Jan 5: Pictures of the day
Jan 5: Pictures of the day
A couple carry supplies as they walk through floodwaters in Depot Hill in Rockhampton, Queensland.
Australia's record floods are causing catastrophic damage to infrastructure in the state of Queensland and have forced 75 percent of its coal mines, which fuel Asia's steel mills, to grind to a halt, Queensland's premier said on Wednesday.
The worst flooding in decades has affected an area the size of Germany and France, left towns virtual islands in a muddy inland sea, devastated crops, cut major rail and road links to coal ports, slashed exports and forced up world coal prices.
\"Seventy-five per cent of our mines are currently not operating because of this flood, so that's a massive impact on the international markets and the international manufacture of steel,\" Premier Anna Bligh told local television.
The Australian floods, which have cut off 22 towns, have been caused by a \"La Nina\" weather pattern, which produces
A worker fills jerrycans with diesel at a fuel station in Kolkata.
India is trying for no further increase in the domestic price of diesel, Oil Minister Murli Deora said on Wednesday, as the government walks a tightrope between cutting subsidies and tackling public anger over inflation.
Last week, India deferred a ministerial panel meeting to discuss a possible increase in diesel and cooking gas prices.
Oil companies in India can set petrol prices but prices of diesel and cooking fuels continue to be fixed by New Delhi.
Indian oil firms last month month raised petrol prices by 5.6 per cent, but increasing diesel prices could have a broader inflationary impact as farmers and manufacturers pass their higher costs along to consumers.
\"We are trying to see there is no further price increase,\" Deora told reporters.
A labourer unloads vegetables from a truck at a wholesale market in Jammu December.
The government should guard against food inflation spreading to other sectors, C.Rangarajan, Chairman of the Prime Minister's Economic Advisory Council, said on Wednesday.
Rangarajan also said price stability has to become the dominant issue for monetary policy in India.
A passenger aircraft is silhouetted against the setting sun in New Delhi.
Travel operator Cox & Kings Ltd expects to close out acquisitions of travel firms in the U.S. and Europe by the end of this fiscal, a senior official said on Wednesday.
The tour operator is sitting on liquid funds of over Rs 1000 crore predominantly marked for acquisitions, Chief Financial Officer Anil Khandelwal told Reuters.
\"We are looking at large acquisitions which would be transformational in size, which would give a very strong robustness to the existing P&L (income statement),'Khandelwal said.
The firm, the parent of UK-based unlisted Cox and Kings, gets over half its overall revenues from its international operations and is looking at more overseas buys to drive future earnings and growth.
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