In Tuesday's South Asia papers

16 September 2008 06:00  [Source: ICIS news]

THE TIMES OF INDIA

Front Page

Interpol alerted on mastermind Subhan
Thirty two-year-old techie Abdus Subhan Qureshi alias Tauqeer alias Taufiq Bilal, the mastermind behind the Indian Mujahideen (IM) terror module, and the man most wanted after Saturday’s blasts, is still at large despite an alert to nab him.

Women in govt service to get 3 yrs' child care leave
This is one rule that could turn women in India Inc green with envy. The Centre has not only increased maternity leave for its employees to six months but has also cleared paid leave for two years to take care of children.

Business

Lehman CEO's overconfidence may have led to the meltdown
Not long ago, when Lehman Brothers CEO Richard Fuld talked about "everyone's worst nightmare" he was referring to a massive fraud at French bank Societe Generale.

Dow Jones slides 504 points; worst since 9/11
Wall Street had its worst day since markets reopened after the September 11 attacks on Monday as fears about the US financial system's stability surged after Lehman Brothers filed for bankruptcy and insurer AIG struggled for survival.

THE ECONOMIC TIMES

Front Page

Markets seen volatile; global cues weak
Equities are likely to remain volatile on Tuesday a day after the mayhem in global markets on fears of the state of the US financial system after Lehman Brothers filed for bankruptcy, insurer AIG struggled for survival and Merrill Lynch was sold to Bank of America.

Lehman fall may deepen Indian realtors' credit woes
Lehman Brothers’ bankruptcy is likely to cost Indian real estate dear. It may impact the financial major’s existing investments worth $500m in realty firms, including DLF and Unitech, besides drying up another $500m worth of potential investment which was expected to flow into Unitech’s Mumbai projects.

THE BANGLADESH TODAY

Front Page

Hasina in US asks party-men to prepare for JS polls
Awami League President Sheikh Hasina has asked the party leaders and activists to take preparation for the polls to next Jatiya Sangsad (Parliament).

BNP wants discussion on all poll issues with EC
Suffering of the home-bound people ahead of Eid will be more this year as advance tickets of most of the buses have been sold in the black market and passengers are returning from the counters without ticket.

Business

Ceramics sector eyes $100m export
The ceramics industry is eyeing $100m in exports by 2012, the Bangladesh Ceramic Ware Manufacturers' Association chairman says.

People urged to pay income tax
Finance and planning adviser AB Mirza Azizul Islam has called upon the people having taxable income to pay tax being self-motivated to legalize their earnings with a view to making the country economically self-reliant.

DAILY MIRROR

Front Page

India tells Lanka ensure safety of Tamils in North
India yesterday voiced its concern over the plight of civilians caught in the midst of the military offensive against the LTTE in the North and asked the Sri Lankan government to ensure the safety and security of these civilians.

Asgiriya prelate seeks pardon for SB

Mahanayake Thera of the Asgiriya Chapter the Ven. Udugama Sri Buddharakkitha Thera yesterday requested President Mahinda Rajapaksa to grant a presidential pardon to UNP national organizer S.B. Dissanayake who was deprived of his civic rights following a court order.

Business

Development Bonds Over Subscribed
The Central Bank of Sri Lanka has announced that the Sri Lanka Development Bonds (SLDB) which were closed yesterday received the equivalent of $75m in bids where the government opted for $60m worth of two year bonds at the market determined rate of $6/month LIBOR+2.895% (weighted average margin).

‘Avoid short term dollar borrowings’ - Dr. Harsha De Silva
Eminent economist Harsha De Silva yesterday called on the Government to take urgent steps to avoid the obvious dangers of the vicious cycle of high-cost short-term dollar borrowings that is evolving at present; otherwise Sri Lanka will drift into a debt trap sooner than later.

DAWN

Front Page

Protest lodged with India over reduced water flow
Pakistan formally protested to India on Monday over the reduction in Chenab River flows and sought an emergency meeting of the Permanent Indus Commission for explanation of the violation of the 1960 treaty on water sharing.

Diesel prices go up, petrol down
Despite a 35% drop in the international market, the government on Monday raised with immediate effect the prices of high speed diesel, light diesel oil and kerosene by Rs3.5 per litre.

Business

Govt to adopt production-led growth strategy
The popular elected government is finally divorcing the concept of consumption-led growth to shift to production-led growth during the next five years for which the panel of well-known economists of the country did an initial brain storming session on Saturday and Sunday.

SBP sells Rs6.522bn Islamic bonds
The State Bank of Pakistan sold Rs6.522bn worth of Ijara Sukuk (Islamic bonds) in its first auction held here on Monday with primary objective to promote Islamic banking.

BUSINESS RECORDER

Front Page

Asian markets tumble after Lehman collapse
Asian stock markets plunged on Tuesday after the collapse of Lehman Brothers caused a meltdown on Wall Street, with governments holding emergency meetings to stave off a wider financial crisis.

Pentagon denies Pakistan fired on US helicopters
The Pentagon on Monday denied reports that Pakistani troops fired on two US military helicopters after they crossed into Pakistan from Afghanistan and forced them to turn back.

Business

Money and energy saving plan discussed
The government is ready to take harsh steps under a national 'money and energy' saving programme basically worked out for judicious use of indigenous available resources to reduce dependence on loans to a possible level. The programme envisages short and long term measures.

Prime Minister hopes further strengthening ties with Qatar
Prime Minister Syed Yousuf Raza Gilani on Monday expressed the confidence that the cordial bilateral relations between Pakistan and Qatar would further strengthen with the establishment of institutional linkages in multifaceted fields. The Prime Minister was talking to Ambassador of Qatar, Hamad Ali Al-Hanzab, who called on him at the PM's Secretariat.

 

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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