Singapore spot market, not production costs, driving Indian petrol price Have you ever wondered why when petrol prices go up or down they do so uniformly across the retail outlets of the three oil marketing companies — Indian Oil, Hindustan Petroleum and Bharat Petroleum? If they are three different companies with their own refineries and distribution systems, then surely their costs and selling prices must be different? Welcome to the strange world...

-The United Nations    Ensuring global food security while striving to save the Planet from damage are the greatest challenges of this century, a senior United Nations official said today, stressing the need to enable smallholder farmers to become more resilient to climate change and to produce more food in ways that are environmentally sustainable. “There is no trade-off between feeding people and saving our Planet,” said Kanayo F. Nwanze, the President of...

While Asian economies boomed before the global recession in 2008, the fruits of that progress did not translate into better wages or secure employment conditions for workers in the region. The International Labour Organisation (ILO)'s Asian Decent Work Decade launched in 2006 was aimed at five priority areas of competitiveness, productivity and jobs; labour market governance; youth employment, managing labour migration and local development for poverty reduction. Today workers' unions are...

-PTI   The United Nations has warned that the world is on the brink of another recession, projecting that global economic growth will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down.  The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6 per cent from 4 per cent in...

Farmers, a holy-cow constituency considered more valuable than small traders to the political class, have begun to ask uncomfortable questions to those opposing foreign direct investment (FDI) in retail. Several farmer groups, some of them led by politicians with ties to the Congress, have asked why some parties are standing in the way of a measure that is expected to reduce the clout of middlemen and increase farm earnings. Although Prime Minister...