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Week In Week Out

Economy




WEEK OUT

Competitiveness compared
The Global Competitiveness Report 2010-2011 has been released by the World Economic Forum and India has slipped to 51st from the 49th spot. The report rated 139 countries for institutions, policies, and factors that determine the level of productivity. Switzerland is still tops, Sweden follows and Singapore at the third place.

Offshoring uproar

It's protectionism time in the US. Days after the US state of Ohio banned outsourcing of government IT and back-office projects to offshore locations such as India, President Barack Obama has said that tax breaks will be given only to those companies that do not outsource jobs. He wants American companies to create jobs for Americans, not others.

WEEK IN

Regime change at Nokia
Mobile giant Nokia has fired its beleagured chief executive, Olli-Pekka Kallasvuo. His successor will be senior Microsoft executive Stephen Elop, who was the head of Microsoft's business division. Nokia has been battling both Apple and Google. Apple's iPhone and Google's Android have not yet met their match by a Nokia product and the Finnish company is desperate to restore its fortunes.

(Compiled by Sindhu Manjesh & Ruhi Batra
)

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