US-based multinational Dow Chemicals has declined to share its wholly owned subsidiary Union Carbide Corporation's alleged past residuary liability towards compensating 1984 Bhopal tragedy victims and refused to submit to the jurisdiction of the Supreme Court of India, which is dealing with the Union government's plea for an additional Rs 7,844 crore to the gas victims. The UCC also took a stand similar to Dow Chemicals in not submitting to the...

-The Times of India   Terming the government's attempt to allow foreign direct investment in multi-brand retail as a miscalculation that lacked political consensus, BJP leader Yashwant Sinha has warned that a looming slowdown needs urgent measures to remove supply side blockages. The former finance minister, who heads Parliament's standing committee on finance, said unlike in 2008, the government has no room to increase the fiscal deficit that is already above 5% while...

The Bihar Government on Thursday approved the draft of the State Lokayukta Bill, 2011 after a Cabinet meeting took the decision to this effect. The Bill is expected to be passed during the State Legislature's Winter session, which commences on Friday. However, the Bill's provisions and amendments would be clear only after it had met with approval from the Governor's office and discussed threadbare by all parties in the Legislature, said Cabinet...

The winds of democracy are making it harder for India to negotiate the construction of mega hydel projects in Bhutan. Fixing terms and conditions for bringing power from Bhutan was a cakewalk with the first three hydel projects five years ago. With newspapers other than the Kuensel , a tiny but vocal Opposition in Bhutanese Parliament and exiled leaders raising issues relating to sovereignty, Indian officials are now having to work...

-CNN-IBN   "Many said that Kentucky (KFC) will drive the dhabas out of the market. The dhabas have driven out Kentucky. The Indian sherbet is still there despite Coca Cola and Pepsi. Don't underestimate India." That was former NDA finance minister Jaswant Singh in 2004 when he supported FDI in retail. "Fifty per cent of our population, comprising of small traders, street-vendors and the self-employed, sustain themselves through retail businesses. The UPA government...