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Sunday, 2 November 2008 - Microsoft chief urges growth through investment in tough times
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    Read more with google mobile : Microsoft chief urges growth through investment in tough times

    Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Microsoft chief urges growth through investment in tough times AFP - 1 hour 38 minutes ago SEOUL (AFP) - - Microsoft chief Steve Ballmer said Monday that growth through investment is the key for companies struggling to ride out an economic slowdown. "The best solution for tough business times is growth, not contraction," Ballmer told South Korean businessmen, adding that "now is not the time to forget that lesson." He said the US software company would not cut back on investment despite an expected slowdown in the global economy. "We may grow our investment slightly less, but we're not cutting our investment," he said at a breakfast meeting is Seoul, according to Yonhap news agency. For years, Microsoft has been trying to expand its software dominance beyond offices and homes. Last month it unveiled its new Windows software, Windows Azure, which can store and run user programmes and data on a remote server on the Internet. The move came as the firm tries to compete with similar services from search engine Google. "Some people will say is this in Microsoft's best interest, I'll say its inevitable, so it had better be in our best interest. That's why you see us embracing this future, not resisting this future," Ballmer said. He said Microsoft is also focused on investing "broadly" in various fields, underscoring that what a company learns in one business can be applied to another. On Monday Microsoft and South Korea's Hyundai auto group opened a research centre to develop new IT products and services for automotive application. The firms "share a similar vision for the role that information technology will play in connecting people to information, communications, and entertainment while they are in their cars," Ballmer said in a statement. Hyundai said the technologies developed at the centre would be applied in its cars from the second half of 2010. In May the two forged a deal to develop a new in-vehicle music and entertainment system, which will be voice-controlled and linked to other handheld devices. The Hyundai group, which includes affiliate Kia Motors, controls 70 percent of the country's auto market and accounts for 5.4 percent of gross domestic product. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business India markets cheer rate cut, growth worries remainReuters - 45 minutes ago TOPWRAP 2-More rate cuts ahead; S.Korea plans $11 bln stimulusReuters - 46 minutes ago Pakistani c.bank sells 34.5 bln rupees of T-billsReuters - 52 minutes ago Zurich enters Islamic insurance JV in Abu DhabiReuters - 57 minutes ago DEALTALK-Aussie REITs chase funds; investors want discountsReuters - 59 minutes ago Enlarge Photo Microsoft chief urges growth through investment in tough times Most Popular – Business Viewed Hamilton pips Massa to Formula One title in tense Brazil finale Obama and McCain duel in final hours of White House race Formula One driver Hamilton wins 2008 F1 championship Australia anxious as Indonesia prepares to execute Bali bombers Australian F1 race posts record financial loss View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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