Obama tax move won’t affect Indian firms, Murthy to president

May 11th, 2009 NEW DELHI - US President Barack Obama's recent announcement on tax crackdown on companies outsourcing to overseas firms will not affect the Indian IT sector, an industry official said here Monday. 'It will impact only American companies.

May 5th, 2009 NEW DELHI - India Inc believes the move by the Barack Obama administration to reduce tax breaks for US firms that ship jobs overseas will hit American companies more than impact on the Indian outsourcing industry. 'It's a more US-US issue rather than one aimed at stopping outsourcing, or off-shoring, or anything to do with India,' said Som Mittal, president of the National Association of Software and Service Companies (Nasscom), a representative boddy for the industry.

February 25th, 2009 NEW DELHI - The Federation of Indian Chamber of Commerce and Industry Wednesday expressed concern over US President Barack Obama's statement on ending tax breaks for outsourcing companies, saying 'protectionist measures could deteriorate the situation further'. 'Coming at a time when the global economy is going through a phase of slowdown and when countries need to work collectively, protectionist measures of any kind could deteriorate the situation further,' FICCI said in a statement.

February 17th, 2009 BANGALORE - Infosys Technologies chairman and chief mentor N.R. Narayana Murthy has declined to be the IT advisor to the Sri Lankan government, the IT bellwether said Wednesday.

February 25th, 2009 WASHINGTON - In a message that may not be music to Indian outsourcing firms, US President Barack Obama has served notice that he would end the tax breaks for corporations that ship jobs abroad. Giving his first speech to a joint session of the US Congress Tuesday, Obama said: 'We will restore a sense of fairness and balance to our tax code by finally ending the tax breaks for corporations that ship our jobs overseas.' If Obama follows through with the announcement in the budget, whose outline he would present Thursday, the move may hurt India's BPO sector as without the tax breaks, US companies may find it less attractive to outsource jobs to India.

February 26th, 2009 BANGALORE - Indian IT industry body Nasscom has reacted cautiously to US President Barack Obama's remarks on outsourcing, saying global outsourcing had benefited US firms that generate over 50 percent of their business overseas. 'American companies generate more than 50 percent of their business outside the US.

February 12th, 2009 COLOMBO - Sri Lanka's President Mahinda Rajapaksa Friday appointed N.R. Narayana Murthy, chairman of India's Infosys Technologies, as his international advisor on information technology, the president's office said.

May 5th, 2009 BANGALORE - US President Barack Obama's announcement to end tax sops to those US firms outsourcing jobs to countries like India has come under flak from Phil Harkins, a leading US management expert and chief executive of Linkage Inc, a global firm specialising in leadership development 'What Obama is doing is just politics. It's the arrogance of the US to think creating jobs overseas will result in job losses back home.

May 7th, 2009 BANGALORE - Undaunted by US President Barack Obama's Bangalore-Buffalo remark and proposal to extend tax benefits to those creating job opportunities to Americans, experts in the Indian IT industry said the comments had nothing to do with outsourcing or with India. It is an instance of Obama's views being misinterpreted, said Som Mittal, President of Nasscom, while speaking to media persons here on Wednesday.

February 25th, 2009 BANGALORE - Indian IT bellwethers Infosys Technologies and Wipro Wednesday expressed confidence that the US would not take any measure that would hurt its global competitiveness. Reacting cautiously to US President Barack Obama's remarks on outsourcing Tuesday, Infosys said outsourcing had enhanced the competitiveness of US corporations and had created more jobs within the US economy.

January 14th, 2009 BANGALORE - IT major Infosys Technologies chairman and chief mentor N.R. Narayana Murthy Thursday said the government-appointed board members of the fraud-hit Satyam Computer Services were excellent, competent and had lots of experience.

January 11th, 2009 CHENNAI - Perhaps for the first time in the Indian corporate history, an audit firm - and a foreign one at that - is being dumped midway by a company. The government-appointed new board for Satyam Computer Services has declared that the fraud-hit IT bellwether will have a new audit firm to restate the books of accounts.

July 17th, 2009 Obama to have news conference on WednesdayWASHINGTON — The White House has announced on its Twitter page that President Barack Obama will have a prime-time news conference on Wednesday. The White House on Friday said that Obama will meet with reporters at the White House at 9 p.m.

January 14th, 2009 MUMBAI - India's outsourcing firms were jolted Thursday after Canada-based Nortel Networks, one of North America's largest telecom equipment firms and a key client for many IT firms in this country, filed for bankruptcy. Among the biggies of Indian outsourcing firms that are expected to bear the heat of the development are Tata Consultancy Services (TCS), Wipro, Infosys and Sasken Communication Technologies, industry sources said.

October 1st, 2009 Secret Service: Facebook poll no threat to ObamaWASHINGTON — The Secret Service has determined that a juvenile was behind the online survey that asked whether people thought President Barack Obama should be assassinated, an agency spokesman said Thursday. No criminal charges will be filed against the juvenile or the juvenile's parents, spokesman Edwin Donovan said.