vIndianz.com (Nov 30, 2009) — Leading software exporters TCS, Infosys and Wipro said they have slight coverage in Dubai and do not see any unfavorable impact due to the up-and-coming financial catastrophe there. While the country’s major software exporter TCS said it has a small business in Dubai and the coverage is negligible, Infosys, the second largest software exporter, said it does not have any ‘material’ exposure to Dubai.
Infosys CFO V Balakrishnan said that the company gets a smaller amount of 0.5 per cent income from Dubai and most of its contracts are from the private sector.
“There is no material impact on us and our working due to the Dubai World crisis,” he said.
Asked if the company would pursue deals even after this rising crisis, Balakrishnan said, “The Company sees creditworthiness of the clients and character of work, so this crisis would not be an influence.”
Further Reading- U.A.E Pledge calms and cools markets down but Dubai fears continue
- Infosys completes 29th year of operations on July 2
- Abu Dhabi gives Dubai $10 bn in surprise aid
- Dubai World catastrophe dreadful news for Kerala’s economy
- Dubai May Sell Shares to Public Amid Restructuring – BusinessWeek
- Lawson Software Gets $11.25 Per Share Bid – ABC News
- Bangalore: Ex-Infosys techie kills daughter, commits suicide – NDTV.com
- Teradata buys analytics firm Aprimo for $525M – Bloomberg
- Karlsson wins Dubai World Championship in playoff – USA Today
- Analysts debate tablets impact on Microsoft growth – Reuters
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