-IANS Facing a slow-down in the economy, the government has launched an austerity drive to reduce expenditure, banned new posts and meetings in five-star hotels besides restricting foreign travel. The finance ministry, which issued the office memorandum on "Expenditure Management - economy Measures and Rationalisation of Expenditure" Thursday also asked all ministries to reduce non-Plan expenditure by 10 percent in 2012-13. "There will be a total ban on holding of meetings and conferences...

-The Telegraph The Centre has renewed efforts to forge a consensus on allowing foreign direct investment in multi-brand retail by writing to all chief ministers, seeking to drive home the urgency against the backdrop of grim economic data. “Letters have been written to all chief ministers to build consensus to open up the multi-brand retail sector to FDI,” a commerce ministry official said. The statement came a day after the country posted its...

-The Economic Times Allan J Lichtman's answers are brief and to the point. But by force of habit, he seems to love questions - he answers them animatedly, like professors who are used to keen listeners. This energetic American University professor of history is the one who has predicted correctly the results of all US presidential polls since 1984. "I have always been anxious," says he of the mood in the run-up...

-The United Nations Almost 21 million people worldwide are trapped in jobs into which they were coerced or deceived and which they cannot leave, according to new estimates released today by the United Nations labour agency. Released by the International Labour Organization (ILO), the 2012 Global Estimate of Forced Labour found that the Asia-Pacific region accounts for the largest number of the 20.9 million forced labourers in the world – 11.7 million,...

-Reuters SUPALI: Two years ago, Vilas Yelmar took out a 200,000 rupee ($3,610) bank loan to develop a small grape orchard in a dusty hamlet southeast of Mumbai. The bank has repeatedly asked for the loan to be repaid, but Yelmar, whose annual income has risen to 2 million rupees, has spent the money on a new sport utility vehicle and a lavish family wedding. He is one of an increasing number...