The class bias in government policy is clear in the decision to release a small amount of foodgrain in the open market to tackle inflation. MOST people would agree that there is a strong element of speculation underlying the current inflation and that forward trading contributes to it. Yet the government, though it has banned forward trading in certain commodities under public pressure, is curiously reluctant to see this point....

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

Somalia is the world's most corrupt nation, according to Transparency International's 2010 Corruption Perception Index. The 2010 CPI shows that nearly three quarters of the 178 countries in the index score below five, on a scale from 0 (perceived to be highly corrupt) to 10 (perceived to have low levels of corruption), indicating a serious corruption problem. New Zealand, Denmark and Singapore are the least corrupt countries in the world, according...

The term ‘money laundering’ is said to have originated from mafia ownership of Laundromats in the US. Gangsters there were earning huge sums in cash by extortion, prostitution, gambling and bootleg liquor. They needed to show a legitimate source for these monies. Money launderers now resort to the use of apparently legitimate commercial transactions to camouflage their laundering activities. There has been an increasing amount of interest of late in commodity...

As world leaders and wealthy business executives prepared to mingle and chat at the World Economic Forum , U.N. figures revealed Tuesday that 205 million people were unemployed last year in the wake of the financial crisis and that little improvement was expected in 2011. The International Labor Organization said the number of jobless worldwide held steady last year and is forecast to dip less than 1 per cent this year...