Webinfosys's Updated News : Credit crisis not over yet: IMF's Rato

The global credit squeeze is a "serious crisis" that is not over yet and will have an impact on governments' budgets, the IMF's outgoing head Rodrigo Rato said in an interview published on Monday.

Speaking to the Financial Times from Washington, IMF Managing Director Rato said: "Policymakers should not think that the problems will stay at the desk of the bankers.""Problems are going to come to the real sector, come to the budgets -- that is something we keep telling people."Rato said that it would be "a few months, probably into next year" before the availability of funds returned to normal levels in the markets, which was "going to have an impact on growth". He noted that the limitation on growth would mean that finance ministers would have to amend their budgets, but he told the FT that it did not seem that many were willing to do so. Rato added that the credit crunch, sparked earlier this year by concern in the financial markets over high-risk or subprime mortgages in the United States, was "not a storm in a teacup". "The US is going to slow down ... growth in Europe looks less strong than before, and in Japan too -- though Japan will probably stay (at about) potential," said Rato, who will be succeeded as IMF chief by former French finance minister Dominique Strauss-Kahn at the end of the month. Emerging markets will also likely have some impact, Rato said, adding that while those countries were growing rapidly, "to what extent they will keep that momentum will depend on how long the slowdown is in the US and Europe."

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Webinfosys's Updated News : India set 292-run target for Australia

India piled a competitive total of 291 runs against Australia in the fourth one-day international of the Future Cup series in Chandigarh on Monday.

Earlier, Indian captain Mahendra Singh Dhoni won the toss and elected to bat in the crucial crunch game. The hosts were off to a sedate start as openers Sachin Tendulkar and Sourav Ganguly were bogged down with the Aussie pace attack.

After escaping a deathly inside edge off the fourth ball of the third over, Tendulkar was at a shabby score of four runs after 10 overs. With runs coming in at snail's pace, each boundary seemed like a purging effort by the Indians.

The crowd, who badly needed to be woken from their slumber, found entertainment from the most unexpected quarters. Each head turned up, not to say a little prayer for the home team, but to watch a fleet of aircrafts roar above the ground. Alas, something roared, even if it was not the preponderantly turbaned crowd!

Sourav's efforts saw an end when James Hopes removed him in the last ball of the 20th over. India were 91/1 as the southpaw returned to pavilion for 41.

Tendulkar, who piled a costly half-century off 91 balls, found support in Yuvraj Singh as they compiled a 83-run partnership. But the latter planted an easy catch to Ponting, at extra cover, to return for 39.

Just as the Indians became hopeful of Sachin's century, he was run out at 79.

New Daddy, Nathan Bracken, who made is maiden appearance in the series, packed off Rahul Dravid for a cheap score of 13.

Robin Uthappa's late flourish steered India to a good total after a shoddy start by the stalwarts. He hit six boundaries during his 16-minute stay at the crease. Dhoni completed his half-century with a six off the last ball of the innings.

Sourav Ganguly returned to the Indian squad in place of an injured Gautam Gambhir while temperamental fast bowler Shanthakumaran Sreesanth was left out. India also dropped wicketkeeper-batsman Dinesh Karthick while bringing in left-arm spinner Murali Kartik, who will be playing his first international in more than a year.

Ganguly was part of the team for the first one-dayer in Bangalore, which was abandoned due to rain, but missed out on the next two due to a hamstring injury.

Australians brought fast bowler Nathan Bracken in place of Stuart Clark in the only change from the side that won the third one-dayer in Hyderabad.

Australia lead the series 2-0. The remaining three matches of the series will be played in Baroda, Nagpur and Mumbai.

Teams

India: Mahendra Singh Dhoni (captain), Sachin Tendulkar, Robin Uthappa, Sourav Ganguly, Rahul Dravid, Yuvraj Singh, Irfan Pathan, Harbhajan Singh, Murali Kartik, Rudra Pratap Singh, Zaheer Khan.

Australia: Ricky Ponting (captain), Adam Gilchrist, Nathan Bracken, Michael Clarke, Matthew Hayden, Brad Hodge, Mitchell Johnson, Brett Lee, Andrew Symonds, Brad Hogg, James Hopes.

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Webinfosys 'Updated News : Malaysia's over 200 Indian workers claim being abus

More than 200 Indian nationals working in a Malaysian factory have alleged that they were being abused by their employment agent and are desperate to return home after three of their colleagues were brutally beaten up.

The 264 Indian workers, employed at a factory in Senai in Johor state, claimed their agent started abusing them when they arrived in Malaysia two years ago.

The workers claimed that three of their colleagues were abducted and beaten up for putting up a notice stating that workers no longer wanted 2.50 (25 rupees), the cost of hostel canteen food, to be deducted from their daily wages.

The Indian workers, part of the 1,500-strong foreign workforce at the plastic-moulding factory, staged a picket to demand the release of the three, local media reports said.

The trio, with bruises all over their bodies, have since returned to the hostel, the report said One of the workers, Thangaraju, 39, said he could have ended up dead if not for the strike staged by his co-workers.

Thangaraju claimed that he and the other two workers were beaten for hours and the men tried to force him to drink detergent when he asked for water, the report said.

He said the beatings started two months after they arrived at the hostel in November 2005.

"We found worms in the rice served at the canteen. When we complained, 20 of my colleagues were abducted and given a severe beating. Only 10 returned and to date, we don't know what happened to the rest."

Another worker identified as Vadivelu said the workers decided to quit and return home on the advice of their parents.

A factory official said the management wanted to send the injured trio to the clinic but were stopped by their colleagues.

"There is a small group of workers instigating the others. They are forcing the workers to strike and this has disrupted operations."

The official said the factory took over the management of the hostel three days ago after the workers decided they did not want to deal with their agent any more.

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