New Delhi: India’s headline inflation figures shot up last month. The wholesale price index rose 7.31% in December, the highest figure in over a year. In November the index rose just 4.78%.
While food inflation has been high for a long time, economists say the high figures for wholesale inflation indicate that inflationary pressures are now affecting India’s manufacturing sector as well.
India is turning to the markets to combat pollution. The Bureau of Energy Efficiency says the government plans to start a market for trading energy saving credits. The credits will be awarded to companies that exceed their energy efficiency targets. Firms will then be able to sell those credits to others who don’t meet their targets.
There’s bad news for government oil companies. The finance ministry has offered them less than half the money they want as compensation for retailing kerosene and diesel. State-run oil companies want Rs31,700 crore in compensation for selling the two fuels at below the market price.
Pipe-making company Jindal Saw has posted impressive results in the last quarter of 2009. Its net profits rose 49.73% to Rs170 crore in the quarter ending 31 December.
South Indian Bank has also made gains in the quarter. Its net profit went up 15.2% to reach Rs62.5 crore.
HIV AIDS may have killed some two million people around the world in 2008, but scientists now warn that the situation could get worse. A study in Friday’s issue of the American magazine Science says new strains of HIV that are resistant to drugs pose a threat to global public health. The study suggests drug resistant strains are more likely to be transmitted than previously thought; and its authors say organisations like the WHO need to rethink their HIV strategies.