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...Live, the Los Angeles-based entertainment company behind the concerts, invested more than $20 million to bring about "one of the greatest musical events in history," replete with 22 sets, high-wire acrobatics and elaborate pyrotechnic lighting. Just last week, producers revealed that Swarovski would crown Jackson, his costumes and the sets with 300,000 pieces of crystal, adding even more glitter to the massive 20,000-seat O2. (See pictures of people around the world mourning Michael Jackson...
...crop year could aggravate India's overall economic slowdown. "If production suffers, the [low] income effect will bring down rural demand, which has been buoyant so far," says Anjan Roy, Adviser for Economic Affairs at the New Delhi-based Federation of Indian Chambers of Commerce and Industry. "This, in turn, will affect industrial production." Inflation in India is deeply influenced by food and food-related items' prices. Wholesale, retail as well as futures prices of food items are rising every day. "If there's runaway inflation, it will altogether throw economic policy haywire," Roy says. "If the Reserve Bank...
...Prime Minister Manmohan Singh has asked officials to monitor the situation closely, and the relevant ministries and state governments are preparing contingency plans, including distributing drought-resistant seeds, encouraging farmers to grow crops that require less water, and even implementing cloud seeding programs to bring on rains. Experts expect tax breaks and price supports in the budget to be announced early next month. Roy of FICCI says the worst may yet be averted. "Last year the agricultural season was good and procurement was higher than normal," he says, "But the government can start taking preparatory steps such as imports...
...government now predicts that the late monsoon will still bring 93% of an average year's rain. "We're still hoping the rains will come," says K.R. Koundal, director of research at the New Delhi-based Indian Agricultural Research Institute, the government-run institute for agricultural research, education and extension. But for this to hold true, there will have to be moderate to heavy rains from June through September to make up for the shortfall, and even a 7% gap has economists and agricultural scientists worried. India's long stagnant agriculture sector, which has grown only 2% over the last...
...calm." "We just wanna make some bread, take care of our lives and our business." "The ones who are rioting aren't of the people. I don't think that they're part of the people." "It's been several days that I haven't been able to bring my son and daughter to the park because of the violence." And so on. (See pictures of the turbulent aftermath of Iran's presidential election...