Businesses and policy-makers need to recognize the tremendous economic value of ecosystems, as well as the social and economic costs of losing such natural resources as forests, freshwater, soils and coral reefs, a new United Nations report released today said. The report by the Economics of Ecosystems and Biodiversity (TEEB), a body hosted by the UN Environment Programme (UNEP), seeks to galvanize the world to recognize the economic consequences of failing...

India has opposed ban on the pesticide at Geneva meet, Forest Minister says India should not have become a ‘spokesman' of the pesticides lobby. Forest Minister Benoy Viswom has criticised the stand taken by India against global ban on Endosulfan at the sixth meeting of Persistent Organic Pollutants Review Committee to the Stockholm Convention at Geneva last week. “India's stand was not right. The general consensus at the meeting was in favour...

The Central Vigilance Commission has received complaints that put the cumulative value of alleged corruption in projects related to the Commonwealth Games between Rs 5,000 crore and Rs 8,000 crore. Sources said the complaints included payment to non-existent parties, wilful delay in execution of contracts, inflated prices and bungling in purchase of equipment through tendering. “The total misappropriation amount may touch a figure of Rs 5,000-8,000 crore. The commission is still awaiting reports...

The city has come to be known as the Detroit of India for its large concentration of automakers, but a series of labour disputes have rocked it, putting a question mark over industrial peace. Car markers such as Hyundai Motor India, German luxury car maker BMW and Ford Motor India besides Finnish handset manufacturer Nokia India have set up their plants on the city outskirts employing more than 23,000 people. As...

Two people committed suicide Monday in Andhra Pradesh after microfinance companies allegedly harassed them for non-repayment of loans. Opposition parties have urged the government to take action against the firms while a rights panel has asked police to submit the reports on suicides. While an auto driver committed suicide in Warangal district, a woman ended her life in East Godavari district. Another woman attempted suicide by consuming pesticides in Karimnagar district...