The climate talks ended with uncertainty over the continuation of the Kyoto Protocol and no agreement on binding emission reductions. The difference between optimists and pessimists is that the optimists have more fun, joked Elias Freig-Delgado, a member of Mexico's Ministry of Finance Special CO{-2} Task Force and the working groups of the U.N. High-Level Advisory Group on Climate Change Financing. Mr. Delgado was speaking at the Forest Day meeting during...

This week’s good news on food price inflation was evened out by the bad news on fuel prices hike. But, both were along expected lines. Thanks to the so-called “base effect” — the fact that last year this time food prices were rising sharply and since last year’s prices become the denominator in this year’s price ratio, the rate of inflation would be expected to moderate — and to an...

Pawan Goenka noticed something unusual last year—tractor sales were climbing even though India had its worst monsoon in more than three decades and farm output dropped 2.8% in the three months to December last fiscal. The umbilical cord that tied rainfall patterns and tractor sales seemed to have been ruptured. The president of auto and tractor maker Mahindra and Mahindra Ltd offers an interesting explanation to this puzzle: growing labour shortages...

Global temperatures from November 2010 are similar to those observed in November 2005 The year 2010 is almost certain to rank in the top three warmest years since the beginning of instrumental climate records in 1850, according to data compiled by the World Meteorological Organization (WMO) that were released here on Thursday. A WMO statement said the global combined sea surface and land surface air temperature for 2010 (January–October) is now estimated...

India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...