Infosys looking at overseas acquisitions

IT major Infosys Technologies is looking at acquisitions in Europe, Latin America, the Middle East, Japan and Australia, a top company official said. “The size of the company should be around $450-500 million,” Infosys chief executive and managing director S. Gopalakrishnan told reporters on the sidelines of a seminar organised by the Confederation of Indian Industry (CII).

The US accounts for around 62 percent and Europe around 26 percent of the company’s total revenues of $4.6 billion. The company is now looking at increasing the revenue share from Europe to 30 percent.

Regarding recruitments, Gopalakrishnan said the company had hired 18,000 people in 2008, adding that it would look into further recruitment next January-February depending on the economic scenario.

Infosys is pursuing contract deals worth $1 billion, he added.

Millions to watch Obama become US’ first black President

WAITING FOR OBAMA: People with masks of Barack Obama wave during a ‘Bye Bye Bush’ demonstration in Spain.

Barack Obama will become the first black president of the United States of America on Tuesday.

He came, he campaigned and he conquered and now Obama’s swearing-in ceremony will watched across the world.

Inauguration Day in the US is steeped in tradition. The president-elect and family will start their day with the morning service at the St Johns Church.

Obama and vice-president elect Joe Biden and their families will then proceed to the White House, where they will be greeted by outgoing President George W Bush. The swearing-in ceremony will be held at the US Capital.

First Joe Biden will take the oath of office and then Barack Obama raising his right hand and putting his other hand on the Bible will be sworn in by Chief Justice John Roberts and attend inaugural parade.

On the eve of his inauguration, Obama paid tribute to the man who ushered in the social change which has helped US get its first black president – Martin Luther King

“Never forget that the true character of our nation is revealed not during times of comfort and ease but by the right we do when the moment is hard. I ask you to help reveal that character once more. And, together, we can carry forward as one nation and one people the legacy of our forefathers that we celebrate today,” said Obama.

Over 2 million people are expected to watch the swearing-in ceremony as well as Obama give his inaugural address.

At Penysalvania they are anticipating 3,00,000 people for viewing stands and many others will watch teh inaugural parade.

It is difficult to say what strikes the most about the next US president. Is it Barack Obama’s background, his education or is it his youth?

It is perhaps a combination of all of them, expressed in that one word – charisma.

Ramalinga Raju is hit over Obama in Internet search

He may be popular for all the wrong reasons, but Satyam’s disgraced founder Ramalinga Raju has beaten US President-elect Barack Obama on internet popularity charts in India, and is closing the gap abroad too.

By now infamous IT czar Raju shot to limelight earlier this month after disclosing what has emerged as the country’s biggest ever corporate fraud in India and has been called

‘India’s Enron’ right from the word go. Google’s search volume index shows Raju and Obama were generating almost equal searches from India during the first six days of the year, with Obama leading by a small margin. However, Raju jumped up the charts on January 7, when he admitted to a massive fraud of about Rs 7,800 crore.

The search volumes for Raju are estimated to have been over 10 times more than that of Obama on January 7, after which it has been declining consistently but Raju is still holding an edge over the US President-elect.

In terms of search volumes generated from various regions, Raju’s own state Andhra Pradesh is on top, followed by Tamil Nadu, Karnataka, Gujarat, Maharashtra and Delhi. In terms of cities too, the maximum search volume has been from Hyderabad, where both Raju and Satyam are based, followed by Chennai, Bangalore, Pune, Mumbai, Mahape and Delhi.

As regards searches for Obama, Tamil Nadu has been on the top, followed by Maharashtra, Karnataka and Delhi among the regions. For cities, the maximum search volumes for Obama has come from Chennai, Mumbai, Navi Mumbai, Bangalore and Delhi. Outside India too, Raju has generated significant search volumes from UAE, Singapore, Finland, US, Poland, Australia, UK, Canada and Germany, but has lagged Obama. Raju has been searched for in Abu Dhabi, Singapore, Dallas and San Fransisco, while search queries have come in Polish language too, other than English.

India may still strike Pakistan

A US intelligence report claims that India is fully prepared and await go ahead for unilateral precision strikes on Pakistan (File photo)

India may have ruled out the military option against Pakistan in the aftermath of Mumbai terror attacks but the international intelligence community continues to believe that strikes in Pakistan occupied Kashmir (PoK) and elsewhere could still happen.

Global intelligence service Stratfor, in its latest report, said, “Indian military operations against targets in Pakistan have in fact been prepared and await the signal to go forward.” It added, “These most likely would take the form of unilateral precision strikes inside Pakistan-administered Kashmir, along with special forces action on the ground in Pakistan proper.”

The private sector intelligence service said that unlike the massive movements of 2002 during Operation Parakram, India’s preparations this time were more under the radar and not visible to the world at large. Its only indication was the fact that the Border Security Force (BSF) has been put on high alert on the western sector as well as the eastern sector – this paramilitary force’s main mandate would be to prevent infiltration.

“Sources have indicated to Stratfor that New Delhi is going through the diplomatic motions in order to give Pakistan the opportunity to take care of the militant problem itself — but the Indians know that Islamabad has neither the will nor the capability to address their concerns,” Stratfor said.

Three weeks after the attacks, India has gone out of its way to reassure everyone that it is not thinking of military action on Pakistan. This was most recently conveyed by Indian high commissioner to Pakistan Satyabrata Pal to Awami National Party chief Afsandyar Wali Khan in Islamabad earlier this week. But India continues to tell all its international interlocutors that its patience will not last long, particularly if Islamabad cannot crack down on terrorism.

India’s actions thus far have been to build a kind of international consensus that the attacks were sourced in Pakistan. It has led to a huge spurt in international pressure on Pakistan to “do more” to combat terrorism. Almost every member of the international community also believes that the next attack in India would see the gloves come off. But everybody knows that Pakistan’s civilian government is unable to take any steps to curb terrorists and the military establishment is unwilling to do so.

“From a strategic perspective, the Indian government can no more afford to accept the Mumbai attacks and move forward than the US government could have afforded to ignore the 9/11 attacks. New Delhi has little choice but to respond – regardless of which political party is in power – and because the perpetrators are linked to elements within the Pakistani state, the response must be directed against Pakistan. And if Islamabad will not cooperate in controlling the militants, India will have to take unilateral action,” Stratfor said.

It explained that India knew strikes in Pakistan would not eliminate the terrorist threat, “but that would not be the aim of any such operation”. It added, “Instead, India has to communicate firmly that it will no longer tolerate attacks from Pakistan-based militants – whether they are rogue or approved by the state. Failure to do so risks emboldening the Islamists and their enablers, as well as a domestic political backlash. The Indian government could not live with either of those outcomes.”

GEORGE W BUSH AND SHOES

Just Be Strong enough to accept the challenges of life. Don’t ask life “Why me?”, instead smile and say “YES!..try me”.

US President George W Bush gets ‘Farewell Boot’ in Iraq

US President George W Bush (In picture) faces the wrath of an Iraqi journalist who hurls his shoes at him during his final visit to Iraq

On his ‘farewell’ visit to Iraq as US President, George W Bush had an unusual ‘encounter’ when an
Iraqi scribe threw two shoes at him, but the agile American leader downplayed the incident, saying “it’s a sign of a free society.”

The journalist, Muntadar al-Zeidi, threw two shoes at Bush — one after another — during a joint news conference with Iraq Prime Minister Nouri al-Maliki in Baghdad on Sunday (December 14, 2008) and shouted “it is the farewell kiss, you dog”.

“All I can report is a size 10,” the president joked. Bush, who ducked both throws, said he has seen a lot of weird things during his eight-year-long Presidency and that he would term the latest incident as “one of the weirdest”.

“And it was amusing. I mean, I’ve seen a lot of weird things during my presidency and this may rank up there as one of the weirdest. So this happens and it’s a sign of a free society,” Bush said. “But I’m not insulted. I don’t hold it against the government. I don’t think the Iraqi press corps as a whole is terrible. And so, the guy wanted to get on TV and he did. I don’t know what his beef is. But whatever it is I’m sure somebody will hear it,” the US President told ABC channel.

After the incident, Iraqi government said that the scribe, who works with Al-Baghdadia channel which broadcasts from Cairo, has been held for questioning by the Prime Minister’s guards and is being tested for alcohol and drugs. Meanwhile, the television channel demanded the immediate release of its journalist and called the scribe as a “proud Arab and an open-minded man.”

Bush shoe attacker ‘detested America’

The Iraqi journalist who caused a furore when he hurled his shoes at visiting US President George W Bush “detested America” and had been plotting such an attack for months, colleagues said on on Monday (Dec 15, 2008).

Muntazer al-Zaidi, 28, was being hailed as a hero by some after his action against the US President who ordered the 2003 invasion of Iraq, and anti-US demonstrations were being staged in Baghdad and the holy shiite city of Najaf.

“This was a spontaneous action by an Iraqi citizen who was showing his dismay at seeing the President of the country which is occupying our nation,” said Liwaa Sumeissim from the anti-American Sadr movement.

The Iraqi government however branded Zaidi’s actions as “shameful” and demanded an apology from his employer Al-Baghdadia television, which in turn was calling for his immediate release from custody.

One of his colleagues in the Baghdad office of Al-Baghdadia said Zaidi had been planning to throw shoes at Bush if ever he got the chance. “When he said he was going to do it, we didn’t doubt him,” he said.

“Muntazer detested America. He detested the US soldiers, he detested Bush,” said another co-worker who also spoke on condition of anonymity.

An Iraqi lawyer said Zaidi risked a minimum of two years in prison if he is prosecuted for insulting a visiting head of state, but could face a 15-year term if he is charged with attempted murder.

In Cairo, Muzhir al-Khafaji, programming director for Al-Baghdadia television, described Zaidi as a “proud Arab and an open-minded man.” “We fear for his safety,” he told, adding that Zaidi had been arrested twice before by the Americans.

Bush warns Pakistan to fight terror or a face-off

GET IT CLEAR: Bush has said US will not be held to ransom by terror outfits

With India reaching out to the world community in the wake of Mumbai attacks, the US, Germany and Britain are sending their ministers and functionaries to India to discuss the developing situation.

Washington too is keeping the pressure up.

US President Bush made a statement saying even governments sponsoring terrorism will be held responsible.

“We’ve made it clear to Pakistan that we must do whatever to protect American people. Governments sponsoring terror are as guilty as the terrorists and will be held to account,” warned America’s President who will soon be making way for president-elect Barack Obama to take over.

The US reiterated that countries should deny safe haven to terrorists.

US Secretary of State Condoleezza Rice too came down hard on the terror outfits and their nefarious designs.

Rice had said that those who want to disrupt good relations between India and Pakistan were at root, and that these non-state actors clearly used Pakistani territory. Rice continued to tell the CBS radio in the interview that there is reason for Pakistan to take up responsibility to act.

Ten Greatest Leaders of the World

Winston Churchill

Churchill arrives at St. Paul’s Cathedral in London to attend thanksgiving services for the May 1945 World War II victory in Europe.
The master statesman stood alone against fascism and renewed the world’s faith in the superiority of democracy

Muhammad Ali Jinnah

Muhammad Ali Jinnah was a muslim politician and leader of the All India Muslim League who founded Pakistan and served as its first Governor-General. He is officially known in Pakistan as Quaid-e-Azam (“Great Leader”) he envisioned a secular state for Pakistan.

Mahatma Gandhi

Gandhi at home next to a spinning wheel, which looms in the foreground as a symbol of India’s struggle for independence. His philosophy of nonviolence and his passion for independence began a drive for freedom that doomed colonialism

Adolf Hitler

Hitler gestures during a speech in May 1937
The avatar of fascism posed the century’s greatest threat to democracy and redefined the meaning of evil forever

Martin Luther King

King announces on April 25, 1967, that he would not be a candidate for the president of the United States
He led a mass struggle for racial equality that doomed segregation and changed America forever

Ayatullah Ruhollah Khomeini

Khomeini in 1979 returning to Tehran, Iran
Brazenly defying the West, he revived Islam’s faithful and authored a new form of religious government. The prescriptions were often chilling

V.I. Lenin

Lenin in 1918, the year he split with the Left Social Revolutionaries and renamed the Bolsheviks the Russian Communist Party
Driven by ideological zeal, he reshaped Russia and made communism into a potent global force

Nelson Mandela

Mandela was a TIME Man of the Year in 1993
As the world’s most famous prisoner and, now, his country’s leader, he exemplifies a moral integrity that shines far beyond South Africa

Pope John Paul II

Pope John Paul II waves to pilgrims in September 1989
The most tireless moral voice of a secular age, he reminded humankind of the worth of individuals in the modern world

Ho Chi Minh

Founder and President of the Democratic Republic of Vietnam, Communist North.

He married nationalism to communism and perfected the deadly art of guerrilla warfare

Infosys to freeze hiring, says signs aren’t good

COMPANY FORECAST: S Gopalakrishnan, CEO and MD of Infosys, speaks at the Reuters India Investment Summit.

Infosys Technologies Ltd will freeze recruitment after meeting this fiscal year’s target of hiring 25,000 staff, a telling sign the global downturn is hitting India’s $52 billion outsourcing sector.

The country’s second largest software services firm however has no plans to cut jobs and is sticking with its third quarter outlook, CEO Kris Gopalakrishnan told reporters.

He said the outsourcing sector’s growth rate would halve next year as some customers delay orders. “Last year the IT industry grew more than 30 per cent, this year it is looking at somewhere in the region of 15 per cent,” Gopalakrishnan said.

India’s export-driven IT sector, used to a scorching pace of growth, has been hit by the financial crisis and recession in the United States, which contributes more than half their revenue. In the last few years, the outsourcing industry has created tens of thousands of jobs, mainly attracting young workers, as global companies look to trim labour costs.

Infosys hired 16,000-17,000 employees in the first half of the fiscal year that began in April and would honour commitments to 6,000 under training, Gopalakrishnan said. Infosys, which counts Goldman Sachs and Philips Electronics among its clients, cut its full-year dollar revenue outlook in October due to the worsening global downturn.

Gopalakrishnan said on Dec 04, 2008 the company would freeze fresh recruitment, apart from meeting specific skill needs. “We will have to look at controlling our cost, controlling our expenses making sure that we run an optimised business. We will have to look at what are things we need to do in order to prepare ourselves for the recovery.” “Growth is coming more and more from emerging markets so hese are the things we need to prepare ourselves. We should not lose momentum in this slowdown,” he said.

But Infosys still expects its strong client base and a weakening rupee to help it meet a forecast for December quarter earnings of $0.57 a share. The Indian rupee has fallen nearly six per cent so far this quarter against the dollar.

“Infosys is seeing further degradation of the demand environment, with headwinds from leadership changes at customers, a shrinking large deal pipeline …. Pricing pressure has emerged,” CLSA Asia-Pacific said in a report this week.

Barack Obama nominates Hillary Clinton as Secretary of State

US President-elect Barack Obama on Dec 01, 2008 named former Democrat rival Senator Hillary Clinton as the Secretary of State in his incoming administration and retained Robert Gates as the Defence Secretary.

The team of Obama and Vice President-elect Joe Biden also officially announced other key members of their cabinet, nominating Eric Holder as Attorney General, Arizona Governor Janet Napolitano as Secretary of the Department of Homeland Security, Susan Rice as Ambassador to the United Nations and General Jim Jones as the new National Security Adviser.

“In this uncertain world, the time has come for a new beginning – a new dawn of American leadership to overcome the challenges of the 21st century, and to seize the opportunities embedded in those challenges,” Obama said in a statement issued by his transition team.

To succeed, a new strategy should be pursued that skillfully uses, balances, and integrates all elements of American power — military and diplomacy, intelligence and law enforcement, economy and the power of “our moral example,” the country’s first African-American President said.

“The team that we have assembled here today is uniquely suited to do just that. They share my pragmatism about the use of power, and my sense of purpose about America’s role as a leader in the world,” Obama, who will be taking office as the 44th US President on January 20, 2009, said.