India's Rank in "Corruption Countries List"

India has been ranked a lowly 74, two steps down since 2007, among 180 countries of the world on the worldwide Corruption Perceptions Index (CPI), prepared by independent international agency Transparency International.

However, corruption is much higher in Pakistan, which occupies 140th place, a little below Iran, Libya and Nepal, which are ranked 133, 134 and 135 respectively.

Meanwhile, China, which was ranked a joint 72 with India in 2007, slid a step down to occupy a place above its neighbour this year.

Among other Asian countries, Russia is placed still lower on 145 while Sri Lanka occupies 96th position and Maldives is ranked 90.

The least corrupt country in the region is the nascent democracy Bhutan, which has been placed at the 41st spot by the non-government organisation tracking prevalence of corruption worldwide.

Denmark, Finland, New Zealand, Singapore and Sweden corner the top five spots retaining positions as the least corrupt nations of the world, while bottom of table is occupied by Myanmar and Somalia.

The United States also retains its position and is ranked 20th, just below Germany, Ireland, Japan and France. Besides, Britain occupies the 13th spot and is just ahead of Hong Kong.

Yahoo's stock price bounced

Pic :Yahoo CEO Jerry yang :: :: Microsoft's Bill Gates

Yahoo's stock price bounced as investors flirted with rumours that Microsoft is once-again courting the floundering Internet pioneer. Neither company would comment on what, if any, talks are under way, but both firms dismissed the notion Microsoft has a renewed interest in taking over Yahoo.

Microsoft said its position has not changed since it released a June 12 statement saying it is "not interested in rebidding for all of Yahoo" but that an "alternative transaction remains available for discussion." The US software giant made the statement in response to Yahoo and Google announcing a deal to put the Internet search king's expertise to work pumping money from advertising posted next to Yahoo online search results.

Microsoft offered to buy Yahoo for $44.6 billion in stock and cash on January 31, but withdrew the offer on May 3, saying Yahoo refused to budge despite the software giant upping its bid to nearly $50 billion. While searching for a "white knight" to save it from Microsoft's clutches, Yahoo tested using Google's AdSense for Search service for two weeks in April.

The test showed that Google's methods generated more money than Yahoo's advertising platform. Microsoft was enraged by the experiment and warned that a Yahoo-Google partnership raises anti-trust concerns because it would cover some 90 per cent of online advertising.

Analysts believe an alternative deal of interest to Microsoft could involve buying Yahoo's Internet search business and merging it with its own in order to better battle Google in that arena. (AFP)

No Oil Increase till Sep : OPEC

The meeting of the Organization of the Petroleum Exporting Countries (OPEC) members and oil consumers in Saudi Arabia has failed to produce any solution to check rising oil prices.

Speaking at the meeting, India's Finance Minister P Chidambaram called for a fixed price band. Saudi Arabia has promised to increase production from 12 million barrels to 12.7 million barrels by the month of September.

However, OPEC remained skeptical and was divided on the issue of raising production.

The rising oil prices have fuelled protests across the world. And now rising oil prices are causing heartburn within the Organization of the Petroleum Exporting Countries.

The meeting of OPEC members called by Saudia Arabia wound down without arriving at any clear formula.

Chidambaram reiterated in the meeting that the consuming countries must guarantee that oil prices will not fall below an agreed level and producing countries must guarantee that oil prices will not rise above a guaranteed level.

Countries such as China and Britain stressed on the need to find new sources of energy. However, they were all unanimous on one issue that oil prices have to come down.

“In order to continue our constructive role in the market, and to further reassure those who are concerned about supply availability, the Kingdom is prepared to make additional quantities of crude oil available to the market,’ says Saudi Arabia Minister Of Petroleum, Ali Naimi.

OPEC president Chakib Khelil however chose to differ and claimed there was enough oil in the market to meet the demand. He said OPEC would consider the issue of raising production only in September, when they meet.

Meanwhile, with OPEC refusing to increase production, the world it seems will have to bear with the rising fuel prices.