Microcredit lifted 10 million Bangladeshis out of poverty between 1990 and 2008, according to a report. The work of Grameen Bank and others helped many families to raise their income above $1.25 a day, said the US-based Microcredit Summit Campaign. The study follows recent criticism of microfinance, which works by providing small loans to people to invest in generating their own incomes. Some experts argue the report may have missed the bigger picture. They...

The present situation is different from that of 2007-2008, although recent climatic events may significantly reduce agricultural production next season. Must history always repeat itself? We are indeed on the verge of what could turn out to be another major food crisis. The FAO Food Price Index at the end of 2010 returned to its highest level. Drought in Russia and the export restrictions adopted by the government, together with...

The coal ministry has rejected the Planning Commission’s suggestion to allow phased extraction of coal from prohibited areas saying that the robust demand for coal from expanding steelmakers and power generators fast outpaces the plan to mine in stages. The Planning Commission had mooted the idea of phased coal mining in about 203 coalfields, that were earlier declared out-of-bounds for mining by the environment ministry. But strong mining potential at the restricted...

The year 2010 ranked as the warmest on record – together with 2005 and 1998 – according to the United Nations World Meteorological Organization (WMO), which added that last year also witnessed a large number of extreme weather events, including the heat wave in Russia and the devastating Floods in Pakistan. In 2010, the global average temperature was 0.53 degrees Celsius (0.95 degrees Fahrenheit) above the mean for the period from...

Fast-growing emerging nations are taking increasingly aggressive actions to beat back rising food prices as they grow more worried of threats to stability if prices don't start to retreat. Developing-market governments have unveiled a laundry list of measures—including price caps, export bans and rules to counter commodity speculation—to keep food costs from disrupting their economies as price spikes that some had hoped were temporary have stretched into the new year. Some...