Washington  - The US government on Tuesday launched a new programme designed to unfreeze credit markets by taking a direct role in lending for small businesses, cars, student tuition, credit cards and other core sectors of the struggling US economy.

The US Treasury and Federal Reserve said they would begin lending up to 200 billion dollars by March 25 to help restart securitization markets, a critical component of the US economy that has virtually come to a halt since the financial crisis exploded in September.

The shadows of the economic slowdown are lengthening every day. On Monday, the rupee declined against the dollar, the markets crashed, and the export figures showed another decline.

Rupee down: Bad news on the economic front haunted the rupee as it closed at an all-time-low of Rs 51.95 against the US dollar. Bankers believe the Indian currency will be under constant pressure this week. "It could weaken to 52.50-52.70 levels as global uncertainties and weakness in the local stock market are impacting the rupee," said RVS Shridhar, head of markets at Axis Bank.

Now the sea lovers can cruise their way to their favorite destinations as the recession makes the cruise industry to come up with all kinds of cruise deals to attract the consumer. This includes attractive offers like discounted airfare, free tickets for kids, onboard credits, lower deposits and deals on cancellation insurance.

Health Minister Nicola Roxon announced that private health insurance premiums will go up by an average of 6.02% on April 1. She said she had written to several large funds in this regards and had challenged their request for larger premium rises.

"Without that close scrutiny, premium rises would have been higher for up to eight million Australians," she said.

"This year's increase is the result of increased benefits paid to patients, rising health service costs, and investment losses from the global financial crisis."

Prague/Brussels  - The Czech Republic, current holder of the European Union's rotating presidency, called for the emergency EU summit on Sunday to reject protectionism as France vowed that a plan to support the auto industry would not break EU rules.

"We do not want any new dividing lines; we do not want a Europe divided along a North-South or an East-West line; pursuing a beggar-thy-neighbour policy is unacceptable. That the internal market remains united is of vital importance," Czech Prime Minister Mirek Topolanek said in a statement on Saturday.

Prague - The current Czech presidency of the European Union has called for a common approach to the financial and economic crisis from EU members, ahead of a special union summit in Brussels on Sunday.

Czech Prime Minister Mirek Topolanek said in a statement from Prague on Saturday that "We do not want any new dividing lines; we do not want a Europe divided along a North-South or an East-West line."

Several Eastern European economies appear to be faring even worse than recession-hit western European states, in the face of rapidly weakening exchange rates and large current account deficits.