CBSE class 10th results 2012 likely to be announced today

New Delhi: The Central Board of Secondary Education (CBSE) class X examination results are likely to be announced today.

According to a statement issued by CBSE on Tuesday, the results will be declared by 4 pm today.

The results will be available on the websites www.results.nic.in, www.cbseresults.nic.in, and www.cbse.nic.in.

Students have the option of receiving their results on their e-mail address by registering themselves on the websites. They can also call the number 011-24357276 to get their results.

The CBSE Class X examination results for the Chennai region were announced on Monday with an overall 99.66 pass percentage.

This year, the board is expected to announce only grades without naming any toppers. 

CBSE class XII examination results are expected to be announced on May 25.

Petrol prices hiked, diesel, LPG could be next

The Indian government decided to hike prices of petrol by about Rs 7.50 per litre on Wednesday evening. A ministerial committee is likely to meet on Friday to decide on a possible Rs 5 perlitre hike in diesel and Rs 50 per cylinder hike in cooking gas (LPG).

Petrol prices to go up by Rs 7.50 per litre

The government on Wednesday hiked the price of petrol by Rs 7.50 per litre. The hike will be effective from Wednesday midnight.

Oil minister Jaipal Reddy had on Tuesday said there was an immediate need to raise fuel prices, but had refused to say when the hike would actually take place.

The government had decontrolled petrol price in June 2010 but rates were last increased on November 4 last year. This despite oil price rising by 14 per cent and 7 per cent fall in value of rupee against the US dollar.

Rupee has more downside

The rupee, Asia's worst performing currency this year, still has room to fall further after policy missteps by a struggling government, said Swiss private bank Lombard Odier's chief investment officer for Asia.

"I do not see clear skies for India at the moment," said Pranay Gupta, Asia chief investment officer at Lombard Odier, which manages 145 billion Swiss francs for its clients.

"The rupee still has some more downside."

India's economic growth has slumped to a near three-year low and its current account deficit is the highest since 1980, a gap that is difficult to control when the rupee is at a record low.

The currency dropped to a record low against the dollar on Wednesday, sparking mild intervention from a central bank seen by traders as reluctant to be more aggressive against such a strong down trend.

The rupee has been battered by India's wide current account and fiscal deficits, global risk aversion fuelled by the euro zone crisis and sluggish economic policymaking.

"You have a few personalities which are hellbent on stifling any kind of prudent economic policies that are laid out, and you cannot have a governing structure which facilitates that," said Gupta. "Democracy today is a failed experiment in India."

Just this month, the government delayed plans to tax foreign investors after an exodus of funds, partly driven by concerns the tax could be applied retroactively, battered the rupee.

Bearish On Equities Now

Gupta, who sold all his personal stockholdings over the last three months, also expects further downside for equities due to the high probability of a messy break up of the euro zone and political uncertainty in the U.S.

He advised investors to buy short term Asian corporate bonds for income, but added that he may look to pick up equities around September after the situation in Europe and the U.S. improves.

As China shifts its focus away from an investment-led economy to a consumption based one, Southeast Asian countries that supply consumer goods to China including Indonesia stand to benefit, but export-oriented economies such as Taiwan may suffer.

5 people reported dead in crude bomb explosion in Allahabad

A crude bomb has exploded in Alalhabad's Kareili area .

Two children are among the five people reported killed.

The bomb was lying in a garbage dump.

Ragpickers were hurt when it went off and have been taken to hospital