Reliance Capital acquire 5-per cent in Network 18

14 May 2007

Network 18 Fincap Ltd. has a 49.18-per cent stake in Television Eighteen India Ltd., which operates the CNBC-TV18 and CNBC-Awaaz channels. Network 18 also holds a 38.95-per cent stake in Global Broadcast News Ltd., which runs English news channel CNN-IBN and Hindi news channel IBN 7.

Study warns of environmental impact of biofuels
The drive to switch over to biofuels could lead to rising food prices and deforestation, warns a study by the Co-op Insurance Society. The study was released within days of a UN report with similar warnings that said that bio fuels are more effective when used for heat and power, rather than in transport.

Biofuels are non-fossil fuels made from vegetable matter that burns and are seen as a potential solution to climate change because they it reduce emissions of greenhouse gases.

The study assumes significance as countries seek to reduce their dependence on oil and petroleum products in a bid to contain environmental damage on the one hand and reduce their dependence on the rising prices of oil.

The Co-op report claims there is a future for biofuels, but current targets for growing so much fuel could have unintended consequences. The report says that around nine per cent of the world''s agricultural land may be needed to replace just 10 per cent of the world''s transport fuels.

This means the production of biofuels could lead to a decrease in land available for food production in countries where famine already exists.