Friday, May 4, 2012

Rupee Sinking - large Trade Deficit and Capital out flows driving rupee down

Sukma collector Alex Paul Menon walking free, after being released by Maoists in the Bastar forests on Thursday, is the lead story in most papers today. 'I'm tired, shattered.... I want to go home : Menon after release', writes the Indian Express. 'Collector handed over to mediators', writes the Statesman, while the Hindustan Times opines, 'Maoists give in to public opinion, release collector'.
With the Presidential race hotting up, papers have written extensively on the run up to the nominations. 'Pranab has edge over Ansari, as Presidential race hots up', writes the Tribune. 'Didi, others ready to support Pranab', says the Asian Age, while the Pioneer writes, 'Congress unwilling to 'spare' Pranab - spreads confusion on President choice.'
"UK Court orders extradition of Tiger Hanif', writes the Hindu. The paper reports that after nearly 2 decades the law has finally caught up with 'Tiger' Hanif", an alleged associate of underworld don Dawood-Ibrahim, and also wanted in 2 cases of terror attacks in Gujarat.
The Times of India writes, 'Setting a new record, Edvard Munch's iconic painting, 'The Scream', considered one of the most recognizable in the art world, was sold for nearly 20 million dollars, the biggest price ever paid for a work of art at any auction'.
'All power of attorney property deals banned', writes the Times of India in its lead story. The paper adds that in an order that puts thousands of property transaction in Delhi under a cloud, the revenue department has made all realty sales through transfer of general power of attorney null and void with retrospective effect from October last year.
The Mail Today writes, 'Rupee Sinking - large Trade Deficit and Capital out flows driving rupee down'. The paper adds that this downward movement would primarily affect Indian Travellers flying abroad, students studying abroad and importers who pay in dollars. 
And finally, The Times of India writes that Black Pepper and its plant, which have been used for centuries in traditional Eastern medicine, have now got researches offering a long sought explanation for the beneficial fat fighting effects of Black pepper. Research suggests that the pungent tasting piperine, found in Black pepper can also block formation of new fat cells.

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