Say no to Bangalore, yes to Buffalo: Obama [ Is it going to affect Indian Market ? ]

May 6, 2009

05obamaSay no to Bangalore, yes to Buffalo: Obama (Is it going to hit Indian Market ?

Say no to Bangalore and yes to Buffalo,seems to be the latest mantra of United States President Barack Obama as he struggles to bring the ailing American economy back on track.

Meeting one of his major election promises, Obama on Monday the announced end of years of tax incentives to those US companies which create jobs overseas in places like Bangalore.

Instead, the incentives would now go to those creating jobs inside the US, in places like the Buffalo city — bordering Canada in upstate New York.

“We will stop letting American companies that create jobs overseas take deductions on their expenses when they do not pay any American taxes on their profits,” Obama said at White House announcing the international tax policy reform.

“We will use the savings to give tax cuts to companies that are investing in research and development here at home so that we can jump start job creation, foster innovation, and enhance America’s competitiveness,” Obama said.

The new tax laws are expected to majorly hit countries like India, China and the Philippines, where US companies have been outsourcing their work.

Hitting hard at the current taxation system, to which he had been very critical since his election days and as a Senator, Obama said: “It’s a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.”

Reiterating his campaign rhetoric, the US President said: “The way we make our businesses competitive is not to reward American companies operating overseas with a roughly 2 per cent tax rate on foreign profits; a rate that costs taxpayers tens of billions of dollars a year.”

Source: Rediff


New IT jobs down by 25% in India

December 30, 2008

willcodeforfoodThere is more bad news for job seekers. A study by Naukri.com, states that the Overall Job Index in October 2008 is 781 as compared to 1000 in July 2008 indicating a decline of almost 21.9 per cent.

Historically, there is a seasonal decline in October which is around 10 per cent as recruitment slows down due to the festive season. The index suggests that companies are scaling back their recruitment plans due to the global financial crisis.

The IT sector has been hit badly by the slowdown. Both the software and hardware sectors have witnessed a dip in new jobs by almost 25 per cent since July this year

IT loses, but BPOs gain

Banking and financial services have seen a decline of over 32 per cent in October, while construction and engineering have seen a decline in new jobs by almost 22 per cent since July 2008.

The pharma industry has been comparatively less affected with a fall in the index of less than 15 per cent. Niche sectors like government and legal have seen an increase in new jobs.

Hiring dips in metros

The metros saw a dip in the supply of new jobs. Besides the slowdown, Diwali and Dussehra impact hiring to a considerable extent.

Metros that generate jobs saw a decline in new jobs to the tune of 16 per cent in comparison to the usual 10 per cent in earlier festive seasons. In the Delhi-NCR region, new jobs fell sharply after maintaining stability in August and September.

The job index for Delhi fell from 1000 to 786. Mumbai witnessed a higher setback in the month of Oct as compared to September and August, the job index fell from 1000 to 715 in October 2008 as compared to July 2008.


Bangalore, the IT hotspot, has lost new jobs since July, especially in August which saw a decline of close to 20 per cent as compared to September.

Worst-hit cities

Chennai saw a marginal increase in new job creation during September, however October saw a fall to the tune of 10 per cent.

Hyderabad and Pune bore the brunt of the slowdown, especially in the IT sector, and witnessed a decline of over 15 per cent in new jobs during October.

Jobs in Kolkata were severely affected with October alone witnessing a decline in new jobs by over 32 per cent. Chandigarh saw a slowdown in hiring to the tune of 35 per cent since July due to a slowdown in the IT sector.

Govt jobs rise

The banking industry shows a slowdown in hiring in the month of October.

Legal and government jobs saw an increase over the period of August, September and October 2008.

Over the past three months, real estate, banking, finance, IT and retailing show a decline; while telecom, pharma and hospitality emerge as attractive options. Some niche sectors, like government, defence and legal sectors have gained attractiveness in recent months.

Source: Rediff


Security tightened in Bangalore

July 26, 2008

Investigations are on into the terror attack in Bangalore, in which 2 people were killed and several others were injured.

Although no one has claimed responsibility for the blasts, sources in the Union Home Ministry say Pakistan-based Lashker-e-Toiba along with the local support of SIMI could be responsible.

Police sources in Bangalore however say the nature of the attack points at the Bangladesh outfit HuJI.

There are reports that a Karnataka police team left for Hyderabad on Friday night to interrogate an MBA student who was arrested on July 15 in the city. They hope to interrogate Mohammed Muqeemudin Yasir, brother of Raziuddin Nasir, who was arrested on January 29 on charges of organising terror-training camps in the forests near Hubli, Karnataka.

Bangalore is on high alert after Friday’s terror attack. Security has been tightened in high-density areas, defence and space establishments, the state secretariat, the high court, IT firms, railway stations, the central bus station and the airport.

The Union Home Ministry has decided to amend the rules and provide CISF security to IT companies in Bangalore. Currently, CISF security is given only to public sector companies.

The Intelligence Bureau had reportedly received inputs that terrorists could target the cyber cities of Hyderabad and Bangalore and both the state governments were told to be on high alert.


Bangalore after blasts

July 26, 2008

A day after a string of eight synchronised low intensity bomb blasts rocked the IT hub – Bangalore on Friday (July 25) that killed one and injured several others, the investigating agencies are trying to establish the hand of terror outfits Lashkar-e-Toiba and the banned Students Islamic Movement of India (SIMI) behind the attacks. Meanwhile, Karnataka chief minister Yeddiyurappa has called a meeting of his cabinet today (July 26) to discuss the situation. However, the blame game between the Centre and state over the terror attack has began with the BJP blaming the Centre for going soft of terror.


Bangalore Blast Images Madiwala

July 25, 2008

Places near Bangalore / Bengaluru to go

May 20, 2008

1. Nandi Hills

It is the nearest hill station from Bengaluru and a good option for somebody looking to go for a long drive.

To reach Nandi Hills take the Hyderabad highway (NH7/Yelahanka Road) from Bengaluru. After 38kms along the highway, couple of kms past Devanahalli, you can see a road going to the left towards Nandi Hills. There is a sign board there and you should not miss it, if you are careful. After another 10kms you will reach a T-junction, from where you should take a left. 4 more kms, it is one more right turn followed by a ghat road leading to Nandi Hills.The place offers a nice bird’s eye view from the top. An early morning drive to the hills, in time for the sunrise, is an exciting option.

2. Sangam

Sangam is the confluence of Rivers Kaveri (Cauvery) and Arkavathi. One more nice picnic spot along Kanakapura Road (NH209) formed around River Kaveri.

To reach Sangam by taking a 33km deviation to the left, soon after Kanakapura, along NH209. A big arch is placed there to tell you the route. About 16kms from Kanakapura you will reach a junction, to the right of which is Cauvery fishing camp. Go straight for Sangam. The last five kms to Sangam is an enjoyable drive through the ghat roads, with picturesque hills all around you. Water is not so deep at Sangam and is very clean, in spite of the huge crowd generally found here. But the surroundings is filled with litter and plastic. Its a pitty that a place like this is not kept clean.

3. Sivanasamudram

Sivanasamudram (aka Sivasamudram) is a nice waterfall near Malavalli, Mandya district. The waterfall is around 50meters tall on River Kaveri (Cauvery) and is a beautiful sight, especially during monsoon. To reach Sivanasamudram, take the NH209 (Kanakapura road) and continue till Malavalli, past Kanakapura. Around 10kms past Malavalli, along NH209 (Kollegal road), you can spot a board to your left, indicating a 4km detour to Sivanasamudram.

4. Talakkad

Talakkad (Talakad/ Talakadu/ Talakkadu), situated in the banks of Kaveri (Cauvery) is known for its sand dunes and the temples buried underneath. River Kaveri flows very shallow here and is ideal to take bath and play around. Talakkad is in Mysuru (Mysore) district. To reach there, take the NH209 (Kanakapura road) past Malavalli. Soon after Malavalli, there is a T junction, with road on the right going towards Mandya/Mysuru. Take the left and continue in NH209, towards Kollegal. About some 5kms before the detour for Sivanasamudram, there are sign boards indicating Talakkad, 22 kms to the right.

5. Bannerghatta National Park

Located 22 kms from Bengaluru city, along the Bannerghatta road, this is a good place to visit. Just about 10kms from IIMB campus, Bannerghatta national park is probably the easiest place, where you can spot wild animals like lions and tigers roaming freely in something resembling a forest. These animals are kept in fenced containment and safari is arranged to see them. There is also a zoo in the national park premises where you can have a look at a variety of animals. An Elephant joy ride or safari is also possible.

A major drawback with the place is that it is more of a zoo than a national park and lacks a wild feel. Also, the animals kept in cages paints a sorry figure. Still, some of the tigers/lions kept in fenced containment looks healthy, offering a rare experience.

6. Big Banyan Tree (Ramohalli)

18 Kms. from Bangalore on the Mysore Road. The famed Big Banyan tree spread over nearly four acres is located here. The tree has an awe-inspiring appearance and consists of a vertical root system forming a pleasant complex. Age of this massive tree is around four hundred year.

7. Muthyala Maduvu (Pearl Valley)

44 kms from Bangalore via Brigade Road-Hosur Road-Anekal. A picturesque picnic spot with a waterfall which is 300ft. high. There is a Traveller’s Bungalow 6 kms from Anekal Town on the Hosur Road. For reservations contact Block Development Officer, Anekal.

8. Kolar Gold Mines

120 kms from Bangalore. Kolar is as rich in history as it is in gold. The gold mines here are the deepest mining pits in the world, reaching down to a depth of about 10,000 feet below the surface of the earth. The Secratary, Kolar Gold Mining Undertaking, K.G.F., may be contacted for permission to visit the mines. Bharat Earth Movers factory is also situated here.

To find more place please visit click here