Peru president acts tough on outsourcing companies

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Outsourcing companies may be offering a way of life to number of jobless people but Alan Garcia, president of Peru does not think so. He feels that the outsourcing companies were abusing the labor policies in the country. He has begun a grand campaign for putting to halt intermediary abuse in the country. He stated that the companies were benefiting at the cost of poor workers who were being paid low and were being forced to work more without being able to voice their opinion. He further stated that he had not kept his campaign promise in the box and was waiting for the right time to fight these companies. He even said that a number of employees contracted by the outsourcing companies did not figure out on the payrolls of the company and hence were not even eligible for the bi-annual bonuses. Already the Public Ministry of Peru has announced that three hundred employment agencies had been ordered to be closed down in order to prevent exploitation of workers. It seems the president is acting tough and is sticking to his promise of bringing the outsourcing companies in line. Good luck president!! Via livinginperu

IT outsourcing attracting Sweden

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Up till now the Nordic countries were slow in adopting outsourcing when compared to the Europeans but this trend seems to be changing and one of the latest examples is Sweden. The country is betting on technology, communication, biotech and life sciences and is looking to collaborate with India due to attractiveness of its markets. As per the Swedish Trade Council, on an average a single company is getting registered in India and many more companies are looking forward to establish links with the country. Sweden is being attracted to India due to the scalability option, cost competitiveness and skilled labor. Even though there are number of IT companies such as Deloitte, EDS and IBM which have presence in the country but still it is being attracted to low cost countries such as India. It seems that the magic of India is catching up with Nordic countries too and this will help it in maintaining its lead in the outsourcing arena for a long time to come. Via globalservicesmedia

Media outsourcing is next in line

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If you have a good command over English then you have a chance of landing up a job from a newspaper based in U.S. A number of companies based in U.S are now looking forward to outsource some of their editing jobs to India and other developing countries. Already India has seen certain kinds of business reporting and data entry jobs being outsourced to it. With content outsourcing industry billed at $2.5 billion per year it is expected that India would be achieve a turnover of ten billion rupees. Even the recent industry analysis has pointed out that the newspaper industry of developed countries is looking forward to outsource some of them core and non core functions to developing countries such as India due to cost factors. Though this has started to take place but I don’t think that American readers might be comfortable with the concept of Indians editing their newspapers. Surely the acceptance will be difficult at first but probably they too would have to bow to the cost pressures being faced by the U.S newspapers. Via rediff

Aerospace outsourcing on the rise

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Aerospace market is booming like never before and so is outsourcing. A number of prime aerospace contractors are looking to outsource their regular machining and for that purpose are looking for qualified people to undertake the work. Take for example Boeing which has outsourced around seventy percent of the parts for their new aircraft. Not only aircrafts but even helicopter parts are being outsourced. Companies are outsourcing some of the functions and are leaving behind their core competencies and that surely makes sense. Companies are looking to gel with those suppliers which are financially healthy and can bond for a longer duration of time. It was probably thirty years ago when the wave of outsourcing hit the automotive industry and now the aerospace industry is looking to gain from it. With the US aerospace industry registering sales worth $184 billion in 2006 the trend of outsourcing in this industry is expected to just go northward. image Via americanmachinist

War or No War: Pakistan has to lose nothing

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A comment on a concerned news item in The Economist makes an interesting analysis. All the conversation about Jinnah and disowning is all history and we should not discuss as we all have level of belief in faith. Leave the past and discuss the present. Let us be all sensible about India and Pakistan. We all know what Indians have done in 1970 with Pakistan by ripping the country into two pieces, means separating Bangladesh, it is all written and discussed. Mumbai attacks, very sad and very bad. But waging a war against Pakistan, its another drama repeated by Indian congress to win next term in the office, as previously done by a man recently missed a shoe on his face in Iraq, George W Bush. Why India cannot afford a war with Pakistan, because their economy is already in stimulus contracting, facts: Poor—India is home to some two-fifths of the world’s malnourished children (Economist.com Dec 11 2008) GDP forecast for 2009 is 5.0 (Oxford Economic Report Dec 08) Sharp fall of 12% in export (Citibank Economic Report) 1.4 million people ready for work in 2009 (Citibank Economic Report). Automotive industry suspended production and shut plants(Economist.com Dec 11 2008) Decline in Indian Rupee against US$ (Citiban Economic Report Dec 08) Well, I am not suggesting industrialized India is on the verge of falling but it is possible for emerging India to face worst unemployment in history and popular IT city Banglore to be full of jobless people. Millions $’s of investment in industrialized India may be rotten if India go ahead with the war. In contrast Pakistan got nothing to lose as they are facing the worst economic crisis, with or without war. Coming to war on terror. What ever happened on 9/11 change the world. Who did such a crime cost the innocent people that they never forget. I have deep sympathy for them as well should. But we cannot blame Pakistan for training and supplying terrorist in the world. Because these terrorist were the called ‘Heroes’ once by American when they invaded Afghanistan to save that country from Russia. When these heroes got nothing to do after such bloody religious war, and Americans wants to get rid of them, so they start calling them terrorist, because they know they made these heroes a vicious people who only know how to kill humans. Here I am not defending a terrorist, my only concern here is why they were trained by Americans in the first place? Now these terrorist have spread all over the south Asia. And by taking the advantage, India supporting them to attack suburbs of Pakistan such as blast in Marriot Hotel, Islamabad. Facts, why India have open number of Embassies and council offices in Afghanistan, specifically near border from Pakistan. To conclude, it is in the best interest of India to remain calm and not support any such act that led booming India to become loosing India. It will be in the best interest of India to keep the peace in the region and in order to allow its industrialized economy to reach its boom.

The Credit Card Act Protects Consumers from the Abuse of Credit Card Companies

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President Obama has recently signed into law a new set of policies that will protect consumers against the unscrupulous practices of many credit card companies. Of course, these companies are upset with these latest turn of events because the new law will greatly lessen their ability to extract profits from the consumers. Still, many consumer groups are wary that these credit card companies will simply find new ways to replace lost income with other forms of additional charges. Before the Credit Card Act was passed, many hidden and hard to avoid charges were hurting a lot of consumers. It is expected that the new law will regulate the issuance and billing practices of the credit card companies and reduce many of the hidden costs that are passed on to the consumers. The following are some of the policies covered by the new Credit Card Act: 1. The credit card companies cannot increase interest rates without any reason, and they have to inform their customers at least 45 days before they do so. 2. To avoid late charges, the customers’ credit card bill has to be delivered at least 21 days before the due date. 3. If a customer made purchases that have different interest rates, this customer’s next payment can be applied on the balance with the highest interest rate. 4. Credit limits for college students will be greatly reduced based on their annual income. This will be done to unburden many students, who, by the time they graduate from college, are already deep in debt. 5. A due date that falls on a weekend or holiday can be paid on the next working day and that if anyone pays at 5 pm EST, payment is still considered made within the day of payment. Because credit card companies have become unreasonable and have resorted to various unfair tactics it is no wonder why many lending institutions offering cash loans at more reasonable rates have emerged to compete head-on with these giant credit card corporations. Unless the credit card companies are willing to correct their ways these lending institutions will continue to thrive.

What have been some of the biggest feuds about money?

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There is a famous proverbial saying- Money is the root of all evil. Money can be the bone of contention between loved ones. Often, family feuds arise due to property and wealth. History has hundreds of examples to prove that siblings have killed each other to get wealth and property. Money can make a person red against the other. Why is this so? Is money really the root of all mischief? Money mania has given birth to evils like nepotism, corruption and bribery. Money has become so important today that even the essence of education has undergone a radical change. Most people study to earn well. Parents encourage children to enroll for those courses that can get them a decent job. Look around you, and you will see corruption at every nook and corner. This is due to our hunger for materialistic things. Money, in reality, has no value. It is just a piece of paper that has an attached value. To give an example, if you go to a jungle in Africa, and give a dollar to a tribal person in exchange for food, he would refuse it, as for him, a dollar is worthless. Fighting for a piece of property or a bank account is immoral, and foolish. Sometimes, the situation becomes so difficult that we need emergency cash loans to sort out money-related problems. Let us talk about some of the biggest feuds about money in the year 2009. The Australian media mogul, Rupert Murdoch, waged a war against the Search Engine giant, Google, accusing it of grand theft. The singing sensation Bruce Springsteen accused Ticketmaster of withholding show-tickets, and later reselling them at high costs through another online platform. Likewise, the former Tesla Motors CEO, Martin Eberhard, sued the electric car-making firm, along with its current CEO, Elon Musk, for ‘breach of contract’.

India set to emerge as a pharma outsourcing hub

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Indian pharmaceuticals have traveled a long distance and from being an industry manufacturing generic drugs they have now started their own research and development programs and are expanding their operations for offering discovering services too. A number of companies such as Connexios, Advinus Therapeutics and GVK are already offering preclinical contract services in India. Indian companies are putting huge stakes on pharma outsourcing for their growth and as per an estimate the global pharmaceutical outsourcing stands at around $35 billion. Asia is looking to slice a bigger pie in the global pharma outsourcing market. In 2005 the Indian pharma industry garnered a growth of 2005 and by 2010 it is expected that the Indian biotech sector would reach $ 5 billion. It seems that the Indian pharmaceutical industry would surely dominate the outsourcing world in the years to come. Via indiastockmarket

Around fifty countries looking to replicate the success of India in outsourcing

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You may not believe that around fifty countries are keeping a watch on success of India in the outsourcing arena and that too with the purpose of snatching a piece of its share. From Bangladesh to Canada, countries worldwide are waiting to duplicate the success of India using their manpower. Partha Iyengar of Gartner stated: India has been a great avenue for job creation in the past few years, and that too with very little fixed capital investment. This success has not gone unnoticed around the world, especially among the countries which also have their people as their greatest asset. Countries are getting desperate to study the off shore phenomenon in India. As per Iyengar in order to replicate the success a mixture of six ingredients would be needed like government support, a large resource pool of graduates, training ecosystem, strong vendor base, process and quality capability and English language proficiency and as of now none of these countries can manage these all therefore there is no need for India to bother about it as even if these countries try it would take a long time for them to reach close enough to India. Via indianexpress

Brand Management is all set to rise in the future

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There has been an increase the number of Australian companies outsourcing the management of signage and in the next five years it is expected to grow even more. The reason for the growth can be attributed to increase in the frequency of re-branding and also as more and more companies look to make sure that there is consistency across the branded assets. As per brand asset management group, Signmanager the outsourcing of signage management has now reached a level of 4% of the $500 million that are spent every year on signage in Australia. It is quite visible that in the past six years there has been a significant drop in the life cycle of a brand. Earlier the life cycle of a brand was 15 years after which there was a need of re-branding. Now the life cycle has fallen to as low as 5-7 years. This has made it almost necessary to go for re-branding. Via openpr