As bank gears up for competition, it may further dilute environmental safeguard policies WITH financial institutions of emerging economies like India and China getting big time into development lending, the World Bank plans reforms to attract its borrowing countries. Some of the important plans are to disburse loans faster and on flexible terms. Bank watchers and civil society groups say the reforms, expected to be in force by the year-end, would...

-The Hindu   Study finds higher levels of lead in Nepal, Bangladesh Indian paint majors are showing their true colours in neighbouring markets, by including dangerously high levels of lead in their products, according to a study conducted by some non-governmental organisations in India, Nepal and Bangladesh. For example, Asian Paints' Golden Yellow shade of paint contains only 90 ppm (parts per million) of lead in India, meeting international standards. In Nepal, it...

The Orissa government suspends the land acquisition for the Posco project in the face of stiff opposition from the people. SIX years ago, when the South Korean steel giant Posco arrived in Orissa with the biggest ever foreign direct investment that had come the country's way, it was expected to help rid the economically backward State of its ‘poor' tag and bring prosperity. Posco had won the $12 billion deal at...

When he drank poison on January 11, farmer Hargovind Harne’s run-down hut was bursting with freshly harvested paddy. Yet he was neck-deep in debt. Even the bottle of pesticide that he used to take his own life had been bought on credit, as the bill shows. His large stock of grain wasn’t the only puzzle in the 47-year-old’s suicide. Vidarbha is infamous for continuing suicides by cotton farmers but Harne grew food,...

In early 1993 the late Mahbub ul Haq, Pakistan’s finance minister in the first Benazir Bhutto government and by then the famous architect of the United Nations Development Programme’s (UNDP’s) Human Development Report, called me and asked me to defend the economic record of democracies in the developing world at a UNDP conference. “Many in Asia argue,” he said to me, “that non-democratic countries have done better both in recording higher...