Tag Archives: south asia
à¤¨à¤®à¤¸à¥à¤¤à¥‡ (namaste) and welcome to Outsourced, your South Asian news column. Now that everyone is drooling and/or complaining about Dr. Sanjay Gupta, there’s no better time to talk about the Indian Subcontinent. The latest scandal rocking the Indian subcontinent is that concerning Satyam Computer Services, an outsourcing company that serves as the back office for some well-known companies such as GM, GE, and even the United States government, handling virtually anything (NYTimes). A few days ago, chairman of Satyam, Ramalinga Raju, admitted that it inflated its earnings and assets for quite the while ……… and resigned. (Leaving others to clean up the mess, of course.)Â Nearly $1.04 billion (or 50.4 billion of the 53.6 billion rupees) of the assets Satyam listed in the second quarter were non-existent. Yeah. You heard me correctly. Anyway, the Indian stock market is in turmoil and unsurprisingly enough, Satyam stock is down 70%.