EU trade commissioner said it will soon resolve the issue of confiscation of Indian drugs being exported to developing countries. EU Trade commissioner Catherine Ashton said a team of customs officials from the European Commission will be in New Delhi shortly to discuss the issue. “We talked about this issue. Our commitment on pharma, on generics is to find a solution that works for India,” she said after a meeting...

A UN Habitat publication warns that inequalities and worsening informal settlements (read slums) could lead to widespread violence and chaos in the cities and towns of the world. The newly-released report titled “Planning Sustainable Cities: Global Report on Human Settlements 2009” says that with almost 200,000 new dwellers flooding into the world cities and towns each day, there is an urgent need to check the mushrooming of such settlements. The...

The philosophy of self-aggrandisement defies social logic. Seven leading banks in the United States of America had last year incurred an aggregate loss of $82 billion; the chief executive officers of these banks nonetheless claimed and collected annual bonus to the extent of $38 billion. The economy might lie in ruins; that did not distract sharks from zooming in on their prey. Our corporate sector has shaped itself in the...

The Indo-Asean FTA provides an opportunity to be more engaged with the region This is an important week for Prime Minister Manmohan Singh. Over the weekend, at the Fourth East Asia Summit in Thailand, he will witness the final fruition of the second most important foreign policy initiative he took during his first term in office — the India-Asean Free Trade Agreement. This should ensure he will be in better...

Loss in food grains estimated at 16 million tonnes  Overall Kharif output can fall by 15 per cent Call for long-term strategy to tackle vagaries of monsoon Erratic monsoon this kharif could reduce the agricultural crop growth to -2 per cent year-on-year, down from an earlier estimate of 1.4 per cent, according to a Federation of Indian Chambers of Commerce and Industry (FICCI) report released here. The report, “Drought in...