Diesel losses widen to Rs 9.45 per litre

New Delhi: With the rupee continuing to remain weak against the US dollar, losses on diesel have climbed to Rs 9.45 per litre, upsetting the government's subsidy maths. 

"We are now losing Rs 9.45 per litre on diesel as against Rs 8.60 (in the previous fortnight)," said P K Goyal, Director (Finance), Indian Oil Corp (IOC). 

The government in January decided to raise diesel prices in small doses of 40-50 paise a litre every month till such time that losses on the fuel are wiped out. Regular hikes in fact brought down the losses on diesel to just Rs 2.62 in March from Rs 8.64 per litre. 

But with the rupee dropping below 60 to a US dollar, losses on diesel have now climbed back to Rs 9.45. 

The next revision in diesel price, as per the monthly rate hike authorisation from the government, is due at the month end. 

Besides diesel, oil firms are also losing Rs 30.53 per litre on kerosene and Rs 368.58 per 14.2-kg LPG cylinder, he said. 

Indian Oil, Bharat Petroleum and Hindustan Petroleum at the beginning of the fiscal had projected Rs 80,000 crore revenue loss on selling diesel, cooking gas (LPG) and kerosene at government-controlled rates during 2013-14. 

Of this, the Finance Ministry had committed to meet Rs 20,000 crore and the rest Rs 60,000 crore was to be borne by the upstream firms like ONGC. 

But with rupee depreciation, the under-recoveries or revenue loss is now being projected at Rs 125,000 crore, he said. 

In 2012-13, oil firms lost Rs 1,61,029 crore in revenues at an average crude price of USD 107.07 per barrel and an exchange rate of Rs 54.45 to a US dollar. 

Goyal said every one rupee depreciation against the US dollar increases annual revenue loss by a Rs 8,000 crore while an increase of USD 1 a barrel in international crude oil price leads to annual rise in under recoveries by Rs 4,300 crore. 

The rupee has depreciated by 11.8 per cent since the beginning of the fiscal year in April and reached an all-time low of 61.21 against the US dollar on July 8. Some predict the rupee will touch 62 in a month. 

The Indian currency today declined 0.7 per cent to 60.027 per dollar, the biggest drop in almost two weeks. 
IOC and other oil firms today hiked petrol price by Rs 1.55 per litre, excluding VAT, as the rupee averaged 60.03 to a US dollar in the first half of July as compared to 58.94 in the previous fortnight. 

Oil firms have over the past six weeks raised petrol prices four times, a cumulative Rs 6.12. 
  

Five killed, 30 injured as buses collide in Kollam

Kollam: Five persons were killed and around 30 others injured in a collision between two buses near Chadayamangalam in Kollam Monday.

The injured have been admitted to various hospitals in the district and Thiruvananthapuram Medical College where the condition of two was stated to be serious, police said. The deceased included four women.

A KSRCT Super Fast bus was proceeding to Pamba from Thiruvananthapuram, while the private bus was on its way to Punalur from Kadakkal. According to reports, the private bus hit the KSRTC bus while trying to overtake a car at a bend.

The victims have been identified as Priya Augustiyaraj of Shasthamangalam, Thara (30) of Vilappilshala, Jayashree (16) of Anchal, her mother Ambili and Shasheendran of Thiruvananthapuram.

The accident occurred when a Kerala State Road Transport Corporation bus proceeding to Pampa from Thiruvananthapuram and a private bus going to Kadakkal from Punalur collided, police said.

Five killed, 30 injured as buses collide in Kollam

Kollam: Five persons were killed and around 30 others injured in a collision between two buses near Chadayamangalam in Kollam Monday.

The injured have been admitted to various hospitals in the district and Thiruvananthapuram Medical College where the condition of two was stated to be serious, police said. The deceased included four women.

A KSRCT Super Fast bus was proceeding to Pamba from Thiruvananthapuram, while the private bus was on its way to Punalur from Kadakkal. According to reports, the private bus hit the KSRTC bus while trying to overtake a car at a bend.

The victims have been identified as Priya Augustiyaraj of Shasthamangalam, Thara (30) of Vilappilshala, Jayashree (16) of Anchal, her mother Ambili and Shasheendran of Thiruvananthapuram.

The accident occurred when a Kerala State Road Transport Corporation bus proceeding to Pampa from Thiruvananthapuram and a private bus going to Kadakkal from Punalur collided, police said.

Diesel losses widen to Rs 9.45 per litre

New Delhi: With the rupee continuing to remain weak against the US dollar, losses on diesel have climbed to Rs 9.45 per litre, upsetting the government's subsidy maths. 

"We are now losing Rs 9.45 per litre on diesel as against Rs 8.60 (in the previous fortnight)," said P K Goyal, Director (Finance), Indian Oil Corp (IOC). 

The government in January decided to raise diesel prices in small doses of 40-50 paise a litre every month till such time that losses on the fuel are wiped out. Regular hikes in fact brought down the losses on diesel to just Rs 2.62 in March from Rs 8.64 per litre. 

But with the rupee dropping below 60 to a US dollar, losses on diesel have now climbed back to Rs 9.45. 

The next revision in diesel price, as per the monthly rate hike authorisation from the government, is due at the month end. 

Besides diesel, oil firms are also losing Rs 30.53 per litre on kerosene and Rs 368.58 per 14.2-kg LPG cylinder, he said. 

Indian Oil, Bharat Petroleum and Hindustan Petroleum at the beginning of the fiscal had projected Rs 80,000 crore revenue loss on selling diesel, cooking gas (LPG) and kerosene at government-controlled rates during 2013-14. 

Of this, the Finance Ministry had committed to meet Rs 20,000 crore and the rest Rs 60,000 crore was to be borne by the upstream firms like ONGC. 

But with rupee depreciation, the under-recoveries or revenue loss is now being projected at Rs 125,000 crore, he said. 

In 2012-13, oil firms lost Rs 1,61,029 crore in revenues at an average crude price of USD 107.07 per barrel and an exchange rate of Rs 54.45 to a US dollar. 

Goyal said every one rupee depreciation against the US dollar increases annual revenue loss by a Rs 8,000 crore while an increase of USD 1 a barrel in international crude oil price leads to annual rise in under recoveries by Rs 4,300 crore. 

The rupee has depreciated by 11.8 per cent since the beginning of the fiscal year in April and reached an all-time low of 61.21 against the US dollar on July 8. Some predict the rupee will touch 62 in a month. 

The Indian currency today declined 0.7 per cent to 60.027 per dollar, the biggest drop in almost two weeks. 
IOC and other oil firms today hiked petrol price by Rs 1.55 per litre, excluding VAT, as the rupee averaged 60.03 to a US dollar in the first half of July as compared to 58.94 in the previous fortnight. 

Oil firms have over the past six weeks raised petrol prices four times, a cumulative Rs 6.12. 
  

Obesity leading to deaths worldwide

Sydney: Obesity has reached epidemic proportions worldwide, with around 2.8 million people dying each year as a result of being overweight or obese, according to international health experts.

Globalisation has brought fast food culture to Chinese cities, contributing to major obesity problems. A study in 2006 found that over one-fifth of the one billion obese or overweight people in the world are Chinese, Xinhua reported.

One of the fattest nations in the developed world, Australia also shares this obesity problem. If Australians' weight gain continues at current levels, almost 80 percent of adults will be overweight or obese by 2025, according to Monash University.

To discuss the problem of obesity and evaluate a solution being developed by the Public Health Association of Australia, international nutrition experts met at an obesity and nutrition conference in Sydney.

The rise of multinational fast food outlets has been a key change in our environment leading to fatter foods and fatter people, said Bruce Neal, professor at the George Institute for Global Health in Sydney.

'As fast as we get rid of all our traditional vectors of disease -- infections, little microbes, bugs -- we are replacing them with the new vectors of disease, which are massive transnational, national, multinational corporations selling vast amounts of salt, fat and sugar,' Neal said.

Over time, consumers in developed countries have become acculturated to larger serving sizes that are well above what's necessary for an enjoyable, sensible and nutritious meal, said Tim Gill, associate professor at the University of Sydney's Boden Institute of Obesity, Nutrition, Exercise and Eating Disorders.

'People will consume a portion that's put in front of them. People will seek value by purchasing the largest portion size, because it's relatively cheap compared to the smaller size. We've just had a disconnect in terms of what we need to eat and what we can purchase,' he said.

A 2005 study by American scientists found that diners who ate from a bowl of soup that kept refilling would not only eat far more than normal, but they did not notice that they had eaten more, and did not feel more sated.

Most shoppers base their food choices on price rather than nutritional value, with lower socio-economic status consumers more likely to eat high energy-dense foods such as sugary drinks, said Marion Hetherington, a professor of biopsychology at the University of Leeds.

However, Jennie Brand-Miller, a professor at the University of Sydney's School of Molecular Bioscience, said low-fat diets may not in fact be best for our health.

'Low-fat dietary advice has not been helpful on a population level. It is consistently associated with weight regain. It does not reduce the risk of chronic disease,' said Brand-Miller.

'We need to pay more importance to protein. Protein is satiating, and we've undervalued it. We need to pay more attention to the sources of carbohydrate -- we need to switch from high GI to low GI carbohydrates,' she said.

At the heart of the obesity issue is the question of responsibility, and whether it's up to the consumers to look after their own needs, or industry to provide more healthy foods.

'In Britain, the public health responsibility has been an important initiative in the sense that companies will sign up, they will pledge to reduce the amount of calories in their food, to reduce the amount of salt,' said Hetherington.

By lowering salt, sugar and calorie content of their foods independently, industry will not face competitive pressure caused by only some producers providing more healthy foods in the marketplace, she said.

Obesity leading to deaths worldwide

Sydney: Obesity has reached epidemic proportions worldwide, with around 2.8 million people dying each year as a result of being overweight or obese, according to international health experts.

Globalisation has brought fast food culture to Chinese cities, contributing to major obesity problems. A study in 2006 found that over one-fifth of the one billion obese or overweight people in the world are Chinese, Xinhua reported.

One of the fattest nations in the developed world, Australia also shares this obesity problem. If Australians' weight gain continues at current levels, almost 80 percent of adults will be overweight or obese by 2025, according to Monash University.

To discuss the problem of obesity and evaluate a solution being developed by the Public Health Association of Australia, international nutrition experts met at an obesity and nutrition conference in Sydney.

The rise of multinational fast food outlets has been a key change in our environment leading to fatter foods and fatter people, said Bruce Neal, professor at the George Institute for Global Health in Sydney.

'As fast as we get rid of all our traditional vectors of disease -- infections, little microbes, bugs -- we are replacing them with the new vectors of disease, which are massive transnational, national, multinational corporations selling vast amounts of salt, fat and sugar,' Neal said.

Over time, consumers in developed countries have become acculturated to larger serving sizes that are well above what's necessary for an enjoyable, sensible and nutritious meal, said Tim Gill, associate professor at the University of Sydney's Boden Institute of Obesity, Nutrition, Exercise and Eating Disorders.

'People will consume a portion that's put in front of them. People will seek value by purchasing the largest portion size, because it's relatively cheap compared to the smaller size. We've just had a disconnect in terms of what we need to eat and what we can purchase,' he said.

A 2005 study by American scientists found that diners who ate from a bowl of soup that kept refilling would not only eat far more than normal, but they did not notice that they had eaten more, and did not feel more sated.

Most shoppers base their food choices on price rather than nutritional value, with lower socio-economic status consumers more likely to eat high energy-dense foods such as sugary drinks, said Marion Hetherington, a professor of biopsychology at the University of Leeds.

However, Jennie Brand-Miller, a professor at the University of Sydney's School of Molecular Bioscience, said low-fat diets may not in fact be best for our health.

'Low-fat dietary advice has not been helpful on a population level. It is consistently associated with weight regain. It does not reduce the risk of chronic disease,' said Brand-Miller.

'We need to pay more importance to protein. Protein is satiating, and we've undervalued it. We need to pay more attention to the sources of carbohydrate -- we need to switch from high GI to low GI carbohydrates,' she said.

At the heart of the obesity issue is the question of responsibility, and whether it's up to the consumers to look after their own needs, or industry to provide more healthy foods.

'In Britain, the public health responsibility has been an important initiative in the sense that companies will sign up, they will pledge to reduce the amount of calories in their food, to reduce the amount of salt,' said Hetherington.

By lowering salt, sugar and calorie content of their foods independently, industry will not face competitive pressure caused by only some producers providing more healthy foods in the marketplace, she said.

Keralite dies after throat slit in Bangalore

PANUR (KANNUR): A Keralite youth from Chokli died on Friday morning after his throat was slit by unknown people in Bangalore. He has been identified as Shamseer (26), an employee at a super market in Bangalore. Shajeer (28), the son of the owner of super market, who was with Shamseer was hacked. He has been admitted to Bangalore Manipal Hospital. Meanwhile, some employees at the super market who come from Manipur are missing.

Keralite dies after throat slit in Bangalore

PANUR (KANNUR): A Keralite youth from Chokli died on Friday morning after his throat was slit by unknown people in Bangalore. He has been identified as Shamseer (26), an employee at a super market in Bangalore. Shajeer (28), the son of the owner of super market, who was with Shamseer was hacked. He has been admitted to Bangalore Manipal Hospital. Meanwhile, some employees at the super market who come from Manipur are missing.

Woman tries to jump before train with children, one dies

THIRUVANANTHAPURAM: Following a family dispute, a woman tried to jump before the train with her two sons and one died. The woman Soumya, wife of Vinod of Murukkumpuzha, reached the railway track with her two sons Kannan and Vaisakh.

The train fatally knocked down the youngest son when his mother ran after her eldest son after he tried to flee seeing the train.

Woman tries to jump before train with children, one dies

THIRUVANANTHAPURAM: Following a family dispute, a woman tried to jump before the train with her two sons and one died. The woman Soumya, wife of Vinod of Murukkumpuzha, reached the railway track with her two sons Kannan and Vaisakh.

The train fatally knocked down the youngest son when his mother ran after her eldest son after he tried to flee seeing the train.