The US on Monday announced a new international travel system under which fully vaccinated individuals would be allowed to enter the country beginning in November.
The US has received enough petitions needed to reach the congressionally mandated 65,000 H-1B visa cap for the fiscal year 2022, a federal agency has announced. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
'One of the major challenges to the protection of rule of law and human rights is the inability of the formal justice system to deliver speedy and affordable justice to all'
Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it.
Foreign portfolio investors (FPIs) have pulled out Rs 17,696 crore from the Indian markets in December so far amid uncertainty due to a new coronavirus strain, Omicron, and expectations of faster tapering by the US Federal Reserve. According to the depositories data, FPIs took out Rs 13,470 crore from equities, Rs 4,066 crore from the debt segment and Rs 160 crore from hybrid instruments between December 1-17. In November, FPIs were net sellers to the tune of Rs 2,521 crore in Indian markets.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
With Western corporations, including Microsoft, AWS and Oracle, shutting down their operations in Russia, the rest of the world has become acutely aware of its dependence on a clutch of technology service providers.
'Nobody is talking about the inequality that is going to come.'
The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth.
As Prime Minister Narendra Modi embarks on a tour of three European nations, India on Sunday once again called for the cessation of hostilities in Ukraine and resolution of the conflict through dialogue and diplomacy, noting that was an appreciation of its position on the crisis by its partner countries.
The government is open to 'some tinkering' in the varied rates and holding period for computation of capital gains tax on shares, debt and immovable property, in a bid to make it simple, revenue secretary Tarun Bajaj said on Wednesday. Under the Income Tax Act, gains from sale of capital assets, both movable and immovable, are subject to 'capital gains tax'. The Act, however, excludes movable personal assets such as cars, apparels, furniture from this tax.
The minister emphasised that India will play its due role in advancing global food security and it will do so in a manner in which it upholds equity, displays compassion, and promotes social justice.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from December 16 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years.
'Antony and I have been friends for over half a century, and I know the man does not tell lies. The problem is that what he believes to be the truth might not actually be true. He may believe that India needs the Congress, and that the Congress in turn needs the Nehru-Gandhi family, but that does not mean that India shares those articles of faith,' says T V R Shenoy.
Equity markets would watch out for global cues in absence of any major event on the domestic front, and indices may face volatility in view of the scheduled derivatives expiry this week, analysts said. "During the week, volatility is likely to remain high due to the scheduled derivatives expiry of November month contracts on November 25. "At the same time, the focus would largely remain on the global markets for cues, in absence of any major event on the domestic front," said Ajit Mishra, VP Research, Religare Broking.
'The recent correction in indices has made the markets cheaper to invest for the long term.'
Lavrov said a rupee-rouble payment system for trade with India was put into place earlier and it could be strengthened further.
United States President Joe Biden and Chinese's wannabe supreme leader Xi Jinping met virtually a few hours ago.
Singh, in his address to the Indian-American community in San Francisco, also sent a subtle message to the United States that New Delhi does not believe in a diplomacy of 'zero-sum game' and its relationship with one country cannot be at the expense of the other.
United Nations Secretary-General Antonio Guterres said on Monday that he has been in 'very close contact' with India and other countries on mediation efforts towards bringing an end to the war in Ukraine.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
IT major Tata Consultancy Services (TCS) has made changes to its leadership roles in North America. As part of the changes Suresh Muthuswami has been elevated to the role of chairman, North America, said sources in the know. This is one of the most significant leadership changes the company has announced for the region. The reason for the changes in the North American region, the largest in terms of revenue for TCS, is because Surya Kant who has been at the helm of North America for the past 16 years is stepping down by the end of the fiscal year, as he retires.
'EV-charging is the next big opportunity after fuelling'
'The Digital Rupee will be equal to the Indian rupee in value and backed by the full faith and credit of the RBI/Indian government.'
Vaccine inequity remains an issue in India, where less than 2 per cent of the population has received a Covid booster
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
Over the past few days, the Biden administration has been reaching out to its friends and allies to support it against Russian aggression in Ukraine.
'This kind of poisonous and anti-national activities happening in the country and the economic failure of the Modi government may boomerang in the form of a Congress revival.'
'Hope they don't tinker around with capital gains tax in any way.'
Former RBI governor D Subbarao on Monday said there is a strong motivation for the central bank to launch a digital currency and cash is going to coexist with the new-age currency. Addressing an event virtually organised by economic think tank NCAER, Subbarao further said cybersecurity is also one of the downside risks of the Central Bank Digital Currency (CBDC). "There is a strong motivation for the RBI to launch CBDC... Cash is going to coexist with CBDC," he said.
Stock markets will focus on global trends for further direction in this holiday-shortened week as the earnings season is largely over, analysts said. Trade experts expect the key benchmark indices to move sideways as investors are trying to decode the impact of rising inflation on foreign portfolio investments. Inflation data released by the US and China last week have fanned fears of earlier than expected rate hike and boosted US bond yields.
India look on course for a record-extending fifth title given the depth of talent and form but standing in the way is a driven English team, chasing its own piece of history in what promises to be an enthralling final.
Only 75 aircraft were deployed to support the invasion, observes Group Captain Murli Menon (retd).
This divisiveness is upsetting social cohesion and can throw the bright young people thronging to Bengaluru with billion dollar ideas in their creative minds off balance, warns Shekhar Gupta.
'Just keep telling people that we have fixed the Muslims, and they will not be bothered about their empty stomachs or empty wallets.'
In yet another immigration-friendly move that would benefit thousands of Indian-American women, the Biden administration has agreed to provide automatic work authorisation permits to the spouses of H-1B visa holders, most of whom are Indian IT professionals.
The concept of 'fairness by rulers' is deeply ingrained in Indians and any weakening of this dents the legitimacy of the ruler, warns military historian Colonel Anil A Athale (retd).
'The government is trying to kickstart the investment cycle in India and while the corporate investments are yet to gather momentum, there are early signs of the same.'
Former Wimbledon champion Goran Ivanisevic has said India can't forever sit on the laurels of greats like Leander Paes and it must have a top-10 singles player for tennis to thrive in the country.
West Indies legend Michael Holding says England's decision to cancel its limited overs tours of Pakistan smacked of 'western arrogance' and the country wouldn't have ever done this to a rich and powerful cricket board like India.
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