Category: South Asia

MUMBAI, October 6, 2008 (AFP) – India’s central bank injected liquidity into the financial system by cutting the amount of cash commercial banks must hold in reserve, citing “a sharp deterioration” in the world financial situation. After a day of market turmoil in which Indian stocks plunged nearly six percent, the bank lowered the cash […]

Oct 06, 2008 (LBO) – The tourist paradise of Maldives will hold its first multi-party poll on Wednesday in what is seen as a litmus test on Asia’s longest serving ruler and his commitment to democratic reforms.Around 209,000 people across some 200 inhabited islands will cast their ballot to elect a president for a five-year […]

KATHMANDU, October 6, 2008 (AFP) – Nepal’s Maoist president has endorsed the choice of a three-year-old girl to be worshipped as a goddess, officials said Monday, upholding an age-old tradition despite his government’s atheist stance. The selection of the child goddess, or Royal Kumari, had for centuries required the approval of Nepal’s kings, but the […]

MUMBAI, September 26, 2008 (AFP) – India is minting new millionaires at a faster pace than anywhere else in the world, buoyed by a fast-growing economy, according to a new study. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 There were an estimated 123,000 millionaires in India […]

ISLAMABAD, September 20, 2008 (AFP) – Many people are trapped inside the hotel in the Pakistan capital Islamabad after a massive bombing at the site Saturday killed at least 27 people, police said.At least 20 bodies could be seen at the Marriott Hotel in Islamabad following the large bomb blast, an AFP photographer said. The […]

ISLAMABAD, September 20, 2008 (AFP) – At least 27 people were killed in a massive car bombing at the Marriott Hotel in the Pakistan capital Islamabad on Saturday and many people are trapped inside the burning building, police said. Flames were seen shooting out of the hotel, a key meeting place for foreigners and one […]

WASHINGTON, September 16, 2008 (AFP) – The US Food and Drug Administration Tuesday said it would block the import of more than 30 generic drugs made by Indian pharmaceutical company Ranbaxy, saying the company had failed to meet manufacturing standards. Due to extensive violations of US requirements, the FDA issued the import alert for drugs […]

Sept 13, 2008 (LBO) – The Maldives can maintain its dollar peg despite a steep rise in inflation if budgets improve and the island’s newly re-constituted monetary authority does not print money to finance fiscal deficits, the International Monetary Fund (IMF) has said.–break— Inflation was projected at 15 percent for 2008 up from 7.4 percent, […]

NEW DELHI, September 13, 2008 (AFP) – Three people were killed as a series of blasts hit the Indian capital New Delhi on Saturday, television reports said. India’s Star News network said the three died in an explosion in the central Connaught Place district.Another Indian television network CNN-IBN also reported three people had died. Police […]

MIRANSHAH, September 12, 2008 (AFP) – A missile from a suspected US drone killed 12 people Friday in a Pakistani tribal area where US forces have been aggressively targeting Al-Qaeda militants — fuelling anger from its key “war on terror” ally. The missile hit a house on the outskirts of Miranshah, the main town in […]

KABUL, September 8, 2008 (AFP) – An Afghan archaeologist has discovered the remains of an ancient 19-metre-long (62-foot) “sleeping Buddha” in central Afghanistan’s Bamiyan a government official said Monday.Bamiyan, about 140 kilometres (90 miles) northwest of Kabul, is on the ancient Silk Route between Europe and Central Asia. A team led by Zameryalai Tarzi had […]

ISLAMABAD, September 9, 2008 (AFP) – Asif Ali Zardari became Pakistan’s president Tuesday and faced immediate pressure to combat the Islamic militant insurgency that has engulfed the nation in the past year, as well as a struggling economy.Zardari, the controversial 53-year-old widower of slain opposition leader Benazir Bhutto, was sworn in at a closely-guarded ceremony […]