TOP NEWS

Daily Dose | Feb 27 2009

>> TOP NEWS Nortel cuts 3,200 more jobs Toronto-based telephone equipment maker Nortel Networks, which filed for bankruptcy protection in January, is axing 3,200 positions worldwide. SPI opens IT Development Center, plans to hire 200 Even as the world is wailing about the deepening recession and the resultant job cuts, Mysore based Software Paradigms Infotech (SPI) is planning to open a new IT Development and BPO center in Mangalore and employ up to 200 resources. InsideView to double headcount TCS lays off U.K. Staff; Infy, Wipro to cut onsite staff >> TECHNOLOGY India launches Pan-African e-network project India's ambitious e-network project, linking leading universities and hospitals in this country with their counterparts in 11 African nations via satellite, was inaugurated Thursday evening by External Affairs Minister Pranab Mukherjee. IT infrastructure outsourcing market to touch $8.6 Billion in 2010 Remote Infrastructure Management Outsourcing (RIMO) market is expected to touch $5.9 billion in 2009 and $8.6 billion in 2010, says the Everest Research Institute. Indian animation market to grow by 27 percent by 2012 Global outsourcing benefited U.S. firms: Nasscom >> BUSINESS Indian private businesses better placed in terms of jobs, salary Amidst economic downturn, privately held businesses (PHBs) in India are likely to see an increase in employment opportunities this year. India unveils steps to push exports, $200 Billion target set India is expected to miss the export target of $200 billion this fiscal due to the global meltdown, Commerce Minister Kamal Nath said, but hoped this figure will be achieved next year as he unveiled some new measures to help the exporting community. Tata Consultancy reviewing variable pay structure Nano to be launched on March 23 >> VENTURE NEWS Mayank Bawa led Aster Data Systems adds $5 Million Aster Data Systems, a provider of the best analytic databases for frontline data warehousing, has closed an extension to its oversubscribed Series B round with an additional $5 million from Institutional Venture Partners (IVP). Arun Oberoi led Aveksa secures $10 Million in series C funding Aveksa, a provider of enterprise access governance solutions has closed a $10 million series C round of financing. >> OTHER NEWS Youth are India's greatest resource: Martin Luther King-III Championing the cause of non-violence like his father did, Martin Luther King-III Thursday said that a nation should spend as much on public services as on defence and that India's younger generation was the country's greatest asset. Corporates can survive bad times without downsizing News of downsizing is bad news for any employee. Though downsizing is a common strategy adopted by organisations to cut costs and keep performance standards high, during the current recession it appears to have become a survival imperative. Educomp Solutions accused of fraud; no wrongdoing, says company Google looks to earn from IPL through Orkut >> BLOGS I have only 1000 to spare. Where to invest? - Srikanth Matrubai Lots of my clients and many people I meet happen to be people with poor background and have very little money to spare. They keep asking me, "Mr.Srikanth, I have got only 1000 per month to spare, Where shall I invest".... MAGAZINE Cover Story A realization that the biggest commodity houses still used obsolete IT systems with too many loopholes in it to run the business, drove Manav Garg to found Eka Software, a provider of commodity trade and risk management software. Guest Contributor The convergence effect - its challenges and oppurtunities By Devadas Varma Chairman and Founder, Calypto Design Systems Featured Mentors surendra mishra Own SOftware Development Company ERP SOlutions Bala Din Engg Video spotlight Brian Tracy: If You Could Achieve One Goal in 24 Hours Self-made millionaires have been studied extensively throughout the years. The good news is that success is... Blogs Spotlight Why to Spend on Online Marketing During Recession 7 TOP Reasons to Spend on Online Marketing During RecessionRecession, turndown, meltdown or slowdown. You cannot spend a .,... Take Money to Make Money...Tough times never last, but tough people do. The global economic recession has claimed 2 million jobs this month alone. 70,000 people lost their jobs on January 26..