IBSA seek greater say for developing world

October 6th, 2009 BANGKOK - The World Bank has estimated that industrialised countries will have to pay developing nations $100 billion a year from now till 2050 to battle climate change. But there is no money nor any commitment on the table though over 4,000 delegates from 177 countries are squabbling here over who will govern the fund if it comes into being.

October 4th, 2009 ISTANBUL - Climate change could depress the economic output of Africa and South Asia by as much as five percent per year, the World Bank warned Sunday. The effects of a warming of the Earth's temperature by even two degrees Celsius could put up to 400 million people at risk of hunger and leave up to two billion lacking enough water resources.

September 25th, 2009 Poor nations want compensation for economic crisisUNITED NATIONS — Developing nations are urging the industrialized world to acknowledge its responsibility for the global economic and climate crises and to compensate them for the damages these have caused. Yemeni Foreign Minister Abu-Bakr al-Qirbi, who chairs the Group of 77 that represents 132 developing counties, says the U.N.

September 25th, 2009 PITTSBURGH - Prime Minister Manmohan Singh Friday predicted a 6.3 percent growth for India during the current fiscal even though he saw a dip in the economic expansion of developing countries as a whole to 1.5 percent. "Despite a drought, which will affect agricultural production, we expect to grow by around 6.3 percent in 2009-10," the prime minister told the plenary session of the G20 Summit here.

September 22nd, 2009 UNITED NATIONS - Asserting that India has not caused the climate change problem in any way, External Affairs Minister S.M. Krishna said New Delhi will be part of the solution, but the outcome must be rooted in equity.

September 5th, 2009 BANGALORE - External Affairs Minister S.M. Krishna Saturday said it was high time Pakistan acted against the perpetrators of Mumbai attack to prove that it was serious about fighting terrorism.

September 5th, 2009 G-20 pledge continued economic stimulusLONDON — The Group of 20 rich and developing countries have pledged to carry on with measures to boost the global economy, despite signs of a fledging recovery. At the end of a meeting here Saturday, G-20 finance officials also promised a crackdown on bankers' pay and committed to giving developing countries a greater say in international financial regulation.

September 4th, 2009 BANGALORE - India's Minister for External Affairs S.M. Krishna arrived here safely Friday from Dubai by a United Arab Emirates (UAE) flight after his previous flight to New Delhi had to make an emergency landing in Karachi late Thursday due to bad weather in the national capital.

September 2nd, 2009 NEW DELHI - Ahead of the G20 summit later this month, India has underlined the need for developing better surveillance and regulation to tackle the global financial crisis and stressed a bigger voice for developing countries in international financial institutions. "There should be better and transparent regulatory mechanism for capital markets as well as a stronger voice for developing countries, External Affairs Minister S.M.

September 1st, 2009 NEW DELHI - External Affairs Minister S.M. Krishna Tuesday called on Brazilian President Lula da Silva ahead of the fourth IBSA summit of India, Brazil and South Africa, and stressed the need for accelerating connectivity between the three emerging economies.

July 23rd, 2009 JOHANNESBURG - South African companies can use their capacities to reap benefits from the $500 million that India plans to invest by 2012 in infrastructure projects, according to vice-president of the Confederation of Indian Industry (CII) Hari Bhartia. Bhartia was speaking Thursday at the opening of a two-day conference, "Doing Business with India", here.

July 15th, 2009 Sharm el-SHEIKH - Indian Prime Minister Manmohan Singh Wednesday said the relevance of the Non-Alignment Movement (NAM has) never been greater than today and called for greater solidarity among members in tackling global challenges, including the financial crisis, energy security, climate change and the UN reforms. "History has shown that non-alignment is an idea that evolves but does not fade.

July 8th, 2009 LONDON - France and Brazil have backed India's call for the UN Security Council to be expanded as their leaders prepare to attend the G8-G5 meetings in Italy this week. "To be effective, the (Security) Council has to reflect current realities, notably by granting a greater role to the big developing countries of each region like Brazil and India and a fairer representation for Africa and the big contributors to the UN system like Japan and Germany," French President Nicolas Sarkozy and his Brazilian counterpart Lula da Silva said in a joint article published in the French daily Liberation Tuesday.

June 22nd, 2009 WASHINGTON/SEOUL - Most developing economies will slip into recession this year amid a global financial crisis that has prompted wealthy investors to pull their money out of projects for the poor, the World Bank warned Monday. The developing world will grow 1.2 percent this year after growing 5.9 percent in 2008.

June 16th, 2009 YEKATERINBURG - Leaders of Brazil, Russia, India and China (BRIC) Tuesday ended their first summit with a vigorous call seeking greater voice for emerging economies to create a more democratic world order and a bold agenda for mitigating the financial meltdown. Russian President Dmitry Medvedev, Indian Prime Minister Manmohan Singh, Chinese President Hu Jintao and Brazil's President Lula da Silva discussed a host of global issues, including the financial crisis, food and energy security, climate change and international terrorism.