Category: South Asia

NEW DELHI, November 14, 2010 (AFP) – Evidence of India’s construction boom can be seen in the new high-rise apartments sprouting up across the country, but the industry is suffering from a serious shortage of engineers and designers. “Until things change, we might manage some big-ticket items like the Delhi Metro with the help of […]

DHAKA, November 8, 2010 (AFP) – Bangladesh will offload stakes in dozens of state-owned enterprises as part of a major government effort to cool down the country’s overheated stock exchange, its finance minister said Monday. Eight state-owned firms, including major energy and power firms, which are already listed will be made to sell more shares, […]

Nov 08, 2010 (LBO) – Adaaran Prestige Water Villas, a resort in the Indian Ocean Island of Maldives, run by Sri Lanka’s Aitken Spence group won the award of the World’s Leading Watervilla at a top travel awards. Maldives also won the award for the ‘Most Romantic Destination’ at the awards on November 07. The […]

MUMBAI, November 7, 2010 (AFP) – The success of India’s 3. 4-billion-dollar sale of shares in state-run Coal India has raised hopes of big returns for the government from a cascade of looming partial privatisations, analysts say. The sale of a 10 percent stake in Coal India was oversubscribed 15 times and shares soared 40 […]

MUMBAI, November 6, 2010 (AFP) – President Barack Obama announced Saturday 10 billion dollars in trade deals with India to create 50,000 US jobs, on a visit that began with an emotional tribute to victims of the 2008 Mumbai attacks. Kicking off a four-nation Asian tour weighted towards prying open new markets for US goods, […]

October 30, 2010 (AFP) – The Maldivian government has apologised to a European couple abused as “swine” and “infidels” during what was supposed to be a romantic renewal of wedding vows in the Indian Ocean archipelago. Maldivian President Mohamed Nasheed “personally apologised” to the couple in a telephone conversation on Saturday afternoon, his office said […]

Oct 29, 2010 (LBO) – Maldives Islands will issue ‘strict guidelines’ on tourist weddings following an incident where resort staff mocked a foreign couple who were renewing their wedding wows at a beach ceremony. Maldives’ President Mohamed Nasheed had expressed disgust at the incident in a radio address and described the behaviour of those involved […]

NEW DELHI, October 28, 2010 (AFP) – Asia’s largest prison, Delhi’s Tihar Jail, has taken its first step into online retailing, offering goods over the Internet made by inmates including murderers and kidnappers. Tihar, notorious for its overcrowding and tough criminals, is home to a bakery which produces 13 kinds of biscuits and a vast […]

NEW DELHI, October 26, 2010 (AFP) – Arms-hungry India is expected to hand out a raft of military deals worth billions of dollars during an upcoming rush of presidential visits from the United States, France and Russia. The biggest-ticket item is the scheduled signing of an estimated 30 billion-dollar stealth fighter co-production agreement when Russian […]

NEW DELHI, October 24, 2010 (AFP) – India’s biggest lender to the poor, SKS Microfinance, was the toast of investors when it staged a hugely successful public share offer three months ago. Now SKS, India’s only listed microfinancier, faces an unwelcome spotlight as it and other small-scale lenders come under scrutiny over high interest rates, […]

October 24, 2010 (AFP) – Pakistan President Asif Ali Zardari will visit Sri Lanka next month in a bid to boost trade and security cooperation, an official said Sunday. Zardari will be accompanied by foreign minister Shah Mehmood Qureshi and a group of Pakistani businessmen, a foreign ministry official said. “The two days of meetings […]

MUMBAI, October 20, 2010 (AFP) – India’s 3. 5-billion-dollar sale of shares in state-run Coal India was doubly oversubscribed a day ahead of the close of the country’s biggest ever stock offer, stock exchange figures showed Wednesday. Bids had been received for 1.29 billion shares — 2.05 times the number up for grabs. Coal India’s […]