Mumbai-Central.comWhere Mumbaikars meet |
Wholesale prices-based inflation rose to 6.09 per cent for the week ended April 7 from 5.74 per cent for the week ended March 31. The rate has stayed above six per cent, higher than Reserve Bank's tolerance level, for the past two months.
The unexpected rise in inflation would mount pressure on RBI to either increase interest rates or take some other step for moderating money supply in its annual monetary policy on April 24, analysts said.
"I think RBI will again take measures to tighten liquidity. But it is difficult to predict which instruments they are going to touch. It may be another rate hike or some sort of tightening on External Commercial Borrowing," Crisil principal economist D K Joshi said.
But Finance Minister P Chidambaram expected inflation would again come down to around 5.7 per cent next week.
"To contain inflation remains a very high priority... and my expectation is it will hover around 5.7 per cent next week," Chidambaram told reporters here.
Controlling inflation will indeed be a priority for the UPA Government, particularly since assembly elections in Uttar Pradesh are going on. Price rise was blamed for the Congress' loss in assembly polls in Punjab and Uttarakhand.
Besides vegetables, indices, which reflect price changes, of all broad categories rose, be it primary articles, power, fuel, non-primary articles, light and manufactured products. PTI
Parimarjan holds Kotronias
By Our Chess Correspondent
Malmo (Sweden), Apr 20 (PTI) World's youngest Grandmaster Parimarjan Negi continued with his fine run and held higher rated GM Vasilios Kotronias of Greece to a draw in the second round of 15th Sigeman and Co. International Chess tournament.
After defeating GM Jonny Hector in the opener of this category-13 event, Parimarjan had to work hard to get a half point against Kotronias and the Indian remained in joint lead on 1.5 points.
Top seed GM Ivan Cheparinov of Bulgaria, GM Tiger Hillarp Persson of Sweden, Kotronias and Parimarjan now share the lead in the 10-players double round robin tournament while Hector, defending champion Jan Timman of Holland and Emanuel Berg of Sweden stand joint fifth on one point each.
Another half point adrift is Swede Pontus Carlsson and Dutch Erwin L'Ami while Emil Hermansson is now at the bottom of the tables, yet to open his account.
Parimarjan was a class act once again after he got in to difficulties. Kotronias opted for the Classical Sicilian that Parimarjan had expected in his preparation, and the side variation netted the Greek an easy game.
"He got a dynamically balanced position and I think I did not play correctly in the middle game", Parimarjan said soon after the game.
As it happened, Kotronias' rooks got an entry in to enemy camp but just while they were about to become threatening, Parimarjan created a counter play that resulted in a series of exchanges. The resulting position was one pawn less for Parimarjan but he hung in again creating problems for his opponent and the peace was signed after 53 moves. PTI
Lara announces retirement, plays last match tomorrow
Ashish Shukla
Bridgetown (Barbados), Apr 20 (PTI) After tormenting bowlers worldwide for about 17 years, Brian Lara has announced retirement from international cricket, stunning the cricketing world which expected the batting genius to carry on his Test career for some more time.
The West Indies captain, who turns 38 on May 2 and is regarded as one of the all-time greats, announced that tomorrow's Super Eight match against England at Kensington Oval would be his swansong appearance.
"...I want everyone to know that on Saturday I'm going to bid farewell to all international cricket as a player," Lara said after leading his side to their lone Super Eight win in the World Cup against Bangladesh yesterday, The elegant left-hander, who made his debut in 1990, has played 298 one-day internationals, scoring 10,387 runs at an average of 40.57 that include 19 centuries with his highest score being 169.
His records are even more impressive in the longer version of the game. Lara played 131 Tests, scoring 11,953 runs at an average of 52.88 with 34 centuries against his name, just one short of Sachin Tendulkar's 35.
Lara also holds the world record Test score of 400 not out and also the highest first class score of 501 not out.
Lara's decision came as a shock for most because at the start of the World Cup, Lara himself had said that he would like to stretch his Test career to the age of 40 and beyond.
"I'm only 37. A lot of players go on to play till their 40s. There's a lot of work to do to get West Indies cricket back on track," he had said. PTI
Controlling inflation top priority: FM
New Delhi, Apr 20 (PTI) Finance Minister P Chidambaram today said containing inflation, which has again risen to cross six per cent, is high on the government's priority and expected it will come down to around 5.7 per cent next week.
"To contain inflation remains a very high priority... And my expectation is it will hover around 5.7 per cent next week," Chidambaram told reporters here.
However, moderation in inflation would depend on wheat arrival in the market, which has been delayed by 10 days.
Agriculture Minister Sharad Pawar had earlier said wheat arrival was delayed because farmers have shifted to a new strategy by manually separating straw from wheat, instead of using machines, to maximise their earnings. Straw prices have risen considerably due to demand for cattle feed.
Meanwhile, Finance Ministry sources said there was some "glitch" in the inflation figure released today. The figure may be revised downward as they were provisional estimates, they said.
An official statement today said wholesale prices-based inflation rose to 6.09 per cent for the first week of the current fiscal against 5.74 per cent in the previous week.
Chidambaram also said forecast of monsoon was "good". The Meteorological Department has estimated rainfall during the south-west monsoon season this year would be five per cent less than average. PTI
Trade unions stick to demand on removing bonus limit
New Delhi, Apr 20 (PTI) Attempts to iron out differences on bonus ceiling for workers in private firms may face difficulties with trade unions unwilling to relent on their demand for abolishing the limit.
While trade unions have been demanding abolishing or hiking the ceilings, the Labour Ministry feels that any fresh demand to further enhance the eligibility and calculation ceilings, as already agreed to at the last Indian Labour Conference (ILC) might further delay its implementation by at least two years, sources said.
The issue of revision of eligibility ceiling for payment of bonus is, therefore, likely to figure prominently at the forthcoming session of the ILC here next week.
The Second National Commission on Labour recommended that the eligibility limit should be increased to Rs 7,500 per month from the existing Rs 3,500 per month while the calculation ceiling should be hiked to Rs 3,500 per month from Rs 2,500 at present.
Seized of the matter, the Ministry elicited views of all stakeholders and comments on the financial implications on account of proposed hike in the eligibility ceiling.
While employers were of the view that payment of bonus be linked strictly to profits so that loss-making establishments should not be made to pay bonus, employees unions demanded abolishing of the ceilings altogether.
Unable to arrive at a decision, the Labour Ministry sent a proposal to the Finance Ministry, which suggested necessary action for amending the Bonus Act to hike the ceilings.
As consultations with all the stakeholders being over, the proposal is under consideration of the Ministry, they said. PTI
Over 100 commitments on global issues fulfilled: Clinton
New York, Apr 20 (PTI) More than 100 commitments out of 570 pledged under the Clinton Global Initiative to help alleviate problems such as poverty and climate change have been completed in just two years, former US President Bill Clinton has announced.
"The number of completed commitments so far is an indication of the power of this model of philanthropy. It is also a testament to the hard work of hundreds of people and the scope of what they've been able to accomplish in only two years' time is stunning," Clinton yesterday said at the mid-year review meeting of the foundation.
He termed the Clinton Global Initiative as a catalyst for action that seeks to have a measurable impact on the lives of people around the world.
Clinton announced that the foundation was also adding education this year to its exiting focus areas.
He stressed that education is the basic right of all people no matter where they live.
"It is one of the chief factors that contribute to the ability of our children to succeed in a global, 21st century economy and lead productive, meaningful lives, so we need to work to bridge the global education divide," he said.
The annual meeting is held in September to coincide with the annual session of the United Nations General Assembly session where commitments are made and those who do not fulfill them are not allowed in the subsequent meetings.
Of the 570 commitments made to date, 215 commitments were made at the 2006 conference alone and an additional 86 have been registered since CGI's last annual meeting.
As many as 221 commitments have been made by non-profit organisations, 118 by corporations, 108 by foundations, 79 by individuals and the rest other entities.PTI
Lot of ground covered for agreement on Kashmir: Kasuri
Islamabad, April 20 (PTI) Pakistan and India are moving towards the settlement of the Kashmir issue that might not be the first choice for all the three parties, including the Kashmiris, Foreign Minister Khurshid M Kasuri has claimed.
"The two countries are moving towards a settlement of the Kashmir issue that might not be the first best choice for all the three parties (India, Pakistan and Kasmiris) but it could be the second best," he was was quoted as saying by Pakistan daily 'The Nation' today.
"Lot of ground has been covered for an agreement on Kashmir and some areas of differences are being sorted out," he said adding certain steps are needed to create a conducive environment so that the two governments could sell the "package to the people of Pakistan, India and Kashmir".
He, however, expressed his inability to give the exact details owing to sensitivity of the matter.
The Kashmir package, once finalised, would be presented before the Pakistani parliament for approval. However, if it was not approved by the parliament it would not be acceptable to Pakistan, he said.
The Pakistan Foreign Minister also said that the progress made on the Kashmir package was irreversible and it did not matter whether the Musharraf government in Pakistan and that of Congress in India remained in power or not.
When asked about the likely time-frame for the settlement of Kashmir issue, the Pakistan Foreign Minister said the progress made so far was beyond the imagination.
"It also depends on the internal situation in the two countries as it is going to be an election year in Pakistan whereas in India polls are being held in some of the states," he added. PTI
___________________________________________________________
This is the Mumbai Grapevine
___________________________________________________________
To get regularly updated NIFTY (NSE) quotes by email, join the NSEData mailing list by sending an email to NSEData-subscribe@yahoogroups.com To get regularly updated BSE quotes by email, join the BSEData mailing list by sending an email to BSEData-subscribe@yahoogroups.comSensex: 13897.41, +277.71
___________________________________________________________
This is the Mumbai Grapevine
___________________________________________________________
1 U.S. $ = INR 1 Japanese Yen = INR 1 British Pound = INR 1 Canadian $ = INR 1 Singapore $ = INR 1 UAE Dirham = INR 1 Saudi Arabian Riyal = INR 1 Euro = INR 1 Qatar Rial = INR
___________________________________________________________
This is the Mumbai Grapevine
___________________________________________________________
You can join/leave this newsletter through the form at
Use the the form below to subscribe or unsubscribe to the list.
|
Site directory
|
Today's news
|
Film reviews
|
likhaai
|
nukkad
|
Stocks
|
Discussion boards
|
Photos
|
Puzzles
Restaurant Guide | Train Guide | Bus Guide | Mumbai Information | Image Galleries About us | Advertise here! | Feedback Donate Sponsored Link: Are There Lucky Planets In Your Astrological Marriage House? | Articles on travel and USA-specific tips |
|
|
Get notified about site updates To get updates about the Mumbai-Central.com site via email (only 1-2 messages per month), sign up! |
|