Prices of fruit and vegetables have started to rise across India due to insufficient rains. Sam Panthaky / AFP
Prices of fruit and vegetables have started to rise across India due to insufficient rains. Sam Panthaky / AFP

Indian food prices set to soar



Inflation in India is set to soar above 8 per cent by the end of the year, economists predict.

Morgan Stanley has issued a forecast that wholesale price index inflation could hit 8.2 per cent next month, while others are predicting that it could rise even further.

This comes despite an easing of India's wholesale price index, the main gauge of inflation in India, which slowed to 7.45 per cent last month compared to 7.81 per cent the previous month.

Inflation "could rise further until December 2012 due to high food prices, spillover of primary inflation into manufactured products, second round impact of the fuel price hike and high international commodity prices", said Sujan Hajra, the chief economist of Anand Rathi Securities, in a recent research note.

"We expect inflation to peak out at 8.5 per cent by December."

India's central bank has been grappling with a difficult economic mix of slowing growth and soaring inflation levels.

A batch of weak data released recently, including a contraction in industrial production, has brought into focus the continued problems that India's economy is facing, with the rupee weakening to a two-month low last week.

"Given the central bank's guidance for monetary policy stance in its last monetary policy review on October 30, we believe that policy rates will remain on hold until the end of 2012, with easing to start in Q1 2013," Morgan Stanley said. It added that inflation could moderate to between 7 and 7.5 per cent during the first quarter of the next calendar year.

The Reserve Bank of India (RBI) has kept interest rates on hold at high levels despite pressure from industry for a cut, as it has emphasised that inflation remains a concern.

It recently indicated that there could be a rate cut between January and March, when inflationary pressures are expected to subside.

India's wholesale price index fell to a 32-month low of 6.87 per cent in July, but since then it has increased, largely on higher food and energy prices.

A wave of reforms has been introduced by the government in the past couple of months in an effort to try to boost slowing growth and avert a downgrading of its sovereign rating, which it has been warned about by ratings agencies.

"We believe that policy reforms that help to correct the bad growth-mix issue will be key to reviving growth," Morgan Stanley said.

An interest-rate cut this year was unlikely, analysts agreed.

"We believe that the RBI will remain reluctant to cut given the lingering inflation pressures," said Leif Eskesen, the chief economist for India and Asean at HSBC.

"Moreover, it is also still keenly awaiting the announcement or implementation of additional structural policy reform measures and tangible steps to deliver fiscal consolidation."

P Chidambaram, the Indian finance minister, denied on Sunday that he was at loggerheads with the RBI over interest rates.

"The equation between the government and the central bank in India is the same as the equation between the government and the central bank of any country," Mr Chidambaram told the Press Trust of India.

"It is always arguing for growth on the part of government and arguing for stability and taming inflation on the part of the central bank."

Rafael Nadal's record at the MWTC

2009 Finalist

2010 Champion

Jan 2011 Champion

Dec 2011 Semi-finalist

Dec 2012 Did not play

Dec 2013 Semi-finalist

2015 Semi-finalist

Jan 2016 Champion

Dec 2016 Champion

2017 Did not play

 

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
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Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
Tips for SMEs to cope
  • Adapt your business model. Make changes that are future-proof to the new normal
  • Make sure you have an online presence
  • Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
  • Open communication with customers to see how they are coping and be flexible about extending terms, etc
    Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

Overview

What: The Arab Women’s Sports Tournament is a biennial multisport event exclusively for Arab women athletes.

When: From Sunday, February 2, to Wednesday, February 12.

Where: At 13 different centres across Sharjah.

Disciplines: Athletics, archery, basketball, fencing, Karate, table tennis, shooting (rifle and pistol), show jumping and volleyball.

Participating countries: Algeria, Bahrain, Comoros, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Saudi Arabia, Sudan, Syria, Tunisia, Qatar and UAE.

Straightforward ways to reduce sugar in your family's diet
  • Ban fruit juice and sodas
  • Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
  • Give young children plain yoghurt with whole fruits mashed into it
  • Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
  • Don’t eat dessert every day 
  • Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
  • Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
  • Read food labels if you really do feel the need to buy processed food
  • Eat everything in moderation
Indoor cricket World Cup:
Insportz, Dubai, September 16-23

UAE fixtures:
Men

Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final

Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final

The specs

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Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
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Fuel consumption: 6.3L/100km
Price: Dh106,900
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