September 23: News Pics for the Day
September 23: News Pics for the Day
A cook prepares local cuisine, Pav Bhaji, at a beachside restaurant in Mumbai
India's food price index rose 15.46 per cent while the fuel price index climbed 11.48 per cent in the year to September 11, government data on Thursday showed.
In the prior week, annual food and fuel inflation stood at 15.10 per cent and 11.48 per cent, respectively.
The primary articles index was up 16.80 per cent in the latest week compared with an annual rise of 16.22 per cent in the previous week, which was the first reading of a new series of data with a different base year of 2004-05, new components and weightings.
The wholesale price index , the most widely watched gauge of prices in India, rose 8.5 per cent in August.
PepsiCo Chairman and Chief Executive Officer Indra Nooyi speaks to reporters during PepsiCo's 2010 Investor Meeting event in New York
Indra Nooyi has a clear message for her homeland of India - improve your infrastructure, work force and sanitation, attract more foreign investment, and develop faster.
At a panel discussion on Tuesday evening hosted by the Yale-India Initiative, Nooyi said it was tough for her to talk about India, since she has "one foot there and one foot here."
She called India a "must-invest" market, citing its demographics, ample work force and pace of innovation.
"We see a growth market for the next 50 years at least," said Nooyi, the highest-ranking Indian-born woman in corporate America.
Still, Nooyi said she wanted to talk about India constructively in terms of what can be done better, "so you can attract more investment and India itself can develop faster."
The biggest obstacle is infrast
An aeroplane prepares to land at an airport in New Delhi
The International Air Transport Association expects Indian airline companies to post combined loss of $400 million in 2010, Chief Executive Giovanni Bisignani said on Wednesday.
The Geneva-based trade body, which represents about 80 per cent of world carriers, had said on Tuesday global airlines have sharply raised their forecast for industry profits this year as recession fades -- but new capacity could cut profits as soon as 2011.
A Kingfisher Airlines Airbus passenger aircraft prepares to take-off at Mumbai airport
Kingfisher Airlines does not have any "overdues" to oil marketing companies (OMCs), Chairman Vijay Mallya said on Thursday.
"We have given them (oil marketing companies) a lot of money," Mallya told reporters on the sidelines of an industry conference.
"So we do not have any overdues," he said, without elaborating further.
He also said all fund raising plans, including for an issue of gross depository receipts, were on track, but did not give more details.
On August 31, the second-largest Indian private-sector carrier said its board approved raising up to $1 billion to pare high debt.
Kingfisher, which operates around 380 flights a day, has about $1.5 billion of outstanding debt, analysts estimate.
The airline is controlled by United Breweries Holdings Ltd.
A woman touches a gold necklace at a jewellery store in Allahabad
Gold was firm on Thursday, underpinned by a soft dollar and expectations of further monetary easing in the United States, which traders said was likely to propel the metal to new all-time highs above $1,300.
"Gold's momentum is slowing but it will grind higher towards $1,300 and beyond," a Swiss trader said. "Unemployment is rising in the US, so they have to open the gates for quantitative easing. The dollar collapsed a bit and this has underpinned gold," he added.
The dollar has hovered around six-month lows against a basket of currencies, with liquidity drained due to holidays in much of Asia. A weaker dollar makes gold cheaper for holders of other currencies.
Labourers pull a hand cart loaded with bricks and sacks of sand in front of boards advertising the Commonwealth Games in New Delhi
The CWG debacle shows the risk of such high profile sporting events -- there are limited benefits if you get it right but a vast investment and political downside if it all goes wrong.
Indian officials would have hoped a successful games might have helped build on India's narrative as an emerging superpower, perhaps drawing comparisons to rival China's 2008 Olympics. Instead, the Commonwealth Games -- due to start on Oct. 2 -- have become a national embarrassment.
Several big-name athletes have already pulled out of the games, while the CWG Federation complain of a "filthy" athletes' village littered with rubbish and stray dogs.
Most seriously, a footbridge to the main stadium collapsed, injuring 27 workers -- highlighting India's wider infrastructure problems and raising concerns about the q
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