-Reuters Global commodity prices have not softened as much as anticipated as speculators are keeping prices high, Finance Minister Pranab Mukherjee said on Tuesday in a statement. Oil prices held near $107 a barrel on Tuesday as fresh sanctions, and the prospect of military action, against Iran offset persistent worries about the health of Western economies and Fuel demand.  ...

The climate change negotiations are deadlocked because of a basic difference of approach. Developing countries are calling for enhanced implementation of existing agreements, while developed countries are insisting on a new agreement that would shift a large share of their obligations to the shoulders of developing countries, particularly the ‘newly emerging economies’ like India and China. The European Union is calling for negotiations on a new agreement to replace the...

CHANDRAWAL, India—Satbir Sharma's wife is dead. His family lives in fear. His father's left leg is shattered, leaving him on crutches for life.   Sharma's only hope lies in a new law that gives him the right to know what is happening in the investigation of his wife's death. Most of all, he wants to know what will happen to the village mayor, now in jail on murder charges. He talks quietly, under...

The anti-corruption movement has enabled the Indian middle class to feel smug about itself. Its members have gone through a vast range of emotions during the last two decades, from self-hatred to self-righteousness. Liberalisation of the economy has created for this class an excitement of many kinds. It has meant the freedom to pursue the quest for wealth without guilt and, at the same time, it has meant feeling set...

State oil firms are under the scanner of the Comptroller & Auditor General of India for supplying diesel at a discount to defense establishments and Indian Railways and claim compensation on the revenue loss from upstream companies and the government. Executives in state-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum have accepted that they offer small discounts to these customers and denied recovering any part of the amount from the...