Obama administration officials say they are concerned India may run afoul of a new US law restricting payments for Iranian oil, forcing the White House to impose sanctions on one of its most important allies in Asia.

So far this year, India is failing to cut back its purchases of Iranian oil, which may force President Barack Obama to impose penalties as early as June 28, according to several US officials.

India's businesses, already facing high interest rates and a global economic slowdown, worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget set for release on Friday to trim the fiscal deficit.

After a drubbing in recent state elections, the government has little room to cut subsidies costing 2.5 per cent of GDP. But without fiscal consolidation, the Reserve Bank of India will have a harder time lowering interest rates without stoking inflation.

Contrasting lessons from Germany's 20-year pursuit of solar and wind power shows how other countries might create industrial champions to develop new energy technologies.

A growing number of national and regional governments are likely to use voluntary carbon credits to meet mandatory climate targets, a report by U.S.

South Korea's parliament has delayed a vote on an emissions trading scheme scheduled for Thursday because of political wrangling between the government and opposition ahead of parliamentary polls i

Global planemaker Airbus joined a chorus of concern that a European scheme to charge airlines for carbon emissions risks triggering a full-blown trade war, with implications for plane deals and eve

New Delhi India maintained its position as the fourth largest steel producer in 2011, despite 5.7 per cent output growth as against the world average of 6.8 per cent, the World Steel Association (WSA) said.

Recording an increase of 6.8 per cent in 2011 over 2010, global steel production hit a record 1,527 million tonnes. On the other hand, India produced 72.2 million tonnes steel last year over 68.3 million tonnes in the previous year.