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World Bank report published in a London based news daily, ‘Guardian’, says that the global food scarcity and soaring inflation is because of increasing production of Bio-fuels in America.

President George W Bush’s accusation on China and India for causing inflation and scarcity of food has been substantiated proved wrong by this report published on Friday. The report further said that Bio fuel production which mainly uses food crops like Maize, rapeseed and soybean hiked the price to 75 %. This statement also proved wrong the president Bush’s claim of 3% rise in prices.

More then 100 million people would be affected with inflation and food scarcity. The European countries like America are widely depending on Bio fuels is the only issue of inflation and the scarcity of food grains.

At the same time, the growth of the food grains is not on par with developing economy in some countries, is also another major factor. The uncontrollable surging prices of food grains pushed millions of families into famine. Families are left on modest diet because of soaring inflation rate and increasing food prices. A common man is unable to meet their daily requirements and govt. is unable to find any solution to stop this crisis.

Tags: America, Biofuels, food problem, India, London, USA, World Bank

Mahatma Gandhi, the greatest figure of peace and violence, who is adored all over the world has given a little respect in the reputed museum Madame Tussauds in London where Gandhi’s statue was recently removed from the gallery of national leaders and placed next to an ice-cream stand, close to a dustbin in an isolated corner on the second floor.

The shocking incident, spotted by Ahmedabad resident V.K.Saxena on a business trip to London last month, has provoked a protest of a different kind this time around.

V.K. Saxena, the president of Ahmedabad NGO National Council of Civil Liberties (NCCL), shot off a letter regarding the issue to British Prime Minister Gordon Brown immediately after his return to India.

In his letter, Saxena wondered this intolerable and careless happening and requested to place the statue at its earlier position.

“Is this not a racial bias against India and its role models of historic reverence?” Saxena wrote.

“It is not acceptable that the Father of Indian Nation is treated in such a careless manner, by placing his statue at a location where food is served, consumed, wasted and spilled,” Saxena added.

Copies of this letter were sent to the India Prime Minister, Leader of Opposition, Lok Sabha Speaker, UPA chairperson Sonia Gandhi and others.

Initially when contacted the management of the museum denied such happening but when a photograph that Saxena had clicked was sent to the museum as a proof, the story took a turn. The management apologized for this action saying that it was just temporary shifting of the statue.

PR manager Ben Lovett sent an email admitting, “Mahatma Gandhi’s figure was recently, and very briefly, moved to the popular Stardom area of our attraction, owing to essential maintenance work being carried out in our Political Leaders Zone, his usual home.

“Seeing your photo, we acknowledge we were not scrupulous enough in the positioning of the figure, for which we apologize.” Lovett added that “the figure has been back on display - pride of place - in our Political Leaders Zone for a number of weeks now.

Where Bollywood stars are placed in special attraction zones of the museum, the shifting of the wax statue of such a great leader to such a filthy place is really shameful and intolerable. Madame Tussuad’s management deserves to apologize for their action and needs a careful management in future.

Tags: Gandhi, India, London, Mahatma Gandhi

Oil Prices set a historic record of above $115 per barrel on Thursday as a fall in US gasoline inventories lead to a shortage in supply.

US crude set a new high of $115.45 a barrel and by 0830 GMT was trading at $115.08, up 15 cents. Last Wednesday it was showing 114.20 a barrel, up 41 cents then previous day. London’s Brent North Sea crude for June struck its own record high of 112.35 dollars on Wednesday. It later stood at 111.96 dollars, up 38 cents.

“It’s very much the dollar that’s (behind) the increase,” said MF Global analyst Robert Laughlin.

The weakness of the dollar continued to attract investors into oil and commodities to hedge against inflation and bet oil’s five year rally would help compensate for shrinking values of dollar assets in their portfolio amid a slowing US Economy. The dollar fell to an all-time low against euro on Wednesday.

“The market was already in a bullish frame of mind prior the data partly buoyed by further confirmation that China continues its lust for oil,” MF Global said.

“Summer driving season is approaching. And even in a recessionary Economy, seasonal gasoline demand will pick up, which adds to stress on the global oil supply chain,” Jan Stuart, economist with UBS, said in a research note.

“But before we get there, the stress already put onto the supply chain globally by middle distillate demand and supply dynamics is not still abating.” He said.

Tags: Crude Oil, London, Oil Prices, Prices

The issue of Tibet is raising all over the globe and China is in a bit of pressure due to this. The Olympic torch parade fall into anarchic scene. Violence and chaos disrupts the passage of Olympic torch in London so an extraordinary last minute shift was made to the road relay to a bus due to security reasons.

Olympic torch is facing the protests all over the world and even in India there is a threat of protest. On the street of London scene was marked with the noisy protests against China’s human rights record as hundreds called for Beijing to “free Tibet”.

Around 35 protesters were arrested for their attempt to disrupt the parade and manhandle the torch. After an unpublicized change to the route, the Chinese ambassador Fu Ying carried the torch through the relatively safe Chinese-dominant area of London, Chinatown.

Tags: China, India, London, Olympic, Tibet

India is ready to change the shape of Business world in coming 10 years along with China, Brazil and Russia. A study revealed that India will play an effective role in worldwide business by 2018.

A study by Chartered Management Institute of London includes business situations and prospects till 2018. It gives the view of work situation then and picture of management and how the organizations are ready to face that. According to study, countries like China, Brazil, Russia and India will put a heavy effect on the business. These countries will change the business sketch of the world. New business models are presented in response to these changes but there is a need of new talent likes to create an understanding of foreign culture and variety.

It is said that developing countries are growing economically hence migrants are willing to come back to their countries from west. This will lead to lack of man power in western countries. Study also said that Business structure and model will be changed n coming 10 years. Business based on group will replace global corporate. There will be a need of Technology blending with resources to hold success. Organizations will need to have more knowledge about global market. Many incidents which seem different of others can create some links to effect business.

Study also revealed that social protest among minority groups in China and India declines economy and violence in Iran, Pakistan etc. leads to move the business downward critically.

All the developing countries including India are successful in concealing loss in global economy and same is expected in future. A global firm Alliance Dresdner Economic Research linked with Germany’s Financial Services Information revealed this fact. According to the report, economical activities are sharp in India but there is no view of loss in America also. Russian economy has shown an increase by 8 per cent during 2007.

Export is decreased from America by these countries but there was export fro Europe and Euro become stronger than dollar. Overall there is no significant effect on export. There is an increase in prices of various commodities but developing countries have exporters of these commodities and they got profit also. Import is increasing compared to export and these countries have no problem because oh having sufficient foreign money and enough funds.

Tags: Brazil, Business, China, India, London, Russia, UK, US, World

Yahoo decided to shift its head quarters from Geneva, London. Britain’s new tax system is likely said as the reason behind this decision. Yahoo said that the departing of head quarters to Singapore will improve their financial status. Tax advisors told that Government had made the changes in tax rules to prevent the incoming of foreign currencies. Private Banks would have to remove its one-third business in the case from here.

Chancelor Alistayer Darlinagg said clearly in his budget speech that non-domicile tax of 30, 000 pounds will have to be paid by the Indians and other foreigners after 7 year live in UK. Before budget, Britain’s trade and industry committees demanded to make the structure of corporate tax easy.

On Yahoo’s decision the chief Richard Lambert of Confederation of British Industry said, “We agree that UK’s corporate tax system is non-competitive and we are very worried for this. Yahoo’s decision will strengthen our doubts.”

Richard Turner, Partner of Law firm Alen and Ovary said that banks are planning to leave the country after budget. Tax on foreign currency will make the situation more serious and people will hesitate to invest money in Britain. This way business of many billion pounds will be affected in London. Real Estate agents are also concerned with the situation and said that housing market will be affected by losing foreign currency like this. It is known that housing market in London is at boom because of Indian and China people.

Tags: London, UK, Yahoo