Thursday, May 24, 2012

Rupee touches 56: What it means to you

 

Article

The rupee is in a free fall. The Indian currency touched new lifetime lows of Rs 56.38 to US dollar in early morning trade on Thursday. It is now down 24 per cent in just one year. (Read: Rupee hits new low of 56.38/$)

See full coverage of Rupee here

Here are five things to note:

1) Overseas travel expensive: If you are concerned about your upcoming overseas summer holiday, there is not much you can do to cut costs. You will have to pay more for your foreign exchange. This is not a good time to plan an overseas holiday if money is an issue. Your overseas holiday is close to 24 per cent more expensive than it was a year ago. If you have surplus US dollars or other foreign currency from your previous travel, you could save some money.

2) Overseas education costs to rise: The close to 24 per cent fall in the value of the rupee means you will have shell out more for your child’s education or for that executive MBA overseas that you plan to go for over the summer.

3) Inflation: The rupee is falling because the UPA government's finances are in disarray. There is a slowdown in gross domestic product or GDP growth. This means the government is likely to miss tax revenue targets as businesses and individuals will likely earn less profit due to slower growth. Although the government is talking about austerity, there is no cut in overall expenditure. India imports more than it exports. Hence, it has a current account deficit. This means more dollar demand, which then hurts the value of the rupee. RBI has to print more money and this adds to inflation. If oil prices fall and gold imports slow through the year, it should ease some pressure on the rupee and curb inflation. However, this makes the country vulnerable to external shocks.

4) Buy shares of export-oriented companies or local consumer companies: There is opportunity in adversity. The BSE IT sector index rose 1 per cent on Tuesday when overall share prices fell. Export-oriented companies that receive revenue in foreign currency are your best bet for now.

5) What next: The rupee is down 24 per cent since July 2011. It is likely to remain weak. This is largely because economic reforms have come to a standstill in India while others are attracting more foreign direct investment. Currencies of Australia, Indonesia and Korea are also down 8-10 per cent. However, analysts are more worried about India than others. As a percentage of the current account deficit, FDI inflows account for only 20 per cent for India. In comparison, Indonesia and Australia get FDI that is more than the current account deficit. India relies more on foreign capital flows in the stock market to finance the current account deficit. With an uncertainty over GAAR, investors are choosing to buy into other markets. This means, the Indian rupee would struggle going forward. 

Source:
http://profit.ndtv.com/News/Article/rupee-fall-what-it-means-to-you-304866

Uttarakhand govt removes 25% value added tax on petrol

Uttarakhand government has announced a removal of 25 per cent value added tax on petrol. This will make the fuel cheaper by Rs 1.87 in the state as compared to the rest of the country.

Oil marketing companies - Indian Oil, BPCL, HPCL on Wednesday, decided to hike prices of petrol by Rs 7.50 per litre on Wednesday evening. A ministerial committee is likely to meet on Friday to decide on a possible Rs 5 per litre hike in diesel and Rs 50 per cylinder hike in liquefied petroleum gas or LPG.

Source:
http://profit.ndtv.com/News/Article/uttarakhand-govt-removes-25-value-added-tax-on-petrol-304944

Chinese couple bury woman alive, sparking outrage

BEIJING (Reuters) - Chinese police have arrested a young couple who buried an old woman alive believing she was dead after their car hit the 68-year-old, newspapers said on Thursday, in a case which has sparked outrage over declining public morality.

The couple had been at an all-night karaoke session when they hit the woman while driving in the early hours of the morning in the wealthy eastern province of Zhejiang last month, the official China Daily said.

"A witness said he heard someone crying and saw an elderly woman lying on the ground near (the car)," it cited a policeman as saying.

"A man and a woman got out and put the elderly woman in the car, saying they would send her to hospital."

But, worried about being arrested for drunk driving and causing the accident and believing she was no longer alive, they buried her near the side of the road, the report added.

However, when police later found the woman's body they discovered she was still alive when she was buried, and had then suffocated to death, the paper said.

The story has been widely discussed on China's popular Twitter-like service Weibo, where it has ignited uproar for what some called the immorality of modern Chinese society.

"Such things show that our society really has huge problems it is not facing," wrote one user.

"People of China, how have you come to this?" wrote another.

China's economic boom and the growing disparity between the rich and poor have made changing social values a contentious topic, with some lamenting what they see as materialism and a get-rich-quick attitude replacing public morals.

Last year, graphic video footage of a two-year-old child run over by a van and ignored by passersby in southern China sparked similar anger.

(Reporting by Ben Blanchard; Editing by Michael Perry)

Source:
http://in.news.yahoo.com/chinese-couple-bury-woman-alive-sparking-outrage-033640709.html

Bharat Bandh on May 31 against UPA's petrol bomb

Protesting over the steepest-ever hike in the price of petrol and runaway inflation that is affecting prices of all commodities, the National Democratic Alliance has called for a nation-wide bandh on May 31.

NDA convenor and JDU chief Sharad Yadav informed that all the NDA partners are in agreement with this proposal and will support the bandh. He also said that the NDA will approach other political parties too for their support to proposed Bharat Bandh on May 31.

The Indian government hiked petrol prices by an unprecedented over Rs 7.50 a litre, triggering protests from the opposition and even government allies. But the industry hailed it.

Just a day after Prime Minister Manmohan Singh warned of taking "difficult decisions" to mobilise revenue, state-controlled refiners hiked the fuel price by Rs.6.28 a litre exclusive of taxes effective midnight Wednesday.

This, an official said, was meant to compensate losses incurred by the companies for selling petrol at subsidised rates.

The hike will range between Rs.7.54 and Rs.7.98 in the four metros and would be higher or lower in other cities depending on the extent of taxes.

India Inc said the increase had become inevitable with the continued slide of the rupee's exchange rate.

"The inflationary impact of such an increase is ... transitory. It can be mitigated by reduction in taxes by the central and state governments," the Federation of Indian Chambers of Commerce and Industry said.

Indian Oil Corporation said given the losses being incurred, it was forced to hike the price of petrol. "This excludes losses already suffered till date during current financial year 2012-13, which would require an additional increase of around Rs.1.50 a litre in selling price of motor spirit for balance part of the year," it said.
Petrol in Delhi will cost Rs.73.18 a litre, in Mumbai Rs.78.57, in Kolkata Rs.77.88 and in Chennai Rs.77.53 a litre.

A defensive Congress took refuge in the high global prices of oil. "Global prices are up and the oil companies take their own decisions after the deregulation of petrol prices. India is part of the world and so it is affected too," said Congress spokesperson Rashid Alvi.

The middle class reacted with predictable anger. The opposition tore through the official justification of the price rise while allies DMK and Trinamool Congress too flayed the Congress-led government.

But even as she attacked the Congress for not consulting the allies over the issue and expressed her opposition to the price rise, Trinamool leader and West Bengal Chief Minister Mamata Banerjee refused to quit the UPA.

Both DMK chief M. Karunanidhi and Punjab Chief Minister Parkash Singh Badal demanded an immediate rollback, saying the hike would badly hurt the common man.

The CPI-M and other Left parties were the most critical. D. Raja of the Communist Party of India said: "It is just a prelude. It will burden the common people and we will protest on the streets and the government will have to rollback the hike."|
Corporate Affairs Minister M. Veerappa Moily justified the decision, pointing out at the fiscal deficit and an economic situation "going out of hand". He said the price rise was "most minimal".

The Bharatiya Janata Party blamed fiscal mismanagement for the decision. Tamil Nadu Chief Minister J. Jayalalitha mockingly called it a "gift" from the UPA-II government on its third anniversary.

Indian states levy sales tax of 15-33 percent. Among the other levies are VAT and additional sales tax.

India deregulated petrol prices in June 2010 but continues to subsidise kerosene, diesel and cooking gas to protect the poor from inflationary pressures.

Petrol prices were last revised Nov 4, 2011.

The oil companies have been losing Rs.8,000 crore per annum as they were being forced to sell petrol at subsidised rates.

Petroleum and Natural Gas Minister S. Jaipal Reddy had said Tuesday the depreciation of the rupee had necessitated an immediate increase in fuel prices.

Source:
http://in.news.yahoo.com/bharat-bandh-on-may-31-against-upa-s-petrol-bomb.html

Wednesday, May 23, 2012

NASA Envisions Alien Worlds

For decades, NASA has delighted stargazers with pictures taken by astronauts, telescopes, and rovers across the galaxy -- photographic glimpses of real planets, moons, stars, and other heavenly bodies. When illustrators, meanwhile, stretch their imaginations -- giving shape and color to what, say, a sunrise on another world -- their work offers brilliant notions of what vistas beyond our tiny corner of space might look like. Captured by a camera or, as in this gallery, envisioned by artists, the far reaches of space continue to humble and amaze.

NASA Envisions Alien Worlds

Out of the Dust, a Planet is Born

In this artist's conception, a possible newfound planet spins through a clearing, detected around the star CoKu Tau 4 by the Spitzer Space Telescope, in a nearby star's dusty, planet-forming disc. The possible planet is theorized to be at least as massive as Jupiter, and may have a similar appearance to what the giant planets in our own solar system looked like billions of years ago. NASA/JPL-Caltech/R. Hurt (SSC-Caltech)

NASA Envisions Alien Worlds

Hubble Spots Possible New Moons Around Pluto

The artist's concept above shows the Pluto system from the surface of one of the candidate moons. The other members of the Pluto system are just above the moon's surface. Pluto is the large disk at center, right. Charon, the system's only confirmed moon, is the smaller disk to the right of Pluto. The other candidate moon is the bright dot on Pluto's far left. Click image for full resolution.

NASA/ESA/G. Bacon (STScI)

NASA Envisions Alien Worlds

Steaming Hot Planet

This artist's impression shows a gas-giant exoplanet transiting across the face of its star. Infrared analysis by NASA's Spitzer Space Telescope of this type of system provided the breakthrough.The planet, HD 189733b, lies 63 light-years away in the constellation Vulpecula. It was discovered in 2005 as it transited its parent star, dimming the star's light by some three percent.

ESA/C.Carreau

NASA Envisions Alien Worlds

Fantastic Four Galaxies with Planet

This artist's concept shows what the night sky might look like from a hypothetical planet around a star tossed out of an ongoing four-way collision between big galaxies (yellow blobs). NASA's Spitzer Space Telescope spotted this "quadruple merger" of galaxies within a larger cluster of galaxies located nearly 5 billion light-years away.Though the galaxies appear intact, gravitational disturbances have caused them to stretch and twist, flinging billions of stars into space, nearly three times as many stars as are in our Milky Way galaxy. The tossed stars are visible in the large plume emanating from the central, largest galaxy. If any of these stars have planets, their night skies would be filled with the monstrous merger, along with other galaxies in the cluster (smaller, bluish blobs).This cosmic smash-up is the largest known merger between galaxies of a similar size. While three of the galaxies are about the size of our Milky Way galaxy, the fourth (center of image) is three times as big. All four of the galaxies, as well as most other galaxies in the huge cluster, are blob-shaped ellipticals instead of spirals like the Milky Way.Ultimately, in about one hundred million years or so, the four galaxies will unite into one. About half of the stars kicked out during the merger will fall back and join the new galaxy, making it one of the biggest galaxies in the universe.

NASA/JPL-Caltech/Harvard-Smithsonian CfA

NASA Envisions Alien Worlds

Exoplanet HR 8799b

This is an artistic illustration of the giant planet HR 8799b.The planet was first discovered in 2007 at the Gemini North observatory. It was identified in the NICMOS archival data in a follow-up search of NICMOS archival data to see if Hubble had also serendipitously imaged it.The planet is young and hot, at a temperature of 1500 degrees Fahrenheit. It is slightly larger than Jupiter and may be at least seven times more massive. Analysis of the NICMOS data suggests the planet has water vapor in its atmosphere and is only partially cloud covered. It is not known if the planet has rings or moons, but circumplanetary debris is common among the outer planets of our solar system.

NASA/ESA/G.Bacon(STScI)

NASA Envisions Alien Worlds

Chemical Soups Around Cool Stars

This artist's conception shows a young, hypothetical planet around a cool star. A soupy mix of potentially life-forming chemicals can be seen pooling around the base of the jagged rocks. Observations from NASA's Spitzer Space Telescope hint that planets around cool stars - the so-called M-dwarfs and brown dwarfs that are widespread throughout our galaxy - might possess a different mix of life-forming, or prebiotic, chemicals than our young Earth.

NASA/JPL

NASA Envisions Alien Worlds

Huygens on Titan

In 2005 the robotic Huygens probe landed on Titan, Saturn's enigmatic moon, and sent back the first ever images from beneath Titan's thick cloud layers. This artist's impression is based on those images. In the foreground, sits the car-sized lander that sent back images for more than 90 minutes before running out of battery power. The parachute that slowed Huygen's re-entry is seen in the background, still attached to the lander. Smooth stones, possibly containing water-ice, are strewn about the landscape. Analyses of Huygen's images and data show that Titan's surface today has intriguing similarities to the surface of the early Earth.

ESA

NASA Envisions Alien Worlds

Flaring Red Dwarf Star

This is an artist's concept of a red dwarf star undergoing a powerful eruption, called a stellar flare. A hypothetical planet is in the foreground. Flares are sudden eruptions of heated plasma that occur when the field lines of powerful magnetic fields in a star's atmosphere "reconnect," snapping like a rubber band and releasing vast amounts of energy equivalent to the power of 100 million atomic bombs exploding simultaneously.Studying the light from 215,000 older red dwarfs collected in observations by NASA's Hubble Space Telescope, astronomers found 100 stellar flares popping off over the course of a week.

NASA/ESA/G. Bacon(STScI)

NASA Envisions Alien Worlds

Super-Hot Planet with Unique Comet-Like Tail

Astronomers using NASA's Hubble Space Telescope have confirmed the existence of a baked object that could be called a "cometary planet." The gas giant planet, named HD 209458b, is orbiting so close to its star that its heated atmosphere is escaping into space.Observations taken with Hubble's Cosmic Origins Spectrograph (COS) suggest powerful stellar winds are sweeping the cast-off atmospheric material behind the scorched planet and shaping it into a comet-like tail.

NASA/ESA/G. Bacon (STScI)

NASA Envisions Alien Worlds

This Planet Smells Funny

Giant planet GJ 436b in the constellation Leo is missing something--and that something is swamp gas. To the surprise of astronomers who have been studying the Neptune-sized planet using NASA's Spitzer Space Telescope, GJ 436b has very little methane--an ingredient common to many planets in our own solar system. This artist's concept shows the unusual, methane-free world partially eclipsed by its star.Models of planetary atmospheres indicate that any world with the common mix of hydrogen, carbon and oxygen, and a temperature up to 1,000 Kelvin (1,340 degrees Fahrenheit) should have a large amount of methane and a small amount of carbon monoxide. But at about 800 Kelvin (or 980 degrees Fahrenheit), GJ 436b it does not. The finding demonstrates the diversity of exoplanets and the need for further study.

NASA/JPL-Caltech

NASA Envisions Alien Worlds

An Imagined Canyon on Planet Kepler 10-B

The daytime temperature is expected to be more than 2,500 degrees Fahrenheit, hotter than lava flows here on Earth, hot enough to melt iron! Many years ago, before Kepler launched, members of what became the Kepler team built a robotic telescope at Lick Observatory to learn to do transit photometry-- detecting drops in brightness of stars when planets pass in front of them. We called it the Vulcan Telescope, named after the hypothetical planet that scientists in the 1800's thought might exist between the Sun and Mercury. A planet that might explain the small deviations in Mercury's orbit that were later explained with Einsteins theory of general relativity.Vulcan is the god of fire in Roman mythology, a name befitting of a world so close to the Sun. The artists rendering of Kepler-10b is reminiscent of that hypothetical planet Vulcan. The Kepler team came full circle in its quest. We know that we've only begun to imagine the possibilities.

NASA/Kepler Mission/Dana Berry

NASA Envisions Alien Worlds

Imagined View from Planet Kepler 10-B

Kepler-10b orbits one of the 150,000 stars that the Kepler spacecraft is monitoring, a star that is very similar to our own Sun in temperature, mass and size, but older with an age of over 8 billion years, compared to the 4-and-1/2 billion years of our own Sun. It is one of the brighter stars that Kepler is monitoring and about 560 light years from our solar system, which means when the light from this star began its journey toward Earth, European navigators were crossing the Atlantic Ocean for the first time in search of new horizons. Today, we are still exploring and our crow's nest is a space telescope called Kepler. One day, the oceans we cross will be the galaxy itself, but for now, we imagine the worlds we discover by putting all that we have learned from our observations and analyses into the fingers of artists.Kepler-10b must be a scorched world, orbiting at a distance that is more than 20 times closer to its star than Mercury is to our own Sun, with a daytime temperature expected to be more than 2,500 degrees Fahrenheit.The Kepler team has determined that Kepler-10b is a rocky planet, with a surface you could stand on, a mass 4.6 times that of Earth, anda diameter 1.4 times that of Earth.

NASA/Kepler Mission/Dana Berry

Source:
http://in.news.yahoo.com/photos/nasa-envisions-alien-worlds-slideshow/nasa-envisions-alien-worlds-photo-1337334610.html

Monday, May 21, 2012

Maruti to launch Cervo this Diwali

Maruti (in fact, media) has been tantalizing us for quite a while with the prospect of launching the ultra small car Cervo. Now, credible media reports have it that the Cervo is all set to be launched this Diwali, replacing the iconic Maruti 800. According to a report by Economic Times, Cervo will be launched this Diwali, priced between 2-2.5 lakh. Although a senior official from Maruti Suzuki has confirmed that “the work on the car is going on and the company is planning to launch it before Diwali,” there is no guarantee that the new car is going to be in the same shape that you see in these pictures. However, we can assure you that there is something brewing in the Maruti plant and the cat will be out of the bag during the upcoming festive season.

cervo

The Cervo looks like a smaller Chevrolet Beat with cues from Honda Jazz's design. The phenomenal fuel efficiency is one of the USPs of this car. Powered by Suzuki's 660cc engine — as against Nano's 623cc — the Cervo could be priced a little higher than Nano.

cervo

According to a report by Economic Times, Cervo will be launched this Diwali, priced between 2-2.5 lakh.

Maruti to launch Cervo this Diwali

Inside, the dashboard of the Cervo looks almost like the Swift, with the rectangular air vents in the centre and the circular ones on the sides.

cervo

Power windows and airbags are available in the international markets but chances are that Indians will have to compromise on that.

cervo

Although a senior official from Maruti Suzuki has confirmed that “the work on the car is going on and the company is planning to launch it before Diwali,” there is no guarantee that the new car is going to be in the same shape that you see in these pictures.

cervo

However, we can assure you that there is something brewing in the Maruti plant and the cat will be out of the bag during the upcoming festive season.

cervo

“The work on the car is going on and the company is planning to launch it before Diwali. The car will be priced below Alto and above that of the Maruti 800. This will be a big booster for the company. At present,¬ the company is working on the pricing of the diesel variant,” a senior official from Maruti Suzuki India Ltd told one of our sources on the condition of anonymity.

cervo

However, the company refused to comment on the upcoming car officially and said they do not comment on their future models.

cervo

The parent Suzuki Motor Company already markets a mini- compact car in Japan with an engine capacity of less than 800 cc.

Maruti to launch Cervo this Diwali

Maruti Cervo

Maruti to launch Cervo this Diwali

Maruri Cervo

cervo

cervo

cervo

Source:
http://in.news.yahoo.com/photos/maruti-to-launch-cervo-this-diwali-slideshow/cervo-photo-1335977966.html

Saturday, May 19, 2012

Indian govt websites hacked by Anonymous over 'internet censorship'

New Delhi, May 19 (ANI): Notorious Internet hacking group Anonymous has claimed responsibility for cyber-attacks on a host of Indian government websites, in retaliation to the country's web censorship plans.

Websites of government departments, the Supreme Court and, the Bharatiya Janata Party and the Indian National Congress came under the attack.

The Indian anti-piracy firm behind the blocking of Vimeo, DailyMotion and The Pirate Bay was also attacked, the BBC reports.

The website of Copyrightlabs was also 'down for maintenance' during the attacks.

In tweets documenting its ongoing hack attacks, Anonymous said they were being carried out in retaliation for 'internet censorship' in India.

Anonymous brought down the websites by a tactic known as a Distributed Denial of Service (DDoS) attack. (ANI)

Source:
http://in.news.yahoo.com/indian-govt-websites-hacked-anonymous-over-internet-censorship-045908252.html