India closely monitoring developments on H1-B Visa row, soon to meet representatives of US: Nirmala Sitharaman
Amid the concerns raised by India Inc on the H-1B United State visa row, the Commerce and Industry minister Nirmala Sitharaman on Monday said that the ministry will soon conduct a meeting with the concerned industries including Nasscom to discuss the issue further. Sitharaman, while addressing a press conference today also said “India is closely monitoring the developments on the entire visa row and along with the External Affairs Ministry, we are in constant touch with the embassy in the US.” More..
H-1B looms big for Indian unicorn startups in the US
US Democrat Zoe Lofgren's bill introduced last week is set to ensure that the US retains the crown when it comes to creation of billion dollar startups. The bill seeks to curb job outsourcing through H1B program which has been long used by large IT companies, and make way only for the highly skilled like those who go on to build unicorn startups. More..
US visa norms, technology shift add to IT margin pressure
The $108 billion Indian IT services industry is bracing for tough times ahead as potential visa restrictions add to their troubles such as a shift towards automation and pressure on margins in traditional services. Technological disruption and faster-than-expected adoption of technologies like artificial intelligence, robotics and the cloud platform are other major challenges for the industry. More..
H-1B salary hike plan: L&T Tech fears 2.5 percent hit on margins
L&T Technology Services today said its pre-tax profit margin may be hit by up to 2.5 per cent if the US hikes minimum salaries for H-1B visa holders to $1,30,000, and that it is working on alternatives, including shifting the jobs to India.
“We have over 1,600 engineers in the US and around 65 per cent of them are on H-1B visas. If the salaries were to be hiked, our calculations suggest an impact of 2-2.5 per cent on Ebidta margins,” Managing Director and Chief Executive Keshab Panda told PTI. More..
India attracted $32.5 billion foreign direct investment during April-November
India attracted USD 32.49 billion foreign direct investment (FDI) in April-November of 2016-17, Parliament was informed today. The key sectors that received a major chunk of FDI included metallurgy, computer software and hardware, telecom, information and broadcasting and automobile, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. More..
Melania Trump missed out on ‘once-in-a-lifetime opportunity’ to make millions, lawsuit says
A lawyer for first lady Melania Trump argued in a lawsuit filed Monday that an article falsely alleging she once worked for an escort service hurt her chance to establish “multimillion dollar business relationships” during the years in which she would be “one of the most photographed women in the world.” More..
DeVos hangs in balance before tight Senate vote
President Donald Trump's selection for education secretary, billionaire mega-donor Betsy DeVos, appears to be his most embattled Cabinet pick, but Senate Republicans have largely held tight in their support. Senate GOP leaders are confident they can squeak DeVos through the Senate with the support of 50 Republican senators Tuesday afternoon, plus a historic tie-breaking vote from Vice President Mike Pence.
"The point is we're at a 50-50 moment where we only need one more senator to break and vote against Betsy DeVos and she won't be confirmed, and so we want to make our argument up until the last minute to see if we can get that 51st vote," Sen. Chris Murphy told CNN's Alisyn Camerota Tuesday on "New Day." More..
Amid the concerns raised by India Inc on the H-1B United State visa row, the Commerce and Industry minister Nirmala Sitharaman on Monday said that the ministry will soon conduct a meeting with the concerned industries including Nasscom to discuss the issue further. Sitharaman, while addressing a press conference today also said “India is closely monitoring the developments on the entire visa row and along with the External Affairs Ministry, we are in constant touch with the embassy in the US.” More..
H-1B looms big for Indian unicorn startups in the US
US Democrat Zoe Lofgren's bill introduced last week is set to ensure that the US retains the crown when it comes to creation of billion dollar startups. The bill seeks to curb job outsourcing through H1B program which has been long used by large IT companies, and make way only for the highly skilled like those who go on to build unicorn startups. More..
US visa norms, technology shift add to IT margin pressure
The $108 billion Indian IT services industry is bracing for tough times ahead as potential visa restrictions add to their troubles such as a shift towards automation and pressure on margins in traditional services. Technological disruption and faster-than-expected adoption of technologies like artificial intelligence, robotics and the cloud platform are other major challenges for the industry. More..
H-1B salary hike plan: L&T Tech fears 2.5 percent hit on margins
L&T Technology Services today said its pre-tax profit margin may be hit by up to 2.5 per cent if the US hikes minimum salaries for H-1B visa holders to $1,30,000, and that it is working on alternatives, including shifting the jobs to India.
“We have over 1,600 engineers in the US and around 65 per cent of them are on H-1B visas. If the salaries were to be hiked, our calculations suggest an impact of 2-2.5 per cent on Ebidta margins,” Managing Director and Chief Executive Keshab Panda told PTI. More..
India attracted $32.5 billion foreign direct investment during April-November
India attracted USD 32.49 billion foreign direct investment (FDI) in April-November of 2016-17, Parliament was informed today. The key sectors that received a major chunk of FDI included metallurgy, computer software and hardware, telecom, information and broadcasting and automobile, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. More..
Melania Trump missed out on ‘once-in-a-lifetime opportunity’ to make millions, lawsuit says
A lawyer for first lady Melania Trump argued in a lawsuit filed Monday that an article falsely alleging she once worked for an escort service hurt her chance to establish “multimillion dollar business relationships” during the years in which she would be “one of the most photographed women in the world.” More..
DeVos hangs in balance before tight Senate vote
President Donald Trump's selection for education secretary, billionaire mega-donor Betsy DeVos, appears to be his most embattled Cabinet pick, but Senate Republicans have largely held tight in their support. Senate GOP leaders are confident they can squeak DeVos through the Senate with the support of 50 Republican senators Tuesday afternoon, plus a historic tie-breaking vote from Vice President Mike Pence.
"The point is we're at a 50-50 moment where we only need one more senator to break and vote against Betsy DeVos and she won't be confirmed, and so we want to make our argument up until the last minute to see if we can get that 51st vote," Sen. Chris Murphy told CNN's Alisyn Camerota Tuesday on "New Day." More..
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