South Africa beat Australia after record chase

December 21, 2008 13:42 IST
Last Updated: December 21, 2008 14:31 IST

AB de Villiers hit an unbeaten century to guide South Africa to a successful record-breaking run chase of 414 -- the second biggest run chase in Test history against Australia at the WACA in Perth on Sunday.

De Villiers was unbeaten on a cracking 106 and debutant JP Duminy was not out on 50 as South Africa produced a great batting display on the fifth and final day to win the opening Test by a comfortable six-wicket margin.

Captain Graeme Smith had given them a perfect start in their second innings with a magnificent 109, adding 153 runs for the third wicket with Hashim Amla (53)

Mitchell Johnson , who took eight for 61 in the first innings, continued chipping away at the wickets in the second innings but the South African middle order came to the party in fine style.

Resuming on 227 for three, veteran Jacques Kallis hit a timely half-century (57) and was involved in a 124-run partnership for the fourth wicket with de Villiers to give the visitors the upperhand.

But the wicket of Kallis, with South Africa needing another 111 runs for victory, left the match evenly poised.

De Villiers then took centrestage and he along with Duminy scored runs at will as the Australian bowlers seemed completely clueless.

De Villiers hit nine boundaries in 186 deliveries, his seventh Test century, as South Africa coasted to the victory target in 119.2 overs in the post lunch session.

Incidentally, the highest run-chase in Test cricket had come also against Australia when the West Indies chased down a mammoth 418 for seven at St John's in 2003.

Highest run-chases in Test cricket:

West Indies	418-7	v Australia	St John's	2003
South Africa	414-4	v Australia	Perth	2008-09
India	406-4	v West Indies	Port of Spain	1975-76
Australia	404-3	v England	Leeds	1948
India	387-4	v England	Chennai	2008-09

Schwarzenegger orders mass layoffs

WASHINGTON: California's Governor Arnold Schwarzenegger has ordered mass layoffs and unpaid furloughs for state workers starting February to address the states' fiscal crisis.

Over two lakh employees will be compelled to take off two unpaid days every month through June 30, 2010. The managers will have to bear receiving either the furlough or an equivalent salary reduction during the same span, Los Angeles Times reported today.

The mandatory time off is the equivalent of about a 9 per cent pay cut for affected workers and the furloughs would save the state more than USD 1.2 billion, the report quoted HD Palmer, spokesman for Schwarzenegger's finance department as saying.

The number of people losing their jobs was unclear. Schwarzenegger had earlier also attempted to unilaterally reduce the pay of state employees, but nothing happened at that time as the state's payroll system was incapable of carrying it out.

The governor's order was, however, condemned by the officials of state employee unions, who vowed a legal challenge.

"Our state's fiscal crisis has worsened dramatically in the past few weeks without legislative action to address our budget crisis," the paper reported Schwarzenegger as saying in a letter to state employees yesterday, after he declared another fiscal emergency and called a new special session of the legislature.

Minister doubts who killed ATS chief Karkare

New Delhi: Union Minorities Affairs Minister A R Antulay suspects the truth behind Maharashtra Anti-Terror Squad chief Hemant Karkare’s murder is being suppressed.

Karkare was leading the investigation into the Malegaon blast and was shot dead during the Mumbai terror attacks on November 26. Antulay told CNN-IBN he was not sure whether Karkare was a victim of terrorism “or something else”.

“Karkare was a very bold officer. I know his acumen was great. He had vision and was prepare to lay down life for country at any time. Now how come instead of going to the Taj (Hotel) or the Oberoi (Hotel) he went to such a place where there was nothing?” said Antulay.

“He was also making an independent investigation. (in which) he found that there were non-Muslims who were terrorists. Whether he was just a victim of terror or something (else), I don’t know. I knew him personally; I salute him.”

Karkare, Additional Commissioner of Police Ashok Kamte and Inspector Vijay Salaskar were shot dead by the terrorists who had hijacked a police vehicle and were speeding away toward the Cama Hospital.

Karkare had come under attack from Hindu groups for arresting Hindus for the Malegaon blast and was accused of working under political pressure. At least two Hindu seers and a serving officer have been arrested for the blast, which killed five persons in the communally sensitive Maharashtra town on September 29 last year

Upaid Requests Depositions of Top Satyam Executives in Connection with Maytas Transaction Asset-Stripping Attempt in Advance of Texas Trial Judgment

LONDON, Dec 18, 2008 (BUSINESS WIRE) -- Online and mobile payment services leader, Upaid Systems, announced it is filing today a motion in Collin County, Texas district court requesting depositions of Satyam Computer Services' Chairman, Chief Financial Officer and Global Head of Corporate Governance in connection with the attempt earlier this week to strip all surplus cash from the company in a $1.6 billion related-party transaction benefiting the family of Satyam's founder and Chairman.

Satyam is facing suits in U.S. Federal and State Courts filed by Upaid claiming fraud, forgery and breach of contract, as a result of which Upaid has suffered damages to its business and prospects in excess of $1 billion. The Federal Court proceeding is currently scheduled for a Texas jury trial in June of 2009, and Satyam is facing the potential of a very sizable judgment against it. At present, Satyam has cash resources to pay a $1 billion plus judgment or the liquidity to support a supersedeas bond. However, on December 16, 2008, Satyam announced a plan to strip $1.6 billion of cash out of the company, an amount that exceeds its cash, in a transaction to acquire Maytas Properties and Maytas Infra, whereby the large majority of this cash would go to the family of Satyam's Chairman, Ramalinga Raju. That Satyam would proceed with a transaction that seems so clearly designed to deplete its assets in advance of a judgment, rightfully concerns Upaid that Satyam may be willing to engage in fraudulent transfers to avoid its legal obligations.

Satyam has put its reputation in the business community squarely at issue in court proceedings it has filed against Upaid. The Satyam executives whose depositions are being requested, Ramalinga Raju, (Chairman) Srivinas Valdamani (CFO) and G. Jayaraman, (Global Head - Corporate Governance) are in the best positions to know Satyam's reputation in the business community and the events that have drawn such widespread criticism in the marketplace as underscored by recent news reports. The evidence of Satyam's poor corporate governance and business practices has been mounting, harming Upaid, other customers and now Satyam's shareholders. The Maytas transactions further damaged Satyam's reputation, sparking widely-reported outrage among Satyam's shareholders and a fire sale on Satyam's stock that resulted in a 55 percent one-day decline in the company's market value.

For a copy of the Motion to take Depositions, please contact Skywrite.

About Upaid

Upaid is the mobile and online payments specialist. Applications range from the recharge of prepaid accounts via SMS, to electronic bill payment and presentment, to billing for mobile content. The Upaid platform supports a complete eco-system for mobile commerce, giving users the choice of an operator-driven or independent billing system.

Upaid holds a portfolio of over 1,000 granted patents in the arena of e- and m-commerce. We work with Brazil's leading mobile operators and banks to enable recharge transactions, serving a user base of over 50 million consumers, processing 2 million transactions per month. Upaid holds the franchise for VISA Mobile Service in the CEMEA region. Upaid has offices in the US, UK, and Brazil. Upaid is a registered trademark of Upaid Systems, Ltd.

For more information, please visit www.upaid.net.

SOURCE: Upaid

IIMs appear to be heading for clash with Centre

NDTV Correspondent

Friday, December 19, 2008, (New Delhi)

The Indian Institutes of Management and the Central government could be heading for another round of confrontations on the key issues of autonomy and fee structure for the premier institutions.

The institutes have rejected recommendations by the Bhargava Committee set up by the HRD Ministry to review the functioning of IIMs.

They say the recommendations if implemented would have compromised the standard of India's premier business schools.

The IIMA disagrees with the recommendation of the Committee to create a Pan-IIM Board. Instead, wants greater autonomy to the IIMA Board.

IMA disagrees on faculty compensation, proposes that faculty compensation be de-linked from the government compensation structure. IIMA will find its own resources to pay the faculty.

IIMA disagrees with the government proposal to set up new IIMs that would be mentored and supported by the existing IIMs.

Instead, IIMA would propose that it should be permitted to set up campuses in new locations, both within and outside India.

PTI adds:"The IIM-A board meeting was held to deliberate on the recommendations of the R C Bhargava Committee. We have not arrived at any final decision on the subject," IIM-A director Samir Barua told reporters after the meeting.

Some of the 22 recommendations put forward by the Bhargava committee, submitted to the central government on September 25 this year, have been opposed by the IIMs.

The committee has recommended constitution of a pan-IIM board, i.e. one board for all the IIMs and deciding the structure of fee of IIMs and faculty compensations and shortage.

However, the IIMs are understood to have disagreed with the pan-India board and instead pressed for greater autonomy to the premier business schools.

On the Bhargava committee's suggestion for delinking faculty compensation from the government the IIMs want permission to raise their own resources and set up campuses in and out of India.

The Bhargava committee has also recommended changes in the admission procedure of the IIMs.

Earlier, the IIM-A under the directorship of Dr Bakul Dholakia was locked in a showdown with the Union Human Resource Development ministry over the autonomy of IIMs.

"In the report which we are going to submit to the central government, we will explain why we agree or have reservations on the recommendations of Bhargava committee," Barua said.

An IIM-A board member, who was also present in the meeting said, "We have taken views of all the board members, even of those who were not present, by e-mail. We had a detailed discussion on recommendations but have not arrived at any final conclusion."

He added that if need be the board will meet again before forwarding its report to the ministry."
IIM-A is likely to convene another board meeting in a week or ten days, sources in the institute revealed.

The Indian Institutes of Management and the Central government could be heading for another round of confrontations on the key issues of autonomy and fee structure for the premier institutions.

Wipro denies making lay-offs

Wipro Technologies has laid off a number of workers without notice, according to a source close to the company. Employees said they were suddenly asked to leave.

The move was especially upsetting for staff who were recently awarded quality achievements. Termination has become more unpredictable, with one employee dismissed on "person to person behavioural front" - believed to be a miscommunication between the worker and a senior official long before. Another commented, "I have no regrets, since getting laid-off doesn’t actually count back my fault."

One employee still within the company said, "We don’t protest any amount of job, or any kind of harsh behaviour these days, since all we strive is to survive in the organisation.”

When asked to comment, a spokesperson told IT Examiner , "We have not laid off anybody, ever, and we are not here to justify such matters with the media."

Rs 50 crore offer for shoes hurled at Bush

A Saudi man has offered to pay $10 million (about Rs 50 crore) for the pair of shoes that an Iraqi journalist hurled at US President George W Bush during a press conference in Baghdad.

Mohamed Makhafa, a retired school teacher, says he considers the size 10s a "medal of freedom and more valuable than everything he owns", Al Jazeera news channel reported.

Muntazer al-Zaidi, the Iraqi journalist who became a hero overnight in the Arab world, had thrown his shoes at President Bush during a joint press conference of the US leader with Iraqi Prime Minister Nuri al-Maliki in Baghdad on Monday.

"It is more precious than all my property. I will bequeath it to my children and display it in a museum and call it the Medal of Freedom," Makhafa told AlArabiya.net. Makhafa said the combined value of the land and property he owns exceeds the price he is offering for Zaidi's shoes, adding if the journalist's lawyer manages to reclaim the infamous pair he will buy them.

Makhafa said he does not look at it from a commercial point of view and said his offer was the start of an auction. The 60-year-old stressed that he does not hold a grudge against the US, but said he hates its foreign policies that have humiliated the Muslims. Announcing his offer on the Internet, Makhafa, an activist who has raised voice on various issues, said tribesmen and public figures in the Arab world had expressed their support and many showed interest in taking part in the auction.

AstraZeneca outsources IT to India's Infosys

AstraZeneca has inked a big outsourcing deal with India's Infosys, which will maintain IT systems for manufacturing, supply chain, finance, human resources and more. It's a five-year, multimillion-dollar deal that Astra hopes will improve its operational efficiencies and help it bring new products to market faster.

The deal is part of AstraZeneca's overall restructuring, and, said Infosys CEO Kris Gopalakrishnan, will help the company focus on its "core competencies" rather than on the nitty-gritty of business processes. Said AstraZeneca's Global CIO Richard Williams, "The combination of Infosys' outsourcing expertise, technology leadership and proven record in rationalizing and standardizing business process were all contributing factors to our decision." No word on exactly how much money will be changing hands.

Astra's outsourcing to Infosys comes at a time when more and more pharma companies are looking to hand off parts of their operations to outside firms. Drugmakers increasingly use contractors to handle the nuts and bolts of their business, in everything from supply-chain management and bookkeeping to manufacturing to clinical trials. With the economy going south, drugmakers are likely to continue to look to outsourcing as one way to streamline their businesses and cut costs, even as contractors themselves watch their portfolios of business dwindle.

CBI plagued by acute staff shortage

Press Trust of India

Tuesday, December 16, 2008, (New Delhi)

CBI is plagued by a staggering 23 per cent vacancies in its sanctioned strength, especially in investigations and legal department, resulting in unusually longer probe and pending trials.

Top sources in CBI said the country's premier investigating agency has 1402 vacancies of the total sanctioned strength of 5960. While 3209 officers are available in the executive cadre which investigates the cases handed over to the agency, its actual sanctioned strength is 4077.

Similarly, while the legal department of the CBI has a sanctioned strength of 230, the agency only has 156 legal heads at its disposal.

"Yes, the vacancies are a problem as the number of cases that we are investigating is too large in comparison with our strength. Many a times, a single Investigating Officer ends up heading 4-5 different cases which ideally he should not," a senior CBI official said.

The toll of the vacancies can also be seen in the CBI annual performance report. While in 2006, 650 cases were disposed off and 8293 were pending, in 2007, 674 cases were disposed off and the pending cases rose to 8730.

Similarly, as per the latest data available for 2008, while 537 cases were disposed off, the pending cases have risen to 8871.

"The legal strength was sanctioned when we used to handle about 1400 cases but now we are handling over 8000 cases and hence our endeavour is to increase its strength by three times," the official said.

India: One of the 5 worst bribe-payers in the world

December 10, 2008 09:16 IST

Indian companies have been perceived as one of the worst bribe-payers while engaging in business abroad, ranking along with firms in other BRIC countries - Russia and China - according to anti-corruption organisation Transparency International 2008 Bribe Payers Index, released on Tuesday.

Though India has improved its BPI score of 6.8 out of 10 this year compared to the last BPI survey in 2006, when it was ranked last with a score of 4.62, it still remains one of the five worst countries in the world, as bribery by emerging exporters is still on the high side. The lower the average score, higher the corruption.

"The BPI provides evidence that a number of companies from major exporting countries still use bribery to win business abroad, despite awareness of its damaging impact on corporate reputations and ordinary communities," said TI Chair Huguette Labelle in a press statement.

Belgium and Canada shared first place in the 2008 BPI, with a score of 8.8, indicating that Belgian and Canadian firms are seen as least likely to bribe abroad. The Netherlands and Switzerland shared third place on the index, each with a score of 8.7. On the other end of the spectrum is Russia, which is ranked last with a score of 5.9, just below China (6.5), Mexico (6.6) and India (6.8) (see table).

The BPI also shows that public works and construction companies are the most corruption-prone when dealing with the public sector, and most likely to exert undue influence on the policies, decisions and practices of governments. In the first of two new sectoral rankings, companies in public works contracts and construction; real estate and property development; oil and gas; heavy manufacturing; and mining were seen to bribe officials most frequently.

BRIBE PAYERS INDEX (BPI) SURVEY
Top five 2008		Top five 2006
Country	Score	Country	Score
Belgium	8.8	Switzerland	7.8
Canada	8.8	Sweden	7.6
Netherlands	8.7	Australia	7.5
Switzerland	8.7	Austria	7.5
Germany	8.6	Canada	7.4
Worst five 2008		Worst five 2006
Brazil	7.4	Taiwan	5.4
India	6.8	Turkey	5.2
Mexico	6.6	Russia	5.1
China	6.5	China	4.9
Russia	5.9	India	4.6
Source: Transparency International

The cleanest sectors were identified as information technology, fisheries, and banking & finance. While most of the world's wealthiest countries already subscribe to a ban on foreign bribery, under the Organization for Economic Co-operation and Development's anti-bribery convention, there is little awareness of the convention among the senior business executives interviewed in the Bribe Payers Survey.

Transparency International recommends the Indian government to sign the international anti-corruption conventions, ratify the United Nations' convention against corruption and also exhorts it to pass laws like the US Foreign Corrupt Practices Act of 1977.

"The unfolding financial crisis has shown us just how integrated the world's markets have become. Accountability must be guaranteed across borders, include improved risk management and reach all the way down a company's supply chain," said Cobus de Swardt, managing director, TI.

"Businesses face a complex challenge, but efforts to improve labour practices, for instance, by working with intermediaries, suppliers and affiliates, show that there is no excuse to not extend anti-bribery standards globally in a similar fashion."

The BPI is a ranking of 22 of the world's wealthiest and most economically-influential countries according to the likelihood of their firms to bribe abroad. These countries are - Australia, Belgium, Brazil, Canada, China, France, Germany, Hong Kong, Italy, India, Japan, Mexico, the Netherlands, Russian Federation, Singapore, South Africa, Spain, South Korea, Switzerland, Taiwan, the UK and the US.

The survey asked two questions: whether the respondents had business dealings with companies in the list of 22 countries. If so, how often the companies, having their headquarters outside, pay bribes in their own country. The index was then composed based on the reply to these two questions. Around 2,742 executives in 26 countries were part of the latest survey.