Inflation Shock: reaches 11.05 percent, highest in 13 years
June 20, 2008
New Delhi: Inflation rose to 11.05 percent for the week ending June 7,2008, according to the figures released on Friday by Ministry of Commerce and Industry in New Delhi. The rate of inflation is the highest in 13 years i.e. since May 6, 1995, when it was 11.11 percent while the corresponding figure was 8.75 percent for the previous week.
Increase in petrol product prices is seen as the main reasons behind the sharp rise in inflation.
The Wholesale Price Index (WPI) of fuel, power and lubricant are up by 7.8 per cent with Aviation Turbine Fuel (ATF) up by 14 per cent. However, the WPI for food articles actually declined 1.1 per cent during the week.
The inflation figure of 7.33 per cent for the week ended April 12 was also adjusted to 7.95 per cent.
According to NewsWire18, the Reserve Bank of India (RBI) is likely to step in, as inflation is ‘quite high’. Corporation Bank has hinted at loan rate hikes, saying it will follow RBI cues.
Within minutes of the release of inflation figures, the Bombay Stock Exchange benchmark Sensex dropped by about 350 points.
The sharp fall in Sensex reflects the nervousness of the investors about the efficacy of the measures being taken by the Finance Ministry and the RBI.
Inflation rises to 8.75%, highest during UPA govt’s tenure
June 13, 2008
New Delhi: India’s annual inflation rose to 8.75 per cent for the week ended May 31, against 8.24 per cent in the previous week. This is the highest rate of inflation during the UPA government’s tenure and is attributed mainly due to rising prices of food articles and vegetables.
The rising prices of milk, pulses, spices, fruit and vegetables continued to pose a major challenge before the UPA government in an election year even as Finance Ministry in tandem with the Reserve Bank of India (RBI) pursued tough policy and monetary measures to tame inflation.
The previous high was 8.33 per cent as per the provisional figure in the week ended August 28, 2004.
Analysts predict that once the impact of rise in prices of petrol, diesel and cooking gas, announced earlier this month, is taken into account the inflation, which is now at a seven-year high, would go past nine per cent mark when early June figures come out.
As part of inflation control measures, the RBI had on Wednesday increased the interest rate on its short-term lending to bank by 0.25 per cent to eight per cent, prompting the banks to consider a rise in lending rates for consumers and industry.
Acer Announces P244W LCD Monitor at Computex 08
June 6, 2008
Acer has announced the world’s first 24-inches full high-definition (FHD) wide-screen LCD monitor with 1080p resolution and 16:9 ratio at Computex 08. The P244W LCD monitor is targeted at gamers, designers and home-theater enthusiasts.
Apart from the wide-screen aspect ratio, the P244W LCD monitor also includes display technologies such as Adaptive Contrast Management (ACM) for enhanced gradation and detail, especially for dimmer and brighter scenes. It supports a superior contrast ratio of up to 20,000:1, rapid response time up to 2ms, and immersive graphics and video display to offer considerable improvement of gray-to-gray level, the most important factor in moving-picture viewing experiences.
Aesthetically speaking, the P244W sports a shiny black bezel with a polished black base and gleaming silver arm. Furthermore, there’s a convenient, touch-sensitive on-screen display (OSD). Additionally, it is compliant with Microsoft Vista OS, and supports HDMIT for projecting HD movies and high-impact gaming. Acer eColor helps in better managing color.
Barack Obama meets Hillary after clinching nomination
June 6, 2008
Democratic party presidential nominee Barack Obama has had an unannounced meeting with his defeated rival Hillary Clinton. The meeting held two days after Mr Obama effectively clinched the nomination for November’s US presidential election.
A spokesman for Mr Obama said the two former opponents met to talk about bringing their campaigns together and uniting the party.
Mrs Clinton has distanced herself from reports that she was hoping to stand as a vice-presidential running mate.
The last-minute meeting in Washington came after Mr Obama spent the day campaigning in the Republican stronghold of Virginia - a signal that he is now targeting voters who might be drawn to Republican presumptive nominee John McCain.
Mr Obama held large rallies in the state.
Intense pressure
The Illinois senator, under intense pressure from Clinton backers to choose her as his running mate, has announced a team to help him make his selection and said he will not be rushed.
Campaign aides said little about the meeting, which a Democratic source told ABC News was held at the Washington home of senior Democratic Senator Dianne Feinstein.
But reports say the two have put teams in place to handle communications between their respective camps in the coming days.
Senator Feinstein has said that a joint-ticket for the presidency would be a route to pulling together the pair’s diverse constituencies.
On Tuesday Mrs Clinton said she would be “open” to the idea of being Mr Obama’s running mate.
But a statement from the Clinton campaign on Thursday said: “While Senator Clinton has made clear throughout this process that she will do whatever she can to elect a Democrat to the White House, she is not seeking the vice presidency.”
It adds: “The choice here is Senator Obama’s and his alone.”