Senior United Nations officials today called for urgent steps to rein in the rising prices for basic farm produce, petroleum and raw industrial materials whose volatility hits the world’s poorest people the hardest.     “Such volatility has huge negative impacts on vulnerable groups, such as low-income households in developing countries, for whom food expenditure can account for up to 80 per cent of household budgets,” UN Conference on Trade and Development...

A large number of villagers who have been opposing land acquisition for the proposed 12 million tonne capacity steel plant project of Posco-India Private LIMited in Orissa are now in no mood to give up their struggle already in its sixth year. A day after Union Environment and Forests Minister Jairam Ramesh granted conditional clearance to the company's steel-cum captive power plant and a captive minor port, hundreds of men and...

In its bid to put in place a concrete anti-corruption mechanism, the government has asked the chief justices of all 21 high courts in the country to fast track pending graft-related cases by ensuring decisions are taken within a definite time period. Following the setting up of a nine-member group of ministers (GoM) to finalise a framework to tackle corruption, law minister M Veerappa Moily, in his letter to the...

Billions of dollars are being made by investors in a speculative "food bubble" that's created record food prices, starving millions and destabilising countries, experts now conclude. Wall Street investment firms and banks, along with their kin in London and Europe, were responsible for the technology dot-com bubble, the stock market bubble, and the recent U.S. and UK housing bubbles. They extracted enormous profits and their bonuses before the inevitable collapse of...

Foreign direct investment (FDI) rules in agriculture may be relaxed, albeit only in non-farm wasteland and degraded lands. The Union ministry of agriculture and the department of land resources under the ministry of rural development have given "in principle approval" to a proposal of the Department of Industrial Policy and Promotion (DIPP) to invite FDI for developing non-arable land through better technology into fertile and cultivable land. Currently FDI in agriculture is...