While, the executive order, at present, temporarily bans some immigration – notably, those who were waiting for a green card outside the US, with some exceptions carved out – a review of the non-immigrant visa programmes within 30 days of the proclamation is going to put H-1B and L visas (used for intra-company transfers) under
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India’s rupee, among Asia’s worst-performing currencies this year, could be the fastest in the region to rally as the world restarts economic activities after the coronavirus pandemic, oil prices weaken and the US dollar eases broadly, analysts said. The partially convertible Indian rupee has lost nearly 7% so far this year, despite dollar supplying intervention.
India is studying President Donald Trump’s executive order temporarily halting immigration into the US for 60 days and its possible impact on Indians, government sources said on Thursday.
The US Senate on Tuesday unanimously approved $484 billion in additional coronavirus relief for the US economy and hospitals treating people sickened by the pandemic, sending the measure to the House of Representatives for final passage later this week.
US President Donald Trump has said that he will halt issuing of new Green Cards or legal permanent residency for the next 60 days as part of his executive order to temporarily suspend immigration into the US. However, the move will not have any impact on those entering the country on a temporary basis, Trump
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“We are filling up our national petroleum reserves… And we are looking to put as much as 75 million barrels into the reserves themselves,” Trump said. US oil prices crashed to unprecedented lows Monday as futures in New York ended in negative territory for the first time amid a devastating supply glut.
US oil prices rebounded back above zero Tuesday, a day after futures ended in negative territory for the first time as a coronavirus-triggered collapse in demand leaves the world awash in crude. US benchmark West Texas Intermediate for May delivery was changing hands at $0.56 a barrel after closing at -$37.63 in New York.
The telephone lines have been ringing at Adler Tank Rentals in Texas as oil companies found a new use for steel tanks that had been left idle when shale producers stopped drilling – they want to use the tanks to store some of an oil glut that has overwhelmed the market and flipped US crude
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The price of a barrel of benchmark US oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity.
A record 22 million Americans have sought unemployment benefits over the past month, with millions more filing claims last week, underscoring the deepening economic slump caused by the novel coronavirus outbreak. Thursday’s weekly jobless claims report from the labor department followed dismal data on Wednesday showing a record drop in retail sales in March and
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The Indian rupee tanked 43 paise to settle at an all-time low of 76.87 (provisional) against the US dollar on Thursday, amid rising concerns over coronavirus-led economic slowdown. At the interbank foreign exchange, the rupee opened weak at 76.75, and during the day lost further ground to settle at 76.87, registering a fall of 43
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In a big relief for thousands of stranded Indian professionals in America due to the coronavirus pandemic, the US government has decided to allow applications by H-1B visa holders for an extended stay. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or
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The US labor department said on Friday its consumer price index dropped 0.4% last month amid a tumble in the cost of gasoline, and record decreases in hotel accommodation, apparel and airline ticket prices. That was the biggest drop since Jan 2015 and followed a 0.1% gain in Feb. In 12 months through March, the
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US unemployment is rising at a jarring rate, with data on Thursday showing 17 million have lost their jobs since mid-March, as officials scramble to apply a tourniquet to stem the damage from the coronavirus pandemic. The Federal Reserve launched a series of new lending programs to pump $2.3 trillion into the damaged US economy,
Continue Reading “US economy purged 17 million jobs amid pandemic”
The rupee plunged by 70 paise to its life-time low of 76.34 against the US dollar on Wednesday as a rise in coronavirus cases in the country fanned fears of the government extending the lockdown to contain the pandemic. Forex traders said rising Brent crude prices and a firm US currency also weighed on the
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An Indian American-owned pharma firm has pledged to donate 3.4 million Hydroxychloroquine Sulphate tablets to some of the key COVID-19 battleground states, including New York and Louisiana, joining the war against the dreaded coronavirus which by Tuesday had taken lives of more than 12,800 people in the US alone.
Covid-19 has led to exporters bleeding with upwards of 15-20% of the orders getting cancelled and a major amount of funds being locked up, owing to non-payment of dues by large buyers in the US, Europe and West Asia, prompting them to seek a bailout from the government.
The worst stage of coronavirus pandemic became visible in the US when the Donald Trump government reported that employers cut over 7 lakh jobs in the first two weeks of March — close to the May 2009 financial crisis peak of 800,000 job losses.
The Trump Organisation — the conglomerate of companies created by Trump and now run by his sons — is, like many others, losing money as the restrictions put in place to lessen the spread of deadly COVID-19 bring the US to a grinding halt.
Nearly a year and a half year after Hyderabad-based pharma major Aurobindo Pharma announced its big ticket, $900 million deal to acquire Sandoz Inc’s US generic oral solids and dermatology businesses, the company on Thursday informed the bourses that the deal has been mutually called off due to delays in getting approvals from the US
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The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
Furloughs, leave without pay, salary cuts, layoffs – that’s the story across sectors as the pandemic deepens the economic crisis. Employees of US conglomerate Honeywell, which has a large engineering centre and operations in India, have to take two weeks of unpaid leave in April and May.
A US body representing American technology workers has urged President Donald Trump to suspend for this year the H-1B visa programme, the most sought-after among the Indian IT professionals, to protect their interests amidst the massive layoffs due to Covid-19 pandemic. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign
A bulk of H-1B cap registrations, received by the US Citizenship and Immigration Services, were for potential beneficiaries (workers) from India. Of the 2.75 lakh registrations received from sponsoring employers wish to depute or hire workers in the US, nearly 67.7% or 1.86 lakh were from India. Registrations were also filed for 36,300 (13.2%) Chinese
Fearing massive layoffs in America due to the coronavirus crisis that is hitting businesses around the globe, foreign technology professionals on H-1B visas, the most sought after among Indians, demand the Trump administration extend their permissible post-job loss limit to stay in the US from the existing 60 to 180 days.
Oil prices extended losses in Asian trade on Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war. US benchmark West Texas Intermediate fell 5.3% to trade at $20 a barrel, while international benchmark Brent crude was off 6.5% at $23.
The US Citizenship and Immigration Services (USCIS) said it has reached the congressionally-mandated 65,000 H-1B cap for the fiscal year 2021 as it received enough requests from corporations and businesses.
The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as strict measures to contain the coronavirus pandemic brought the country to a sudden halt, unleashing a wave of layoffs that likely ended the longest employment boom in US history.
In a huge relief to Infosys, the company has received a clean chit from US markets regulator Securities & Exchange Commission (SEC) on the whistleblower complaints that roiled it last year. The company’s share price gained 12.7% to end at Rs 594 by close of Tuesday’s trade on the BSE.
A KLM flight was asked to return to Amsterdam after it took off for Delhi on Friday with about 100 Indians transiting back home from US and Canada. Since India has barred entry of anyone from Europe, UK and Turkey — including transit passengers from there — aviation authorities here asked the Boeing 787 Dreamliner,
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