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Thursday, 25 January, 2001, 20:50 GMT
Oracle predicts boom
Oracle predicts a bright future
From BBC News Online's Orla Ryan in Davos

Software giant Oracle remains confident that it can sustain its strong growth despite a slowdown in the US economy.

Speaking to BBC News at the World Economic Forum in Davos, Sergio Giacoletto, vice president, East Europe, Middle East and Africa, sounded a surprisingly upbeat note in a conference dominated by fear of a US-led recession.


The debate is over and to prove the point, even Microsoft is moving to network servers

Sergio Giacoletto
Oracle is one of the few technology companies to have posted strong fourth quarter results, a success it attributes to its sales of server, as opposed to PC software.

He claims that success is in part a philosophical victory, proving that the technological future lies in selling this kind of software.

'Bullish'

"The debate is over and to prove the point, even Microsoft is moving to network servers," he said.

He points out that Compaq and IBM both saw their PC sales fall, while their server business thrived.

"The companies suffering are those selling PCs and PC-based software," he said.

US recession?

So far, the evidence is that capital spending remains strong, he said.

"We are looking very carefully at what is going on in capital investment..We are pretty confident," he added.

"From a company point of view, we continue to be confident. I would even say bullish," he added, indicating that the strong results seen in the first half would continue into the third quarter.

Mr Giacoletto says the prospects for Europe remain strong, particularly in the areas of mobilecommerce and wireless applications and the business to business marketplace.

Future growth lies in eastern Europe, the Asia Pacific and Latin America, he added.

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See also:

19 Jan 01 | Business
Trade data reveal US slowdown
20 Nov 00 | Business
Oracle loses 'future chief'
14 Sep 00 | Business
Profits double at software giant
11 Jan 01 | Business
PC market 'weak for six months'
28 Dec 00 | Review
Microsoft's bruising year
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