Inflation: more bad news according to BarCap

“We believe WPI inflation will remain in double-digit territory until May 2009. We expect WPI inflation of 17 per cent by September 2008,” says Investment bank Barclays Capital in a report.

BarCaps prediction is on the back of its expectations that the government will raise fuel prices again – between 10 and 20 per cent – by the end of September 2008 to lower fiscal pressure.

However, the seems to have little impact on the stock exchange, which is trading fairly flat on Monday.

India goes BollyVogue

An explosion of Western magazines has hit newsstands in India in the past 12 months, pitching a familiar mix of consumption and gossip, relationship advice and expensive goodies, reports the New York Times.

ET: Indian stocks worst BRIC performers in 2008

With the bears strengthening their hold on the domestic stock market, Indian equities have given the worst returns to investors compared to their peers in the three other BRIC nations Brazil, Russia and China so far this year, according to the Economic Times.

Analysis of MSCI Barra indices, which measures returns of various stock markets across the world for foreign investors, Indian stocks have given the highest negative return among the four BRIC countries till July 11. Indian stocks have provided a negative return of over 41 per cent so far this year, while China and Russian markets have given losses of 25.55 per cent and 10.15 per cent, each.

TOI: Tata Steel to buy mine in Australia

Tata Steel is looking into acquiring an iron ore mine in Western Australia, according to a Times of India report, which quoted an Australian official

“Tata Steel has expressed interest to invest in Western Australia’s iron ore sector,” Eric Ripper, deputy premier, treasurer, minister of state development, government of Western Australia, told the TOI.

Tata Steel has not yet confirmed the news, however, an unnamed company official told the TOI: “That it was only logical for the company to look for iron ore mines in Western Australia since this region has huge reserves.”

Sorry for the absence, I was ill all week!