Makes sense to look at operations in Ecuador and Colombia in the future.
The Hindu Business Line :
Karuturi Global Ltd, the world’s largest growers of roses with presence in India, Kenya, Ethiopia, Dubai and Holland on Wednesday announced the launch of its agricultural operations in Ethiopia where it had acquired 3.4 lakh hectares land on long term lease.
The company said it has started cultivation on 11,700 hectares of land in Bako, Ethiopia. This land will be used for the cultivation of maize, rice, vegetables and other commercial crops.
Mr Sai Ramakrishna Karuturi, Managing Director of Karuturi Global said the company hopes to start sowing operations on an additional 40,000 hectares by March.
He told Business Line that his company has already tied up for funds from banks to meet the investment cost, which is estimated at $250 million spread over 60 months. Karuturi will also be sowing long gestation crops such as sugarcane and oil seeds for which it would take some time.
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BusinessWeek
Over the past couple of weeks, I’ve checked in with Indian IT and BPO outsourcing companies on how the global financial meltdown is affecting their businesses. So far, so good—even for those with a relatively high exposure to financial services clients. The near-shore scene is similar. Beni Lopez, CEO of Mexico-based Softtek’s near-shore operations, tells me there are a couple of forces at work. Under pressure because of concerns about the economy, some North American companies are trying near-shoring services for the first time. Meanwhile, some of Softtek’s existing customers have cut back on the services they require because of budgetary pressures. So far, “Softtek hasn’t felt the pain,” Lopez says. The company expects revenues to grow at more than 30% this year, roughly the rate of growth it has experienced for the past five years. One source of stability is its domestic Latin American business, which represents more than 50% of revenues. Brazil is growing fast, for instance.
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Courtesy of the money printers at the Reserve Bank of Zimbabwe. The bizzarro world created by that state of affairs is cataloged here. Helicopter Ben Bernanke seems to derive inspiration from them.
Zimbabwe dinner tab
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