In Tuesday's South Asia papers

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

THE TIMES OF INDIA

Front page

Monsoon fading: El Nino may hit UPA growth curve
The risk of a failed monsoon has risen manifold with the World Meteorological Organisation warning of a "substantially elevated risk" of this being an El Nino year.

Karat’s dual rule: Ban VHP but not Maoists
Centre and the CPM are pulling apart on how to tackle the Maoist challenge with the Marxists strongly opposing the ban Union home ministry on Monday slapped on CPI (Maoist) in a major policy rift which could undermine New Delhi’s plan for an armed offensive against the Red extremists.

Business

Air India set to cut wages, stir looms
The fate of passengers scheduled to fly Air India 1 July onwards seems as uncertain as that of the airline itself. On Monday, the cash-strapped national carrier announced wage cuts to reduce its annual salary bill of Rs3,100 crore for more than 31,000 employees by Rs500 crore.

Texmaco puts restructuring plans on hold
K K Birla Group has put on hold the much talked about restructuring of engineering flagship Texmaco and instead decided to raise resources directly for the company.

THE ECONOMIC TIMES

Front page

Cautious but few willing to go short before Budget
At least seven out of 10 people on Dalal Street are bearish/neutral on the market. The general perception is that valuations have become pricey, and those with high expectations from the Budget will be in for a major disappointment.

Vineet Nayyar tipped to be Vice Chairman of Satyam
Sanjay Kalra will take charge as the CEO of Tech Mahindra and CP Gurrnani will be the new CEO of Satyam.

THE BANGLADESH TODAY

Front page

Indian HC’s contention challenged by Bangladeshi water expert
Tauhidul Anwar Khan, a veteran water expert of the country and former executive member of Joint Rivers Commission and DG of Water Resources Planning Organisation, has contested and rebuffed Indian High Commissioner Pinak Ranjan Chakravarty’s contention on Ganges water sharing and construction of Tipaimukh dam as well as derogatory remarks about Bangladeshi water experts.

One dies as two trains collide at Kamalapur
Railway security guard Nahid Hossain died in hospital after being injured during a head-on collision at Kamalapur Station between the Mahanagar Probhati Intercity and the Isha Kha Express on Monday.

Business

President for increasing trade relations with Sri Lanka
President Zillur Rahman on Monday underscored the need for further strengthening trade and commence relations between Bangladesh and Sri Lanka through exchanging high level visits to increase export-import volume.

No black money, only legally earned ‘undeclared money’ can be allowed: Annisul
President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Annisul Huq on Monday reaffirmed their position against black money saying that only the legally earned ‘undeclared money’ can be allowed into investment.

DAILY MIRROR

Front page

France condemns Sri Lanka arrests of UN personnel
France, a permanent member of the UN Security Council, condemned on Monday the reported arrest of two staff members of the United Nations working in Sri Lanka who were detained by security authorities.

Sri Lanka too strong for India
Three-time champions Sri Lanka chalked up the biggest win in the Asian netball tournament thus far, whipping India 103-27 to qualify for the semi-finals from Group B at the Juara Stadium in Bukit Kiara here yesterday.

Business

Cairn to start 3D seismic study in December
Cairn Lanka Limited, the company which signed the Petroleum Resources Agreement (PRA) with the government of Sri Lanka to explore oil and natural gas in the Mannar Basin last year, said that the company would commence work on 3D deep and ultra deep sea seismic studies, from December 2009 to April 2010.

SL universities ties up with Microsoft Live@edu for no-charge suite
Microsoft announced yesterday that momentum continues worldwide for Microsoft Live@edu, where several new universities including Sri Lankan universities, have signed on for the no-charge suite of communication and collaboration tools for students, faculty, staff and alumni.

DAWN

Front page

Stop dancing with dictators, Zardari tells US
In an unusually harsh article published in The Washington Post on Monday, President Asif Ali Zardari blamed the United States for the present mess in Pakistan, claiming that Washington used his country as a ‘blunt instrument of the Cold War’.

Baitullah rival Qari Zainuddin shot dead in DI Khan
A gunman shot dead on Tuesday a militant commander who was a rival to Pakistani Taliban leader Baitullah Mehsud, police said.

Business

Govt announces changes in new budget
The government on Monday announced a series of changes in the new budget in the National Assembly, increasing an ad hoc allowance for low-paid government employees to 20% from 15% and providing relief to importers, exporters and the print media.

‘Urea distribution dictated by Wattoos’
Politicians, especially the Wattoos from Depalpur, seem to have dictated the distribution of imported urea, if the internal monitoring reports of the National Fertiliser Marketing (NFML) are anything to go by.

BUSINESS RECORDER

Front page

Government announces relief measures
The government on Monday announced a major relief to exporters by declaring income tax collected on export proceeds as final discharge of liability, reduced withholding tax from 4 to 3% for industrial importers, abolished ‘Carbon Surcharge’ on CNG, replaced 16% sales tax on import of newsprint with 5% customs duty and abolished 20 paisa Federal Excise Duty (FED) on SMS with increase in FED from 19 to 19.5% on services provided by cellular companies.

Classified advertisements exempted from FED
The print media advertising excluding classified advertisements would be liable to federal excise duty in VAT mode.

Business

Diplomats’ role in bringing foreign investment underlined
Pakistani diplomats abroad, especially commercial counsellors, can play vital role in image-building of the country and help bring more foreign investment in different potential sectors, said Chairman of Sindh Board of Investment (BoI) Zubair Motiwala here on Monday.

All cut motions withdrawn to pave way for passage of NWFP budget
The NWFP assembly on Monday set a new precedent of guillotining all cut motions in a row to approve all demands for grants required for departments needed for expenditure during the 2009-2010 financial year.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.