In a recent deal, Wipro has acquired a major contract from India’s Punjab and Sind Bank (PSB) for $21 million after ending an earlier agreement with Satyam Computer Services. Read more
Social game provider, Zynga, has said it plans to expand its operations from its base in the U.S. to a center in India. Not surprising, since Bangalore, India heralds the title – the world’s outsourcing hub. Read more
Recently Sachin Dabir, a Senior Manager at Red Hat Asia Pacific, posed an interesting question on his blog where he asked (and answered) why Indians are good at coming up with IT solutions and services, but are lousy at making good IT products. To put things in context: Sachin first noted that over the past year, he has been meeting with software companies across the APAC region and from his meetings he has noted that these companies all have clients across the region and even as far away as Europe or the USA. Furthermore, he noted that these are small and medium sized companies with only 10 to 50 employees; and yet, all of them have managed to find buyers in other parts of the world who trust both the products and the companies themselves. Read more
IT layoffs appear to be bottoming out and there are even signs of a slight uptick in hiring in some areas but if you are an unemployed IT professional in the West, you are still an endangered species and don’t expect a sudden surge (and perhaps not even a trickle) of job offers in the immediate future. Read more
From the beginning of summer 2008 there has been a slew of bad news in US that caused ripple effects across the globe. It all started with the housing subprime mortgage and now it trickled into the entire financial market. The US unemployment rate hits 6.1% and the industrial production fell to 1.1%, its largest decline in the past three years. The Indian IT and BPO companies get more than 60% business from US and 20% from UK, the rest comes from other European countries, Australia etc. With US already in recession and European economy edging towards recession, all these will affect the global economy.