BRIC service sector to generate profits: KPMG

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: worry in Russia. Says Kosyrev, “For the white-collar positions in Russia, we witnessed an attempt to rejuvenate that sector, by washing away the older and more experienced people, who looked like a threat to enterprising youngsters. The result is catastrophic, lowering the quality of business decisions taken daily. So a lot has to change in that regard.” The survey mentions that over half of BRIC service providers forecast annual growth of their total operating costs to accelerate over the next twelve months, citing dearer raw material prices, staff salaries and outsourcing costs. Speaking to FE on the telephone from London, Gomes said: “Those countries that have commodities such as Brazil and Russia will build up substantial reserves. Africa is the continent to watch out for. India and China shall be doing a lot of business with that continent—even now Indian companies such as TCS, UB are doing a lot of business with South Africa.”