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India has emerged as the world’s fastest growing economy. However, Asia’s third largest economy just ranked 97th among 118 countries in the Global Hunger Index (GHI) released by the <keyword id="108578" type="ORGANIZATION" weightage="20" keywordseo="International-Food-Policy-Research-Institute">International Food Policy Research Institute</keyword> (<keyword id="6557928" type="ORGANIZATION" weightage="20" keywordseo="ifpri">IFPRI</keyword>). This puts the country behind even <keyword id="6354759" type="COUNTRY" weightage="20" keywordseo="Bangladesh">Bangladesh</keyword>, <keyword id="41896" type="COUNTRY" weightage="20" keywordseo="Iran">Iran</keyword>, <keyword id="6355112" type="COUNTRY" weightage="20" keywordseo="Iraq">Iraq</keyword>, and <keyword id="6354767" type="COUNTRY" weightage="20" keywordseo="Nigeria">Nigeria</keyword> in the hunger map. 
 
India’s policy addressing hunger and malnutrition in all age groups has a feast of questions and a famine of answers. India’s hunger, being worse than any sub-Saharan country, needs crisis management and a long term vision. 
 
<a href="http://www.businessinsider.in/Excise-duty-in-cigarette-hiked-Tobacco-farmers-in-india-are-struggling-to-make-ends-meet/articleshow/56872791.cms">ALSO READ: Excise duty in cigarette hiked. Tobacco farmers in India are struggling to make ends meet</a> 
 Be it <keyword id="4227644" type="PERSON" weightage="20" keywordseo="manohar-das">Manohar Das</keyword> of <keyword id="4227647" type="UNKNOWN" weightage="20" keywordseo="tewri">Tewri</keyword> village in <keyword id="6360371" type="COMPANY" weightage="20" keywordseo="Jharkhand">Jharkhand</keyword>, who works in hundred days of wage-employment or <keyword id="4227646" type="UNKNOWN" weightage="20" keywordseo="shib-baksha">Shib Baksha</keyword> of <keyword id="4227645" type="UNKNOWN" weightage="20" keywordseo="amlasol">Amlasol</keyword> village in <keyword id="61773" type="COMPANY" weightage="20" keywordseo="West-Midnapore">West Midnapore</keyword> district of <keyword id="6357783" type="CITY" weightage="20" keywordseo="West-Bengal">West Bengal</keyword>, who works as contract labour at nearby village, the thin line that connects them is the ignorance about ‘<keyword id="2209492" type="UNKNOWN" weightage="20" keywordseo="Modi-Sarkar">Modi Sarkar</keyword>’. The only thing they understand by the government is getting staples at Rs 2/kg and free goodies. However, staples alone can’t fulfill nutritional needs, as a result they end up with stunted growth and other diseases. Not everyone is as lucky as them. Their neighbours, unable to procure <keyword id="49514" type="ORGANIZATION" weightage="20" keywordseo="bpl">BPL</keyword> (below poverty level) identity cards and Ration Cards aren’t entitled to these basic facilities and have to starve most of the days. Only feast they can think of is ant eggs roast during the scorching summer months. 
 
 
 
India’s overall GDP growth is expected to end at <a href="http://www.businessinsider.in/Excise-duty-in-cigarette-hiked-Tobacco-farmers-in-india-are-struggling-to-make-ends-meet/articleshow/56872791.cms">7.1% this financial year</a>, as compared to 4.6% two years back. While food still counts as the basic requirement of human existence, India is a country that not only produces enough, but ironically, there is never enough for its ever growing population to eat. Funnily, while millions go hungry, for <a href="http://www.businessinsider.in/Excise-duty-in-cigarette-hiked-Tobacco-farmers-in-india-are-struggling-to-make-ends-meet/articleshow/56872791.cms">India storage of surplus food</a> has always been a problem. 
 
 
 
India’s hunger-management disaster 
While development in many sectors is acknowledged, what is lesser known is that India has also made considerable progress on many social fronts, such as fertility decline, expansion of schooling and bridging the gender gap in education, especially at the primary and lower secondary levels. However, there is one <a href="http://www.businessinsider.in/Excise-duty-in-cigarette-hiked-Tobacco-farmers-in-india-are-struggling-to-make-ends-meet/articleshow/56872791.cms">area of human development</a>, where India has been a disaster: tackling hunger and malnutrition. 
 
Child malnutrition rates in India are extraordinarily high- among the highest in the world, with nearly one-half of all children under 3 years of age being either underweight or stunted. Indeed, <a href="http://www.businessinsider.in/Excise-duty-in-cigarette-hiked-Tobacco-farmers-in-india-are-struggling-to-make-ends-meet/articleshow/56872791.cms">child malnutrition rates </a>are higher in India than in many countries of sub-Saharan <keyword id="12925" type="ENTERTAINMENT" weightage="20" keywordseo="Africa">Africa</keyword>, even though income levels are significantly higher and levels of infant and child mortality are lower in India. 
 
 
 
Pediatric malnutrition Prevalence of child malnutrition in India has remained stubbornly high even after nearly a half-century of respectable agricultural productivity growth and two decades of post-reform economic growth and prosperity in the country. Adding more support to the view that child malnutrition is weakly correlated with income is the finding that among children of mothers with 10 or more years of schooling as well as mothers from the top income quintile, around one-quarter are underweight. Even in a relatively prosperous and dynamic state like <keyword id="6354766" type="COMPANY" weightage="20" keywordseo="Gujarat">Gujarat</keyword>, child malnutrition rates have been stagnant over the past decade. 
 
<a href="http://www.businessinsider.in/heres-how-indepay-is-making-rural-india-cashless/articleshow/57232771.cms">ALSO READ: HOW INDEPAY IS MAKING RURAL INDIA CASHLESS</a> 
 The <keyword id="121300" type="ORGANIZATION" weightage="20" keywordseo="National-Family-Health-Survey">National Family Health Survey</keyword> (NFHS) found that a <a href="http://www.businessinsider.in/heres-how-indepay-is-making-rural-india-cashless/articleshow/57232771.cms">significant number of adults</a> in India suffer from malnutrition. Almost 58 per cent of pregnant women aged 15-49 were found to be anaemic. The Global Food Security Index also revealed that Indians lack adequate quantities of iron, <a href="http://www.businessinsider.in/heres-how-indepay-is-making-rural-india-cashless/articleshow/57232771.cms">Vitamin A and protein in their diets</a>. 
 
 
 
“Half of the children who die before five years of age have malnutrion as a cause in their pathogenesis. If we look at proportion of weight at birth, 23 per cent of children weigh less than 2.5 kg, which is below normal. This low birth weight has its reason in the womb, which is where they are malnourished already before being born. Low birth weight increases over time and so by the time they are three-years-old, half the children are malnourished. Because of poor sanitation we have widespread <a href="http://www.businessinsider.in/heres-how-indepay-is-making-rural-india-cashless/articleshow/57232771.cms">faecal oral contamination</a>. Water and food sources have high degrees of contamination and it results in diarrhoea and other gastro intestinal illnesses, which increases the child mortality rate,” said renowned public health specialist and activist Dr <keyword id="43944" type="PERSON" weightage="20" keywordseo="Binayak-Sen">Binayak Sen</keyword>. 
 
 
 
State of famine 
In 1943, three million people died in the infamous <a href="http://www.businessinsider.in/author_articles_all.cms?query=%22Suchayan%20Mandal%22&amp;author=Suchayan-Mandal-479239841">Bengal famine</a>. There was no shortage of grain in <keyword id="6356978" type="CITY" weightage="20" keywordseo="Bengal">Bengal</keyword> at that time, yet people had nothing to eat. Interpreting the Famine of 1943,<a href="http://www.businessinsider.in/author_articles_all.cms?query=%22Suchayan%20Mandal%22&amp;author=Suchayan-Mandal-479239841"> Nobel Laureate Amartya Sen </a>suggested that the reason for it was the breakdown of the social arrangement in distributing food. To put the matter in a world context, every three seconds somewhere around the world, a child dies of causes related to avoidable malnutrition. "In those three seconds, the world armaments industry spends 120,000 USD in order to keep the system responsible safely in place,” Binayak Sen told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword>. 
 
 
 
Ignorant policies that do the most harm Skyrocketing prices of daily food items spell more woe for the people, who are already paying "too much" to survive. International Fund for Agricultural Development’s (<keyword id="1367836" type="ORGANIZATION" weightage="20" keywordseo="IFAD">IFAD</keyword>) Rural Poverty Report-2011 states, “While international food prices have declined since mid-2008, they are still substantially higher than prior to the price surge, and they are likely to remain at 2010 levels or higher for the next decade.” The report has suggested that about 100 million of world’s rural and urban people have to remain hungry. 
 “It will remain high, the era of cheap food is over," said <keyword id="669006" type="PERSON" weightage="20" keywordseo="Richard-Mahapatra">Richard Mahapatra</keyword>, managing editor of Down to <keyword id="6359982" type="ENTERTAINMENT" weightage="20" keywordseo="earth">Earth</keyword>. "This is because productivity of agriculture is low and thus impacts production. This is the supply side issue. Also the rainfed areas that contribute a signifcant amount of foodgrain is not getting the policy focus. Even though the new second Green <keyword id="24385" type="ORGANIZATION" weightage="20" keywordseo="revolution">Revolution</keyword> is aimed at that, it seems to be flawed. Now, the demand side. Demand is increasing but we don't have robust distribution mechanism. So, it creates further price rise. Also, there is huge diversion of agricultural lands to other uses. Combined with low productivity, less lands and absence of distribution mechanism, we are set for high price rise.” 
 Due to the PDS (<keyword id="89442" type="ORGANIZATION" weightage="20" keywordseo="Public-distribution-system">Public Distribution System</keyword>) and the <a href="http://www.businessinsider.in/author_articles_all.cms?query=%22Suchayan%20Mandal%22&amp;author=Suchayan-Mandal-479239841">public wage programmes</a> starvation deaths have definitely come down, he contended. Often we call cheap food grain programmes as populist. They are indeed popular as poor find them useful and their starvation is avoided with this entitlement. 
 
 
 
Adult malnutrition 
“Roughly 33-35 per cent of the entire Indian population have a BMI below 18.5, which is indicative of calorie malnutrition. They aren't getting enough food to eat. More than one-third of India is on a chronic basis not getting proper food to eat. Low BMI is also restricting people’s immunity,” said Binayak Sen. 
 “Without addressing nutritional status, there can be no adequate development. Food Security Act does nothing for betterment of nutritional status of the poeple as such. <keyword id="250148" type="ENTERTAINMENT" weightage="20" keywordseo="The-Bill">The Bill</keyword> is like 'something is better than nothing'. Five kilos of wheat per person per month make two chapattis per day. With two chapatis the nutritional question isn’t answered. This terrible nutritional deficit is yielding polarization in society,” he added. 
 
Urban malnutrition 
In villages, people stay in close bond with each other, who can be approached for help in <a href="http://www.businessinsider.in/author_articles_all.cms?query=%22Suchayan%20Mandal%22&amp;author=Suchayan-Mandal-479239841">times of crisis</a>. Migrating people in cities start living in slums and ghettos, where they have to live with people unknown and untrustworthy. Moreover, people fight here to make ends meet, which actually leads to self-centric attitude. 
 
Red corridor hunger 
“People who are in chronic situation and stable famine are able to withstand only because of their access to natural resources like land, water and forest," opined Binayak Sen. "<a href="http://www.businessinsider.in/author_articles_all.cms?query=%22Suchayan%20Mandal%22&amp;author=Suchayan-Mandal-479239841">Access to this resources was unrestricted</a>. Designating the common properties as commodities that can be owned by corporates is restricting poeple’s right to access and in a way right to live. Any form of resistance is labelled as insurgency. First they try civil ways and then take recourse in military measures. People have to confront. Application of eminent domain needs to be questioned. Under 5th schedule, govt has to ensure people’s access to natural resources but there is not a single instances of government intervening.” 
 
“They have mapped it as red corridor but poeple’s deprivation hasn't been mapped yet," said Sen. 
 
"We need to relook at the arm forces and UAPA laws. Whole discourse in election has become restricted to attitudes to development. Development is about accessing resources. Nobody is saying there are vital issues involved. What is going to happen to the poeple whose right has been denied? State will not be thwarted in its course. There needs to be a contestaion in the level of people. They need to raise the issue.” 
 
Business Insider’s Take 
Agriculture contributes around 16 per cent to<a href="http://www.businessinsider.in/author_articles_all.cms?query=%22Suchayan%20Mandal%22&amp;author=Suchayan-Mandal-479239841"> India’s GDP</a>; it is coming down over the years. But still 60 per cent people depend on this. What does this mean? Is it that it is reliable as a source of livelihood or people don't have any other source thus depend on agriculture? In both the cases, shifting people out of agriculture is going to be a tough challenge. Industries or the service sectors have their own limitation and can't absorb such a huge number of people. Strategically, this will be a blunder as we kill out food self-sufficiency.

BI Investigation: India’s food nightmare is killing millions of
children across the country every day

The number of undernourished people in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> has declined in the last 15 years to 224.3 million in 2019-2021, according to a UN report, which also said that there are more obese adults and anaemic women in the <keyword id="6354507" type="General" weightage="80" keywordseo="world" source="Orion">world</keyword>'s second most populous country. The <keyword id="5004571" type="General" weightage="50" keywordseo="state-of-food-security-and-nutrition" source="Orion">State of Food Security and Nutrition</keyword> in the World 2022 report, issued on Wednesday by UN agencies <keyword id="397960" type="General" weightage="50" keywordseo="food-and-agriculture-organisation" source="Orion">Food and Agriculture Organisation</keyword> (FAO), International Fund for Agricultural Development (IFAD), UNICEF, <keyword id="49053" type="General" weightage="50" keywordseo="world-food-programme" source="Orion">World Food Programme</keyword> (WFP) and the <keyword id="6356311" type="General" weightage="50" keywordseo="world-health-organisation" source="Orion">World Health Organisation</keyword> (WHO), said that the number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020 and 150 million since the outbreak of the COVID-19 pandemic. The report said that in India, the number of undernourished people declined to 224.3 million in 2019 21 from 247.8 million in 2004-06. It said that the number of children under 5 years of age who are stunted declined to 36.1 million in 2020 from 52.3 million in 2012, the number of children under five years of age who are overweight declined to 2.2 million in 2020 from three million in 2012. However, the number of obese adults in India, which has a population of over 1.38 billion, grew to 34.3 million in 2016 from 25.2 million in 2012 and the number of women aged 15 to 49 years affected by anaemia also grew to 187.3 million in 2019 from 171.5 million in 2012. The report added that the number of children up to 5 months of age exclusively breastfed touched 14 million in 2020 from 11.2 million in 2012. In percentage terms, the prevalence of undernourishment in the total population in India stood at 21.6 per cent in 2004-06 and declined to 16.3 per cent in 2019-21, the prevalence of stunting in children under 5 years of age declined to 30.9 per cent in 2020 from 41.7 per cent in 2012 and the prevalence of overweight children under five years of age was 1.9 per cent in 2020 from 2.4 per cent in 2012. The prevalence of obesity in India's adult population increased to 3.9 per cent in 2016 from 3.1 per cent in 2012 and anaemic women aged 15 to 49 years declined marginally from 53.2 per cent in 2012 to 53 per cent in 2019. The report also noted that in India, people who were unable to afford a healthy diet touched 973.3 million in 2020 or nearly 70.5 per cent, up from 948.6 million in 2019 (69.4 per cent). In 2017, about a billion people were unable to afford a healthy diet in India and this number has declined to 966.6 million in 2018. The report noted that subsidies to consumers provided in Lower- Income Countries and Middle-Income Countries most often take the form of in-kind or cash transfers under the social protection programmes. India and Indonesia, for example, provide substantial subsidies to final consumers under the Targeted Public Distribution System for grains in India, and the food assistance programme (BPNT) based on electronic vouchers for rice, in Indonesia, it said. The most prominent example of a (Lower-middle-income countries) LMIC is India, where the food and agricultural policy has historically focused on protecting consumers by ensuring affordable food prices, through export restrictions (on wheat, non-basmati rice, and milk, among others) and through marketing regulations around pricing and public procurement, public food stockholding and distribution of a vast range of agricultural commodities, it said. As such, farmers have constantly faced price disincentives in aggregate terms (negative NRPs). Input subsidies and expenditure on general services such as in R&amp;D and infrastructure have been widely used as a means of compensating them for the price disincentives generated by trade and market measures, and for boosting production and self-sufficiency in the country, it added. The report noted that after remaining relatively unchanged since 2015, the proportion of people affected by hunger jumped in 2020 and continued to rise in 2021, to 9.8 per cent of the world population. This compares with 8 per cent in 2019 and 9.3 per cent in 2020. World hunger rose in 2021, with around 2.3 billion people facing moderate or severe difficulty obtaining enough to eat -- and that was before the Ukraine war, which has sparked increases in the cost of grain, fertiliser and energy, according to the report. The State of Food Security and Nutrition in the World paints a grim picture, based on 2021 data, saying the statistics should dispel any lingering doubts that the world is moving backwards in its efforts to end hunger, food insecurity and malnutrition in all its forms , it explained. It warned that the ongoing war in Ukraine, is disrupting supply chains and further affecting prices of grain, fertiliser and energy resulting in more price increases in the first half of 2022. At the same time, they said, more frequent and extreme climate events are also disrupting supply chains, especially in low-income countries. Ukraine and Russia together produced almost a third of the world's wheat and barley and half of its sunflower oil, while Russia and its ally Belarus are the world's No. 2 and 3 producers of potash, a key ingredient of fertiliser. Nearly 924 million people (11.7 per cent of the global population) faced food insecurity at severe levels, an increase of 207 million in two years. The gender gap in food insecurity continued to rise in 2021 --- 31.9 per cent of women in the world were moderately or severely food insecure, compared to 27.6 per cent of men --- a gap of more than 4 percentage points, compared with 3 percentage points in 2020. Almost 3.1 billion people could not afford a healthy diet in 2020, up 112 million from 2019, reflecting the effects of inflation in consumer food prices stemming from the economic impacts of the COVID-19 pandemic and the measures put in place to contain it. An estimated 45 million children under the age of five were suffering from wasting, the deadliest form of malnutrition, which increases children's risk of death by up to 12 times. Furthermore, 149 million children under the age of five had stunted growth and development due to a chronic lack of essential nutrients in their diets, while 39 million were overweight. This report repeatedly highlights the intensification of these major drivers of food insecurity and malnutrition: conflict, climate extremes and economic shocks, combined with growing inequalities, the heads of the five UN agencies wrote in this year's Foreword. The issue at stake is not whether adversities will continue to occur or not, but how we must take bolder action to build resilience against future shocks, it added. (By Yoshita Singh <keyword id="6355833" type="General" weightage="50" keywordseo="united-nations" source="Orion">United Nations</keyword>) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/golden-girl-p-t-usha-becomes-the-eighth-keralite-to-be-honoured-with-a-rajya-sabha-nomination/articleshow/92716060.cms">Golden girl P.T. Usha becomes the eighth Keralite to be honoured with a Rajya Sabha nomination</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-moves-to-boost-forex-inflows-could-have-an-impact-on-domestic-borrowing-rates/articleshow/92715761.cms">RBI's moves to boost forex inflows could have an impact on domestic borrowing rates</a>

India has fewer undernourished people now but obesity and anaemia are on the rise

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ADNOC</div></div></div><ul class="summary-list"><li>The annual Abu Dhabi International Petroleum Exhibition &amp; Conference (ADIPEC) is being held from November 11 to 14.</li><li>During his opening remarks, Dr. Sultan Ahmed Al Jaber - the CEO of the Abu Dhabi National Oil Company - officially announced a new deal to trade futures on a type of crude called Murban.</li><li>ADNOC will do so in partnership with Intercontinental Exchange, which will launch ICE Futures Abu Dhabi, or IFAD.</li><li>Energy executives from industry titans like BP, Shell, and PetroChina were on hand to join the festivities - and sign up as official partners.</li><li>The announcement was the talk of day one at ADIPEC. Here's what we saw.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>. </li></ul>ABU DHABI - Dr. <a href="https://en.wikipedia.org/wiki/Sultan_Ahmed_Al_Jaber" target="_blank" rel="noopener">Sultan Ahmed Al Jaber</a> couldn't help but smile.He'd just officially announced a new deal to trade futures on a highly valuable type of crude oil produced in his native United Arab Emirates, and the crowd had gone wild with applause.It was part of his opening remarks at the 2019 edition of the Abu Dhabi International Petroleum Exhibition &amp; Conference (<a href="https://www.adipec.com/" target="_blank" rel="noopener">ADIPEC</a>). In what was an otherwise straight-laced address - touching upon other timely subjects like sustainability and digitization - the CEO of the <a href="https://www.adnoc.ae/" target="_blank" rel="noopener">Abu Dhabi National Oil Company</a> clearly enjoyed sharing the news, which appears set to change the energy industry as we know it.The resource in question is called Murban, a light crude grade of which 1.7 million barrels a day are produced in the UAE, accounting for more than half of the nation's output. In order for the futures to be transacted widely, <a href="https://ir.theice.com/press/press-releases/all-categories/2019/11-11-2019-123203554" target="_blank" rel="noopener">Intercontinental Exchange will launch ICE Futures Abu Dhabi</a>, which will be known as IFAD.Based on comments made by Al Jaber, it's clear both he and those at ICE view Murban futures as a potential third major global crude benchmark - something that can slot in alongside Brent and WTI. Al Jaber also remarked that the futures will allow ADNOC to extract even more value from its precious crude."This is a very important, historic day for Abu Dhabi, ADNOC, and the industry," he told a packed room of reporters and oil executives during a post-announcement press conference. "Given significant flows of Murban, particularly in Asia, we believe the market is very ready for a new, more geographically relevant market."The launch of IFAD is hardly Al Jaber's first big splash since taking over as CEO of ADNOC in 2016. In November 2017, he issued a $3 billion bond, the first in company history. It ended up <a href="https://www.thenational.ae/business/adnoc-says-landmark-3-billion-pipeline-unit-bond-more-than-three-times-oversubscribed-1.673476" target="_blank" rel="noopener">three times oversubscribed</a>.Then, in December 2017, he completed an <a href="https://www.cnbc.com/2017/12/13/uae-oil-giant-adnoc-hails-success-of-spin-off-ipo.html" target="_blank" rel="noopener">$851 million initial public offering</a> for 10% of the company's oil distribution unit. It was Abu Dhabi's biggest IPO in a decade. And in October 2018, Al Jaber <a href="https://www.ft.com/content/cfe3e710-cac7-11e8-9fe5-24ad351828ab" target="_blank" rel="noopener">sold a 5% stake</a> in ADNOC's drilling arm to <a href="https://markets.businessinsider.com/stocks/bkr-stock" target="_blank" rel="noopener">Baker Hughes</a> for $550 million, valuing the unit at roughly $11 billion.Based on Monday's press conference at ADIPEC, he has the entire industry's attention.<h2>A who's who of energy-industry royalty</h2>Even before Al Jaber and his fellow energy-industry titans took the stage to sign, the buzz in the conference hall was palpable."Bob Dudley from BP is over there," one unnamed attendee remarked to his colleague. "We sat on the wrong side. They're all here."Who exactly? Chief executives from BP, Total, PetroChina, Shell, Vitol, Taiwan's PTT, Japan's JXTG, Korea's GS Caltex, and Inpex. They flanked Al Jaber as he delivered remarks, then simultaneously signed the shareholder agreement, inking themselves as partners for ICE's new exchange.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="ADNOC" title_caption="ADNOC CEO Dr. Sultan Ahmed Al Jaber is flanked by global energy executives as they sign a Murban futures shareholder agreement." class="zoomin" href="https://static-ssl.businessinsider.com/image/5dc993423afd372296487059-960/adipec press conference.jpg"></a>ADNOCADNOC CEO Dr. Sultan Ahmed Al Jaber is flanked by global energy executives as they sign a Murban futures shareholder agreement.</div></div></div>"Murban has the characteristics to be a great new global crude market," Dudley, the CEO of BP, said in a prepared remark. "I think we're watching today, in the oil and gas industry, a piece of history."Russell Hardy, group CEO of Vitol, added: "Murban already serves as a reference group for many Asian refiners, and the launch of this new benchmark will facilitate hedging and enable the development of a strong, complementary financial market."Following the conference, the lively throng that followed Al Jaber - from the opening ceremony, through the airport-hangar-sized convention center, and into the conference hall - swelled further in size after the presser ended. The ADNOC CEO snapped photos with each individual partner as onlookers took their own camera-phone shots.<h2>Rationale from an ICE president</h2>After the hubbub surrounding the announcement died down a bit, Business Insider sat down for an interview with Stuart Williams - president of <a href="https://www.theice.com/futures-europe" target="_blank" rel="noopener">ICE Futures Europe</a> - to discuss the rationale for the agreement. He also provided the line of thinking from ICE's point of view.Williams laid out three key reasons why the partnership makes sense:1) Abu Dhabi and the United Arab Emirates have long proven to be effectively governed"Within the region, you have the perfect combination of a location that has rule of law and a regulatory system that's very familiar to the global community," Williams told Business Insider.2) ADNOC made a key change in its distibution approach in order to get the deal done"You've got a national oil company in ADNOC that's extraordinarily strategic and forward-thinking in the sense that it's now willing to go destination-free, which is a key component for benchmarking," Williams said.3) The existence of a Murban exchange will make it much easier to hedge Asian oil risk"You have a global benchmark that is Brent, a US benchmark that is WTI, and now we're going to have an Asian benchmark at a comparable grade," he said. "You have comparable qualities across different geographies, which makes the ability to hedge crude coming out of any of those regions, coming into Asia, that much more precise."In the end, Williams sees the two entities fitting together nicely, in complementary fashion."We bring a distribution network, ADNOC brings its fantastic crude with a regulatory system in place," he said. "It has a good chance going forward to becoming a global benchmark."Get the latest Oil WTI price<a href="http://markets.businessinsider.com/commodities/oil-price?type=WTI"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/3rd-wave-tech-stocks-why-theyre-new-disruptors-mark-baribeau-2019-10">A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption</a></h3> <div> </div> </div>

Inside a 'historic day' at the Middle East's biggest oil and gas conference, where all the world's top energy CEOs gathered to sign a deal that could permanently change the industry

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="Flickr/jeffanddayna" title_caption="" class="zoomin" href="http://static4.businessinsider.com/image/5238e6766bb3f7e343b56558-960/eyeball-2.png"></a><a href="http://www.flickr.com/photos/jeffanddayna/4689599918">Flickr/jeffanddayna</a></div></div>In late 2013, <a href="http://www.businessinsider.com/googles-plan-for-adid-could-create-a-monopoly-on-tracking-data-2013-9">Google was reported to be working on a new form of user-tracking device</a> that might replace cookies, the little bits of software that record your web browsing history and provide that information as targeting data to advertisers.
This week we spotted the new system, "Advertising ID," in the wild. We know it's being used to track users with newer versions of Android phones. We believe it is running on KitKat, the latest version of Android. Below, we'll show you how to locate Advertising ID in your settings and turn it off or on.
Its appearance suggests that Android users' mobile phone use is now trackable with both traditional web cookies in the Android Chrome browser and Google's new Advertising ID.
What we don't know is exactly how it works, or what it is tracking. But given that it's intended to provide usage data for advertisers, it's a reasonable assumption that it's recording your web browsing and possibly your app usage too. One possible difference is that Advertising ID may be tracking your phone specifically, whereas cookies track your behavior.
We asked Google for comment - we'll update this post when we hear back from the company.
Here's how to locate and change your Advertising ID settings:
<h3>On phones running newer versions of Android, you'll see this new app icon for Google Settings. Open it.</h3>
<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Jim Edwards / BI" title_caption="" class="zoomin" href="http://static3.businessinsider.com/image/52e685fc69bedde94dbafaea-960/screenshot_2014-01-25-09-34-54.jpeg"></a>Jim Edwards / BI</div></div></div>
<h3>In the next menu, tap Ads ...</h3>
<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Jim Edwards / BI" title_caption="" class="zoomin" href="http://static3.businessinsider.com/image/52e689f8ecad04495701afa0-960/screenshot_2014-01-25-09-34-57xx.jpeg"></a>Jim Edwards / BI</div></div></div>
<h3>You can use any of these settings to change how you want to be tracked, or whether you want to be tracked at all.</h3>
<div class="KonaFilter image-container display-table"><div><div class="image">Jim Edwards / BI</div></div></div>
<h3>Here is what we think this all means. (We're guessing, of course.)</h3>
The first line showing a meaningless string of letters and numbers appears to be a "hashed" ID. Most of the time in online advertising, software takes your actual information and "hashes" it into anonymous random information that doesn't identify you specifically. It merely says, "here's an Android user with the following characteristics."
You can reset the Advertising ID. That seems to be a bit like clearing out your cookies from a web browser. You're still being tracked, but only your new activity is registering.
The "opt out" section could refer to cookies or Advertising ID or both.
"Ads settings" gives you a bunch more options to choose from.
One obvious takeaway - this looks a lot like <a href="http://www.businessinsider.com/ifa-apples-iphone-tracking-in-ios-6-2012-10">Apple's Identifier for advertisers (IFAD or IFA),</a> which also tracks individual phones with a random ID that can be switched off or changed over time.

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