The Economist.com reported that there is a trend evolving in poorer countries around the world. Stronger countries that export capital but import food are outsourcing farm production to countries that need capital but have land to spare. Instead of buying food on world markets, governments and politically influential companies buy or lease farmland abroad, grow the crops there and ship them back.
Australian Banks Cut back on Indian Outsourcing
Business Week.com announced that several top Australian banks, Westpac and Commonwealth Bank, plan to curb offshoring of back office IT projects to India in an attempt to address local sentiments over a shrinking economy and rising joblessness . The banks are likely to demand that more projects be delivered on site.
HCL Signs Outsourcing Deal with MTV
HCL Technologies announced in Business Standard.com that it is entering into an outsourcing services agreement deal with MTV networks. MTV (or Music Television) is owned by US-based Viacom
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