The world will have to spend an extra $500 billion to cut carbon emiss-ions for each year it delays implementing a major assault on global warming, the International Energy Agency said yesterday. Every year’s delay beyond 2010 would add another $500 billion to the extra investment of $10.5 trillion needed from 2010 to 2030 to curb carbon emissions, for example to improve ene-rgy efficiency and boost low-carbon renewable energy. Read Full Story

India’s finance minister Pranab Mukherjee promised yesterday the government would reduce the fiscal deficit. He said the government would cut the deficit to four per cent of GDP by 2012, down from an expected 6.8 per cent in the current financial year Read Full Story

The IEA forecast yesterday that the oil price, excluding inflation, would be $100 a barrel in 2020 and $115 in 2030, saying oil demand would rise by one per cent per year. Global demand would rise from 85 million barrels per day (bpd) last year to 105 bpd in 2030, assuming that forthcoming negotiations on global warming in Copenhagen did not result in immediate big changes in energy policies, the International Energy Agency (IEA) said. The average oil price this year would be about $60? per b... Read Full Story

Tucked into a grimy building in Guangzhou, a small band of Chinese master carvers chip away at ivory tusks with chisels, fashioning them into the sorts of intricate carvings that were prized by Chinese emperors. A passion for ivory ornaments such as these is what helped decimate African and Asian elephant populations until a 1989 ban on ivory trade. Today, China’s economic rise, and along with it a seemingly insatiable appetite for status symbols by its nouveau riche, has spurred demand... Read Full Story

Asian nations to continue with their big stimulus packages for now, advocating a slow withdrawal of support at the right time Asia-Pacific finance chiefs, anxious about the potential for a “double-dip recession”, will keep lavish stimulus spending in place for now, according to a draft statement yesterday. The statement is set to be released on Thurs-day by finance ministers of the 21-member Asia-Pacific Economic Cooperation (APEC) forum ahead of a weekend summit joined by US Pres... Read Full Story

As Demi Moore speaks out about ageism in the Hollywood film industry, Jane Plunkett asks why men are considered attractive as they age, while older women are just regarded as over-the-hill George Clooney, 48, with his greying hair and sun beaten features, hooks up with 28-year old Sarah Larson and the media calls her a ‘lucky girl’ to be dating such a stud. Brad Pitt, 46, falls for Angelina Jolie, who is twelve years his junior, and nobody bats an eyelid about the age difference -... Read Full Story

What exactly is Manic Monday then? It’s a great new promotion at Spaces salon in the Oasis Centre where, each Monday, selected treatments - such as waxing or massages - are 50 per cent off the original price. Also, each Monday the salon invites a different charity or artist down to sell their wares or exhibit their goods to raise awareness and funds for a good cause Read Full Story

New Zealand fly-half Dan Carter will be able to face England after receiving only a one-match ban for his high-tackle on Wales’ Martin Roberts during the All Blacks’ 19-12 win last week. Carter escaped censure at the time but was later cited and appeared before IRB judicial officer Jeff Blackett yesterday. Blackett slapped the world’s No.1 fly-half with the one-match ban after noting that he had a good disciplinary record and had never been sent off in his career Read Full Story

The 7th and final ODI at the DY Patil Stadium faces a huge rain threat tomorrow. The series has already been sealed by the visitors 4-2 and they have gone to the extent of sending back two key players – Shane Watson and Mitchell Johnson to Australia. Team India would love to get a consolation win but rain could play the spoilsport as it did today by not allowing the players to practice Read Full Story

Bangladesh and India will meet in the opening match of the 2011 World Cup at the Shere Bangla National Stadium in Mirpur on February 19. India and Bangladesh the co-hosts of this 10th Cricket World Cup are clubbed together in Group B. Sri Lanka is the third host country while Pakistan had lost the opportunity because of its security problems Read Full Story