Archive | January, 2014

Rajan rules out picking unconventional tools to tame inflation

Tags: , , , ,

Rajan rules out picking unconventional tools to tame inflation

Posted on 31 January 2014 by GGS News

MUMBAI:  31 Jan : Known for his strong monetarist approach and hawkish view on inflation, Reserve Bank Governor Raghuram Rajan today defended the rate hikes earlier this week and ruled out adopting any unconventional tools to tackle price rise.

At a Town Hall meeting with school students here this morning, Rajan when asked whether he would be more innovative in combating inflation or will stick to tools adopted by his predecessors of raising interest rates, said he does not have any wonder tool to fight the price rise menace.

“Do we have any new or wonderful tool (for inflation) or can we invent one? I think problems emerge when central bankers get overly innovative in the tools that they will use.

“So, I think its better to be a little boring and to do what is conventional because conventional works. If you try the unconventional you may create a whole set of new problems,” told the meeting organised by the ‘Newspaper In Education’, a children’s publication from the Times Group.

“One reason for high inflation is supply-side mismatches and other is too much demand. Now, there are many ways of constraining demand. Less spending by the government is a way of constraining demand. Another way is to make demand match supply, which is to raise interest rates,” Rajan said.

He, however, was quick to added that to accelerate growth, the central bank is taking newer steps.

“We are trying our best to improve health of the economy and we will do whatever it takes to improve that. As far as growth goes we are addressing it through a variety of reforms which make finance easier and more widely available but I hope the answer for us in the demand-side is doing something different from what we are doing now,” he said.

He further said as far as the current situation in the economy goes we have both supply-side problem — large projects have been stalled, and also on the food side there are discrepancies in distribution.

The Governor who took over charge last September has raised interest rates by 75 basis points in three out of his four monetary policy announcements, citing elevated inflation as a major cause of concern.

When asked what the central bank is trying to achieve with the recent hikes in key lending rates, Rajan said it is to keep cost of money higher and manage inflation expectations.

Comments (0)

Sonakshi Sinha Cuts Lean Figure in Post-Workout Selfie

Tags: , , ,

Sonakshi Sinha Cuts Lean Figure in Post-Workout Selfie

Posted on 31 January 2014 by GGS News

GGS NEWS : 31 JAN : Bollywood actress Sonakshi Sinha seems to have shot back at the criticism towards her weight, by posting a picture of her lean self in workout gear on Thursday.

The ‘Lootera” actress went the Kim Kardashian way by posing for a selfie after a workout. The 26-year-old cut a toned figure in the photo, which looked far from her plumpy self.

Sonakshi’s weight issues have often been the talk of town. But her recent photo is an indication that the actress is all geared up to melt away the pounds which might give her image a more urbane edge.

Interestingly, Sonakshi posted the selfie on a day when her contemporary Parineeti Chopra got vocal about the former’s weight. The “Hasse Toh Phase” actress, who herself has been struggling with the extra pounds, felt that Sonakshi is not overweight.

“Sonakshi looks great the way she is. Personally, I don’t think she is overweight. She is beautiful and nobody has a gorgeous face like Sonakshi. I am talking about what I feel,” Parineeti told PTI.

Earlier, Sonakshi slammed critics about her weight saying her profession is to act and not be a “size zero”. Her co-star Shahid Kapoor also came to her defence on a separate such occasion.

Comments (0)

Watch: Spectacular solar show captured by NASA’s Solar Dynamics Observatory

Tags: , , , , , ,

Watch: Spectacular solar show captured by NASA’s Solar Dynamics Observatory

Posted on 31 January 2014 by GGS News

NASA,(GGS NEWS) 31 JAN : Solar eclipses are always spectacular events, but you always have to be in the right place at the right time to get the best view. Today, a solar eclipse occurred where noone on Earth could see it, unless you were closely watching the feed from NASA’s Solar Dynamics Observatory.Called a ‘lunar transit’ when it’s not visible from Earth, SDO watched this morning from its place in Earth orbit, as the moon passed in front of its view of the sun. The video shows the transit at two different wavelengths of light, and then slows down the second clip for a good look at it.
This is not only to take advantage of the fact that there’s no atmosphere between SDO, the moon and the sun to spoil the crispness of the images, but also to show off the powerful M6-class solar flare that goes off and the immense coronal mass ejection that blasts off into space, right after the moon finishes its transit.If you’re interested in seeing more views of this, you can check it out on the SDO website (click here). Set the start and finish dates to 2014-01-30 13:30:00 and 2014-01-30 15:30:00, choose your telescope (the first nine ‘AIA’ options show it), and click submit!
The solar flare and coronal mass ejection weren’t Earth-directed, but spaceweather.com reports it as a “potentially significant event”, meaning that it could still cause a geomagnetic storm over the next few days and ramp up the Northern Lights.

Comments (0)

Japan, Russia meet on disputed territories

Tags: , ,

Japan, Russia meet on disputed territories

Posted on 31 January 2014 by GGS News

Tokyo, 31 Jan  (IANS) Japan and Russia Friday held talks here to discuss territorial issues, economic cooperation, as well as the meeting between Japanese Prime Minister Shinzo Abe and Russian President Vladimir Putin in Sochi on the sidelibes of the Winter Olympics.

The talks between Japanese Deputy Foreign Minister Shinsuke Sugiyama and his Russian counterpart Igor Morgulov covered the disputed territories that have prevented the two countries from reaching a peace treaty since the end of World War II in 1945, reported Xinhua.

Japan and Russia are at odds over a group of islands near Japan’s Hokkaido. The islets are known as the southern Kurils in Russia and the northern territories in Japan.

“We would like to have candid consultation on important issues such as the settlement of the issue of the northern territories and conclusion of a peace treaty,” Sugiyama said during the meeting.

Morgulov said Russia intended to discuss history of the territorial issues.

The two officials will also discuss bilateral economic cooperation and cultural exchange during the meet.

Abe will attend the opening ceremony of the Sochi Winter Olympics Feb 7 before meeting Putin, who said he would visit Japan this year.

Comments (0)

Man jumps before Delhi Metro train, dies

Tags: , , ,

Man jumps before Delhi Metro train, dies

Posted on 31 January 2014 by GGS News

New Delhi : 31 JAN : A 55-year-old man died Friday after he jumped in front of a Delhi Metro train, an official said.
Police have recovered a suicide note from the deceased Paramjit Singh.

“The note says that he was depressed due to a disease,” a police official told IANS.

“The man jumped in front of the Metro at 9.42 a.m. and was immediately sent to hospital,” a Metro official told IANS.

Comments (0)

Uttarakhand CM Vijay Bahuguna quits

Tags: , , ,

Uttarakhand CM Vijay Bahuguna quits

Posted on 31 January 2014 by GGS News

GGS NEWS : 31 JAN : Ending months of speculation about a change of guard, Vijay Bahuguna today resigned as Uttarakhand Chief Minister amidst indications that Union Minister Harish Rawat has emerged as a strong contender to succeed him.
Shortly before going to the Raj Bhawan to submit his resignation to Governor Aziz Qureshi, the former High Court judge-turned-politician said he was resigning on the directives of the party high command.
“I am resigning from the post of Chief Minister on the directives of the party high command. Tomorrow there will be a meeting of MLAs and I request them to pass a resolution with consensus authorising Congress President Sonia Gandhi to elect the new chief minister,” Bahuguna told reporters.
Union Minister Ghulam Nabi Azad and AICC General Secretaries Janardan Dwivedi and Ambika Soni, who is in charge of party affairs in the state, will be here tomorrow as central observers for ensuring a smooth changeover.
Speculation was rife for months over Bahuguna’s ouster after his leadership skills come under scrutiny in the wake of a natural calamity of catastrophic proportions that had hit the state in June last year claiming thousands of lives.
Bahuguna’s alleged delayed response with rescue operations being launched about four to five days after the calamity struck on June 16-17 came in for bitter criticism, prompting the party high command to look for a substitute for him.
Bahuguna parried a question on the circumstances that led to his exit, saying he has “no comments” to offer.
“This is my good fortune that I got a chance to serve the nation and I will always do whatever is possible by me for the development of the state,” he said.
Congress sources said that after Bahuguna’s exit, Rawat is the front-runner for the post. The name of Pritam Singh, who is the Food and Civil Supplies Minister, is also doing the rounds.
Pritam Singh belongs to the Rawat camp and the talk is that he could emerge as a compromise candidate if the anti-Rawat faction refuse to accept him. Pritam Singh is an MLA from Chakrata.
Others in the race include state Finance Minister Indira Hridayesh.

Comments (0)

Late Pope John Paul-II’s blood stained relic disposed off by thieves

Tags: , , , ,

Late Pope John Paul-II’s blood stained relic disposed off by thieves

Posted on 31 January 2014 by GGS News

GGS NEWS : 31 JAN : Police in Italy have recovered a piece of cloth stained with the blood of the late Pope John Paul II from an assassination attempt in 1981.

Officers in L’Aquila, east of Rome, said they found the relic in the garage of two men who were detained for having stolen its gold and glass case last weekend. The case, or reliquary, was recovered on Thursday.

Bishop Giovanni D’Ercole said he had pieced together the reliquary and the cloth. The recovered piece of fabric was missing just a few filaments of cloth and gold thread, he said.

“I think John Paul [II]has forgiven them. I think we have to do the same,” D’Ercole said of the men, believed by police to be drug addicts.The reliquary and a crucifix were stolen from the isolated mountain church of San Pietro della Ienca last weekend.

The cloth was a fragment of the cassock that John Paul II was wearing on 13 May 1981 when he was shot in an assassination attempt.

Relics of saints and other holy figures are often displayed in reliquaries to be venerated by the Catholic faithful.

The late pope, who is due to be declared a saint on 27 April, loved the mountains in Abruzzo because they reminded him of his native Poland. He would slip away secretly from the pressures of the Vatican to hike and ski in the early years of his papacy.

Comments (0)

Amanda Knox ‘frightened and saddened’ by Italian court verdict

Tags: , , , ,

Amanda Knox ‘frightened and saddened’ by Italian court verdict

Posted on 31 January 2014 by GGS News

GGS NEWS 31 JAN : Amanda Knox has told how she is “frightened and saddened” after she was found guilty of murdering British student Meredith Kercher.

An Italian court overturned the decision to acquit the American and former boyfriend Raffaelle Sollecito of Ms Kercher’s murder.

Knox was at home in Seattle as the verdict was reached . Neighbours said they heard screams of ‘no’ following the dramatic decision.

In a statement shortly after the verdict, Knox said: “First and foremost it must be recognised that there is no consolation for the Kercher family. Their grief over Meredith’s terrible murder will follow them forever. They deserve respect and support.

“I am frightened and saddened by this unjust verdict. Having been found innocent before, I expected better from the Italian justice system. The evidence and accusatory theory do not justify a verdict of guilt beyond a reasonable doubt. Rather, nothing has changed.”

The 26-year-old added that there was a lack of evidence and her family has  ‘suffered greatly ‘ from the case.

She added: “This has gotten out of hand. Most troubling is that it was entirely preventable. I beseech those with the knowledge and authority to address and remediate the problems that worked to pervert the course of justice and waste the valuable resources of the system: overzealous and intransigent prosecution, prejudiced and narrow-minded investigation, unwillingness to admit mistake, reliance on unreliable testimony and evidence, character assassination, inconsistent and unfounded accusatory theory, and counterproductive and coercive interrogation techniques that produce false confessions and inaccurate statements.

“Clearly a wrongful conviction is horrific for the wrongfully accused, and it is also terribly bad for the victim, their surviving family, and society.”

Comments (0)

Tags: , , ,

House session outside Assembly premises unconstitutional: Congress

Posted on 31 January 2014 by GGS News

New Delhi, 31 Jan : Delhi Congress has slammed the AAP government’s decision to call a special session of the Assembly outside its designated premises, saying the move was totally unconstitutional.

“As per the constitution, the Assembly session has to be held at its designated place. But the AAP government has violated the rules by calling an Assembly session at Indira Gandhi Indoor Stadium.

“Only Assembly members can take a decision about where a session is to be held,” the Delhi Pradesh Congress Committee told reporters here.

Lovely added that if the Delhi government violates rules, Congress would not desist from bringing contempt and privilege motion against it.

“As per the rule, the Assembly hall, Speaker and deputy Speakers’ seats are its designated places in the Assembly. Calling Assembly session on open ground is unconstitutional. Kejriwal and his ministers should have read the rules and regulations before taking any decision,” he said.

Asked if Congress MLAs would attend the session if it was indeed held outside, Lovely said they were yet to take a decision on that.

“It doesn’t matter whether Congress MLAs will attend the session or not. Congress demands that the AAP government immediately withdraw its decision as it violates the rules. Besides, there is also a Supreme Court ruling which says that law should be made in the Legislative Assembly,” he said.

Delhi government today decided to call a special session of the Assembly at the Indira Gandhi Indoor Stadium on February 16 to take up the Jan Lokpal Bill.

The party had earlier said it wanted to hold such a session at the Ramlila Ground, where the CM and his Cabinet had been sworn into office in December last year.

Comments (0)

10 killed in fireworks display on Chinese New Year

Tags: , ,

10 killed in fireworks display on Chinese New Year

Posted on 31 January 2014 by GGS News

CHIINA, 31 Jan : The Chinese Lunar New Year begins Friday. The 15-day celebration – ending on Valentine’s Day – will usher in the Year of the Horse.
Travel is already underway for the holiday, which is China’s largest migration season. Thanks to the mass flock from rural and to urban areas in recent decades, the Lunar New Year has become a frenzied travel period.
The Chinese government is expecting more than 3.62 billion trips this year as people return home, including 258 million trips by rail and another 42 million by plane.
For those not traveling around or to China, a variety of celebrations are taking place around the world. San Francisco’s New Year parade, taking place on Saturday, Feb. 15, is the largest Asian celebration in North America. Washington, D.C. and Chicago will host festivities, and in New York City, the Empire State Building will display in its windows a special light exhibit designed by singer Guo Feng.In Europe, London will host a day of activities on the West End, including musical performances and crafts.
Potentially missing from China’s celebration this year, however, will be fireworks. Earlier today, Chen Zhenlin, spokesman for the China Meteorological Administration, told state media he believed fireworks should be banned due to the dangerous smog levels in China.
“Firecrackers and fireworks can release large amounts of toxic gas and particles such as sulphur dioxide, which will cause sever air pollution,” he said.
So far, no ban has been issued, though authorities in Beijing have asked people to set off fewer fireworks in order to help improve the air quality. The Beijing Consumer Association asked residents to consider flowers and electronic substitutes as alternatives to fireworks.
Already this month, air pollution has reached levels 20 higher than those considered healthy by the World Health Organization.
Other ann

Comments (0)

Advertise Here


Advertise Here















View amritpal Singh SIDHU's profile on LinkedIn