These are the best of times; these are the worst of times. Charles Dickens' famous words describe the present state of European Union-Russia relations perfectly. There has never been as much trade and business between Europe and Russia. Yet political tension has not been this intense since the days of the Soviet Union.

SOUTH KOREA'S POSCO said on Thursday it was considering a rise in steel prices, easing fears that rising raw material costs will hit its earnings, and lifting its shares to a four-week high. The company, the world's fourth largest steelmaker, also said it may bid for Daewoo Shipbuilding, which analysts say could fetch nearly $5.1 billion, and was considering buying a stake in a Chinese firm. "We are considering raising steel prices but details in terms of the timing and the level of the price hike haven't been decided,' a POSCO spokesman said.

South Korea has purchased the first shipment of genetically modified (gm) corn for use in food industries. By the first week of March, the Korean Corn Processing Industry Association bought

The new government of South Korea, among the world's largest emitters of greenhouse gases, plans to cap emissions at 2005 levels for the next five years despite Seoul's exemption from cuts under t

The new government of South Korea, among the world's largest emitters of greenhouse gases, plans to cap emissions at 2005 levels for the next five years in spite of Seoul's exemption from cuts under the Kyoto protocol. The environment ministry presented the proposal to freeze emissions until 2012 in a report to Lee Myung-bak, the president, in a bid to join international efforts to fight global warming.

The Demilitarised Zone between North and South Korea, bristling with tanks and artillery, has also become a favourite haunt of over 60 endangered species.

South Korean president-elect Lee Myung Bakandhis administration will increase the country's share in the global renewable energy market in an effort to help boost economic growth. The new government aims to increase the share to 5% by 2012from 0.8% now, according to a statement from the climate change and energy taskforce of Lee's presidential transition committee. South Korea, which imports 97%of its energy and mineral needs, will join Japan in encouraging factories and power stations to use cleaner fuels to reduce greenhouse gases blamed for global warming. Lee will seek to export nuclear reactors for commercial use the taskforce said in the statement.

If the Doha Round of negotiations of the World Trade Organisation (WTO) is stalemated, a great part of it is because of the resistance of small farmers, including those in Asia. One of the terrible truths of the 20th century is that it was a blight on small farmers or peasants everywhere.