Recall walking through the ubiquitous chain drug store near you to see the cologne shelves where the knock-off brands advertised “If you like Paco Rabanne, you’ll love ‘Paul Raven’ cologne.” Basically it smells the same but is a lot cheaper.
Even as many manufacturers bring operations back to the United States, IT outsourcing is still doing well as evidenced by Wipro (WIT, quote) earnings out last week. The company presented a positive report and outlook, a rarity for the company as of late, with a 24% increase in net income to $300 million on a 17% jump in revenues over the same period last year.
Monday’s best web covers future prospects for IT companies in India, a new gaming center in far eastern Russia, Vietnam’s plan to attract investment, and speculation about monetary policy stimulus in China.
China’s manufacturing data recovered somewhat in July, climbing to a five-month high of 49.5 compared to 48.2 for the previous reading in June and giving nervous emerging markets a bit of confidence that not everything in the global economy is bad.
Thursday’s best web covers General Motors’ plan to reduce IT outsourcing, investors’ preference for ASEAN countries, Bulgaria’s timing in joining the euro, a strong case to stay optimistic about China’s growth prospects, and negotiations for free trade between South Korea and Indonesia.