attack in Shangla; 41 dead, 60 injured
At least 41 people, four soldiers and three policemen among them, were killed and 60 others injured when a teenage suicide bomber struck a military vehicle in a crowded market in Alpuri on Monday.

Back-channel efforts to isolate the Baitullah group
The government has started back-channel contacts with Taliban commanders in North Waziristan as part of an attempt to isolate insurgents of the Baitullah group before launching a full-scale military operation in South Waziristan.


KSE-100 index plunges 126 points on panic selling
Stocks on Monday fell across the board on panic selling by all and sundry triggered by reports of terrorist attack on the army General Headquarter (GHQ) and a bomb blast in Shangla taking heavy toll of human lives.

Rules for consumer financing amended
The State Bank of Pakistan has revised rules for consumer financing after amending the Rule 13 of the Prudential Regulations for Consumer Financing.


Front page

Terrorists wanted to take senior officers hostage: ISPR
The main target of terrorists was to take the senior military leaders hostage to get their detained accomplices released, said Major General Athar Abbas, Director General Inter-Services Public Relations (ISPR), here on Monday.

$1bn pledges: Japan says use our taxpayers’ money transparently
After the United States, Japan also pressed Pakistani government to ensure transparent and effective utilisation of its $1bn assistance pledged during the Tokyo conference in April 2008.


BoI to organise ‘CEOs forum’ on 25 October
The Board of Investment is organising CEOs forum in Islamabad on 25 October wherein the Turkish Prime Minister along with 43 CEOs is participating to explore business and investment opportunities in Pakistan.

Al-Shaymaa launches operations in Pakistan
Al-Shaymaa Private Limited, a subsidiary of Al-Shaymaa FZE, a UAE based investment group, has launched its operations in Pakistan.

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