 "RBI shock reverberates through newspapers")
This morning’s newspapers are dominated by the RBI decision to increase interest rates by 50 basis points yesterday; a move that caught markets by surprise. Almost all of the coverage across the board points to the fact that personal loans will get dearer, while there is some doubt on whether the move will actually contain inflation in addition to affecting growth.
Apart from the RBI move, all the major English newspapers also carry pictures of the young and beautiful Pakistani foreign minister Hina Khar Rabbani. However some of the sheen from the visit of the glamorous Ms Rabbani wore off yesterday after news that she had met with Hurriyat leaders in Kashmir. Today it is most probable that style will take a back seat to substance.
Finally the aggressive court room actions of former telecom minister A. Raja also feature prominently. In his defence yesterday, Raja called the Comptroller Auditor General “legally illiterate” and said his imprisonment was ‘illegal detention’.
Listen now:
 "Pakistan set to hold presidential elections on 9 March; Asif Ali Zardari frontrunner")
 "Is India losing out to Pakistan in basmati rice war?")
 "Pakistan's newly-elected National Assembly begins maiden session")
 "China rolls over $2 billion loan to Pakistan, extends repayment period by 1 year")
 "Pakistan set to hold presidential elections on 9 March; Asif Ali Zardari frontrunner")
 "Is India losing out to Pakistan in basmati rice war?")
 "Pakistan's newly-elected National Assembly begins maiden session")
 "China rolls over $2 billion loan to Pakistan, extends repayment period by 1 year")