In Thursday's South Asia papers

08 January 2009 05:00  [Source: ICIS news]

THE TIMES OF INDIA

Front page

Satyam: A Rs 7,000 crore lie
Satyam means truth. Yet, Ramalinga Raju, head of the Hyderabad-based firm, was lying for years, building up to India's largest-ever corporate fraud.

Finally, Pakistan admits Kasab is a Pakistani
Pakistan information minister Sherry Rehman said captured Mumbai attack terrorist Kasab has links to Pakistan after media reported he was a Pakistani.

Business

IIFCL to float Rs 10,000 cr tax free bonds
India Infrastructure Finance Company Ltd is likely to float the first tranche of Rs 10,000 crore of tax free bonds by the first week of February. 

DMRC chief warned of scam in Hyderabad Metro last year
DMRC managing director E Sreedharan had to face the ire of Planning Commission when he first suggested that the family was up to something fishy.

THE ECONOMIC TIMES

Front page

Govt, regulators plan joint action on Satyam
A stunned India Inc, rattled investors and the government were left to pick through the debris to salvage what is left of Satyam Computer Services after its founder and chairman admitted to committing the country’s biggest financial fraud.

Satyam saga: Institutional investors caught unawares
Institutional investors have always admitted that Satyam's corporate governance practices were not the best in the industry, but never in their wildest imaginations did they think that it would leave all of them red in the face some day.

THE BANGLADESH TODAY

Front page

New govt begins journey
Prime Minister Sheikh Hasina and the members of her cabinet assumed office on Wednesday after placing wreath at National Mausoleum marking the beginning of the functioning of her elected democratic government replacing the two-year emergency government.

Hasina begins office as PM
At the end of a two-year army-backed Caretaker Government regime, Awami League President Sheikh Hasina started her office as the Prime Minister of Bangladesh for the second time on Wednesday.

Business

Global crisis hits Asia’s scavengers
Zheng Jie Wo, 76, cuts a diminutive figure as she hunches over bags of waste paper, used plastic bags and discarded boxes. She stands out among the white-collar crowd in Singapore's business district, sifting through recycleable rubbish that she spent the previous night scavenging in order to sell.

DAILY MIRROR

Front page

Excise BSO Earns Rs.18mn as Govt. Revenue 
The Excise Department Bureau of Special Operations earned over Rs.18mn as government revenue through fines imposed on 2311 suspects countrywide over various related offences throughout year 2008, the Excise Department said.

Minor blast in Mt. Lavinia 
A blast has occurred along the railway track in Mount Lavinia. According to police no casualties were reported, the track had sustained minor damages.

Business

SL bond market open to Lankan diaspora, migrant workforce
The Government has decided to open the Rupee denominated Treasury bill and Treasury bond market for the Sri Lankan Diaspora and Migrant Workforce with effect from January 6.

Injustice: A threat to justice everywhere
The most arbitrary and unfair purported suspension of the democratically elected Divisional Council of the CIMA Sri Lanka Division, by the CIMA Council in London, has no doubt come as a rude shock to the accounting fraternity and business community of Sri Lanka.

DAWN

Front page

Ajmal’s nationality confirmed
Pakistani authorities, during the course of their own investigations into the Mumbai carnage, have established that the only surviving terrorist Ajmal Kasab is a Pakistani national.

Indiscretion cost Durrani his job
Prime Minister Yousuf Raza Gilani on Wednesday summarily dismissed his National Security Adviser Major General (retd) Mehmud Ali Durrani for being a bit too candid on the tricky issue of Mumbai carnage suspect Ajmal Kasab, “without having taken me into confidence”.

Business

FBR misses first half year revenue target
The FBR has missed the first half year revenue target of Rs580bn by a wide margin of Rs36.7bn.

Dubai may tighten property market rules
Dubai is mulling tightening rules on the property market in the Gulf financial hub after many developers shelved projects because of the global financial crisis, a newspaper reported on Wednesday.

BUSINESS RECORDER

Front page

Pakistan admits Ajmal Kasab’s nationality
Minister of Information and Broadcasting, Sherry Rehman on Wednesday said an investigation has revealed that the lone surviving Mumbai gunman is a Pakistani citizen, as India has alleged.

WHT on luxury goods may be raised to 6%
The Federal Board of Revenue may raise withholding tax (WHT) from 2% to 5-6% on the import of non-essential goods and luxury items to generate additional revenue in the remaining months of the current fiscal year.

Business

British MPs express confidence over Pakistan's investment policy
British Parliamentarians on Tuesday expressed confidence over Pak investment policy and assured their full support in gaining the confidence of foreign investors.

Rapid development is mission of present government: Rana
Punjab Minister for Law Rana Sana Ullah Khan has said that rapid development of the province was a mission of present Government under the dynamic leadership of Chief Minister Shehbaz Sharif

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
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