-Financial Times Up to 80 per cent of the world’s middle classes will live in developing countries by 2030 thanks to surprising recent gains in poverty reduction, according to a United Nations report published on Thursday. “Never in history have the living conditions and prospects of so many people changed so dramatically and so fast,” concludes the UN’s latest Development Report. “The world is witnessing an epochal ‘global rebalancing’.” This year’s report, launched...

-The Hindu Most of them were conned into coming to Bangalore Bangalore: Officials of the Revenue Department and the Tahsildar’s Office (Bangalore South) raided a private brick factory in Channenahalli near Tavarekere on Bangalore’s outskirts and rescued 14 bonded labourers on Thursday. Amongst the rescued were five women and six children, who were freed from the CGR factory owned by two brothers — C.R. Lokesh and C.R. Mahesh — a rescue team member...

-Outlook Indore: Lokayukta Police today arrested a village panchayat secretary for allegedly accepting a bribe of Rs 3,000 from a physically handicapped man in exchange of financial aid to him under Indira Awas Yojana scheme. Panchayat secretary of Tigariya village, Dilip Patel was arrested in Khandwa district on complaint of Vinod Shankarlal, Lokayukta police said. Shankarlal was set to get Rs 45,000 under IAY to construct a house, out of which he had...

-First Post While the average Human Development Index (HDI) for the region is 0.558, below the world average of 0.693, South Asia saw the highest growth in the index between 2000 and 2012, according to the United Nations Human Development Report 2013. The region registered an annual growth of 1.43 percent in HDI, the highest compared to other regions. It also said that the developing countries as a whole are driving the...

-The Times of India The Reserve Bank of India having opened the window for new bank licences, the postal department is finalizing the blueprint to set up a bank of its own at your neighbourhood post office, a move that will challenge the dominance of large public sector lenders in smaller towns and rural India. While the department already has a balance sheet of Rs 6.18 lakh crore, which includes deposits of...